Position Reports To: Senior Vice President - Operations
Positions Supervised: None
Responsible for providing support for consumer loans in process. Prepares loan application packages and disclosures and opens, monitors and updates loans in process. Maintains Consumer Loan Processing Log and reviews daily to update processing steps and approval status. Handles email and paper mail for loan applications and performs miscellaneous clerical functions as needed. Coordinates closings and prepares closing documents including the Closing Disclosure as applicable. Works with title company and attorneys for purchase transactions. The position requires attention to detail and a high level of organization. Provides high quality and professional service to customers.
ESSENTIAL FUNCTIONS AND BASIC DUTIES
Assumes responsibility for providing effective support for all phases of consumer loan processing, closing, and post-closing activities.
Prepares and completes accurate Consumer loan application/disclosure packages including the Loan Estimate via Laser Pro Loan Processing System in accordance with federal and state regulations. Sends loan packages and communicate with applicants as necessary.
Label, organize and maintain neat and orderly loan files in accordance with established file order process. Document all correspondence and loan updates in file and Consumer Loan Processing Log.
Perform daily status review of all applications in process and maintain a sense of urgency in getting loan files ready to close as quickly as possible by maintaining communication with Loan Officer and Credit Administrator. Work with Loan Officer to resolve obstacles.
Order title commitments, appraisals, flood determinations, 4506t’s, insurance updates, verifications, payoffs and any additional information needed for underwriting. Document dates ordered and received in loan file and the processing log. Review all documents thoroughly for accuracy and completeness within 24 hours of receipt and notify loan officer of any title issues, appraisal issues, flood zone issues or other potential problems. Review purchase contracts and document key dates in loan file and in processing log.
Notify loan officer when files are ready to close and coordinate and schedule closing with loan officer, applicant(s), title company, and attorney if applicable.
Prepares Initial Closing Disclosure at the appropriate time according to regulations. Cross check for accuracy with a Loan Officer.
Prepare closing documents and complete initial pre-closing file audit, and prepare Closing Disclosure at the appropriate time and review for accuracy. Perform High Cost Loan check on FFIEC web site and review Laser Pro compliance feedback. Notify Loan Officer if changes are indicated.
Prepare Loan Funding Checklist, general ledger tickets, and wire transfer form prior to closing.
Follow up on post-closing issues and organize file for audit.
Other duties as assigned/necessary.2. Assumes responsibility for establishing and maintaining professional business relationships with customers and mortgage professionals.a. Resolves or refers requests and problems promptly and courteously. Answers customer loan questions regarding applications in the process of approval. All inquiries handled within one business day.b. Collect additional documentation from applicants and follow up on missing items.c. Maintains and conveys the Bank's professional reputation.3. Assumes responsibility for establishing and maintaining effective coordination and communication with Bank personnel and with management.a. Assists and supports Consumer Loan personnel as needed.b. Completes ongoing file requests promptly and accurately.c. Assures that all customer files are complete and in compliance with regulatory agencies and internal policies.d. Maintains pipeline report daily, and review pipeline report weekly with Consumer Loan personnel.e. Keeps Consumer Loan personnel informed of area activities and of any significant problems.4. Assumes responsibility for related duties as required or assigned.a. Completes required online training classes in accordance with annual training schedule and attends additional bank and outside training as necessary.b. Ensures that work area is clean, secure, and well maintained.c. Ensure customer privacy, security of files and appropriate staff access.
Files are processed and closed in a timely manner within lock term. All necessary steps from loan application and file submission through underwriting and closing are completed accurately and on time.
Files are neat, organized, accurate and up-to-date.
Customer inquiries and issues are courteously and promptly resolved or referred.
Good working relationships and coordination with lending personnel and with management. Assistance and support are provided as needed. Management is properly informed.
Loan processing functions are completed accurately and in accordance with established policies and procedures.
The Bank's professional reputation is maintained and conveyed.
Adherence to the Bank’s training program by attending required classes and completing assigned training curriculum.
Adherence to all state and federal regulatory requirements, including but not limited to BSA Compliance, Privacy, TRID and security procedures.
Education/Certification:High school graduate or equivalent.
Required Knowledge: Understanding of conventional, FHA and VA mortgage loan products and
Knowledge of mortgage related requirements, procedures, and FNMA/FHLMC
underwriting criteria. Knowledge of real estate contracts and language. Up to date
knowledge and proficiency relative to mortgage loan disclosure requirements.
Experience Required: Five years of experience processing consumer mortgage loans.
Skills/Abilities: Ability to provide excellent customer service in person and on the phone
Good oral and written communication skills
Able to handle multiple tasks and frequent interruptions
Excellent file management and organization skills
Knowledge and experience using MS Word, Excel and Outlook
Strong typing abilities
Good basic math skills and knowledge of basic accounting processes and procedures.
Able to handle stressful situations with calmness and courtesy.
PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION
Finger Dexterity: Using primarily just the fingers to make small movements such as typing, picking up small objects, or pinching fingers together.
Talking: Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.
Average Hearing: Able to hear average or normal conversations and receive ordinary information.
Repetitive Motion: Movements frequently and regularly required using the wrists, hands, and/or fingers.
Average Visual Abilities:Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.
Physical Strength: Sedentary work; sitting most of the time. Exerts up to 10 lbs. of force occasionally. (Almost all office jobs.)
None: No hazardous or significantly unpleasant conditions (such as in a typical office).
MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION
Reasoning Ability: Ability to carry out detailed instructions and to deal with problems involving many variables.
Mathematics Ability: Ability to perform moderate math skills, use decimals to compute ratios and percents, and to draw and interpret graphs.
Language Ability: Ability to use passive vocabulary of 5,000-6,000 words; read at a moderate rate; and define unfamiliar words in dictionaries for meaning, spelling, and pronunciation.
Ability to write complex sentences, using proper punctuation, and using adjectives and adverbs.
Ability to communicate in complex sentences, using normal word order with present and past tenses and good vocabulary.
INTENT AND FUNCTION OF JOB DESCRIPTIONS
Job descriptions assist organizations in ensuring that the hiring process is fairly administered and that qualified employees are selected. They are also essential to an effective appraisal system and related promotion, transfer, layoff, and termination decisions. Well constructed job descriptions are an integral part of any effective compensation system.
All descriptions have been reviewed to ensure that only essential functions and basic duties have been included. Peripheral tasks, only incidentally related to each position, have been excluded. Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions. In no instance, however, should the duties, responsibilities, and requirements delineated be interpreted as all-inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate.
In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.
Job descriptions are not intended as and do not create employment contracts. The organization maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.
Must know LaserPro
Additional Salary Information: Pay is contingent upon knowledge and experience within regional compensation range for the job
Forest Park national Bank is a full service community bank with a primary customer base in the residential and business districts surrounding the Bank. It was established in 1943 and has operated continuously since then. It is located in the heart of the Madison Street business district in the vibrant business community of Forest Park, Illinois, which is a growing destination place for high quality restaurants and specialty retail shops.