What are the responsibilities and job description for the Loan Operations Specialist position at First Federal Savings Bank?
Why work for First Federal Bank?
Our company culture is driven by our desire to serve our members and communities, something we have done for over 100 years. Along with doing meaningful work, enjoy perks and benefits that come along with being part of Idaho’s only mutual bank – no stockholders or majority owners, just our account members!
Eligible First Federal Bank employees receive paid vacation, sick leave, and holidays; health insurance, dental insurance, and vision insurance; 401(K) retirement; educational assistance; life insurance; and long-term disability insurance.
Employees also receive paid community service hours and can participate in our Pay-It-Forward program to give back to the communities we serve. In addition, the First Federal Foundation has provided over $1.4 million to local non-profits since 2003. For a meaningful job and to be part of a community-focused team, as well as much more, apply today at www.bankfirstfed.com/careers.
Essential Duties and Responsibilities
- Prepare and send loan disclosures to borrowers and lending staff.
- Prepare and send adverse action documents to borrowers and lending staff.
- Maintain regular communication with third parties; title officers and settlement agents regarding loan documents, conditions, and follow up.
- Ensures closing and funding conditions are satisfied prior to releasing funding proceeds.
- Ensures loan proceeds balance with disbursements and funds collected from other parties.
- Release loan proceeds to appropriate parties via wire transfer, bank check, or internal transfer.
- Ensure loan documentation has been added into the electronic loan file record.
- Process security instrument documentation to perfect liens on collateral.
- Follow up on post-closing documentation from settlement agents and title companies.
- Maintain compliance with all banking acts, laws, and regulations applicable to your job function.
Non-Essential Duties and Responsibilities
- Update real estate loan disclosure procedures and job aids with changes in practice.
- Update real estate loan funding procedures and job aids with changes in practice.
- May assist in training other employees.
Qualifications Required
(Required education may be satisfied by experience and/or working knowledge)
- A High School Diploma or equivalent
- Two years of experience in banking, finance, office or clerical support, or related role.
Physical Requirements and Working Conditions
- Sitting for extended periods of time
- Ability to operate computer applications and basic business equipment
- Infrequent travel may be required for meetings and trainings
Qualifications Preferred
- One year of experience in mortgage loan processing or closing, or
- Two years of experience in real estate lending
