What are the responsibilities and job description for the Mortgage Processor 1 position at Hills Bank?
SCHEDULE: Full-time; Monday through Friday (8:00 am - 5:00 pm). Average of 40 hours/week with overtime during the busy times.
LOCATION: 1009 2nd St, Coralville, IA 52241
BENEFITS: Our employees are our most valuable assets, so we invest in them with a comprehensive and competitive benefits package. Our philosophy of taking care of the customer extends to taking care of our employees so that they, in turn, can take good care of themselves and their families. Join Hills Bank and let us surprise you with even more perks!
SCOPE:
A Mortgage Processor 1 is responsible for obtaining, reviewing, and submitting the appropriate documentation for a mortgage customer's loan request. The position requires a basic to moderate understanding of procedures and policy for secondary market and Hills Bank loan programs.
A successful processor must be organized, highly detail oriented, and possess excellent time management skills in order to meet critical deadlines in a fast-paced work environment. Mortgage Processors work closely and directly communicate with lenders, borrowers, realtors, attorneys, third party vendors, and operational staff. The ability to effectively communicate with others and provide a high level of customer service is required. As part of the overall bank team, the Mortgage Processor 1 may also be requested to help with department projects as necessary.
ACCOUNTABILITIES:
Process loan transactions: (80%)
- Develops the ability to work independently and is able to prioritize workload, follow up regularly by phone/email, to meet all contingency and closing deadlines.
- Prepares and submits a complete loan file to underwriting for loan approval:
- Acquires knowledge of Fannie Mae, investor, or in-house guidelines.
- Collects all required documentation for the loan and verifies accuracy between the documentation provided and information documented in Encompass. Investigates inconsistencies and corrects data entry errors.
- Organizes documents in Encompass.
- Resubmits file to Automated Underwriting Systems.
- Follows up and satisfies all conditions on the Approval Notice
- Prepares approved file for submission to closing team:
- Requests all payoffs, including but not limited to mortgages, credit cards, and auto loans.
- Requests homeowners insurance and reviews for accuracy in coverage amounts, mortgagee clause, effective dates, etc.
- Requests verbal verifications of employment for all borrowers.
- Orders and reviews all Risk Assessment/LLR for new debt and resolves issues that may arise.
- Prepares and deliver financing release letter by the contingency date. Coordinates with lender if an extension is required.
- Takes initiative, is resourceful and works to obtain proper information/documentation needed.
- Must take ownership and accountability in seeing that all loans are processed in an efficient, accurate and professional manner with some assistance from manager.
- Provides superior customer service while building and maintaining relationships with lenders, borrowers, realtors, third party vendors, and operational staff.
Ongoing Education / Other Duties: (10%)
- Assure that all customer files are complete and in compliance with regulatory agencies and internal policies.
- Attend job related seminars, conferences and workshops to increase knowledge and proficiency.
- Perform other duties as assigned.
Quality Control: (10%)
- Assists with resolving secondary market suspensions by following up on missing documentation in the file.
- Works with supervisor, lender, other departments, investors and auditors during routine exams and audits to compile the information necessary to satisfy the investor and auditor requests.
EDUCATION AND SPECIAL REQUIREMENTS:
- An Associate's degree in a related field of study preferred.
- One to two years' experience in mortgage loan processing preferred; or equivalent combination of education and experience.
- This job requires skills needed in a typical office environment. This includes computer skills, communications skills, as well as utilization of office equipment.
- Must sign a non-compete.
EQUAL OPPORTUNITY EMPLOYER
