What are the responsibilities and job description for the Residential Mortgage Processor position at Paducah Bank?
Position Title: Residential Mortgage Processor
Department: Residential Mortgage Services
Reports To: Director of Consumer and Mortgage Relationships
General Summary/Purpose
The Residential Mortgage Processor position exists to provide full administrative support in the Residential Mortgage Services department, allowing for the timely processing of residential mortgage loans and the highest quality of customer service to Paducah Bank’s clients.
Key Duties And Responsibilities
#1 - Assist in processing loan applications and overall document preparation for residential mortgage loans including conventional, construction, USDA, VA, FHA, and in-house specialty loans. The processor will be the point of contact for the client once the Relationship Manager has determined the best product and explained the loan process. Duties will include collecting financial data from the client, reviewing that data provided by Relationship Managers and clients, such as paystubs, w2’s, tax returns as well as employment length and financial statement accuracy. Will complete preliminary documentation including loan estimates and early disclosures. Ensure all documentation is accurate and in loan file prior to underwriting. Will work closely with Relationship Managers and Underwriters to ensure Paducah Bank residential loan process is efficient, timely and without errors. Percentage of time: 50%
#2 - Prepares closing loan packages necessary for individual loan types in accordance with Bank and Investor guidelines as well as Secondary Marketing commitments and requirements, while ensuring the timely closing of approved mortgage loans. Contacts the pertinent parties to obtain documentation necessary to close mortgage loans. Manages and resolves any concerns, problems, and documentation issues. Monitors loan status on a continual basis to ensure that timely and quality standards are achieved and maintains accurate closing schedules. Complies with Bank Policies and Procedures, as well as regulatory compliance. Percentage of time: 40%
#3 - Other administrative tasks and functions related to high-quality client service and relationship management of existing residential mortgage department clients. Such tasks may be assigned to specifically support the department or the overall operation of the bank. Percentage of time: 5%
#4 - Active involvement in product and service cross-sell opportunities, and overall bank culture and promotion. Percentage of time: 5%
Department: Residential Mortgage Services
Reports To: Director of Consumer and Mortgage Relationships
General Summary/Purpose
The Residential Mortgage Processor position exists to provide full administrative support in the Residential Mortgage Services department, allowing for the timely processing of residential mortgage loans and the highest quality of customer service to Paducah Bank’s clients.
Key Duties And Responsibilities
#1 - Assist in processing loan applications and overall document preparation for residential mortgage loans including conventional, construction, USDA, VA, FHA, and in-house specialty loans. The processor will be the point of contact for the client once the Relationship Manager has determined the best product and explained the loan process. Duties will include collecting financial data from the client, reviewing that data provided by Relationship Managers and clients, such as paystubs, w2’s, tax returns as well as employment length and financial statement accuracy. Will complete preliminary documentation including loan estimates and early disclosures. Ensure all documentation is accurate and in loan file prior to underwriting. Will work closely with Relationship Managers and Underwriters to ensure Paducah Bank residential loan process is efficient, timely and without errors. Percentage of time: 50%
#2 - Prepares closing loan packages necessary for individual loan types in accordance with Bank and Investor guidelines as well as Secondary Marketing commitments and requirements, while ensuring the timely closing of approved mortgage loans. Contacts the pertinent parties to obtain documentation necessary to close mortgage loans. Manages and resolves any concerns, problems, and documentation issues. Monitors loan status on a continual basis to ensure that timely and quality standards are achieved and maintains accurate closing schedules. Complies with Bank Policies and Procedures, as well as regulatory compliance. Percentage of time: 40%
#3 - Other administrative tasks and functions related to high-quality client service and relationship management of existing residential mortgage department clients. Such tasks may be assigned to specifically support the department or the overall operation of the bank. Percentage of time: 5%
#4 - Active involvement in product and service cross-sell opportunities, and overall bank culture and promotion. Percentage of time: 5%
