Mortgage and Consumer Loan Processor-Closer I en Pennian Bank

Description

This position is eligible for hybrid work - combining time spent working in our office in Mifflintown, Pennsylvania and remotely from home. 

General Responsibilities

Responsible for performing a variety of duties to support the Bank’s Retail and/or Residential Mortgage Lending function. The position will have a primary focus on either Residential Mortgage or Consumer Loan processing, closing, booking, funding documentation and post-closing follow up. Responsible for coordinating workload to ensure timely flow of files from processing through loan closing; reporting pertinent information to the immediate supervisor; responding to inquiries or requests for information and working with other departments within the bank for funding and booking of new loans.

Essential Duties

1. Regular attendance is required and will vary by position. For your specific schedule and hours, please discuss with your supervisor or division head. These hours are determined at the beginning of the year by your supervisor and are submitted to HR on the Budgeted Hours report. Based on need, the Bank does reserve the right to adapt at any point.

2. Performs a variety of duties to support the Bank’s Retail and/or Residential Mortgage function of which the following are illustrative: 

a. Review and verify loan application and file documentation such as credit, income and assets.

b. Request and obtain required loan documentation prior to underwriting.

c. Prepare and issue initial loan disclosures, including loan estimates within the regulatory timing guidelines.

d. Prepare and submit loans to underwriting for either the mortgage or consumer lending platforms.

e. Reviews file for outstanding conditions and clear to close from the underwriter

f. Obtains the Final Verification of Employment, Home Owners Insurance, Flood Insurance and Private Mortgage certificate (if needed).

g. Coordinates date, time of closing with retail branch or settlement agent as applicable.

h. Issues Closing Disclosures to borrowers to meet regulatory timing for delivery prior to closing.

i. Balances Closing Disclosure and wire amount (residential mortgages) with settlement agent.

j. Sends closing doc package to settlement agent or branch closer.

k. Maintains regular correspondence with the Loan Originator, including them in all emails to borrower.

l. Tracks delivery of Closing Disclosures to ensure they were opened in a timely manner.

m. Ensures all documentation, including all versions of Closing Disclosures are stored in the loan origination software.

n. Prepares requests for funding wires, payoffs, etc.

o. Communicates with Loan Operations during the booking process to ensure proper loan funding.

p. Reviews loans post funding in Premier to ensure the loan funded appropriately.

q. Prepares all required checklists

r. Reviews and scans closed loan packages to Encompass.

s. Ensures portfolio original docs are sent to Loan Operations for storage.

t. Completes MERS registrations and transfers for sold loans.

u. Runs UCD through Fannie Mae and Freddie Mac for sold mortgages.

v. Uploads loan files to investors, keeping track of lock expirations and delivery requirements per investor.

w. Responds to investor suspension requests, coordinates with other team members for requested documentation.

x. Prepares Note Allonges and Goodbye Letters (if required)

y. Ships required original notes, mortgages and title policies to investors.

z. Tracks outstanding final documents and contacts necessary parties to obtain post-closing.

aa. Completes an extensive review of new and existing retail and/or residential mortgage loan files to ensure that all necessary documents are present and in compliance with various regulatory agency policies and guidelines and Pennian Bank policies.

bb. Reviews loan documentation pre and post-closing for completeness, accuracy, and critical data, e.g. signatures, blanks, missing pages, financing statement expiration, rate change dates, fees, etc.

cc. Reviews loans for approval in conformance with loan officer’s authority.

dd. Provides information for and assists in the preparation of various retail and/or residential mortgage loan reports as directed.

ee. May assist with loan settlements.

ff. Types correspondence, memos, forms, tables, reports, etc.; utilizes word processing equipment/software to prepare documents as appropriate.

gg. Maintains the division's record keeping and filing systems; classifies sorts, and files correspondence, forms, reports, and other documents; maintains records and files, often of a confidential nature.

3. Coordinates specific work tasks with other personnel within the division as well as with other divisions and departments in order to ensure the smooth and efficient flow of information.

4. Abides by the current laws and organizational policies and procedures designed and implemented to promote an environment, which is free of harassment and other forms of illegal discriminatory behavior in the work place.

5. Cooperates with, participates in, and supports the adherence to all internal policies, procedures, and practices in support of risk management and overall safety and soundness and the Bank’s compliance with all regulatory requirements, e.g., TRID (Truth in Lending Act -RESPA Integrated Disclosures), Community Reinvestment Act (CRA), Bank Secrecy Act (BSA), Equal Credit Opportunity Act, etc.

6. Reports pertinent information to the immediate supervisor as requested, or according to an established schedule; compiles information as necessary or as directed and provides data to appropriate Bank personnel.

7. Responds to inquiries relating to his/her particular area, or to requests from customers, other Bank personnel, etc., within given time frames and within established policy.

Requirements

Basic Qualifications

Education/Training: A high school diploma or equivalent with an emphasis in a business curriculum; specialized bank credit document education/training.

Skill(s):  Proficient reading, writing, grammar, and mathematics skills; proficient interpersonal relations and communicative skills; proficient keyboarding skills; ability to operate PC equipment and sufficient knowledge to use PC software or other applicable software; knowledge of various office machines; a comprehensive knowledge of all bank forms and documents used in providing retail and/or commercial lending services; a working knowledge of bank loan products and services, along with the operating policies and procedures that impact these products; visual and auditory skills; some knowledge of current lending regulations.

Experience: A minimum of one (1) year of experience in related positions normally required.