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Under direct supervision, uses knowledge and skills obtained through training and experience to process loans that may be to individuals, trusts or entities and complete tasks associated with preparation of the loan approval and/or closing documents. Follows established procedures to perform a variety of tasks requiring some evaluation, originality, or ingenuity in making decisions. Recommends solutions to moderately complex problems and refers more complex issues to a higher level. May contact financial advisors and clients to obtain, clarify, or provide facts and information and/or identify, research, and resolve problems.
Job Responsibility:
Obtains required documentation and processes more complex loan applications
Orders credit verifications and third-party services
Tracks receipt of and completeness of legal documents, loan, and financial information
Follows up on missing documentation
Verifies loan applications and supporting documents for accuracy and completeness
Assists financial advisors and clients with moderately complex inquiries or problems
May prepare and compile documents for loan closing
May prepare or review disclosures for accuracy including Good Faith Estimates of closing costs, Regulation Z disclosures, and other disclosures required by consumer regulation
May perform initial credit analysis submission via automated underwriting, as requested
May schedule and coordinate loan closings and clear loan proceeds for disbursement
May prepare compliance and accounting records and reports, as required by management and regulatory agencies
May perform routine loan calculations
May perform pre-closing, post-closing, or whole loan due diligence review of legal agreements and other closing documents
May prepare financial advisor and client communications regarding loan and loan terms
May be responsible for reviewing property and liability insurance to ensure it complies with bank policy and procedure
May independently prepare data input sheets and provide required information for loans to be boarded on the banks servicing system and ensure all loan coding is correct
May work with attorneys and other financial or legal resources to obtain the correct, accurate documents to fully protect the financial institution’s interests in the credit relationship
Maintains currency in loan processing policies and procedures
Performs other duties and responsibilities as assigned
Requirements:
Associate’s degree and a minimum of two (2) years of loan processing experience
Bachelor’s degree preferred
An equivalent combination of education, training, or experience
Knowledge of intermediate level concepts, practices, and procedures of loan processing and documentation
Knowledge of basic principles of banking and finance
Knowledge of financial markets and products
Knowledge of Fannie Mae, and Freddie Mac underwriting guidelines
Knowledge of multi-state real estate, closing, and title practices
Knowledge of Federal and state lending laws
Knowledge of loan origination software packages
Skill in processing more complex loan applications
Skill in verifying loan applications and supporting documents for accuracy and completeness
Skill in preparing loan approval and/or loan closing packages
Skill in preparing records and reports
Skill in performing routine loan calculations
Skill in operating standard office equipment and using required software applications
Solid analytical and problem-solving skills
Skill in reviewing and interpreting residential and consumer documentation and terms
Ability to read, interpret, analyze, and apply information from loan application documents
Ability to interpret and apply policies
Ability to organize, manage, and track multiple detailed tasks and assignments with frequently changing priorities in a fast-paced work environment
Ability to communicate effectively, both orally and in writing
Ability to work independently as well as collaboratively within a team environment
Ability to handle stressful situations and provide a high level of service in a calm and professional manner
Ability to establish and maintain effective working relationships