Mortgage Loan Processor

About the role

Following established policies and departmental procedures, the Mortgage Loan Processor is responsible for processing residential mortgage and home equity loan files from application through approval and document preparation. This position provides critical support to Mortgage Loan Originators (MLOs) by ensuring loan files are complete, accurate, compliant, and processed within established service standards.

Responsibilities

• Manage and maintain ownership of a pipeline of residential mortgage loan and home equity line applications.
• Demonstrate a strong understanding of mortgage loan products, underwriting guidelines, and regulatory requirements.
• Review submitted documentation proactively to ensure accuracy, completeness, and identification of potential issues.
• Process assigned loan files in a timely manner to meet departmental service level agreements (SLAs).
• Communicate effectively with borrowers, Mortgage Loan Originators, underwriters, and third-party vendors to obtain required documentation and satisfy underwriting conditions.
• Review and evaluate loan documentation thoroughly to ensure compliance with Bank policies, procedures, and regulatory requirements.
• Serve as the primary liaison between MLOs, underwriters, closing agents, title companies, and other stakeholders throughout the loan process.
• Deliver exceptional customer service to both internal and external customers while maintaining professional and timely communication.
• Maintain accurate loan records and documentation within the Bank's loan origination system.

Qualifications

• Education: High school diploma or experience equivalent.
• Experience: Minimum 1 to 3 years of residential lending or related experience with good knowledge of residential lending regulations and loan processing in a multi-state lending environment.
• Skills/Ability: Knowledge of residential mortgage lending and home equity products, Understanding of federal and state mortgage regulations, Strong attention to detail and analytical skills, Excellent organizational and time-management abilities, Effective verbal and written communication skills, Ability to manage multiple priorities in a fast-paced environment, Customer-focused mindset with strong problem-solving capabilities, PC proficient, including working knowledge of mortgage loan origination system (LOS), Microsoft Office Suite (Word, Excel, Outlook), and other mortgage banking technologies.
• Preferred: Bilingual, paperless processing experience, and strong knowledge on processing portfolio mortgage and home equity lines of credit products.

Other Details

$20.00 – $28.00 / hour Pay determined based on job-related knowledge, skills, experience, and location. This position may be eligible for a discretionary bonus.

Cathay Bank offers its full-time employees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes, coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, and flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k).

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Cathay Bank is an Equal Opportunity and Affirmative Action Employer. We welcome applications for employment from all qualified candidates, regardless of race, color, ethnicity, ancestry, citizenship, gender, national origin, religion, age, sex (including pregnancy and related medical conditions, childbirth and breastfeeding), reproductive health decision-making, sexual orientation, gender identity and expression, genetic information or characteristics, disability or medical condition, military status or status as a protected veteran, or any other status protected by applicable law.

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