Mortgage Loan Processor II

About the role

The Mortgage Loan Processor II role involves managing a pipeline of mortgage applications, ensuring timely closure of loans in compliance with regulatory requirements. Key responsibilities include reviewing applications, assembling files, issuing disclosures, coordinating verifications, and updating customers.

Responsibilities

• Manage Applications: Review mortgage applications for completeness, collect required paperwork, and assemble files for underwriting.
• Route Files: Assign new internet-received mortgage applications to loan officers and generate unique loan numbers.
• Send Initial Disclosures: Prepare and issue early loan disclosures while strictly meeting TRID guidelines and compliance.
• Execute Re-Disclosures: Complete file re-disclosures for locked loans or changed circumstances in compliance with TRID timelines.
• Career Development: Contribute directly to the continuous development and improvement of bank lending policies and procedures.
• Assemble Closing Packages: Prepare closing packages tailored to Secondary Market Investors and Byron Bank in-house loans.
• Finalize Numbers: Partner with local title companies to verify final numbers and ensure timely closing package delivery.
• Verify Employment: Complete mandatory 10-day Verbal Verifications of Employment (VVOE) prior to mortgage closings.
• Report HMDA Data: Complete and log final Home Mortgage Disclosure Act information in Wolters Kluwer software.
• Post-Close Review: Thoroughly process signed closing packages, track collateral, balance loan tickets, and record documents.
• Audit Insurance: Review final insurance documents to verify accuracy of the required mortgage clauses.
• Load Core Systems: Successfully load finalized and booked loan data directly into our core banking system.
• Fund Grant Programs: Prepare complex funding packages for Illinois League Down Payment Plus grants and IHDA.
• Manage Investor Sales: Facilitate the preparation of funding packages for Servicing Sold Loans.
• Track and Image Documents: Image and track all recorded mortgages and title policies while following up on missing items.

Requirements

• Organizational Skills: Meticulous organizational habits with the ability to spot data discrepancies instantly.
• Communication: Excellent interpersonal and communication skills to confidently guide borrowers and mortgage loan officers.
• Adaptable Work Style: Proven ability to work successfully both independently and collaboratively as part of a close-knot team.
• Perform Under Pressure: Ability to work effectively under high stress levels, managing frequent interruptions and tight, rapidly changing deadlines.
• Software Proficiency: High degree of computer/technology literacy and the ability to master new technology/software.
• Industry Knowledge: General knowledge of the mortgage industry with a deep understanding of appropriate regulations, guidelines, and underwriting standards.
• Product Knowledge: Solid comprehension of residential mortgage loan products and strict regulatory requirements.

Qualifications

• High school diploma or equivalent.
• 2 or more years of direct experience in the mortgage loan processor role.

Benefits

• Health Insurance (Medical, Dental, Vision)
• 401(k) with match
• Health savings account
• Life insurance
• Paid time off (vacation, sick, volunteer)

Pay

The anticipated hiring range for this position is $20.50-$25.00 per hour, which reflects what we reasonably expect to pay for candidates who meet the standard qualifications for the role. Actual base pay will vary depending on job-related knowledge, skills, credentials, experience, and location.