Processor/Closer

About the role

Under the direction of the Closer Supervisor, this position coordinates all applicable residential loan documentation to complete a residential loan transaction pursuant to guidelines set forth by Bank of Hawaii and secondary marketing investor requirements, from application to closing. Ensures timely processing and closing of loans within specified timeframes.

Responsibilities

• Analyzes all income, asset, credit, title, and property information in residential loans as per Level I Point Of Sale Guidelines.
• Validates the findings of the respective automated underwriting engine pursuant to bank and secondary marketing requirements, committing Bank of Hawaii to a loan decision. The analysis includes reviewing loan information such as credit reports, appraisal reports, tax returns, financial statements, income, and asset documentation.
• Prepares all closing documents accurately and without error pursuant to investor, bank, and regulatory guidelines. Ensures the integrity and consistency of data in the loan file and on the loan origination/processing system.
• Maintains productivity and quality of service standards, including:
  • Making decisions on loans within specified timeframes from receipt of the file in Operations.
  • Validating Point of Sale files within 7 days.
  • Ensuring underwriting validation meets Bank of Hawaii or secondary marketing investor guidelines.
  • Maintaining an exception rate on Credit Assessment Audits, Pre-Funding Validation Correction Reports, Quality Control Reports, and Investor Repurchase Reports as set by Management, targeting an error ratio of 3% or less.
  • Funding a minimum of 40 files per month.
  • Approving and closing purchase transactions within deadlines set forth on the Deposit Receipt Offer and Acceptance (DROA).
  • Closing refinance transactions within specified lock expiration dates.
• Communicates effectively, courteously, and proactively with internal customers (e.g., Processors, Loan Officers, Underwriters, Management) and external customers while maintaining quality service standards.
• Obtains thorough product knowledge of Bank and secondary marketing guidelines and compliance regulations, including but not limited to Fair Lending, Reg B (ECOA), Reg C (HMDA), Reg Z (TIL), Reg X, RESPA, and the Fair Credit Reporting Act.
• Performs all other miscellaneous responsibilities and duties as assigned.

Requirements

• Bachelor’s degree from an accredited institution or equivalent work experience.
• Minimum 3–5 years of experience processing mortgage loans or equivalent work experience.
• Must type quickly and accurately.
• Demonstrated proficiency with personal computers in a networked environment and Microsoft applications (Outlook, Word, Excel, PowerPoint) or similar software.
• Knowledge of or ability to use Bank software and systems, including Mortgage Origination Software.
• Excellent written and verbal communication skills.
• Must be analytical and detail-oriented.
• Able to manage a high volume of detailed work in a fast-paced environment.
• Able to work effectively and prioritize workload to meet deadlines.
• Must be able to work flexible hours, including holidays, weekends, and evenings as needed or assigned.
• Able to work overtime on a regular basis.

Ensures compliance with applicable laws, regulations, and Bank policies and procedures, including those related to Fair Banking, Anti-Money Laundering laws, Bank Secrecy Act, and USA PATRIOT Act.