Residential Loan Processor (Loan Support)

About the role

The Residential Loan Processor prepares loans for closing, ensuring all current regulatory requirements are met. This role involves close collaboration with Residential Processors to finalize closing documents for residential portfolio loans, including Construction Loans, and monitoring all steps prior to funding. The position requires an understanding of table funding for loans sold to the secondary market and the ability to complete this process.

Responsibilities

• Review HMDA, CRA, RESPA Loan Estimate and Closing Disclosures, OFAC, and other banking regulations as needed for the loan type.
• Communicate with all applicable parties involved in the loan process.
• Work with third-party providers such as appraisers, surveyors, attorneys, flood determination companies, etc.
• Coordinate with attorneys' offices and title companies to balance loan files and meet closing dates.
• Ensure loan requests from lenders comply with bank loan policy, procedures, and regulations.
• Prepare loan documents using Laser Pro doc prep software for Portfolio and Construction Loans, including escrow calculations and explanations.
• Prepare cross-application entries and wires to disburse loan proceeds and ready files for booking.
• Book executed loans through the interface from Laser Pro to Jack Henry or manually when necessary.
• Balance secondary market loan files (table fundings).

Requirements

• High School diploma or equivalent.
• Proficiency in various software systems (e.g., Banking, Loan Processing Systems, Word, Excel).
• Ability to operate email, internet, fax, phone, calculator, and typewriter.
• Knowledge of loan regulatory compliance regulations.
• Typing and filing skills.

Skills

• Basic language skills to write and speak clearly, effectively, and appropriately for business standards.
• Ability to perform mathematical calculations necessary for job duties.
• Sound decision-making skills and the ability to recognize and address potential problems.