Sr. Mortgage Loan Processor

About the Role

Following established policies and department procedures, the Senior Mortgage Loan Processor is responsible for processing residential mortgage and home equity/HELOC loan applications while providing advanced support to Mortgage Loan Originators (MLOs), underwriters, and processing staff. This role serves as a subject matter expert within the department, assisting with training, workflow coverage, and ensuring loans are processed accurately, efficiently, and in compliance with Bank policies and regulatory requirements.

Responsibilities

• Take ownership of managing a pipeline of residential mortgage and HELOC loans from application through closing.
• Provide coverage for other team members' loan pipelines during absences, including vacations and sick leave, to ensure continuity of service and timely loan processing.
• Serve as a trainer and mentor for new or less experienced Mortgage Loan Processors by allowing them to work alongside active loan files and providing guidance on departmental processes, procedures, and best practices.
• Proactively review submitted documentation for accuracy, completeness, and potential issues that may affect loan approval or closing.
• Ensure timely processing of all assigned loan files in accordance with established departmental service level agreements (SLAs).
• Communicate effectively with borrowers, Mortgage Loan Originators, underwriters, title companies, escrow agents, and third-party vendors to obtain required documentation and satisfy underwriting conditions.
• Conduct thorough reviews and evaluations of all documentation related to the loan file to ensure compliance with Bank policies, investor guidelines, and regulatory requirements.
• Act as a liaison between MLOs, underwriters, closing agents, title companies, and other related parties throughout the loan process.
• Provide and maintain exceptional customer service to both internal and external customers through professional, responsive, and solution-oriented communication.
• Assist management with workflow prioritization, problem resolution, and process improvement initiatives as needed.
• Identify and escalate complex loan scenarios, compliance concerns, or operational issues to management in a timely manner.
• Maintain current knowledge of mortgage products, lending regulations, underwriting guidelines, and departmental procedures.
• Support department goals by promoting operational efficiency, quality control, and a collaborative team environment.

Qualifications

Education: Associate degree preferred or equivalent experience.

Experience: Minimum 3 to 5 years of mortgage lending and banking experience with good knowledge of residential lending regulations and loan processing in a multi-state lending environment.

Skills

• Advanced knowledge of residential mortgage and HELOC processing
• Strong understanding of underwriting guidelines and regulatory requirements
• Leadership, coaching, and mentoring abilities
• Excellent organizational and pipeline management skills
• Strong attention to detail and quality control
• Effective verbal and written communication skills
• Problem-solving and critical-thinking capabilities
• Ability to prioritize multiple deadlines in a fast-paced environment
• Commitment to exceptional customer service and teamwork
• PC proficiency, 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 of processing portfolio mortgage loan products

Pay

$30.00 – $34.50 per hour. Pay determined based on job-related knowledge, skills, experience, and location. This position may be eligible for a discretionary bonus.

Benefits

Cathay Bank offers its full-time employees a competitive benefits package which includes:

• Medical insurance
• Dental insurance
• Vision insurance
• Life insurance
• Long-term disability insurance
• Flexible spending accounts (FSAs)
• Health savings account (HSA) with company contributions
• Voluntary coverages
• 401(k) retirement plan