POSITION SUMMARY

The Mortgage Loan Processor position processes and reviews all residential mortgage files to ensure adherence to regulatory compliance, secondary market guidelines, government agency requirements, and Bank policy. The information received from the Loan Officer is examined for completeness and sufficiency. Additional documentation is requested by Processor as necessary to complete the loan for underwriting. Once the loan is underwritten, this position obtains necessary documentation and information as required by the Underwriter, to insure the loan closes in the allotted time frame.

KNOWLEDGE OF:

• Strong oral and written communication skills
• Secondary market guidelines
• Regulatory compliance
• Bank policies
• Strong organizational skills

EDUCATION AND TRAINING:

• Requires High School diploma.
• Requires 2 or more years of related banking experience.
• 2 or more years of experience in Loan Processing (CONV/FHA/VA/USDA) preferred.
• Requires previous experience in processing and underwriting all loan types.
• Requires knowledge of Microsoft Office.

• Organize and review initial information submitted within allotted time frame.
• Order the credit report updates, title commitments, verifications, and other services required by the loan program.
• Contact applicable parties to obtain additional documentation when needed. This may include borrower, seller, real estate agents, attorneys, ect.
• Follow up, validate, and review verifications, appraisal, flood certification, private mortgage insurance certificate, credit report, HOA/Condo letters, home owners insurance, title work, and any other documentation required by the loan program. Communicate problems and concerns with the Loan Officer and Underwriter.
• Calculate monthly income and debt, debt-to-income ratios, loan-to-value ratios, and sufficient funds to close with appropriate reserves as required by the loan program and investor.
• Upload all verified documentation into the loan origination system.
• Follow all investor and specific loan program guidelines.
• Field phone calls from mortgage customers and formulate the appropriate action needed to help them and enhance their relationship with Busey Bank. This includes assisting the Loan Originator with promoting Busey products to meet cross-sell goals.
• Assist the Loan Officer, Underwriter, and Closer with QC audit violations or any Post-closing investor corrections.