[Hiring] Mortgage Loan Processor II @Bank of Utah

Role Description

If our mission statement piques your interest, we encourage you to apply for the currently open position of Full-Time Mortgage Loan Processor II to work Monday - Friday. This Mortgage Loan Processor II assists Loan Officers/Originators in the origination/processing of mortgage loans. Responsibilities include:

• Maintains loan files to ensure compliance and investment quality.
• Coordinates loan closings.
• Assists in on-the-job training of Level I processors if a Level III processor is not available.

Qualifications

• 1-3 years experience in Mortgage Loan Processing
• Good knowledge of FHA, VA, Conventional, Utah Housing and non-conforming loan programs
• Good knowledge of all IRS forms and schedules and can determine acceptable cash flow with little assistance
• Good knowledge of title commitments and can resolve associated problems therewith with little assistance
• Good verbal and written communication skills
• Detail oriented
• Able to submit files to underwriting with few conditions
• High School Education
• Experienced in Windows based software
• Pass Level II Processor Test
• Experience with mortgage loan software programs
• Good interpersonal and customer service skills
• Time-management and organization skills
• Ability to work with strict deadlines
• Ability to explain technical concepts in simple terms
• Ability to work in fast-paced environment
• Willingness to learn new concepts to grow and advance

Requirements

• Performs initial file setup. If the file is not in LOS System, input the application information into the system.
• Prepares and sends initial application and disclosure package after L.O.’s approval. Very little assistance (VLA) needed.
• Analyzes initial paperwork to determine what items are needed to proceed with borrowers loan request. Procures missing items from the appropriate parties.
• Indexes all borrowers documents into the correct document types in the LOS System.
• Determines with Loan Officer/Originator (L.O.) when to request Automated Underwriting System (AUS) and requests AUS when applicable. Examines AUS feedback to ensure data coincides with documentation in file.
• Reviews, analyzes, monitors, and maintains loan files for regulatory compliance from beginning to end of loan process. (VLA)
• Prepares the proper forms and inputs correct information in the computer on all incomplete, withdrawn, denied, and approved but not accepted files. (VLA)
• Accounts for receipts and expenditures on all loan files.
• Keeps data in computer up to date on each loan file.
• Determines what documentation is acceptable to verify borrowers income. Obtains proper income documentation and examines it for accuracy and consistency. Fills out income worksheets. (VLA)
• Examines all applicable IRS forms and schedules to determine cash flow of self-employed borrowers with some assistance.
• Determines what documentation is acceptable to verify borrowers assets for down payment and closing costs. Obtains and analyzes proper asset documentation. (VLA)
• Determines what type of credit report to obtain to properly verify credit and liabilities of borrower. Obtains and analyzes proper credit documentation. (VLA)
• Orders and analyzes Title Commitment and ensures that any and all easements, exceptions, etc. can be properly dealt with. (VLA)
• Reviews purchase contracts and addendums to determine the structure of the sale. Verifies accuracy of numbers in LOS system.
• Orders and analyzes appraisal to determine if property is an acceptable risk. (VLA)
• Orders Flood Certification and reviews for accuracy. Provides Flood notice to borrower in a timely manner when required. Obtains flood insurance when applicable.
• Orders CAIVRS, IDV, GSA’s and LDP’s – if a borrower needs to be cleared, knows what action to take to determine if borrower can be cleared. May need some assistance.
• Orders case number for FHA & VA loans.
• Scrutinizes and logs all incoming documentation. Upon analysis immediately requests further documentation if necessary. (VLA)
• Communicates with “key” people (loan officer/originator, borrower, builders/realtors, vendors) involved with the file the progress, any questions, problems, etc. on the file.
• Prioritizes and reviews files on a regular basis. May need to obtain input from L.O.
• Pre-underwrites/submits loan files to underwriting. Addresses any conditions that may arise in underwriting prior to underwriting. (VLA)
• Obtains correct PMI coverage when needed.
• Meets any and all underwriting conditions.
• Obtains hazard insurance with adequate coverage.
• Coordinates loan closings with closing department, title company, borrowers, builders, realtors, etc. and completes “Loan Closing Request Form.”
• Assists L.O. in preparing construction loan files for approval by the Construction Loan Committee.
• Assists L.O. in locking loans.
• Requests Mortgage Purchase agreement on all Utah Housing Loans.
• Attendance is an essential function of the job.
• Other duties as assigned.

Benefits

• Great work-life balance, with a Monday-Friday schedule
• Competitive pay and benefits, including medical, dental and vision plans
• 401(k) plan and match up to 5 percent in our employee stock ownership program (eligibility requirements must be met)
• 12 paid bank holidays + paid time off, including paid parental leave
• Volunteer opportunities to make a difference in the communities where you work and live
• Awards and recognition to celebrate you and your colleagues for living the bank's values