The Retail Lending Processor is responsible for the processing of consumer loans, HELOCs and mortgages. They process the assigned loan application files according to portfolio/secondary market standards, Bank policy processes and government regulations. Must be knowledgeable on all Retail Lending products and program requirements.
Opening:
- Track and assign all incoming applications from multiple systems and sources.
- Verify application information in loan operating system compared to file documentation.
- Order credit report, flood, appraisal, and title search, as necessary.
- Confirm loan rate and terms meet Federal and Bank guidelines.
- Prepare and deliver all Federally required disclosures within required timeframes.
Loan Processing:
- Communicate with originator, branch personnel and/or borrower regarding necessary supporting documentation/information to complete file.
- Manage documentation received from borrower, originator and/or attorney, completing all checklists as necessary.
- Perform preliminary review of loan documentation and submit to underwriting.
- Receive and process pre-closing conditions from borrower, originator and/or attorneys.
- Ensure a consistent and proactive approach to clearing prior-to-close conditions
- Effectively communicate with attorneys, appraisers, and other vendors.
- Process all fees upon receipt.
- Review appraisals, sales contracts and/or purchase agreements, as applicable.
- Review all signed documents back from borrower for completeness.
- Review title policy, tax information and hazard insurance.
Pipeline Management:
- Proactively manage assigned pipeline.
- Monitor pipeline on a daily basis for rate lock expiration dates, aging loan documentation and compliance.
- Update notes in systems on a consistent basis.
Closing:
- Coordinate loan closing with attorney, customer and/or branch personnel.
- Maintain closing calendar with accurate information.
- Prepare loan closing documents according to legal requirements, when staffing requirements necessitate it.
- Scan all necessary documentation into Loan Operating system, verify all images and complete loan checklists.
- Request and process funds for loans on disbursement date.
- Follow up with attorney on outstanding non-recorded documents.
- Work in conjunction with Post Closing /QC Processor on outstanding loan deficiencies.
Ongoing:
- Adhere to department established workflow and procedures.
- Effectively utilize lending processing systems, electronic data storage and automated underwriting systems.
- Monitor Mortgage Documents Mailbox and Consumer Lending Mailbox for incoming documents.
- Maintain high level of customer service and loan integrity.
This position is based out of the North Street Office - 126 North St. Danbury, CT
37.5 hours per week
Qualifications
Education
Preferred
High School or better.
Experience
Required
2-5 years:
Experience Processing FNMA/FHLMC Loans
Preferred
2-5 years:
Familiarity with Construction Lending
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)
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