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Mortgage Loan Processor II

3 months ago


Casper, United States First Interstate Bancsystem Inc Full time
**If you are a current FIB employee, please apply through the Career Worklet in the Employee Portal

This position is located at our Casper, WY, Rapid City and Sioux Falls, SD Downtown branch.

What's Important to You

We know your career is just one aspect of a meaningful, complex, and demanding life. That's why we designed our compensation and benefits package to provide employees and their families with as much choice as possible.
  • Generous Paid Time Off (PTO) in addition to paid federal holidays.
  • Child Care Assistance Program for eligible dependent(s).
  • Exercise reimbursement program for employees.
  • The health and happiness of the places we call home matter to us. Learn a little more about what we do for the communities we serve and why we want YOU to be a part of it.
We encourage you to apply. Reach for what you want and tell us why your work ethic and willingness to learn make you a natural fit for #TeamFirstInterstate.

SUMMARY

Assist in the loan origination process from the time the file is received from the Mortgage Loan Officer Assistant through underwriter review and up to hand-off to the Mortgage Loan Closer. Perform and in-depth review of the loan file to gather an understanding of the transaction and verify it meets established standards for completion, accuracy, and compliance. Review and validate all loan documentation, update the information in the appropriate software, review the loan for Investor eligibility and prepare the file for underwriting. Work with the MLOA and MLO to obtain documentation to clear Underwriting Conditions for Closing. Provide exceptional client service while meeting established Service Level Agreements and upholding First Interstate Bank values. A fully proficient Mortgage Loan Processor II is capable of processing all the following loan types and/or property characteristics with very little or no assistance: Conventional Fannie Mae / Private Mortgage Insurance / Manufactured Home / Investment Property / Located in SFHA / Self-employed, all schedules / Outside investor / Rural Development / FHA / VA / FIB Portfolio / Non-Delegated / Non-conforming / Construction to Permanent / Trusts / All-footprint State Agencies

ESSENTIAL DUTIES & RESPONSIBILITIES include the following: Other duties may be assigned.
  • Perform an in-depth review of the loan application received from the Mortgage Loan Officer Assistant to gather an understanding of the transaction and verify that it meets established standards for completion, accuracy, and compliance with all Mortgage Regulations
  • Request additional documentation, as required, from Mortgage Loan Officer Assistant or MLO to fill any omissions in the file.
  • Review signed disclosures upon receipt to ensure timeliness with regulatory requirements are met and disclosures are signed/dated appropriately and Intent to Proceed is fully documented.
  • Update and maintain loan files and perform pipeline management, as well as follow up on 3rd party services, to ensure movement of applications.
  • Maintain records of loans in process.
  • Order 3rd party employment/income verifications (as applicable).
  • Analyze all documentation, as it is received, to determine impact on loan viability and bring any concerns or issues to the attention of the MLO and/or Underwriter.
  • Based on 3rd party verification, review income, required and available reserves, required cash to close, etc., as required by loan program, investor and/or guarantor.
  • Input / update data in various software / systems for credit and automated underwriting and verify all electronic information for the loan file.
  • Monitor compliance throughout the loan file.
  • Scan to the electronic file all follow-up documentation, as it is received.
  • Research appropriate agency and/or investor guidelines and/or government regulations to ensure loan meets requirements for insurability/salability.
  • Submit complete credit packages to underwriting to obtain approvals with minimal conditions.
  • Upon receipt of underwriting conditions, if straight-forward, obtain documentation directly from the source or work with MLO and MLOA to obtain documentation for re-submission or final submission to the UW within requires Service Level Agreement.
  • Provide exceptional turn-time on a high volume of mortgage loan transactions.
  • Mentor Mortgage Loan Processor I.


QUALIFICATIONS

To perform the job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION & EXPERIENCE

Bachelor's degree (B. A.) from a four-year college or university; or one to two years related experience and/or training; or equivalent combination of education and experience.

LANGUAGE SKILLS

Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.

MATHEMATICAL SKILLS

Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

REASONING ABILITY

Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.

PHYSICAL DEMANDS

While performing the duties of this job, the employee is regularly required to use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee frequently is required to walk, sit, and climb or balance. The employee is occasionally required to stand and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, and ability to adjust focus.

WORK ENVIRONMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The noise level in the work environment is usually moderate.

**If you are a current FIB employee, please apply through the Career Worklet in the Employee Portal