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Consumer and Mortgage Loan Processing Specialist

2 months ago


Quakertown, Pennsylvania, United States QNB Bank Full time

FUNCTION:
The Consumer and Mortgage Loan Processing Specialist is tasked with managing the processing of consumer and mortgage loans from initiation to funding.

This role will assist the Origination and Underwriting teams by gathering essential documentation and overseeing the transaction to ensure that closing timelines are adhered to, while also fulfilling customer expectations.


GENERAL DUTIES AND RESPONSIBILITIES:


Ensure prompt and independent processing of consumer and mortgage files (in accordance with all relevant laws, regulations, and Bank policies and procedures) from initiation to post-closing.

Accurate and timely compliance with the requirements of HMDA, TRID, Reg B, and all other retail loan regulations.

Conduct initial file assessments to verify completeness and process loans through vendor Automated Underwriting Systems and Internal Underwriting systems, discussing findings with the Loan Officer and Underwriter, resolving conditions, and documenting stipulations on the commitment letter or loan approval document.

Input loan information as per the loan officer's directives and assist the loan officer in calculating Debt to Income and Loan to Value ratios.

Monitor and collect necessary documentation and resolve any outstanding loan conditions in collaboration with the underwriter and loan officers.
Request appraisals, title work, and flood certifications. Dispatch any necessary borrower notifications where applicable, including copies of appraisals.
Conduct compliance, loan quality, and fraud detection checks on each borrower.
Ensure accurate and timely management of loan fee receipts, as well as performing G/L reconciliations of those fees. Forward vendor invoices with GL's to Finance for payment. Reconcile GL and submit to supervisor and Finance.
Update loan files and input revised information into the loan origination system.
Organize the loan file in the correct sequence for boarding in the loan origination system.
Generate scheduled management reports, including the value of the pipeline.
Coordinate closings with title companies and clients.
Be accountable for delivering a positive borrower experience.
Maintain open and frequent communication with colleagues in the department to ensure a seamless customer experience. Undertake other job-related responsibilities as assigned.
Complete assigned compliance training promptly and demonstrate the ability to apply training to duties and responsibilities.
Monitor rate pricing through Freddie Mac and communicate to the Manager.

Implement necessary changes to rates, indexes, and LOS. Responsible for maintaining positive communication with customers and all other departments of QNB Bank by utilizing Q2 skills.


REQUIRED TRAINING, QUALIFICATIONS, AND EDUCATION:
Comprehensive understanding of Retail and Mortgage loan requirements.

Ability to demonstrate knowledge of real estate, automobile, and unsecured lending practices, including federal and state regulations and compliance concerning TRID and Regulation Z and other consumer regulations.

Proficiency in Automated Underwriting Systems as well as Microsoft Office, Meridian Mortgage, IDS, and Laser Pro.

Ability to prioritize multiple demands in a high-pressure environment while maintaining a professional demeanor, organization, and managing a pipeline of 30+ loans.

Ability to calculate and apply financial underwriting ratios.
A minimum of 3 years of experience in secondary market mortgage and consumer loan processing is preferred.
Must maintain a high level of accuracy.
Understand loan documentation to assist in pre and post-funding reviews.

Possess strong interpersonal and communication skills to represent the Bank positively when interacting with both internal and external customers.

A high school diploma or equivalent is required; some college education is preferred but not mandatory.
Proactively communicate loan status with customers and uphold the confidentiality of customer information.