Mortgage Loan Processor performs administrative tasks for mortgage loan processing. Collects and prepares necessary information such as loan applications, credit documents, and appraisals to process and complete mortgage loan files. Being a Mortgage Loan Processor verifies all documentation for accuracy and completeness. Tracks and monitors due dates. Additionally, Mortgage Loan Processor ensures all documents are prepared and finalized in compliance with regulatory policies and procedures. Inputs and maintains all required transaction and processing records according to procedures. Responds to inquiries. Prepares required regulatory reporting. Requires a high school diploma or equivalent. Typically reports to a supervisor. The Mortgage Loan Processor works under the close direction of senior personnel in the functional area. Possesses a moderate understanding of general aspects of the job. May require 0-1 year of general work experience. (Copyright 2024 Salary.com)
Come join our team and become a BankIowan! We are currently looking for a Mortgage Loan Originator.
We offer a competitive salary, monthly commissions, charity donation match, volunteering opportunities and many more employee perks!
Position Summary: Responsible for meeting the mortgage lending needs of the communities BankIowa serves. Must possess a thorough knowledge of all pertinent loan products and the processing, underwriting, closing, and shipping procedures of all secondary market funding sources. including Iowa Bankers Mortgage Corporation's (IBMC) processes, as well as BankIowa' s residential loan products.
Primary Accountabilities and Responsibilities:
Accountability 1: 50% Weighting. Actively solicit valid referral sources including, but not limited to, fellow employees, Realtors and real estate firms, investment advisors, accountants, attorneys, and all other centers of influence.
Accountability 2: 20% Weighting. Promptly respond to customer inquiries and mortgage applications. Effectively communicate available loan programs and accurately present loan solutions. Provide all the required disclosures and respond to IBMC's requests for loan information and required documents within the mandated timeframes. Communicate effectively with customers to identify needs and then utilize skills and tools to refer clients to the appropriate BankIowa personnel.
Accountability 3: 20% Weighting. Display diligence in keeping up to date with all loan products offered by the bank and IBMC, pertaining to underwriting guidelines, pricing, registration, and delivery. Exhibit accuracy in loan pricing and have no loans returned for repurchase. Responsible for following the bank and IBMC's policies and procedures for compliance, relative to the functions of the position.
Accountability 4: 10% Weighting. Ongoing monitoring of the loan pipeline to ensure the successful realization of deadlines for loan credit approval, final loan approval and loan closing/shipping to applicable investor, to ensure we meet -purchasing guidelines. Provide all requested information on the pipeline and closed loans in a timely manner to the Department Manager.
Secondary Duties and Responsibilities:
Education, Experience, and Other Requirements:
Qualified applicants are considered for employment without regard to age, race, color, religion, sex, national origin, sexual orientation, disability or veteran status.
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