First Federal Bank Mortgage Loan Processor in Kansas City, Kansas
This job was posted by https://www.kansasworks.com : For more information, please see: https://www.kansasworks.com/ada/r/jobs/11450183
Join the family of First Federal Bank of Kansas City and be part of changing the banking industry where customers are cared for and treated like part of the family. We believe in taking care of our employees so they in turn are compelled to deliver the utmost customer service.SUMMARY
First Federal Bank of Kansas City is looking for a Mortgage Loan Processor to join our growing, fast-paced team. This position may have the ability to work remotely-depending upon the experience of the incumbent.Mortgage Loan Processors verify, compile, file and enter information into Encompass for mortgage loans by performing the following duties:
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following:
Responsible for promotion and delivery of quality internal and external customer service.
Makes introductory calls to Borrowers.
Reviews residential loan application files to verify that application data is complete and meets establishment standards, including type and amount of mortgage, borrower assets, liabilities, and length of employment.
Reviews files for all initial disclosures signed by borrower(s).
Reviews files for all required disclosures signed by loan representatives.
Sends necessary documentation to employers', depositories and landlords.
Updates credit reports through automation, if required.
Calls specified companies to obtain property title reports, surveys, and appraisals.
Updates verifications as they are received on the Encompass system.
Processes and submits, with full documentation, the mortgage loan application file for underwriting approval prior to expiration date. A credit package is also sent to the title insurance companies for approval. Prepares 1003, 1008, and PMI application and packaging credit documentation. Computes PMI premiums and apply for coverage as required to secure MI Cert.
Performs a preliminary review of all new loan files received. Reviews qualifying factors, knows documentation needed for approval under FNMA/FHLMC, FHA and VA guidelines, evaluates self-employed borrowers to determine income for qualifying purposes. Requests these items from the loan officers or borrowers.
Has knowledge of underwriting practices.
Will be knowledgeable on all loan products offered by First Federal Bank.
Composes letters for resubmission files on any items that need further explanation to the correspondent lender's underwriting department.
Submits approved mortgage loan files to loan closers for settlement. Obtains title work, surveys, final inspection if applicable, homeowners' insurance, and payoffs on refinances. Ensures all required loan conditions met, prior to closing.
Answers inquiries on loans in process from Loan Officer, buyers, sellers, Realtors, and title companies.
Works directly with borrowers by telephone, letters or email to obtain credit information needed to process loan.
Cancels files that are denied or withdrawn. Updates Encompass with date canceled and completes all HMDA information.
Complies with all applicable banking laws, bank policies and federal regulations.Other duties may be assigned.
QUALIFICATIONS To perform this 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 th e essential functions.
EDUCATION and/or EXPERIENCE
High school diploma or general education degree (GED); and three to five years related experience in a financial institution, consisting of setting up and tracking loans. Knowledge of current FNMA/FHLMC, FHA and VA underwriting guidelines.
Ability to read and interpret documents such as operating and procedure manuals. Ability to write letters and business correspondence. Ability to speak effectively to customers or employees of organization.
Ability to calculate figures and amounts such as interest, payments, discounts, commissions, and percentages. Ability to accurately complete and reconcile General Ledger Accounts for loan income.
Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
OTHER SKILLS AND ABILITIES
Computer/Microsoft Word/Excel experience.
PHYSICAL DEMANDS The physical demands described here are representative of those that must b