Bank of Ann Arbor has an opportunity for you to join our team as a Mortgage Loan Processor. We are looking for people who have an above average ability to think logically, who are responsive to client issues and concerns, who can handle multiple tasks simultaneously, who have excellent communication skills and who are concerned about providing extraordinary customer service. Is this you? If so, you can help Bank of Ann Arbor achieve its purpose and provide the community with unmatched mortgage banking solutions and service. If you have what it takes, let’s talk.
Summary of Duties: Processes mortgage loan applications for submission to either an investor or loan committee: prepares loan documentation and closes file and posts to bank system.
- Upon loan approval, review DO/LP findings and prior to closing coordinate with Loan Officer to ensure all conditions are cleared and customer experience is uninterrupted.
- Order appraisal through Appraisal Firewall system.
- Update pipeline and enter tracking data in Encompass system to track and follow-up on files submitted to underwriting; including dates of contract to ensure that loan decisions are timely.
- Provide a commitment letter, counter offer or adverse action notice in accordance with regulatory requirements, indicating any conditions required on the Notice of Loan Approval (NOLA).
- Process and order all necessary application and closing documents, including but not limited to, payoff information, survey, insurance, condominium questionnaires, subordination requests, flood certification, verification of employment/assets and completes title commitment review, and coordinates with loan officer to ensure accuracy.
- Complete Change of Circumstance documents as necessary.
- Coordinate closing schedule with loan officer and title company.
- Once clear to close, review files for completeness, to include: receipt of payoff and insurance information, verification that all conditions have been satisfied, title requirements have been met and rate expiration dates allow for adequate processing time.
- Complete closing package, provides loan officer with preliminary closing figures to be reviewed.
- Compare loan estimate to closing disclosure and determine if any TRID tolerance violations and/or cost to cure calculations exist.
- Enter closed date into the Encompass system, register closed loan with Mortgage Electronic Registration System (MERS) online on the date of disbursement; file MERS confirmations into customer file.
- Submit input sheet and prepares general ledger tickets to fund the loan.
- Work with loan officer, Title Company, underwriter and manager to resolve post funding suspense items in a timely manner.
- Assume additional duties as required.