What are the responsibilities and job description for the Residential Loan Closer position at Kennebec Savings Bank?
Description
POSITION SUMMARY: This position is responsible for the timely and accurate processing and closing of all residential mortgage and consumer loan applications and related files and documentation; and for supporting Bank products and services.
Key Responsibilities
Processing loan applications: Receive and process completed loan applications according to established procedures. Prioritizes among a pipeline of loans and number of tasks to ensure timely closing. Ensure the completeness and accuracy of the loan closing package by speaking with brokers and calling for proration, payoffs and other information necessary for closing; follow-up to ensure receipt. Prepares legal, regulatory and custom closing documentation if applicable within established Bank policies and procedures and applicable legal and regulatory guidelines. Generate loan disbursements via the teller computer software including bank checks, wire transfer forms and general ledger tickets. Work with the Quality Control Specialist to ensure regulations are followed and files are compliant. Follow up on missing information in a timely manner.
Communicate with borrowers as necessary; mail disclosure statements on a timely basis; request documentation or other information as needed. Compile all documentation and when complete, forward to the Loan Officer for closing. Refer problems or unusual situations to the Residential Closing Manager.
Comply with all Federal and State banking regulations and all Bank and department policies and procedures. Meet or exceed established objectives and standards for Residential Loan Processor performance.
Assist the loan processors, as necessary, to include entering application information into the loan origination system; maintaining and updating information on the Preparing and mailing applicable verification/information requests (employment, deposits, credit, etc.); monitoring until all information is received. Order property appraisal, in compliance with the Bank’s Appraisal Policy and procedures (if applicable); monitor until completed appraisal is received.
Loan account maintenance: Maintain loan account records and process changes as appropriate. Maintain loan files up-to-date and in good order.
Report production: Assist the Residential Closing Manager in the preparation of lending reports as required.
Customer service: Respond to lenders, customers, attorneys, and realtors’ inquiries concerning loan rates, products or application status. Provide prompt, courteous service to customers. Refer prospective customers to loan officers or other Bank staff members as appropriate; refer problems and complaints to the Residential Closing Manager.
Other loan processing duties: Assist with other loan processing/closing functions when necessary to meet customer or department workload needs.
Support Bank products/services: Maintain knowledge of current KSB products and services. Actively utilize as many Bank products and services as possible in order to fully understand their features and benefits and to be able to communicate effectively with customers and prospective customers.
Talk to customers and listen for “cues and clues” to determine needs; respond to customer inquiries and evaluate their needs; suggest Bank products/services to customers to meet their needs; make referrals to other Bank personnel as appropriate.
Community/public relations: Actively participate in community organizations and events. Represent the Bank in the community.
Other duties: Demonstrate reliable attendance and punctuality. Handle telephone inquiries and provide information to customers, vendors and other departments in a professional and courteous manner. Attend and participate in Bank meetings. Attend internal and external training to improve skills and knowledge relevant to the loan processing clerk position. Understand and fully comply with Kennebec Savings Bank’s Core Values. Perform other duties as required.
Requirements
EDUCATION/EXPERIENCE REQUIRED:
POSITION SUMMARY: This position is responsible for the timely and accurate processing and closing of all residential mortgage and consumer loan applications and related files and documentation; and for supporting Bank products and services.
Key Responsibilities
Processing loan applications: Receive and process completed loan applications according to established procedures. Prioritizes among a pipeline of loans and number of tasks to ensure timely closing. Ensure the completeness and accuracy of the loan closing package by speaking with brokers and calling for proration, payoffs and other information necessary for closing; follow-up to ensure receipt. Prepares legal, regulatory and custom closing documentation if applicable within established Bank policies and procedures and applicable legal and regulatory guidelines. Generate loan disbursements via the teller computer software including bank checks, wire transfer forms and general ledger tickets. Work with the Quality Control Specialist to ensure regulations are followed and files are compliant. Follow up on missing information in a timely manner.
Communicate with borrowers as necessary; mail disclosure statements on a timely basis; request documentation or other information as needed. Compile all documentation and when complete, forward to the Loan Officer for closing. Refer problems or unusual situations to the Residential Closing Manager.
Comply with all Federal and State banking regulations and all Bank and department policies and procedures. Meet or exceed established objectives and standards for Residential Loan Processor performance.
Assist the loan processors, as necessary, to include entering application information into the loan origination system; maintaining and updating information on the Preparing and mailing applicable verification/information requests (employment, deposits, credit, etc.); monitoring until all information is received. Order property appraisal, in compliance with the Bank’s Appraisal Policy and procedures (if applicable); monitor until completed appraisal is received.
Loan account maintenance: Maintain loan account records and process changes as appropriate. Maintain loan files up-to-date and in good order.
Report production: Assist the Residential Closing Manager in the preparation of lending reports as required.
Customer service: Respond to lenders, customers, attorneys, and realtors’ inquiries concerning loan rates, products or application status. Provide prompt, courteous service to customers. Refer prospective customers to loan officers or other Bank staff members as appropriate; refer problems and complaints to the Residential Closing Manager.
Other loan processing duties: Assist with other loan processing/closing functions when necessary to meet customer or department workload needs.
Support Bank products/services: Maintain knowledge of current KSB products and services. Actively utilize as many Bank products and services as possible in order to fully understand their features and benefits and to be able to communicate effectively with customers and prospective customers.
Talk to customers and listen for “cues and clues” to determine needs; respond to customer inquiries and evaluate their needs; suggest Bank products/services to customers to meet their needs; make referrals to other Bank personnel as appropriate.
Community/public relations: Actively participate in community organizations and events. Represent the Bank in the community.
Other duties: Demonstrate reliable attendance and punctuality. Handle telephone inquiries and provide information to customers, vendors and other departments in a professional and courteous manner. Attend and participate in Bank meetings. Attend internal and external training to improve skills and knowledge relevant to the loan processing clerk position. Understand and fully comply with Kennebec Savings Bank’s Core Values. Perform other duties as required.
Requirements
EDUCATION/EXPERIENCE REQUIRED:
- High school graduate.
- 1 to 3 years’ experience in mortgage or loan processing/servicing.
- Computer literate, with experience in word processing and spreadsheet applications; experience with loan processing systems desirable.
- Must be able to lift files and other documents of approximately 20 pounds.
- Must be able to read and work with computer printout reports.
- Must be able to stand or sit for extended periods of time.
- Must be able to spend extended periods of time operating a computer keyboard and working at a computer monitor.
- Must be able to use the telephone to converse with coworkers and vendors for extended periods of time; must be able to communicate clearly by telephone; must have good listening ability and skills.
- Must be able to prioritize and organize workflow; must have good attention to detail; must be able to handle multiple jobs.
- Must have the ability to think through a problem, following proper steps in finding resolution.
- Must have a high degree of ethics and maintain confidentiality of customers and accounts.
- Must be friendly, courteous and sensitive to the needs of customers and co-workers.