What are the responsibilities and job description for the Loan Processor Trainee - Loan Processor 1 position at Murphy-Wall State Bank?
Company Overview
Murphy-Wall State Bank and Trust Company is a historic community bank with over 150 years of dedicated service. With six banking locations, the bank provides a wide range of financial services, including mortgage lending, commercial and consumer loans, and digital banking solutions. Committed to serving its community, Murphy-Wall prioritizes customer satisfaction and responsible banking practices.
Job Overview. Primary duties include but are not limited to processing of consumer loans and monitoring Online Applications with supervision. Sets up and maintains complete and accurate files on each application before forwarding to the loan officer for approval; assembles proper loan documentation for loan packages; and prepares note modifications and/or extensions. Stays current with regulations and laws by completing required training and attending educational opportunities.
Organizational Environment. The Loan Processor acts as staff primarily to the Loan Officers but may be given related duties outside the lending department of the bank, especially when located in a branch environment. May work evenings and weekends. May travel to other bank facilities periodically. Must be a team player.
Responsibilities. This list is not exhaustive. The bank, through its President, CEO, and executive management, reserves the right to assign any additional duties necessary to meet the needs of our customers, Board of Directors, and/or shareholders.
Customer Service
- Serve as initial point of contact for the program.
- Acts as a liaison between borrower and lender.
- Provide customer with timely and periodic status updates of their loan application.
- Returns all inquiry calls within one business day.
- Customer Intake and Data Entry
- Collects required documentation from applicants and follows up on missing items
- Establishes, maintains, and updates files, databases, records, and/or other documents for recurring internal reports.
- Orders credit reports, title reports, and verification documents. Initiates the ordering of Credit Reports, Title Policies, Appraisals, Flood Determinations and Verification documents.
- Monitors Online Loan Applications
- Scan and File Loan Documents
- Assists with Early Disclosures on Residential Loans
- Schedule Appraisals and Title Work for Consumer Loans
- Other branch duties as required
File System Management
- Compiles documents for customer files and enters intakes to loan origination software for processing and assessment.
- Assures all customer files are complete and in compliance with regulatory agencies and internal policies.
- Ensures customer privacy, security of files and appropriate staff access.
- Review Control Sheets
- Administrative Support
- Prepares commitment letter(s), denial letter(s), and cancels files when necessary.
- Maintain pipeline report and notifies management of status as needed.
- Processes the documents received for each file, verifying the accuracy and completeness of each document.
- Prepares fund request documents for wiring funds to closing.
- Assists with HMDA collection and monitoring.
- Makes recommendations for procedural changes to increase efficiency.
- Other duties as required.
Supervisory Responsibilities: This job does not require supervision of others.
Goals:
- Process Consumer Loans with 90% Accuracy
- 0 Scanning Mistakes
- Send Online Loan Applications to Loan Officer within 24 Hours of receiving
- Meet Deadline for Scheduling Appraisals 90%
- Meet Deadline for Scheduling Title Work 90%
- Understand Loan Policy
Pay: $17.00 - $18.50 per hour
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee discount
- Health insurance
- Life insurance
- Paid time off
- Retirement plan
- Tuition reimbursement
- Vision insurance
Application Question(s):
- How many years of Desktop Underwriter, Fusion Originate Mortgagebot, and other industry standard software relating to Loan Processing do you have?
- Please provide a summary of previous banking experience:
- Are you able to work bank operation hours (Monday thru Friday 8AM-5PM and a rotation of Saturday shifts 8AM-12PM? If not, please indicate restrictions:
- Do you currently have a NMLS license?
Education:
- Bachelor's (Preferred)
Experience:
- Accrual accounting: 1 year (Preferred)
- Financial services: 1 year (Required)
- Loan processing: 1 year (Preferred)
- Customer relationship management: 1 year (Preferred)
- Microsoft Office: 1 year (Required)
Work Location: In person
Salary : $17 - $19