Loan Processor Team Lead

Salem Five is a growing regional financial services organization with a rich history of over 160 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

This position requires the ability to work in the Salem, MA office.

Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

• Support the daily workflow of loan processors and pre-closers to ensure timely and accurate loan processing.
• Serve as the first point of contact for staff questions and escalated file issues.
• Assist with pipeline management, monitoring file movement and helping team members stay on track with service level agreements (SLAs).
• Provide guidance and coaching to team members to strengthen knowledge of underwriting requirements and condition clearing.
• Partner with sales, underwriting, and closing teams to maintain strong communication and resolve file-level challenges.
• Assist with quality control checks to ensure compliance with investor, agency, and regulatory requirements (Fannie Mae, Freddie Mac, FHA, VA, USDA, etc.).
• Provide feedback to management on team performance, workflow challenges, and opportunities for improvement.
• Contribute to a customer-focused culture that balances speed, compliance, and accuracy.
• Assist management with projects and department initiatives as needed.
• Demonstrates compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position.
• Regular attendance is essential to this position.
• Assumes additional responsibilities as requested.
  
  

Supervisory Responsibilities

• Act as a peer leader by supporting and guiding processors and pre-closers.
• Help train new staff members and share best practices with the team.
• Monitor daily workloads and assist in balancing files across the team.
• Escalate ongoing or complex issues to the SVP of Mortgage Operations when appropriate.
• Encourage a collaborative environment between sales, underwriting, and operations staff.
  
  

EDUCATION And/or EXPERIENCE

• High school diploma or equivalent required; college degree preferred.
• 3 years of mortgage loan processing experience.
• Previous experience serving as a senior processor, mentor, or team lead preferred.
• Strong understanding of mortgage loan products, agency/investor guidelines, and regulatory requirements.
• Ability to prioritize and manage multiple files in a fast-paced environment.
• Effective communication and interpersonal skills for working with peers and other departments.
• Strong problem-solving skills with attention to detail and accuracy.
• Proficiency in loan origination systems (LOS), preferably Encompass, and other mortgage technology tools.
• Commitment to delivering excellent customer service while maintaining compliance standards.
  
  

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is frequently required to sit; use hands to finger, handle, or feel; and talk or hear. The employee is occasionally required to stand, walk, and reach with hands and arms. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision.

Benefits/Incentives: Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more.

Salary Range: $50,000 - $65,000

The pay range is the lowest to highest compensation we reasonably in good faith believe we would pay at posting for this role. We may ultimately pay more or less than this range. Employee pay is based on factors like relevant education, qualifications, certifications, experience, skills, seniority, location, and performance. This range may be modified in the future.

Ready to apply? If this job sounds like a fit for you, then click on Apply/Apply Now in this posting. We look forward to talking with you.

Qualified candidates may also submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970.

No unsolicited resumes accepted from agencies.