What are the responsibilities and job description for the Consumer Loan Processor position at The Federal Savings Bank?
Job Type
Full-time
Description
The Federal Savings Bank, a leading private bank and national lender, is seeking a Consumer Loan Processor to support the rapidly expanding the Consumer Loan Division in our Chicago, IL headquarters. The Federal Savings Bank Consumer Loan Processor is responsible for end-to-end processing of our secured loan products. They will also be cross-trained on processing unsecured loans.
This position is based in our Chicago (Logan Square) corporate headquarters. Qualified candidates must reside a commutable distance at the time of application to be considered. Employee must be able to work onsite 3 days per week.
Responsibilities And Duties
Job Requirements:
Salary Description
$50,000 - $70,000 base salary bonus
Full-time
Description
The Federal Savings Bank, a leading private bank and national lender, is seeking a Consumer Loan Processor to support the rapidly expanding the Consumer Loan Division in our Chicago, IL headquarters. The Federal Savings Bank Consumer Loan Processor is responsible for end-to-end processing of our secured loan products. They will also be cross-trained on processing unsecured loans.
This position is based in our Chicago (Logan Square) corporate headquarters. Qualified candidates must reside a commutable distance at the time of application to be considered. Employee must be able to work onsite 3 days per week.
Responsibilities And Duties
- Act as a source of contact for clients throughout the granting process of loan
- Daily utilization of Encompass LOS and automated underwriting systems (DU/LP)
- Set and maintain proper expectations with all parties on the loan file
- Analyze credit, income, assets, and collateral documents
- Analyze package for completeness to ensure loan file meets guidelines prior to submission to underwriting
- Clear loan conditions and communicate effectively with Sales, Processing, Underwriting, and Closing teams
- Order, as applicable, title, appraisal, hazard insurance, flood insurance, payoffs, and analyze prior to closing
- Review and analyze title for all requirements and address any issues, insurance coverage for mortgagee
- Maintain loan file compliance while managing pipeline of various volume levels
- Work effectively under specific time constraints and meet end-of-month deadlines
- Follow policies and procedures & supports the Bank’s goals and values
- Treat people with respect; keep commitments; inspire the trust of others, work ethically and with integrity, and uphold organizational values
Job Requirements:
- High school diploma required; 4-year college degree preferred
- 4 years of processing experience in any type of lending (Mortgage/Home Equity preferred)
- End-to-end processing experience strongly preferred
- Able to calculate income, including self-employed
- Expert knowledge of agency and investor loan guidelines
- Familiarity with Encompass or other similar loan origination software
- Proficient with Automated Underwriting (LP & DU) preferred
- Ability to manage and lead a loan process
- Great attitude, both to internal team and customers
- Favorable credit and background required
- Medical, Dental, and Vision insurance
- HSA and FSA plan options available
- Company-paid life insurance
- Partial matched 401k
- 7 paid holidays
- PTO that increases with length of employment
- Employee Assistance Plan (EAP) for employee and their household
- Employee recognition on a national scale with incentives
- Big bank capability, small-bank feel
Salary Description
$50,000 - $70,000 base salary bonus
Salary : $50,000 - $70,000
