What are the responsibilities and job description for the Retail Lending Loan Processor position at Webster Five?
Base Compensation Range:
Base salary is one component of total compensation. Employees may also be eligible for an annual bonus and some roles may also be eligible for overtime pay. The above represents the expected base compensation range for this job requisition. Ultimately, in determining pay, we consider various factors including, but not limited to, skills and experience.
POSITION SUMMARY: Ensures timely and accurate processing of residential mortgage loans by preparing and verifying documentation and monitoring data flow. Manages a dynamic loan pipeline with efficiency and accuracy, assists in completing the mortgage process, and supports operational excellence through process improvements and exceptional customer service.
PRINCIPAL RESPONSIBILITIES:
- Guides residential mortgage loan applicants through the application process with professionalism and confirms the accuracy and completeness of data received, including employment, income and assets.
- Focuses on timely processing of loans and commitment issuance while maintaining adherence to the department turn time expectations and communication standards.
- Prepares and delivers re-disclosures within applicable regulatory timeframes.
- Orders and tracks third-party documentation including appraisals, credit reports, verifications of employment and deposit, flood certifications, and any other required items.
- Prepares files for the underwriter, ensuring all conditions are met and all necessary information is readily available for review.
- Drafts and sends standard loan correspondence and commitment letters under direction of the underwriter.
- Resolves issues with third-party vendors to ensure timely and compliant loan closings in accordance with internal policies and regulatory requirements.
- Provides prompt, knowledgeable responses to customer inquiries and offers guidance when needed to assist the processing team in resolving off-track loans.
- Identifies and recommends process enhancements to improve efficiency, accuracy, and customer satisfaction.
- Updates loans statuses regularly in required systems to ensure transparency across all relevant business channels.
- Maintains strict confidentiality of all customers, financial, and bank-related information.
- Provides the highest level of customer service in a positive and courteous manner to colleagues, clients and the community.
NOTE: This position description reflects management’s assignment of essential functions; it does not prescribe or restrict the tasks that may be assigned by management.
REQUIRED SKILLS: Proven ability to manage a large, dynamic pipeline of mortgage loans. Outstanding communication and customer service skills. Strong analytical skills and attention to detail. Highly proficient in Microsoft Office Suite and mortgage industry software with the ability to learn new applications. Ability to perform multiple tasks and manage workflow in a fast-paced, deadline-driven environment. In-depth knowledge of state and federal lending regulations.
WORK ENVIRONMENT AND PHYSICAL DEMANDS: Work is generally performed in an office environment, with frequent interruptions. Ability to stay in a stationary position, operate a computer, move inside the workplace and exchange information This position is eligible for a hybrid work arrangement in accordance with Webster Five’s Remote Work Policy.
MINIMUM EDUCATION: Associate Degree in Business Administration or equivalent years of experience.
MINIMUM PRIOR EXPERIENCE: 2 years of residential mortgage loan processing experience.
Webster Five is an equal opportunity employer. We are committed to fostering and championing a culture of inclusion, equity, and diversity. Accommodations are available for applicants with disabilities.
Job Type: Full-time
Pay: $46,071.46 - $56,160.00 per year
Work Location: Hybrid remote in Auburn, MA 01501
Salary : $46,071 - $56,160