Sr. Mortgage Loan Processor

·         Implements the processing of Retail and Wholesale mortgage applications by reviewing new applications submitted into the loan origination system.

·         Implement the processing/underwriting of SONYMA loans via SONYMA Express, an automated underwriting and compliance system.

·         Perform a pre-closing analysis of SONYMA files for Compliance of agency guidelines.

·         Responsible to assist Management with gathering all coop project information to determine if meets Bank’s requirements

·         Prepares loan application for submission to Underwriting by:

·         Evaluating housing and debt ratios and determining their acceptability according to all lending policies, secondary market guidelines and outside agencies.

·         Ordering and evaluating credit report, appraisal, property report, flood certification, etc., as applicable.

·         Verifying employment/income, asset and any other indebtedness not included in credit reports, as applicable.

·         Reviewing file for accuracy of verified information and completeness of all necessary disclosures as required by federal and state regulations.

·         Updating and maintaining accurate and current recorded data into the loan origination systems.

·         Compiling required documents and sending to outside agencies, as applicable.

·         Responsible to review Retail, Consumer and SONYMA closing conditions and clear for closing. Ensures the closing process by reviewing committed files to ensure that all documents and outstanding conditions necessary to close the loan are present and accurate.

·         Analyzes loans not meeting lending policies and determines recommendations for non-approval action such as Suspensions, Offers and/or Declines.

·         Prepares revised disclosures as needed and Commitments of approval, in accordance with all lending regulations and ensures delivery to customer, Bank Attorney, and Broker if applicable.

·         Ensure the accuracy of the submission of required HMDA and Compliance data.

·         Ensures the integrity of the pipeline by updating expired documents, as well as tracking all expiring commitments and notifying the applicant of the expiration.

·         Ensure a quality loan portfolio by a thorough review and analysis of processed applications and documentation by verifying consistency and accuracy of prepared and broker submitted documents and making the necessary corrections where errors are found; also interact with staff as well as applicants, brokers and attorneys regarding resolution of outstanding issues prior to closing.

·         Assists in resolving problem situations prior to closing by communicating with applicants, consultants, brokers and/or attorneys.

·         Responds to inquiries regarding mortgage and consumer loans via telephone and/or e-mail.

·         Helps out whenever necessary by performing other related duties which may be required from time to time.

·         All other duties as assigned.

·         Required Qualifications:

·         High School Diploma or G.E.D. equivalent

·         Good organizational skills with the ability to communicate and interact effectively with the public, supervisors and other support areas.

·         A minimum of three years related mortgage and consumer loan experience is required, including a minimum of two years experience processing/underwriting federal and/or state government-sponsored mortgage loan applications to include SONYMA .

·         Proficient knowledge of SONYMA Homeownership Programs.

·         Proficient knowledge of SONYMA credit and underwriting guidelines.

·         Strong attention to detail and accuracy.

·         Proficiency with loan origination software, such as LendingPad

·         A knowledge of Federal and State Regulations and Secondary Market requirements as well as internal Bank policies.

·         Preferred qualifications:

·         Strong proficiency in Processing and Underwriting SONYMA loans

·         Two or more years experience in Processing/Underwriting SONYMA loans.

·         Strong knowledge of State and Federal regulations.

·         Experience with various Homebuyer Grants to include FHLBK, HomeFirst , CHI and Homebuyer Dream.