Residential Mortgage Processor

Date Posted: 5/23/2024
Department: Lending
Type of Employment: Full-Time

BankORION

There is purpose in partnership. A bright partnership brings people together, driven by a mission to do what is right and make lives better. What inspires you is what motivates us too – serving others, working hard, getting it done, exceeding expectations, strengthening relationships, bettering our communities, and doing what is right every day. An attentive partner really knows you, listens to you, respects you, and trusts you. A smart partner thinks ahead and looks out for you. They stand by your side to help you succeed. Trustworthy partners are along for the ups and downs, in it together.

At BankORION, we create bright partnerships that add value, make lives better and last a lifetime. We like doing partner-driven things…like working together to find solutions, anticipating needs, respecting others, listening well, noticing the details, exceeding expectations, and responding with compassion. We understand that our collective intelligence is always going to be higher than the IQ of just one person, no matter how smart. When we tackle challenges with a collaborative spirit, we come up with better ideas while sharpening each other’s saw.

Let’s sign on to make great choices. Form strong teams. Build great relationships. Listen well. Serve others. Respect everyone. Elevate the financial well-being of those we serve. Start a bright partnership with us today.

BankORION

A Bright Partnership

BankORION is seeking a full-time Residential Mortgage Loan Processor at our Operations Center in Moline, IL. The primary responsibilities include working directly with mortgage lenders to process mortgage loan applications for conventional purchase, refinance, home equity, HELOC’s, construction loans for portfolio and the secondary market. The residential mortgage loan processor will prepare detailed loan disclosures and perform testing throughout the process to verify compliance with laws & regulations as well as Bank policy. This position will maintain a pipeline report to track loan progress from application to closing to ensure adherence to delivery timelines and to meet contract closing dates. The mortgage loan processor will work with 3rd parties to verify credit, income, assets, employment, real estate title, taxes, payoffs, insurance, etc. to satisfy underwriting conditions. This position will schedule closings with settlement agents, attorneys, and realtors to collect final invoices and for the closing disclosure, ensure timely delivery and receipt to borrower of the CD and appraisal, prepare closing packages, fund loan proceeds, and package loan for input onto the core system.

Job Requirements:

• Preparation of Loan Disclosures including Initial Disclosures, Closing Disclosures, Closing Packages, ML Balloons, HELOC Extensions, Releases, Pre-qualifications & Denials
• Perform compliance and regulatory testing 
• Updates pipeline report  
• Verification of information needed to satisfy underwriting conditions
• Fund loans proceeds to settlement agents and borrowers
• Package loans for delivery onto the core system
• Filing and maintenance of original loan documents in physical files
• Scanning documentation into imaging system
• Review daily closed loan reports and prepare and file mortgage releases with proper county recorder
• Perform weekly, quarterly and annual reporting as assigned
• Frequently communicate updates to lenders as to verification status updates
• Attends weekly pipeline progress meetings with mortgage loan originators
• Participates in regular training to keep up to date with compliance and regulatory changes
• Provides general administrative assistance to mortgage lenders
• Other duties as assigned

Knowledge, Skills, and Abilities: 
 

• Understanding of the real estate industry 
• Understanding of compliance requirements of mortgage lending 
• Above average attention to detail and timelines 
• Ability to multitask and collaborate with members of all levels of the organization
• Ability to be self-reliant, work independently, proactive, and collaborative
• Strong written and oral communication skills
• Skilled with computers; including: Microsoft Excel, PowerPoint, and Word
 
Hours of Work: 
 
# of hours per week: 40 

Working Conditions: 
 
Office work with exposure to some noise. Bending, stooping, and minimal lifting required up to 10lbs. Sitting,
standing, and walking required.

Education:

Required:  H.S. or equivalent.

Preferred:  Associates Degree or other Trade Certification 
 
 
 
Experience:

 
Preferred  
5+ years related banking experience + prior real estate industry experience 

Required 
2+ years related banking experience + prior real estate industry experience