Position: Loan Processor
Supervisor: Loan Manager
FLSA: This is a non-exempt position.
Summary: Enters residential, commercial, and consumer loan data into Auburn Bank automated underwriting systems. Verifies loan documents for accuracy; prepares loan files for underwriting.
- Good understanding of bank products and services with emphasis on loan products.
- Experience and/or training with computer systems, preferably desktop or other automated loan processing and underwriting systems.
- Experience or training in loan processing or lending is desirable.
- High school diploma or equivalent.
- Good interpersonal skills.
Essential Job Functions:
- Receives loan applications with supporting documentation and loan narrative from Loan Officers.
- Puts all documentation in proper order in loan file.
- Verifies accuracy of loan application data and enters data into loan processing system(s).
- Generates and mails letter to loan applicants for additional information/documentation if needed.
- Works closely with Loan Officers throughout the loan process.
- Orders credit reports, appraisals, VOEs, VODs, title reports, etc.; reviews and sends to appropriate people; saves document in appropriate drive on computer.
- Prepares and assembles loan documentation for underwriting.
- Creates and updates loan log information on computer.
- Submits appropriate paperwork for commitment letter.
- Assists Loan Officers with the elimination of loan conditions subject to loan approval.
- Runs LRR’ s and gets V VOE’ s when requested from Closer; makes updates and ensures appropriate staff receive paperwork.
- Tracks and sends out letters to borrowers nearing the end of their construction period to collect refinancing into permanent loan paperwork.
- Processes loan conversions from construction to permanent financing.
- Completes modification request form and collects all documentation needed for the extension of construction loans; emails to appropriate people.
- Prints color photos of inspections done by LO on delinquent loans.
- Maintains knowledge of local, state, and federal lending disclosure requirements.
- Ability to communicate on a telephone.
- Ability to speak, read, and hear.
- Ability to sit for long periods.
- Ability to type/word-process.
- Ability to multi-task.