About This Role
The Loan Processor supports the bank's lending function by accurately and promptly processing assigned loans from application through closing, booking, or other final disposition. This role involves reviewing documentation, verifying borrower and collateral information, maintaining accurate loan data, tracking outstanding items, and collaborating with internal and external parties throughout the loan process. The position may support general consumer, commercial, residential mortgage, or other loan products, including consumer-purpose residential mortgage loans subject to TILA-RESPA Integrated Disclosure (TRID) requirements.
Responsibilities
- Review loan applications, approvals, and supporting documentation for completeness, accuracy, consistency, and compliance with established requirements
- Collect, organize, and review required loan documentation and follow up on missing, incomplete, or inconsistent information
- Obtain and verify borrower and loan information, which may include identity, employment, income, assets, credit, collateral, insurance, and other information applicable to the assigned loan type
- Enter and maintain complete and accurate loan information, documentation, notes, dates, fees, and status information in the Bank’s core system, loan origination system, and other applicable systems
- Monitor assigned loan files and pipelines, prioritize deadlines, track outstanding documentation and conditions, and communicate file status to appropriate parties
- Request, receive, review, and route documentation or conditions required for underwriting, approval, closing, booking, or post-closing follow-up, as applicable
- Review loan documents and system information for consistency with approved loan terms and applicable processing requirements before closing or booking
- Work collaboratively with loan officers, underwriters, internal departments, customers, and applicable third-party service providers to facilitate timely loan processing, approval, documentation, closing, and booking
- Communicate clearly and professionally regarding documentation needs, file status, deadlines, discrepancies, and processing issues
- Identify and help resolve missing information, discrepancies, and documentation issues and promptly refer exceptions or potential compliance concerns to the appropriate manager or compliance resource
- Process and maintain assigned loan files in accordance with applicable laws and regulations, investor or secondary-market guidelines when applicable, and Bank policies and procedures
- Protect confidential customer and Bank information and maintain complete, accurate, and organized loan records
- Complete required training and maintain current knowledge of procedures, products, systems, and regulatory requirements applicable to assigned responsibilities
- Perform other job-related duties as assigned consistent with the nature of the position
