Commercial Loan Clerk, Sr. jobs in Lafayette, IN

Description

Processes residential loan data entered into loan origination system with appropriate updates. Verifies loan documentation for accuracy and to clear underwriting condition requirements. Performs multiple administrative duties as listed below.

Specific Job Functions:

1.Strategic Objectives

a.Provides assistance to the residential loan originators/officers to ensure loan documentation is accurate.This includes updating, verifying, and/or reviewing loan data and/or documents for accuracy in loanorigination system and communicating any changes to the loan originator to meet or exceed customerexpectations

b.Ensures underwriting conditions are cleared to meet loan closing expectations and loan programrequirements

c.Works as a processing team to ensure pipeline is progressing according to procedures and regulatorydisclosure guidelines

d.Utilizes proper channels of communication to confer with underwriter, loan originators, and processing toresolve documentation, closing conditions requirements, or to clarify file requirements

e.Maintain thorough knowledge of basic lending, underwriting policies and procedures; including guidelinesissued by bank’s investors and approved vendors

2.Compliance

a.Responsible for knowing and complying with all Federal Regulations and bank policies/procedures that applyto your department, including the Bank Secrecy Act and CIP

b.Ensures residential loan files contain verified and accurate data to submit for loan approval according toestablished procedures to meet regulatory and loan policy requirements

c.Knowledge of all lending regulations

d.Knowledge of the Home Mortgage Disclosure Act (HMDA) to ensure all HMDA reportable loan transactionsare identified and included on bank’s Loan Application Register

e.Provides assistance to manager to ensure audit findings are cleared in a timely manner

3.Investor Relations

a.Maintains knowledge of investor loan programs and requirements

b.Submits delivery and appraisal information to appropriate investor

1. Executes timely rate locks and monitors expiration dates to ensure timely delivery of loan packages
2. Package and deliver loans to investor requirements
3. Submits loan file review documentation timely to meet investor audit requests
4. Loan Processing Responsibilities
5. Ensures all residential real estate loan applications, including: mortgage loans, home equity, and home equity lines of credit files contain verified, complete, and accurate loan documentation to submit for loan approval by Retail Underwriter, Sr. Lender, Loan Committee, and/or Board of Directors
6. Responsible for ordering appraisals, title commitments, flood certifications, and other documentation as required to complete the loan transaction to keep the pipeline moving
7. Executes rate lock commitments and appropriate disclosures to meet program and file requirements
8. Reviews pipeline reports to monitor rate lock expirations and approaching closing dates to keep loan originators/officers informed
9. Maintain current loan files
10. Attends department training as scheduled
11. Performs additional duties or assignments as directed by supervisor.

Requirements

• High school diploma or equivalent
• Experience in loan processing, documentation, and closing field
• Knowledge of secondary market and government program required
• Exceptional customer service skills
• Good computer skills including Microsoft Office and loan origination systems
• Good organizational and time management skills
• Ability to multi-task and adaptable to process changes
• Basic math skills
• Proficient problem solving and providing solutions
• Positive and effective communication skills