Job Description

Job Title

Mortgage Loan Specialist

Oak Bank Introduction

Oak Bank provides business banking solutions with a personal touch and is dedicated to enriching the communities where we live and work. As a collaborative team, our Associates strive for excellence in support of client success. Are you ready to make an impact?

Position Overview

The Mortgage Loan Specialist executes secondary market and in-house residential loans. This role is involved in all aspects of processing which requires skills in underwriting, loan programs, collateral documentation, regulatory compliance, and loan processing software systems. Great opportunity for an experienced mortgage processor to move into a lead processing role, ensuring excellent client service as well as productive internal and external partner relationships.

Responsibilities

• Responsible for all aspects of residential mortgage (including in-house and secondary market) and construction loan processing by completing underwriting, applicable paperwork, inputting loans, and verifying documents.
• Maintains processing knowledge of residential mortgage loan programs including but not limited to Fannie Mae (FNMA) and Federal Home Loan Bank (FHLB) MPF loans.
• Requests and reviews supporting documentation such as appraisals, flood determinations, title work, insurance and any other required items as deemed necessary for each loan.
• Conducts necessary searches including but not limited to credit bureau reports, verification of employment and deposit accounts.
• Performs post-closing duties including perfecting collateral, disbursing loan proceeds, handling invoices and completing compliance checks.
• Establishes and maintains loan accounts on the Bank’s core system (FISERV Premier).
• Maintains the systems used to process mortgage loans.
• Assists with selling secondary market loans.
• Prepares and/or reviews residential mortgage loan denials.
• Demonstrates attention to detail in producing all loan documents and maintaining accurate loan files.
• Regularly reviews workflows and procedures to ensure efficient residential loan processing, supporting projects related to system upgrades and enhancements.
• Maintains professional relationships with internal and external clients as well as third party vendors.
• Maintains awareness of legal requirements and best practices, adhering to established bank policies and procedures to mitigate risk.
• Other activities as needed to drive toward our vision and fulfill our mission as a Loan Operations team and organization.

Qualifications

• Minimum of an Associate’s Degree in Business/Finance or other equivalent residential mortgage underwriting, processing or documentation work experience required.
• 3-5 years of residential mortgage experience preferred.
• Knowledge of FISERV Premier, Finastra Mortgagebot LOS, and other mortgage loan processing systems such as Desktop Underwriter (DU) preferred.
• Knowledge of regulations and best practices relevant to residential loans to ensure compliance and mitigate risk.
• Experience with Microsoft Word, Excel and Adobe Acrobat Standard.
• Excellent verbal and written communication skills.
• Good problem-solving skills using experience, knowledge and policies and procedures provided.
• Ability to meet deadlines and prioritize work while working independently.
• Demonstrated attention to detail to ensure accuracy and detect discrepancies for follow-up.
• Able to collaborate as part of an overall team, supporting others throughout the bank to achieve goals and objectives.

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