Mortgage Loan Processor

Position Summary

The Mortgage Loan Processor is responsible fore the processing and reviewing residential 1st and 2nd mortgage files to ensure compliance with regulations, guidelines and Bank policies. They work closely with the Loan Officer to gather necessary documentation and facilitate the underwriting process to ensure timely loan closure.

Duties & Responsibilities

Bilingual strongly preferred.

• Organize and review initial information submitted within allotted time frame.
• Order credit report updates, appraisals, title commitments, verifications, and other third-party services required by the loan program.
• Communicate with applicable parties, including but not limited to the borrower, seller, real estate agents, attorney, etc to obtain additional documentation when needed.
• Follow up, validate, and review verifications, appraisal, flood certification, private mortgage insurance certificate, credit report, HOA/Condo letters, homeowners' insurance, title work, and any other documentation required by the loan program. Communicate with the Loan Officer and Underwriter to address any issues.
• Calculate income, debt-to-income ratios, loan-to-value ratios, and sufficient funds to close with appropriate reserves as required by the loan program and investor.
• Upload all verified documentation into the loan origination system.
• Follow all investor and specific loan program guidelines.
• Field phone calls from mortgage customers and formulate the appropriate action needed to assist them and enhance their relationship with Busey Bank. This includes assisting the Loan Officer with promoting Busey products to meet cross-sell goals.
• Assist the Loan Officer, Underwriter, and Closer with Quality Control audit violations or any Post-Closing investor corrections.

Education & Experience

Knowledge of:

• Strong oral and written communication skills
• Secondary market guidelines
• Regulatory compliance
• Bank policies
• Strong organizational skills

Ability to:

• Maintain confidentiality of customer information.
• Manage a 20-30 loan pipeline effectively
• Communicate with required parties consistently throughout the loan process
• Analyze information and make independent decisions
• Perform duties under frequent time pressures
• Solve problems independently while applying logic and discretion

Education and Training:

• Requires High School diploma.
• Requires 2 or more years of related banking experience.
• 2 or more years of experience in Loan Processing (CONV/FHA/VA/USDA) preferred.
• Requires previous experience in processing and underwriting all loan types.
• Requires knowledge of Microsoft Office.

Benefits and Compensation

Salary offered is based on factors, including but not limited to, the job duties, required qualifications relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance.

(Base Pay Range: $19.50-$23.90/hour)

Busey provides a competitive Total Rewards package in return for your time, talents, efforts and results. Your personal and professional well-being—now and in the years to come—are important to us. Busey’s Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program. In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts. Visit Busey Total Rewards for more information.

Equal Opportunity

Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey’s commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey’s Equal Opportunity Employment.

Unsolicited Resumes

Busey Bank, and its subsidiaries, does not accept any liability for fees for resumes from recruiters or employment agencies (“Agency”), without a binding, written recruitment agreement between Busey and Agency describing the services and specific job openings (“Agreement”). Busey may consider any candidate for whom an Agency has submitted an unsolicited resume and explicitly reserves the right to hire those candidate(s) without any financial obligation to the Agency, unless an Agreement is in place. Any email or verbal contact with any Busey associate is inadequate to create a binding agreement. Agencies without an Agreement are requested not to contact any associates of Busey with recruiting inquiries or resumes. Busey respectfully requests no phone calls or emails.