Position Purpose:
· Prepares, tracks, processes, SFR, MFR and Commercial loans in addition to documenting and funding loan transactions.
Position ensures loans are closed accurately and in accordance with bank guidelinesEssential Functions and Basic Duties:
· Records initial loan application in log.
· Creates loan file and sorts documents according to established checklist.
· Orders individual and business credit reports on new loan applications and performs UCC search.
· Orders appraisals, property profile, flood certificate, and any reports directed by UW to perfect BFB real estate collateral interest.
· Orders escrow and preliminary title report from title company.
· Researches insurance information.
· Prepares and mails a variety of required correspondence.
· Prepares loan document request in order for loan servicing to produce documents.
· Monitors receipt of documents and follows up with necessary parties to ensure documents are received in a timely manner.
Reviews completed loan documents and initiates corrections, as requested by Business Bankers.
· Monitors loan documents as they are returned, and assembles documents necessary for processing.
· Responds to questions from borrowers and follows up with them as necessary.
· Analyze loan amounts, taxes, hazard insurance, principle and interest payments, and coordinate the finalization of closing funding package including HUD Settlement Statement.
· Work with Title Companies and Escrows to ensure turn around times are met.
· Ensure satisfaction of all closing conditions prior to funding.
· Assembles loan documents for delivery to settlement agent for closing.
· Input loan information into Bank system after funding.
· Answers regarding closing requirements.
· Calls Settlement agent, Title Company and other specified individuals to reaffirm funding date, to provide funding figures and confirm closing.
· Keeps in constant communication with escrow, title and loan agents regarding loan-funding status.
· Performs other duties as assigned.Supervisory/Management Responsibilities:
· None.Qualifications*Education: *
· Graduation from high school, or equivalent (GED).
· Some college or Associate degree (preferred) in real estate, finance or business accounting or related field.*Required Knowledge*:
· Basic knowledge of general office procedures, bookkeeping procedures and general ledger.
· Basic computer knowledge.
· Knowledge of bank lending products and services,
· General knowledge of bank and consumer products
· *Experience Required*:
· 2 to 3 years experience in mortgage or real estate loan processing.*Skills/Abilities*:
· Ability to read and write English.
· Ability to use office equipment, such as personal computers.
· Ability to work with speed and to meet deadlines.
· Organizational and communication skills.Job Type: Full-timeBenefits:* 401(k)* 401(k) matching* Dental insurance* Disability insurance* Employee assistance program* Health insurance* Life insurance* Paid time off* Parental leave* Referral program* Retirement plan* Vision insuranceSchedule:* 8 hour shift* Monday to FridayEducation:* High school or equivalent (Preferred)Experience:* Fair Housing Regulations: 1 year (Preferred)* Loan Processing: 2 years (Required)Work Location:* One locationCompany’s website:* www.Broadwayfederalbank.ComBenefit Conditions:* Waiting period may apply* Only full-time employees eligibleWork Remotely:* NoCOVID-19 Precaution(s):* Remote interview process* Social distancing guidelines in place* Sanitizing, disinfecting, or cleaning procedures in place