Salem Five Bank ยท 2 months ago
Loan Processor Team Lead
Salem, MA
Full-time
Onsite
Mid, Senior Level
$50K/yr - $65K/yr
3+ years expSalem Five Bank is a growing regional financial services organization with over 160 years of history. The Loan Processor Team Lead will support the daily workflow of loan processors, provide guidance, and ensure compliance with regulatory requirements while fostering a collaborative environment among team members.
BankingFinanceFinancial ServicesMortgage
Responsibilities
Support the daily workflow of loan processors and pre-closers to ensure timely and accurate loan processing
Serve as the first point of contact for staff questions and escalated file issues
Assist with pipeline management, monitoring file movement and helping team members stay on track with service level agreements (SLAs)
Provide guidance and coaching to team members to strengthen knowledge of underwriting requirements and condition clearing
Partner with sales, underwriting, and closing teams to maintain strong communication and resolve file-level challenges
Assist with quality control checks to ensure compliance with investor, agency, and regulatory requirements (Fannie Mae, Freddie Mac, FHA, VA, USDA, etc.)
Provide feedback to management on team performance, workflow challenges, and opportunities for improvement
Contribute to a customer-focused culture that balances speed, compliance, and accuracy
Assist management with projects and department initiatives as needed
Demonstrates compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position
Regular attendance is essential to this position
Assumes additional responsibilities as requested
Act as a peer leader by supporting and guiding processors and pre-closers
Help train new staff members and share best practices with the team
Monitor daily workloads and assist in balancing files across the team
Escalate ongoing or complex issues to the SVP of Mortgage Operations when appropriate
Encourage a collaborative environment between sales, underwriting, and operations staff
Qualification
Required
High school diploma or equivalent required
3+ years of mortgage loan processing experience
Strong understanding of mortgage loan products, agency/investor guidelines, and regulatory requirements
Ability to prioritize and manage multiple files in a fast-paced environment
Effective communication and interpersonal skills for working with peers and other departments
Strong problem-solving skills with attention to detail and accuracy
Proficiency in loan origination systems (LOS), preferably Encompass, and other mortgage technology tools
Commitment to delivering excellent customer service while maintaining compliance standards
Preferred
College degree preferred
Previous experience serving as a senior processor, mentor, or team lead preferred
Benefits
Health Insurance
Dental
Vision
Flexible Spending Account
Health Savings Account
401k Matching
Tuition Reimbursement
Employee Referral Program
Summer Family Outing
Annual Holiday Reception and more.
Company
Salem Five Bank
Salem Five is a financial services company with deep roots in Massachusetts - proudly serving individuals, families, and businesses since 1855.
501-1000 employees
Funding
Current Stage
Late StageLeadership Team
Brian Shaughnessy
Chief Financial Officer
Diane G. Smith, PHR
Sr. Vice President, Sr. Strategic Business Partner
Recent News
2025-11-20
Business Insider South Africa
2023-03-31
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