The Federal Savings Bank · 3 days ago
Consumer Loan Processor
Chicago, IL
Full-time
Onsite
Entry, Mid Level
$50K/yr - $60K/yr
2+ years expThe Federal Savings Bank is a leading private bank and national lender, seeking a Consumer Loan Processor to support their Consumer Loan Division in Chicago, IL. The role involves end-to-end processing of secured and unsecured loans, including analyzing loan documents and ensuring compliance with guidelines.
BankingFinanceFinancial Services
Responsibilities
Daily utilization of Encompass and MeridianLink loan originations software
Set and maintain proper expectations with all parties on the loan file
Analyze credit, income, assets, and collateral documents prior to submitting to Underwriting
Ensure loan files are complete and meet guidelines prior to Underwriting
Clear loan conditions and communicate effectively with Sales, Processing, Underwriting, and Closing teams
Order title, appraisal, hazard insurance, flood insurance, payoffs, and analyze them prior to closing (as applicable)
Review and analyze title for all requirements and address any issues, insurance coverage for mortgagee
Maintain loan file compliance while managing pipeline of various volume levels
Work effectively under specific time constraints and meet end-of-month deadlines
Complete the Bank's customer service training and apply it to all communication with borrowers, vendors, and internal team members
Qualification
Required
High school diploma required; 4-year college degree preferred
2+ years of processing experience processing purchase & refinance mortgages required
Able to calculate self-employed and variable income
Expert knowledge of agency and investor loan guidelines
Expertise in processing conventional loans required; additional VA and FHA knowledge preferred
Favorable credit and background required
Flexibility with your schedule as you may be required to work extended hours to meet the needs of the business, especially during peak volume periods
Excellent oral and written professional communication
Must be able to manage time effectively and meet SLAs
Preferred
Experience processing Home Equity loans preferred
Familiarity with Encompass or other similar loan origination software
Proficient with Automated Underwriting (LP & DU) preferred
Benefits
Medical, Dental, and Vision insurance
HSA and FSA plan options available
Company-paid life insurance
Partially matched 401k
7 paid holidays
PTO that increases with length of employment
Employee Assistance Plan (EAP) for employee and their household
Employee recognition on a national scale with incentives
Employee appreciation events
Garage parking onsite
Company
The Federal Savings Bank
The Federal Savings Bank focuses on teaching its customers about the mortgage process and giving them the opportunity to own a home.
1001-5000 employees
Funding
Current Stage
Late StageTotal Funding
$31M2021-02-04Undisclosed· $30M
2014-04-08Undisclosed· $1M
Leadership Team
Andrew Chojnowski
Chief Operating Officer, Home Lending
Dan Semenak
Executive Vice President / Chief Operating Officer
Recent News
2025-10-24
newswire.com
2025-07-09
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