Banterra Bank · 14 hours ago
Residential Lending Processor
Cottonwood Heights, UT 84047, USA
Full-time
Hybrid
Entry Level
$25.82/hr - $30.98/hr
1+ years expBanterra Bank is seeking a Residential Lending Processor who will be responsible for processing mortgage loan applications to closing. The role involves ensuring the accuracy and completeness of loan documentation while being well-versed in mortgage lending regulations and providing customer support.
Financial Services
Responsibilities
Review initial loan applications submitted by loan officers. Verify application data is complete and meets established mortgage rules and guidelines for type of loan for which borrowers have applied
Review documentation such as credit report, pay stubs, tax returns, W-2s, bank statements, and any other documentation associated with loan file
Maintain regular contact with loan officers, borrowers, area realtors, insurance agents, title companies (and other parties as needed) to provide loan status updates, obtain additional information, and/or help resolve any issues that may arise
Request property appraisal, title commitment, flood certification, homeowner’s insurance and other required documentation. Once all required documentation is received, complete review and submit file for final approval
Maintain familiarity with various laws, regulations, and general & soundness guidelines. Stay well-informed of requirements of federal, state, Freddie Mac regulations as well as FHA, VA, USDA, and all other investor loan guidelines
Participate in continued mortgage compliance training including, but not limited to: Dodd-Frank Act, ATR/QM Rules, Truth in Lending Act, Real Estate Settlement Procedures Act (RESPA), Home Mortgage Disclosure Act (HMDA-Regulation C), Equal Credit Opportunity Act (ECOA-Regulation B), Fair Housing Act, Fair Credit Reporting Act, etc
Develop and maintain an overall understanding of all functions performed with mortgage loan origination, booking, delivery, and servicing
Provide assistance to lending staff as needed
Assist in ensuring loan software and programs are performing at optimum level. Report and correct any issues that arise. Identify and attend training as necessary for continued knowledge
Monitor mortgage loan pipeline to ensure files stay compliant with timing requirements including meeting closing dates. Report any issues on approaching deadlines to applicable parties
Qualification
Required
High school diploma or equivalent
One to three years' mortgage loan processing or related experience required
Knowledge of Freddie Mac underwriting guidelines
Broad knowledge of mortgage loan related functions
Strong organizational skills and attention to detail
Strong customer service orientation
Ability to work as part of a team
Ability to problem solve, prioritize tasks and meet required deadlines
Ability to think critically and use good, sound judgment in decision-making
Ability to write routine correspondence and communicate effectively and tactfully, orally and in writing with employees, customers, vendors and management
Ability to respond to common inquiries or complaints from regulatory agencies, outside auditors and accountants, Board of Directors or other members of management
Ability to define problems, collect data, establish facts and draw valid conclusions
Must understand and comply with company policies and procedures
Ability to oversee goals and projects and ensure they are completed in a timely manner
Ability to maintain a friendly, helpful and courteous attitude when working with customers or co-workers under diverse conditions
Ability to apply concepts such as fractions, percentages, ratios and proportions to practical situations
Ability to interpret various ratios and relationships inherent in common or specialized financial reports
Ability to project future results or consequences from different alternatives or variables
Ability to use a calculator, computer and applicable software
Ability to use Microsoft Internet Explorer and Microsoft Office programs, specifically Word, Outlook and Excel
Preferred
Experience with Encompass preferred
Company
Banterra Bank
Banterra Bank is a bank providing consumer lending, mortgages, and financial services.
201-500 employees
Funding
Current Stage
Growth StageLeadership Team
Gary Dillard
EVP, Chief Financial Officer
Jennifer Aden
Executive Vice President, Chief Legal Officer, Corporate Secretary
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