Institution for Savings · 6 hours ago
Loan Processor
Newburyport, MA, US
Full-time
Onsite
Entry Level
$54K/yr - $60K/yr
1+ years expThe Institution for Savings is seeking a full-time, in-office Loan Processor to support their mortgage lending team. This role is responsible for managing residential loan files from application to closing, ensuring accuracy, compliance, and timely communication with all parties involved.
Financial ServicesVenture Capital
Responsibilities
Verifies application data is complete and satisfies the requirement of the Bank’s residential lending policy
Works closely with loan originators to make sure that all required documents are received and initiates customer contact to follow up on missing documents
Records the receipt of all loan documents in the Bank’s LPS
Prepares all closed-end and open-end loan disclosures within regulatory timelines for loans secured by 1 to 4 family residence properties and delivers disclosures to applicants through a variety of channels including mail, electronic means and in person
Orders and reviews credit reports and flood determination certificates
Submits request to the appraisal department and monitors receipt of reports
Verifies all documents are authentic and accurate and documents underwriting comments to the loan file
Prepares loan commitment letters for loan originator’s signature and deliver to the borrowers via mail, electronic means or in person
Works with loan originators to satisfy any outstanding loan conditions
Reviews loan file for HMDA compliance and update LPS as needed
Notifies loan closing representative that the file is ready for closing once all conditions have been satisfied
Qualification
Required
Bachelor's degree or one to two years related experience and/or training; or an equivalent combination of education and experience
Knowledge of residential mortgage products and guidelines
Familiar with loan origination systems and document management tools
Excellent attention to detail and organizational skills
Strong written and verbal communication skills
Ability to work independently and as part of a team
Benefits
100% paid medical
100% paid dental
100% paid vision insurance
401(k) match up to 10%
Life Insurance
Pet Insurance
Disability Plan
Pension Plan after 2 years of service
Quarterly Incentive plan
Generous vacation and paid-time off
Company
Institution for Savings
Institution for Savings is a mutual savings bank based in Massachusetts.
51-200 employees
Funding
Current Stage
Growth StageLeadership Team
Thomas Hopp
Senior Vice President/Chief Information Officer
Company data provided by crunchbase