F&M Trust
  • 04-Sep-2018 to 03-Nov-2018 (EST)
  • Loan Processing
  • Chambersburg, PA, USA
  • Hourly
  • Full Time

Comprehensive Benefits Package


SUMMARY OF POSITION:

Responsible for performing a variety of duties relating to the preparation of residential mortgage loan documents.  Assist in the administration of the mortgage loan origination system. Process and prepare mortgage settlement packages with a high degree of accuracy while adhering to bank and regulatory policy and procedure.  Order supporting documentation for consumer real estate loans and review for adherence to the Bank's policies and regulatory guidelines.  Coordinate work with mortgage originators, community offices and other departments.  Provide loan officer and customers with support and assistance relating to loan application packets.  Report pertinent information to immediate supervisor.  Respond to inquiries and requests for information.

KEY ACCOUNTABILITIES:

1. Coordinate the underwriting of brokered residential mortgage applications with F&M Trust's designated wholesale lender by performing the following duties including but not limited to:

  1. Assist F&M Trust's mortgage lending personnel with the collection, preparation and submission of any and/or all underwriting supporting documents.
  2. Maintain a network F&M Trust Wholesale Mortgage Lending Manual and update accordingly by monitoring processes and procedures with communications through the Wholesale Lender.
  3. Monitor F&M Trust lending personnel's adherence to Wholesale Lender's policies and procedures.
  4. Process all fees obtained from brokered loan settlements.

2. Perform various duties relating to the processing of portfolio, wholesale, and specialized mortgage programs (PHFA, Rural Housing, etc.) within the designated turnaround times as follows:

  1.  Prepare commitment letter and distribute to mortgage lender and/or applicants. For declined loan applications, prepare, mail and maintain records of adverse action notices.

3. Perform various duties relating to the underwriting process of consumer real estate secured loans within the designated turnaround times as follows:

  1. Prepare and deliver preliminary disclosures including but not limited to the Loan Estimate within the appropriate regulatory timeframe.
  2. Ensure RESPA/Reg Z disclosures are properly prepared;
  3. Order all appropriate levels of supporting documentation as necessary including but not limited to real estate valuations, flood certifications, and title reports. Review supporting documentation to ensure compliance with all bank policies and procedures, as well as all applicable state and federal regulations.
  4. Review the appropriate level of lending authority per individual loan application by determining and documenting the borrower's internal loan aggregation.
  5. Verify the pricing structure of each loan application in accordance with internally posted interest rates.
  6. Review all denied/withdrawn files and counter offers for HMDA/Reg B compliance.

4. Perform various duties relating to the preparation of closing documents and supplemental materials pertaining to the timely settlement of portfolio or specialized mortgage loans and consumer real estate loans as follows:

  1. Review documentation to insure all conditions are satisfied.
  2. Obtain any and all additional information necessary for settlement and prepare all closing documentation required, as well as all applicable state and federal regulations.
  3. Collect information required to calculate escrows when needed and prepare escrow disclosures.
  4. Properly title the security instrument in accordance with the legal ownership.
  5. Distribute and communicate all information to appropriate individuals per departmental procedure.

5. Monitor mortgage applications submitted via the Internet, and submit to the appropriate personnel for follow-up.

6. Assist with various functions related to establishing and distributing mortgage interest rates.  Document and provide confirmation of rate lock requests while adhering to established procedures.  As necessary, assist in pricing decisions and mortgage rate locks per bank policies and departmental procedures.

7. Prepare packages for secondary market investor delivery and review for completeness; photocopy and prepare file for sale, balance sale proceeds and process the accounting entries and follow up on any trailing documents on a timely basis.

8. Assist supervisor in ongoing maintenance of the internally posted Consumer Loan Policy Manual.

9. Interact with users to design, implement maintain consumer and mortgage loan documentation related to computer applications (screen format, default items, and custom generated documentation.)

10. Reports pertinent information to the immediate supervisor as requested, or according to an established schedule; prepares regular reports to bank management personnel on the loan document preparation system; compiles information as necessary or as directed.

11. Service with emphasis on meeting and exceeding customer expectations.  Understand need to attract and retain customers and anticipate their needs.

12. Performs clerical and miscellaneous duties:

  1. Answers telephone in accordance with the bank's policy on Business Telephone Etiquette.
  2. Files various documents accurately and in a timely manner.
  3. Maintains, updates and retains all documentation as required by the bank as well as regulatory agencies.
  4. Projects a professional appearance that is in compliance with the bank's Dress Code Policy.

REQUIRED EDUCATION:

A high school diploma or equivalent with an emphasis in business or accounting curriculum preferred.

REQUIRED EXPERIENCE:

Minimum two (2) years experience with consumer and real estate lending/loan processing experience and related operations functions or equivalent combination in financial services and/or lending industry required.  Working knowledge of lending regulations and guidelines is also required.  Experience with the underwriting and processing of residential mortgage loans and related operations, including working knowledge of secondary market guidelines, preferred.  Working knowledge of lending regulations and secondary mortgage market guidelines preferred.

F&M Trust
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