Mortgage Loan Processor Team Lead - Omaha, NE
What sets Bank of the West apart from other banks is our team members–they embody the optimistic spirit of the West. There is a spirit here that drives us to do more. Our team of more than 10,000 employees is vital to the success of our Bank. They reflect our modern western values—straightforward, entrepreneurial and optimistic. We seek to create a corporate culture that fosters and rewards excellence, encourages creative thinking and respects diversity – an environment where team members are engaged, supportive of one another and enthusiastic about serving our customers. Bank of the West offers the stability of a company that has a 135 year history and is part of BNP Paribas, a European leader in global banking and financial services and one of the 6 strongest banks in the world. We offer opportunities across our diverse business lines – Retail Banking, Commercial Banking, National Finance, and Wealth Management.
Responsible for performing a variety of processing functions for highly complex mortgage loan files including FHA and VA, while ensuring a timely, accurate and cost effective support of the Bank’s lending operations. Processing functions include: desktop underwriting, receipt of loan documentation, and ordering of third party items through preparation of package for loan closing. Ensures compliance in all areas of desktop underwriting, PMI and secondary market guidelines. Meets timeline and objectives daily while handling customer inquiries and detecting deficiencies in the loan early in the process. Serves as a Team Lead to less experienced processors.
Essential Job Functions
1. Receives loan application from MB and reviews documents to ensure all necessary forms have been completed and comply with underwriting, PMI and secondary market guidelines.
2. Determines and evaluates documentation needed to comply with underwriting, PMI, secondary markets marketing and government agency guidelines. Suggests alternative methods to obtain satisfactory documentation when necessary. Detects non-qualifying applicants early in the process and recommends innovative viable alternatives to qualify the loan.
3. Sets up loan files and enters information for tracking of loan. Submits loans trough DU/LP automated underwriting system upon validation. Prepares and mails initial or revised disclosures, if applicable.
4. Verifies credit report, income and assets, and orders preliminary title report, appraisal, fee/escrow instructions and all verifications necessary to complete the loan file. Solves problems and offers solutions to processors when verifications alter the quality of the loan. Prepares loans for processing sign off within specified number of days.
5. Reviews and evaluates all documents, including tax returns using judgment to ensure loan falls within guidelines per loan type.
6. Determines allowable income to be used for loan calculations that comply with underwriting guidelines, including complex personal and business tax returns.
7. Works with the team leader on file flow, and proactively assures timely completion of the file. Offers alternatives and solutions to meet time frames and guidelines.
8. Reviews and validates the appraisal to ensure it complies with agency and USPAP/FIRREA guidelines.
9. Communicates with customers, MB;s and authorized employees to satisfy loan conditions as well as the status of the loan application.
10. Ensures that all loans are in compliance with internal Bank guidelines and external state and federal regulations (i.e. USPAP, FIRREA, HMDA, RESPA, FNMA, FHLMC, and Fair Lending).
11. Assists with training new hire staff members.
12. Serves as a Team Lead to less experienced processors.
Required Education or Equivalent Experience
- High School Diploma or GED required
- Bachelor’s Degree in Business or equivalent of education and experience
- 3-4 years of loan processing experience. FHA and VA processing experience required.
- Availability: Monday - Friday 10:00 am - 7:00 pm CST
- Thorough knowledge of loan documents, insurance requirements, real estate terminology and departmental procedures. Thorough knowledge of mortgage processing and basic underwriting skills. Thorough knowledge of Bank policies, standards, and guidelines. Thorough knowledge of federal regulations and regulatory agencies such as USPAP, FIRREA, HMDA, RESPA, FNMA, FHLMC, VA, RD, and Fair Lending.
Administrative/Technical Skills/ Other Information
- Thorough verbal and written communication skills
- Typing of 40-45 WPM
- Knowledge of 10-key, calculator
- Photocopier and fax machine
- Maintains filing system
- Math and analysis
- PC Proficiencies with Windows based software in Word, Outlook and Excel
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran.
Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.