Mechanics Bank is currently searching for a Sr. Loan Processor to join our team. Here at Mechanics Bank, we value connection, partnership, long-term relationships, and working together in person. This role will be working on-site at our Walnut Creek office.
The Sr. Loan Processor is responsible for the processing of mortgage and consumer loans, providing support to loan originators and sales team associates. The Sr. Loan Processor must have a deeper and broader understanding of the mortgage process, including handling complex and non-standard cases. This role will often have additional responsibilities, which can include overseeing the work of a Junior loan processor, handling more complex loan files, and possibly training or mentoring less experienced staff. Due to the level of experience, a Sr. Loan Processor will have greater authority in making decisions related to the loan process. This role will be empowered to handle exceptions or make judgment calls in situations that are not straightforward, assist in developing or revising processing procedures, and handle problematic or challenging cases that require a higher level of expertise.
What you will do:
- Under minimum supervision, performs at a proficient skill level all aspects of the department including advanced knowledge of loan documentation software (e.g. LaserPro or Encompass) for First and Second Lien Mortgages. Reviews all loan applications, including the most complex and non-standard cases, for completeness and accuracy. Verify applicant information, income, employment history, and credit.
- Must be able to process all types of loan files within the pipeline at different stages of the loan process. Order, collect, verify, and analyze documentation required for submitting files to Underwriting. Order and follow up with third-party vendors. Calculate income and read tax returns and other income documentation. Manage the pipeline, meeting contingencies and close of escrow dates.
- Assure loan packages are accurate and compliant with State and Federal Regulations, RESPA, Reg Z, HMDA, and Reg B, etc. Ability to order AUS, comprehend and clear AUS conditions/findings. Ability to prioritize daily work to meet deadlines and adjust to last-minute changes.
- Collect and organize all necessary documentation from the sales team. Order verifications and validate documentation and information.
- Maintain clear and open communication with the sales team, underwriters, escrow, etc., throughout the loan process. Prepare and submit complete loan files to underwriting for approval.
- Ensure compliance with all federal and state regulations governing mortgage lending.
- Identify and resolve any issues or discrepancies in the loan file. Manage the loan pipeline to meet processing deadlines, loan contingencies, and closing dates.
- Participates in departmental projects. May oversee the work of less experienced loan processors. Performs all other job duties as assigned by supervisor.
Who you are:
- Minimum 5 years of applicable experience required. High School or GED required.
- Preferred experience at Independent Mortgage Banks (IMB) within years of expertise.
- Experience with both conventional and government loan products as well as correspondent, delegated, non-delegated, broker, CalHFA, USDA.
- Ability to maintain a positive and friendly attitude even when under pressure.
- Ability to work effectively without direct supervision.
- Ability to comprehend and interpret Bank policies and procedures.
- Possess effective time management and organizational skills.
- Demonstrates teamwork in facilitating workflow. High level of cooperation with others and is responsive to the Bank's needs.
- Exemplary motivation, enthusiasm, professionalism, and team skills.
- Have a high level of accuracy and great attention to detail.
- Strong analytical and problem-solving skills.
- Demonstrates excellent customer service skills.
- Ability to cope with pressure resulting from meeting required deadlines, reporting requirements, and training responsibilities.
- Exhibit a high degree of professionalism and confidentiality in handling and having access to sensitive customer or employee information.
- Ability to handle constant use of tact, discretion, and good judgment.
- Ability to travel between bank locations and/or commute for training purposes - less than 25%.
Pay Range: $26.00 - $33.00 hourly
Final compensation package will be determined by the work experience, education, and/or skill level of the applicant along with internal equity and alignment with geographic market data.
Mechanics Bank is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, sex, sexual orientation, religion, national origin, age, genetic information, veteran status, or on the basis of disability, gender identity, sexual orientation, or other bases prohibited by applicable law.
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