Bank Loan Processor - First Federal

Position: Loan Processor

Location: McMinnville Home Office Branch

Hours Per Week: Full Time - 40

Schedule: Monday - Friday

Loan Processor is the entry position in the loan processing support series. Incumbents at this level must develop and maintain a thorough knowledge of all consumer and mortgage lending products and all financial and regulatory information required. Incumbent may specialize in mortgage loan processing or perform assignments including both consumer and mortgage loan processing.

Principal Accountabilities:

Loan Processing: Responsible for organizing and completing departmental projects and work assignments while consistently adhering to department and Association policies, procedures and regulatory guidelines.

• Complete initial review of new loan files for proper forms, signatures and disclosure requirements.
• Ensure that disclosures are completed within regulatory requirements and time frames.
• Develop and demonstrate ability to prioritize work flow so that time sensitive deadlines are handled in priority order.
• Assemble loan file and complete initial document preparation. Send verifications of employment and deposits and run credit report.
• Reviews verifications for errors, discrepancies, and uninitiated whiteout or changes on verifications upon receipt.
• In collaboration with Loan Officers and Loan Underwriters, manage a pipeline of moderately complex loans in process, updating files and documenting activity as it occurs.
• Prepare and send pre-qualification letters if applicable, complete commitment, withdrawn applications, or adverse action letters as appropriate.
• Assemble loan file and complete tasks related to ordering documents required by policy to complete a loan file. (i.e. flood hazard determination check, updating commitment log, collecting and documenting HMDA information, appraisals, preliminary title reports, CC&R's, and insurance, etc.)
• Send final application and associated loan documents to Borrower or Title Company as applicable, for signature.
• Work up final loan documents for submission to Underwriter/Loan Officer and manage file to closing. Prepare files for Quality Control (QC) process, resolve QC issues in a prompt and efficient manner.
• Develop and maintain familiarity with unique documentation requirements such as when collateral improvements may include leased ground, lot loans, loans with balloon payments, adjustable rate mortgage, special disclosures, condominiums, homeowner's association agreements and riders to deeds of trust, Assignment of Rents, etc..
• Complete and obtain signatures for modification, extension and skip-payment agreements.
• Assist customers and other financial institutions with loan payoff requests.
• Provide back-up support within the Loan Operations Department as needed.

Construction Lending: Incumbent may have the opportunity to develop processing tasks related to construction loans for residential mortgage loans with oversight and guidance. The following tasks represent part or all of the skill sets that incumbent may have an opportunity to develop:

• Maintain master builder files, obtain current financial information, verify and document contractor licensing.
• Coordinate monthly construction inspections.
• Prepare completion notices as necessary and record, within required timeframe, upon posting.
• Ensure that appropriate loan, budget, and collateral forms are prepared and signed and loan file established.
• Calculate percentage of completion and funds remaining, validating to construction inspections.
• Match all invoices to draw requests and present draw request for management approval.
• With guidance, disburse construction draw funds as requested and approved, completing general ledger entries.
• Upon completion of construction phase, prepare documentation to roll construction-to-perm loans to permanent status. Notify Borrower of status change and ensure loan accounting system is appropriately updated.

Communication: Establish and maintain effective rapport within the department as well as with other internal/external customers, vendors, management, etc., to ensure quality services and products.

• Maintain written instructions for all assigned tasks and ensures that other personnel are cross trained on key duties.
• Prepare correspondence related to lending processes or functions as necessary.
• Compose professional letters to loan applicants requesting missing items (i.e. bank statements, pay stubs, W-2's, tax returns etc.).
• Responds timely to loan applicant inquiries such as loan status.
• Maintains regular communication with Title Company and coordinates loan closing.
• Keep manager informed of all activities and/or concerns, suggestions, etc. Solicits assistance and guidance as necessary.
• Participates in volunteer activities that enhance the efforts and goals of the Association.
• Contribute to team work by taking the initiative to assist co-workers, actively participating in staff meetings and on internal Association committees, suggesting productivity improvements, complying with attendance and other human resource policies, and being pro-active in problem resolution.

Compliance: Act in accordance with the highest standards of personal and professional integrity in all aspects of your activities, comply with applicable laws, rules and regulations.

• Adhere to all state and federal lending regulations.
• Adhere to First Federal's BSA/AML policies, procedures and processes.
• Complete required compliance training, including BSA/AML and loan compliance training programs and be able to pass tests to demonstrate your knowledge of these regulations.
• Immediately report suspicious activity to the BSA Officer; be aware that noncompliance could mean demotion, reassignment or termination of employment or significant civil and criminal penalties.

Other Duties: The foregoing job description is not intended to be, nor is it a complete list of all of the duties and responsibilities of this position. The position will include other duties and responsibilities as directed. Incumbent will provide back-up within department as assigned.

Minimum Job Requirements:

• A., degree in Business Administration preferred, or High School Diploma and a minimum of one to three years of consumer and mortgage loan processing and/or servicing experience desired.
• Knowledge of basic lending policies and procedures including state and federal lending regulations. Understanding of secondary marketing practices and requirements (FHLMC, FNMA etc.) as may be required.
• Ability to operate various office equipment including personal computer, printers, Fax machine, 10-key adding machine, multi-line telephone, laminator, copy machine, scanners, etc.
• Professional written and effective verbal communication skills.
• Working knowledge of Microsoft Word and Excel required. Proficient in the use of Outlook and company loan systems.
• Demonstrated effective time management and organizational skills.
• Effective interpersonal skills to relate to a variety of managers, executives, directors, customers, and employees; public relations skills; tact, diplomacy, and patience.
• Ability to work effectively in a team environment as well as accomplish work assignments with minimal direct supervision.
• Notary Public licensing required.
• Ability to manage highly confidential information and effectively protect non-public information.
• Ability to use good judgment and make appropriate decisions within scope of authority.
• Ability to work on several projects simultaneously and with a variety of employees, managers, executives, etc.
• Ability to work under pressure and tight deadlines with frequent interruptions.
• Ability to meet bonding requirements for employment purposes.
• Licensing Requirements: Employees that: (1) take residential mortgage loan applications and (2) offer or negotiate terms of a residential mortgage loan will be required to: 1) register with the Nationwide Mortgage Licensing System & Registry and complete a MU4R filing notice, 2) to provide fingerprints and 3) to authorize a criminal background screen through the Registry in compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). First Federal will facilitate the individual registration and pay all applicable registration fees.

What We Offer:

• Competitive salary and benefits package
• Training and ongoing professional development
• Opportunities for career advancement within First Federal
• A supportive, team-oriented work environment where your contributions are valued

Ready to Apply? If you're ready to make a difference in the lives of our customers and grow your career in banking, we encourage you to apply today! Click https://firstfed.applicantpool.com/jobs/ to submit your application and join our team!

Deadline for Application: Position will remain open until filled.

First Federal is an Equal Opportunity Employer-Vets/Disabled, and committed to a diverse workforce. First Federal participates in the Federal E-Verify Program and is an Affirmative Action Employer. If you need assistance with completion of an application for employment, please contact the Human Resources Department at 503-435-3216 or email HumanResources@FirstFedWeb.com.

Key Concepts: Bank, Banking, Loan Operations, Processing, Mortgage, Consumer, Construction, Compliance, Financial

Pre-Employment Requirements: This position will have access to cash, financial instruments, financial transactions or confidential customer financial information. As a result, the following pre-employment screens are required:

• Pre-employment drug screen - excluding Marijuana
• Criminal background screen
• Consumer credit report