Busey Bank
Position Summary
The Mortgage Loan Processing Specialist plays a vital role in ensuring the effective processing and review of residential mortgage applications for 1st and 2nd mortgages, maintaining compliance with relevant regulations, guidelines, and Bank policies. This position collaborates closely with Loan Officers to gather essential documentation and facilitate a seamless underwriting process, enabling timely loan closures.
Duties & Responsibilities
Bilingual strongly preferred. Organize and assess initial information submitted within the designated time frame. Order necessary updates, including credit reports, appraisals, title commitments, verifications, and other required third-party services. Communicate effectively with all stakeholders, such as borrowers, sellers, real estate agents, and attorneys, to obtain any additional documentation required. Perform follow-ups, validate, and review essential documentation, including but not limited to verifications, appraisals, and insurance certificates, while coordinating with the Loan Officer and Underwriter to resolve any issues. Calculate critical financial metrics, such as income, debt-to-income ratios, loan-to-value ratios, and ensure sufficient funds are available for closing. Upload all verified documentation into the designated loan origination system. Adhere to all investor and specific loan program guidelines. Field calls from mortgage customers, providing timely assistance and enhancing their relationship with Busey Bank, including helping Loan Officers promote Busey products. Support the Loan Officer, Underwriter, and Closer in addressing Quality Control audit violations or any Post-Closing investor corrections. Education & Experience
Knowledge of: Strong oral and written communication skills. Secondary market guidelines. Regulatory compliance. Bank policies. Strong organizational skills. Ability to: Protect the confidentiality of customer information. Effectively manage a loan pipeline of 20-30 loans. Maintain consistent communication with all parties throughout the loan process. Analyze information and make independent decisions as necessary. Perform effectively under time constraints. Solve problems independently using logic and discretion. Education and Training: High School diploma required. Minimum of 2 years of related banking experience. Preferred: 2 or more years of experience in Loan Processing (CONV/FHA/VA/USDA). Experience in processing and underwriting all loan types is required. Proficiency in Microsoft Office is necessary. Benefits and Compensation The salary offered will be based on factors including job duties, qualifications, relevant experience, and local market trends. This role may be eligible for bonuses or incentives based on both individual and company performance. (Base Pay Range: $19.50-$23.90/hour) Busey offers a competitive Total Rewards package to value your contributions. Your well-being, both personal and professional, is important to us, and our benefits include a 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, and employee assistance programs. Eligible associates can also utilize pre-tax health savings accounts and flexible spending accounts. Equal Opportunity Busey values diversity and inclusivity in the workplace and is committed to recruiting, developing, and retaining talented individuals. A diverse team is essential for delivering exceptional service. Busey is an Equal Opportunity Employer, including Disability/Vets. Unsolicited Resumes Busey Bank and its subsidiaries do not accept liability for fees from recruiters or employment agencies without a binding, written agreement. Busey may consider candidates submitted by agencies without a formal agreement and reserves the right to hire those candidates without financial obligation. Agencies are asked not to contact Busey associates regarding recruiting inquiries or resumes.
Bilingual strongly preferred. Organize and assess initial information submitted within the designated time frame. Order necessary updates, including credit reports, appraisals, title commitments, verifications, and other required third-party services. Communicate effectively with all stakeholders, such as borrowers, sellers, real estate agents, and attorneys, to obtain any additional documentation required. Perform follow-ups, validate, and review essential documentation, including but not limited to verifications, appraisals, and insurance certificates, while coordinating with the Loan Officer and Underwriter to resolve any issues. Calculate critical financial metrics, such as income, debt-to-income ratios, loan-to-value ratios, and ensure sufficient funds are available for closing. Upload all verified documentation into the designated loan origination system. Adhere to all investor and specific loan program guidelines. Field calls from mortgage customers, providing timely assistance and enhancing their relationship with Busey Bank, including helping Loan Officers promote Busey products. Support the Loan Officer, Underwriter, and Closer in addressing Quality Control audit violations or any Post-Closing investor corrections. Education & Experience
Knowledge of: Strong oral and written communication skills. Secondary market guidelines. Regulatory compliance. Bank policies. Strong organizational skills. Ability to: Protect the confidentiality of customer information. Effectively manage a loan pipeline of 20-30 loans. Maintain consistent communication with all parties throughout the loan process. Analyze information and make independent decisions as necessary. Perform effectively under time constraints. Solve problems independently using logic and discretion. Education and Training: High School diploma required. Minimum of 2 years of related banking experience. Preferred: 2 or more years of experience in Loan Processing (CONV/FHA/VA/USDA). Experience in processing and underwriting all loan types is required. Proficiency in Microsoft Office is necessary. Benefits and Compensation The salary offered will be based on factors including job duties, qualifications, relevant experience, and local market trends. This role may be eligible for bonuses or incentives based on both individual and company performance. (Base Pay Range: $19.50-$23.90/hour) Busey offers a competitive Total Rewards package to value your contributions. Your well-being, both personal and professional, is important to us, and our benefits include a 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, and employee assistance programs. Eligible associates can also utilize pre-tax health savings accounts and flexible spending accounts. Equal Opportunity Busey values diversity and inclusivity in the workplace and is committed to recruiting, developing, and retaining talented individuals. A diverse team is essential for delivering exceptional service. Busey is an Equal Opportunity Employer, including Disability/Vets. Unsolicited Resumes Busey Bank and its subsidiaries do not accept liability for fees from recruiters or employment agencies without a binding, written agreement. Busey may consider candidates submitted by agencies without a formal agreement and reserves the right to hire those candidates without financial obligation. Agencies are asked not to contact Busey associates regarding recruiting inquiries or resumes.