Salem Five Bank
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Loan Processing Manager
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Salem Five Bank This position requires the ability to work in the Salem, MA office. Salem Five is a growing regional financial services organization with a history of over 160 years. As an independent bank, we are rooted in the communities we serve and offer our employees successful and rewarding careers. Salem Five operates more than 30 retail banking branches across Essex, Middlesex, Norfolk and Suffolk counties, with strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families. The bank supports communities through its Charitable Foundation and local events. Essential duties and responsibilities
Provides oversight, management, training and support to the Loan Analysts to ensure policies and procedures are followed while maintaining high levels of customer service for borrowers, loan officers and banking personnel. Monitor and manage the processing pipeline to ensure loans are addressed in a timely manner, including movement of the pipeline, updated estimated closing dates, commitment dates and use of the Encompass LOS for complete transparency of loan file status. Ensure Loan Analysts perform thorough reviews of loan documentation and provide accurate information to expedite loan approvals while maintaining quality documentation. Provide regular training and support to new and existing Loan Analysts; identify new processes and methodologies to improve processing efficiency. Provide coverage for Loan Analysts as needed, including processing Salem Five employee loan files. Adopt new technologies to support operations and customers; demonstrate flexibility and the ability to learn and adapt to change. Create written procedures for all Loan Analyst functions and distribute updates to staff at least quarterly on the mortgage intranet. Identify inconsistencies or inefficiencies and collaborate with management to implement changes. Obtain and review all documents in mortgage loan files to ensure completeness, accuracy and compliance with Bank/Investor guidelines. Maintain relationships with third-party vendors (verification services, credit reporting agencies, mortgage insurers). Review and escalate loans requiring flood insurance to ensure compliance with flood policies. Develop ongoing knowledge of mortgage underwriting fundamentals, the bank’s residential mortgage products and secondary market requirements (e.g., FHLMC, FNMA, FHA, VA, Rural housing). Maintain understanding of mortgage compliance (e.g., FACTA, FCRA, TRID, ECOA, BSA, HMDA). Collaborate with the Underwriting Manager and Mortgage Underwriters to provide feedback on loan-level and underwriting matters; pre-underwrite loans where applicable and make preliminary lending recommendations. Maintain processing and underwriting reports as required by management. Work with the SVP of Mortgage Operations on projects and procedural changes to ensure accuracy, efficiency and compliance. Assume additional responsibilities as requested. Supervisory responsibilities
Manages all loan processing. Responsible for the overall direction, coordination and evaluation of Loan Analysts and support teams, including recruiting, interviewing, hiring, coaching, and training; planning and directing work, evaluating performance; and addressing issues in accordance with company policies and laws. Education and/or experience
Bachelor's degree from a four-year college or university; or one to two years related experience and/or training; or an equivalent combination of education and experience. Physical demands
The physical demands described here are representative of those that must be met by an employee to perform the essential functions of this job. Reasonable accommodations may be made for individuals with disabilities. While performing the duties of this job, the employee is frequently required to sit; use hands to finger, handle or feel; and talk or hear. The employee is occasionally required to stand, walk, reach with hands and arms, and occasionally lift and/or move up to 10 pounds. Specific vision abilities required include close vision. Benefits and compensation
Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more. Salary: Competitive Base. How to apply
Ready to apply? Click on Apply/Apply Now in this posting. Qualified candidates may also submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970. No unsolicited resumes accepted from agencies. Job details
Seniority level: Mid-Senior level Employment type: Full-time Job function: Management Industries: Banking
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Loan Processing Manager
role at
Salem Five Bank This position requires the ability to work in the Salem, MA office. Salem Five is a growing regional financial services organization with a history of over 160 years. As an independent bank, we are rooted in the communities we serve and offer our employees successful and rewarding careers. Salem Five operates more than 30 retail banking branches across Essex, Middlesex, Norfolk and Suffolk counties, with strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families. The bank supports communities through its Charitable Foundation and local events. Essential duties and responsibilities
Provides oversight, management, training and support to the Loan Analysts to ensure policies and procedures are followed while maintaining high levels of customer service for borrowers, loan officers and banking personnel. Monitor and manage the processing pipeline to ensure loans are addressed in a timely manner, including movement of the pipeline, updated estimated closing dates, commitment dates and use of the Encompass LOS for complete transparency of loan file status. Ensure Loan Analysts perform thorough reviews of loan documentation and provide accurate information to expedite loan approvals while maintaining quality documentation. Provide regular training and support to new and existing Loan Analysts; identify new processes and methodologies to improve processing efficiency. Provide coverage for Loan Analysts as needed, including processing Salem Five employee loan files. Adopt new technologies to support operations and customers; demonstrate flexibility and the ability to learn and adapt to change. Create written procedures for all Loan Analyst functions and distribute updates to staff at least quarterly on the mortgage intranet. Identify inconsistencies or inefficiencies and collaborate with management to implement changes. Obtain and review all documents in mortgage loan files to ensure completeness, accuracy and compliance with Bank/Investor guidelines. Maintain relationships with third-party vendors (verification services, credit reporting agencies, mortgage insurers). Review and escalate loans requiring flood insurance to ensure compliance with flood policies. Develop ongoing knowledge of mortgage underwriting fundamentals, the bank’s residential mortgage products and secondary market requirements (e.g., FHLMC, FNMA, FHA, VA, Rural housing). Maintain understanding of mortgage compliance (e.g., FACTA, FCRA, TRID, ECOA, BSA, HMDA). Collaborate with the Underwriting Manager and Mortgage Underwriters to provide feedback on loan-level and underwriting matters; pre-underwrite loans where applicable and make preliminary lending recommendations. Maintain processing and underwriting reports as required by management. Work with the SVP of Mortgage Operations on projects and procedural changes to ensure accuracy, efficiency and compliance. Assume additional responsibilities as requested. Supervisory responsibilities
Manages all loan processing. Responsible for the overall direction, coordination and evaluation of Loan Analysts and support teams, including recruiting, interviewing, hiring, coaching, and training; planning and directing work, evaluating performance; and addressing issues in accordance with company policies and laws. Education and/or experience
Bachelor's degree from a four-year college or university; or one to two years related experience and/or training; or an equivalent combination of education and experience. Physical demands
The physical demands described here are representative of those that must be met by an employee to perform the essential functions of this job. Reasonable accommodations may be made for individuals with disabilities. While performing the duties of this job, the employee is frequently required to sit; use hands to finger, handle or feel; and talk or hear. The employee is occasionally required to stand, walk, reach with hands and arms, and occasionally lift and/or move up to 10 pounds. Specific vision abilities required include close vision. Benefits and compensation
Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more. Salary: Competitive Base. How to apply
Ready to apply? Click on Apply/Apply Now in this posting. Qualified candidates may also submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970. No unsolicited resumes accepted from agencies. Job details
Seniority level: Mid-Senior level Employment type: Full-time Job function: Management Industries: Banking
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