Salem Five Bank
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Loan Processing Manager
role at
Salem Five Bank .
Salem Five is a growing regional financial services organization with a rich history of over 160 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers. This position requires the ability to work in the Salem, MA office. Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Provides oversight, management, training and support to the Loan Analysts to ensure all policies and procedures are followed while providing a high level of customer service to both the borrowers, loan officers and banking personnel.
Monitor and manage the processing pipeline to ensure that all loans are addressed in a timely manner including efficient and timely movement of the pipeline, updated estimated closing dates, commitment dates and use of the Encompass LOS system allowing for complete transparency as to the status of all loan files.
Ensures that Loan Analysts are providing a thorough review of all loan documentation and providing accurate information in order to expedite the approval of loan files in a timely manner while ensuring a high degree of quality in loan documentation.
Provides training and support on a regular basis to both new and existing Loan Analysts while identifying new processes & methodologies to bring greater efficiencies to the processing role.
Provide coverage and support for Loan Analysts when needed including the processing of all Salem Five employee loan files.
Embrace new and emerging technologies to support operations and customers through flexibility and the ability to learn and adapt to change.
Create written procedures for all functions performed by the Loan Analysts, ensure all updates to process and procedures are distributed to staff and maintained on the mortgage intranet no less than quarterly.
Identify inconsistencies and/or inefficiencies with practices and/or procedures and work with management to make changes as necessary.
Obtain and review all documents in the mortgage loan file to ensure completeness, accuracy and compliance with Bank/Investor guidelines.
Maintain a relationship with third party vendors including but not limited to verification service providers, credit reporting agencies and mortgage insurance companies.
Review and escrow all loans that require flood insurance to ensure accuracy and compliance with flood policies and procedures.
Develop an ongoing knowledge of the fundamentals of mortgage underwriting, the Mortgage Company and Bank’s residential mortgage products and the basic requirements set forth by FHLMC, FNMA, FHA, VA, Rural state housing and other secondary market investors.
Maintain an understanding of mortgage compliance including but not limited to FactACT, FCRA, TRID, ECOA, BSA and HMDA.
Works directly with the Underwriting Manager and, when necessary, Mortgage Underwriters to provide feedback on both loan level issues and global underwriting matters.
Pre‑underwrites loans where applicable and makes preliminary recommendation for lending decision and/or eligibility.
Responsible for the maintenance of processing and underwriting reports as required by management.
Work with the SVP of Mortgage Operations on various projects and procedural changes to ensure accuracy, efficiency and compliance.
Assumes additional responsibilities as requested.
SUPERVISORY RESPONSIBILITIES Manages all loan processing. Is responsible for the overall direction, coordination, and evaluation of the Loan Analysts including the support teams such as pre‑closers. Performs responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include recruiting, interviewing, hiring, motivating, coaching and training employees; planning, assigning, and directing work & workflow; appraising performance; rewarding and disciplining employees; addressing and resolving issues.
EDUCATION AND/OR EXPERIENCE Bachelor’s degree (B. A.) from a four‑year college or university; or one to two years related experience and/or training; or equivalent combination of education and experience.
PHYSICAL DEMANDS 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, and reach with hands and arms. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision.
BENEFITS / INCENTIVES Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401(k) Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more.
SALARY RANGE $80,000 - $110,000.
APPLYING 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.
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Loan Processing Manager
role at
Salem Five Bank .
Salem Five is a growing regional financial services organization with a rich history of over 160 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers. This position requires the ability to work in the Salem, MA office. Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Provides oversight, management, training and support to the Loan Analysts to ensure all policies and procedures are followed while providing a high level of customer service to both the borrowers, loan officers and banking personnel.
Monitor and manage the processing pipeline to ensure that all loans are addressed in a timely manner including efficient and timely movement of the pipeline, updated estimated closing dates, commitment dates and use of the Encompass LOS system allowing for complete transparency as to the status of all loan files.
Ensures that Loan Analysts are providing a thorough review of all loan documentation and providing accurate information in order to expedite the approval of loan files in a timely manner while ensuring a high degree of quality in loan documentation.
Provides training and support on a regular basis to both new and existing Loan Analysts while identifying new processes & methodologies to bring greater efficiencies to the processing role.
Provide coverage and support for Loan Analysts when needed including the processing of all Salem Five employee loan files.
Embrace new and emerging technologies to support operations and customers through flexibility and the ability to learn and adapt to change.
Create written procedures for all functions performed by the Loan Analysts, ensure all updates to process and procedures are distributed to staff and maintained on the mortgage intranet no less than quarterly.
Identify inconsistencies and/or inefficiencies with practices and/or procedures and work with management to make changes as necessary.
Obtain and review all documents in the mortgage loan file to ensure completeness, accuracy and compliance with Bank/Investor guidelines.
Maintain a relationship with third party vendors including but not limited to verification service providers, credit reporting agencies and mortgage insurance companies.
Review and escrow all loans that require flood insurance to ensure accuracy and compliance with flood policies and procedures.
Develop an ongoing knowledge of the fundamentals of mortgage underwriting, the Mortgage Company and Bank’s residential mortgage products and the basic requirements set forth by FHLMC, FNMA, FHA, VA, Rural state housing and other secondary market investors.
Maintain an understanding of mortgage compliance including but not limited to FactACT, FCRA, TRID, ECOA, BSA and HMDA.
Works directly with the Underwriting Manager and, when necessary, Mortgage Underwriters to provide feedback on both loan level issues and global underwriting matters.
Pre‑underwrites loans where applicable and makes preliminary recommendation for lending decision and/or eligibility.
Responsible for the maintenance of processing and underwriting reports as required by management.
Work with the SVP of Mortgage Operations on various projects and procedural changes to ensure accuracy, efficiency and compliance.
Assumes additional responsibilities as requested.
SUPERVISORY RESPONSIBILITIES Manages all loan processing. Is responsible for the overall direction, coordination, and evaluation of the Loan Analysts including the support teams such as pre‑closers. Performs responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include recruiting, interviewing, hiring, motivating, coaching and training employees; planning, assigning, and directing work & workflow; appraising performance; rewarding and disciplining employees; addressing and resolving issues.
EDUCATION AND/OR EXPERIENCE Bachelor’s degree (B. A.) from a four‑year college or university; or one to two years related experience and/or training; or equivalent combination of education and experience.
PHYSICAL DEMANDS 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, and reach with hands and arms. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision.
BENEFITS / INCENTIVES Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401(k) Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more.
SALARY RANGE $80,000 - $110,000.
APPLYING 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.
#J-18808-Ljbffr