Loan Processing Manager
The Loan Processing Manager will work with the loan processors to insure that they are within compliance with all the rules and regulations. Also, working with the loan processors to make sure that they have the most accurate and up to date training on any changes.
- Train any new loan processor that is hired to insure that they understand the loan processing position.
- When any new changes come to the loan processing position insure that all the loan processors understand and are up to speed on what has changed.
- Hold training sessions with the loan processors for any new changes on upcoming processing or guideline rules and regulations.
- Attend pipeline meetings with Production Manager, Loan Officer, and loan processor.
- Maintain reports to track progress of loan process, which includes communication with loan officer, underwriting department, borrower and third parties.
- Monitor for compliance with all regulations.
- Review files to make sure loans are in compliance with TRID on the 3 day disclosures/re-disclosures and 30-day decision making.
- Monitor change circumstances to insure that they are in compliance with the descriptions of change circumstances.
- Review and maintain monthly forecast of loans to be closed from each loan officer’s pipelines.
- Maintain a report for each month of the purchases and refinances that each loan officer would like to close that month.
- Attend operation meetings to review current turnaround times on loan files.
- Review any new and upcoming regulation changes.
- Discuss any new or current operational issues or concerns within the department.
- Review and approve all time sheet for the loan processors.
- Insure that the days and hours are correct for each day the loan processor has worked or have taken off for vacation, sick or personal days.
- Review and approval all Max Plans submitted by the loan processors. Work with the loan processors to insure that the information provided on the Max Plan is current and accurate.
- Complete any 90-day evaluation for all new loan processors.
- Working with the new loan processor on goals that we have set for them and reviewing the information on the items that the loan processor is doing well at and items that need improvement.
- Be able to do disciplinary action if the need arises.
- Review and compile loan file that is received from a loan officer or broker in the appropriate stack order and Process contents to Loan Policies of National Cooperative Bank, NA, Investor Guidelines (FNMA), Mortgage Insurance Companies Guidelines and Federal Compliance Regulations. Once processing is complete, responsible for submission to Underwriting Department for loan decision. Completes and sends out all disclosures to borrowers (must be in compliance regulations). Processes all change of circumstances on loan files. Assure loan files meet all Regulatory Compliance.
- Review commitment letter issued by underwriting department. Work directly with borrower and/or Loan Officer/ Broker to obtain stated conditions. Responsible to review the conditions and assure condition meets guideline. Update the loan application file and mortgage loan processing system with the updated condition from the borrower. Track all conditions of each loan file and any communication made with the borrower or any third parties.
- Work with the other loan processors, underwriters, and loan officers on getting files cleared for closing to help reach our monthly goals and reduce turnaround times. Working with the loan processors, underwriters, and loan officers on getting any additional information needed to clear the file for closing from the borrowers or any third party vendor.
- Review and set up all VIP loan applications for all loan officers.
- Review monthly QC reports. Follow up with team and implement any changes that need to occur to comply monthly.
- Process payments for Third Party invoices and assist NCB accounting department with account balancing of related companies.
- Two year college degree or two year job related experience
- Mortgage loan processing experience
- Supervisor experience
- General computer knowledge, as well as Microsoft and Excel
- Skills for oral and written communication, organization, flexibility, and knowing how the mortgage process works
- Ability to use the phone, fax machines, copiers, and typewriter
- Having the ability to work in a timely fashion and learn new procedures quickly
Working Together. Building Community. It is more than our mission; it is the way we do business with our customers, and it is the employee culture of the bank. We offer a great place for people to work. We actively promote an inclusive environment where all employees have the opportunity to achieve professional and personal success and contribute to the organization and the community.
National Cooperative Bank, N.A. is an Equal Employment Opportunity Employer (EOE/AA)