Description
POSITION SUMMARY:
This position is responsible for reviewing all residential mortgage loans for compliance with bank policies, procedures and regulatory guidance; reviewing title work to verify that the bank will secure the correct property and identifying title items that may need to be addressed, ensuring files are documented accordingly; assisting internal audit/compliance liaisons with regulatory compliance exams; and for supporting Bank products and services.
KEY RESPONSIBILITIES:
Quality Control Review: Review all residential loan files for accuracy pre and post-closing, including verifying tax proration, confirming payoffs, reviewing title examinations, reviewing documentation for accurateness, verifying fees were properly disclosed and collected, verifying loan approval authorities, verifying loan products parameters, checking for any loan policy issues, reviewing the Closing Disclosure to ensure accuracy and ensuring the file is in overall compliance with lending regulations and Bank policy.
Title Review: Review title work to confirm that the property search matches the property being secured; identify title problems and assist loan officers to resolve problems if needed; coordinate with title attorneys to determine if lender’s title insurance may be required; prepare a Schedule A legal description that can be attached to the Mortgage; forward proposed documents to title attorney for review and approval; review recording packages prior to recording to ensure correct documents are being recorded in the appropriate order. Monitor receipt of final title policies, follow-up as necessary to ensure policies are received within specified timeframes. Review final titles for accuracy and acceptability; resolving issues as necessary. Log final titles according to bank procedures. Follow up on any final titles that have not been received in a timely manner.
Assist lenders and closing processors, as needed, with closing preparation including conducting UCC searches, speaking with brokers and calling for proration, payoffs and other information necessary for closing.
Comply with all Federal and State banking regulations and all Bank and department policies and procedures. Meet or exceed established objectives and standards for Residential Loan Quality Control Specialist performance.
Loan account maintenance: Maintain loan account records and process changes as appropriate. Keep loan files up-to-date and in good order.
Report production: Assist the Residential Closing Manager in the preparation of lending reports as required.
Customer service: Respond to lenders, customers, attorneys, and realtors’ inquiries concerning loan rates, products or application status. Provide prompt, courteous service to customers. Refer prospective customers to loan officers or other Bank staff members as appropriate; refer problems and complaints to the Loan Processing
Manager.
Support Bank products/services: Maintain knowledge of current KSB products and services. Actively utilize as many Bank products and services as possible in order to fully understand their features and benefits and to be able to communicate effectively with customers and prospective customers.
Talk to customers and listen for “cues and clues” to determine needs; respond to customer inquiries and evaluate their needs; suggest Bank products/services to customers to meet their needs; make referrals to other Bank personnel as appropriate.
Community/public relations: Actively participate in community organizations and events. Represent the Bank in the community.
Other duties: Demonstrate reliable attendance and punctuality. Handle telephone inquiries and provide information to customers, vendors and other departments in a professional and courteous manner. Attend and participate in Bank meetings. Attend internal and external training to improve skills and knowledge relevant to the loan processing clerk position. Understand and fully comply with Kennebec Savings Bank’s Core Values. Perform other duties as required.
Requirements
EDUCATION/EXPERIENCE REQUIRED:
- High school graduate.
- 5-7 years’ experience in mortgage or loan processing/servicing.
- Computer literate, with experience in word processing and spreadsheet applications; experience with loan processing systems desirable.
- Title abstracting experience is preferred.
OTHER REQUIREMENTS:
- Must be able to lift files and other documents of approximately 20 pounds.
- Must be able to read and work with computer printout reports.
- Must be able to stand or sit for extended periods of time.
- Must be able to spend extended periods of time operating a computer keyboard and working at a computer monitor.
- Must be able to use the telephone to converse with coworkers and vendors for extended periods of time; must be able to communicate clearly by telephone; must have good listening ability and skills.
- Must be able to prioritize and organize workflow; must have good attention to detail; must be able to handle multiple jobs.
- Must have the ability to think through a problem, following proper steps in finding resolution.
- Must have a high degree of ethics and maintain confidentiality of customers and accounts.
- Must be friendly, courteous and sensitive to the needs of customers and co-workers.
This position is responsible for reviewing all residential mortgage loans for compliance with bank policies, procedures and regulatory guidance; reviewing title work to verify that the bank will secure the correct property and identifying title items that may need to be addressed, ensuring files are documented accordingly; assisting internal audit/compliance liaisons with regulatory compliance exams; and for supporting Bank products and services.
KEY RESPONSIBILITIES:
Quality Control Review: Review all residential loan files for accuracy pre and post-closing, including verifying tax proration, confirming payoffs, reviewing title examinations, reviewing documentation for accurateness, verifying fees were properly disclosed and collected, verifying loan approval authorities, verifying loan products parameters, checking for any loan policy issues, reviewing the Closing Disclosure to ensure accuracy and ensuring the file is in overall compliance with lending regulations and Bank policy.
Title Review: Review title work to confirm that the property search matches the property being secured; identify title problems and assist loan officers to resolve problems if needed; coordinate with title attorneys to determine if lender’s title insurance may be required; prepare a Schedule A legal description that can be attached to the Mortgage; forward proposed documents to title attorney for review and approval; review recording packages prior to recording to ensure correct documents are being recorded in the appropriate order. Monitor receipt of final title policies, follow-up as necessary to ensure policies are received within specified timeframes. Review final titles for accuracy and acceptability; resolving issues as necessary. Log final titles according to bank procedures. Follow up on any final titles that have not been received in a timely manner.
Assist lenders and closing processors, as needed, with closing preparation including conducting UCC searches, speaking with brokers and calling for proration, payoffs and other information necessary for closing.
Comply with all Federal and State banking regulations and all Bank and department policies and procedures. Meet or exceed established objectives and standards for Residential Loan Quality Control Specialist performance.
Loan account maintenance: Maintain loan account records and process changes as appropriate. Keep loan files up-to-date and in good order.
Report production: Assist the Residential Closing Manager in the preparation of lending reports as required.
Customer service: Respond to lenders, customers, attorneys, and realtors’ inquiries concerning loan rates, products or application status. Provide prompt, courteous service to customers. Refer prospective customers to loan officers or other Bank staff members as appropriate; refer problems and complaints to the Loan Processing
Manager.
Support Bank products/services: Maintain knowledge of current KSB products and services. Actively utilize as many Bank products and services as possible in order to fully understand their features and benefits and to be able to communicate effectively with customers and prospective customers.
Talk to customers and listen for “cues and clues” to determine needs; respond to customer inquiries and evaluate their needs; suggest Bank products/services to customers to meet their needs; make referrals to other Bank personnel as appropriate.
Community/public relations: Actively participate in community organizations and events. Represent the Bank in the community.
