Perform loan processing and set-up duties associated with the documentation and posting necessary in granting credit to the Bank’s borrows. Incumbents will be expected to have a good understanding of the functional area so that they may perform competently in this area by performing the following duties.
Perform full range of duties pertaining to the real estate loan processing function, including, but not limited to the following:
Interviewing loan applicants to obtain information necessary to complete application.
Complete loan documentation.
Work with the underwriter regarding loan approval.
Communicate business decision regarding acceptance or denial to applicants.
Review closing costs.
Mortgage life insurance.
Truth in Lending and any other required disclosures with customers.
Obtain customer signatures on all required documents and disclosure.
Order credit reports.
Calculate loan to value ratios, principal, interest, taxes, homeowner’s insurance, and PMI insurance to income, and all other payments to income to determine feasibility of loan and proper loan category.
Compute loan payments to include principal and interest.
May discuss loan approval with supervisor.
Other residential loan officers, and underwriter; contact customers regarding questions.
Make decisions and notifies customer.
Quote rate and term of loan.
Educate customers regarding locking in loans and potential ramifications of not finalizing.