Mortgage Loan Processor

Mortgage Loan Processor

The Mortgage Loan Processor position processes and reviews all residential mortgage files to ensure adherence to regulatory compliance, secondary market guidelines, government agency requirements, and Bank policy. The information received from the Loan Officer is examined for completeness and sufficiency. Additional documentation is requested by Processor as necessary to complete the loan for underwriting. Once the loan is underwritten, this position obtains necessary documentation and information as required by the Underwriter, to insure the loan closes in the allotted time frame.

Duties & Responsibilities

• Organize and review initial information submitted within allotted time frame.
• Order the credit report updates, title commitments, verifications, and other services required by the loan program.
• Contact applicable parties to obtain additional documentation when needed. This may include borrower, seller, real estate agents, attorneys, etc.
• Follow up, validate, and review verifications, appraisal, flood certification, private mortgage insurance certificate, credit report, HOA / Condo letters, home owners insurance, title work, and any other documentation required by the loan program. Communicate problems and concerns with the Loan Officer and Underwriter.
• Calculate monthly income and debt, debt-to-income ratios, loan-to-value ratios, and sufficient funds to close with appropriate reserves as required by the loan program and investor.
• Upload all verified documentation into the loan origination system.
• Follow all investor and specific loan program guidelines.
• Field phone calls from mortgage customers and formulate the appropriate action needed to help them and enhance their relationship with Busey Bank. This includes assisting the Loan Originator with promoting Busey products to meet cross-sell goals.
• Assist the Loan Officer, Underwriter, and Closer with QC audit violations or any post-closing investor corrections.

Education & Experience

Knowledge of :

Ability to :

Education and Training :

Benefits and Compensation

Salary offered is based on factors, including but not limited to, the job duties, required qualifications and relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance.

(Base Pay Range : $19.50-$23.90 / hour)

Busey provides a competitive Total Rewards package in return for your time, talents, efforts and ultimately, results. Your personal and professional well-beingnow and in the years to comeare important to us. Busey's Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program.

In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts.

Equal Opportunity

Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey's commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability / Vets.