This posting specifically includes the TRID emphasized section of the description below. Recent TRID mortgage loan processing experience is required for this opening.
Mountain Valley Bank
Job Description
Loan Operations / Centralized Processing
Position Summary
The Processor supports the Bank’s lending function by facilitating the accurate and timely processing of assigned loans from application through closing, booking, or other final disposition. The position reviews documentation, verifies borrower and collateral information, maintains accurate loan data, tracks outstanding items and conditions, and works with internal and external parties throughout the loan process. Depending on business needs and assignment, the Processor may support general consumer, commercial, residential mortgage, or other loan products, including consumer-purpose residential mortgage loans subject to the TILA-RESPA Integrated Disclosure (TRID) requirements.
Essential Duties and Responsibilities
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Review loan applications, approvals, and supporting documentation for completeness, accuracy, consistency, and compliance with established requirements.
- Collect, organize, and review required loan documentation and follow up on missing, incomplete, or inconsistent information.
- Obtain and verify borrower and loan information, which may include identity, employment, income, assets, credit, collateral, insurance, and other information applicable to the assigned loan type.
- Enter and maintain complete and accurate loan information, documentation, notes, dates, fees, and status information in the Bank’s core system, loan origination system, and other applicable systems.
- Monitor assigned loan files and pipelines, prioritize deadlines, track outstanding documentation and conditions, and communicate file status to appropriate parties.
- Request, receive, review, and route documentation or conditions required for underwriting, approval, closing, booking, or post-closing follow-up, as applicable.
- Review loan documents and system information for consistency with approved loan terms and applicable processing requirements before closing or booking.
- Work collaboratively with loan officers, underwriters, internal departments, customers, and applicable third-party service providers to facilitate timely loan processing, approval, documentation, closing, and booking.
- Communicate clearly and professionally regarding documentation needs, file status, deadlines, discrepancies, and processing issues.
- Identify and help resolve missing information, discrepancies, and documentation issues and promptly refer exceptions or potential compliance concerns to the appropriate manager or compliance resource.
- Process and maintain assigned loan files in accordance with applicable laws and regulations, investor or secondary-market guidelines when applicable, and Bank policies and procedures.
- Protect confidential customer and Bank information and maintain complete, accurate, and organized loan records.
- Complete required training and maintain current knowledge of procedures, products, systems, and regulatory requirements applicable to assigned responsibilities.
- Perform other job-related duties as assigned consistent with the nature of the position.
Additional Duties When Assigned TRID/Mortgage Processing
The following duties apply when the Processor is assigned consumer-purpose residential mortgage loans subject to TRID or related mortgage requirements:
- Prepare, issue, and document required Loan Estimates, Closing Disclosures, revised disclosures, and other applicable notices within required regulatory timeframes and established procedures.
- Monitor changed circumstances, fee changes, tolerance requirements, waiting periods, and evidence of receipt or delivery and promptly escalate potential disclosure, fee, timing, or compliance exceptions.
- Order, obtain, and review third-party documentation and services, which may include appraisals, title work, flood determinations, tax information, verifications, and insurance documentation.
- Submit complete loan files for underwriting and request, track, review, and clear conditions in coordination with the loan officer and underwriter.
- Coordinate with loan officers, underwriters, title companies, attorneys, settlement or closing agents, and other parties to support accurate documentation and timely closings.
- Review fees, loan terms, closing information, and loan documents for consistency among the loan origination system, approved terms, supporting documentation, and applicable disclosure requirements.
- Process assigned mortgage loans in accordance with TRID, TILA, RESPA, applicable federal and state requirements, investor guidelines when applicable, and Bank policies and procedures.
Supervisory Responsibilities
This position has no supervisory responsibilities.
Qualifications
Education
- High school diploma or equivalent required.
- Additional education or training in banking, finance, business, mortgage lending, or a related field preferred.
Experience
- Previous loan processing, loan documentation, banking, mortgage, or comparable financial services experience required.
- Experience with the Bank’s core processing, loan documentation, or loan origination systems preferred.
- For assignments involving TRID-covered residential mortgage loans, recent TRID mortgage loan processing experience is required; three years of relevant experience is preferred.
- For TRID/mortgage assignments, experience processing conventional consumer-purpose residential mortgage loans and experience with Mortgage Builder or a comparable mortgage loan origination system are preferred.
Knowledge, Skills and Abilities
- Working knowledge of loan processing procedures, loan documentation requirements, and banking and lending regulations applicable to assigned loan products.
- Ability to review loan documentation and system information for completeness, accuracy, consistency, and compliance with established requirements.
- Strong organizational and time-management skills with the ability to manage multiple loan files, competing priorities, and established deadlines.
- High attention to detail and the ability to identify missing information, discrepancies, documentation concerns, and potential timing issues.
- Strong problem-solving and critical-thinking skills and the ability to follow through on outstanding items.
- Clear, professional written and verbal communication and the ability to provide effective internal and external customer service.
- Ability to work independently within established procedures, exercise sound judgment, escalate exceptions appropriately, and collaborate effectively with others.
- Ability to maintain confidentiality and protect customer and Bank information.
- Proficiency in Microsoft Outlook, Excel, and Word and the ability to learn and use Bank systems.
- For TRID/mortgage assignments, working knowledge of TRID, TILA, RESPA, mortgage disclosure timing and documentation requirements, underwriting conditions, title and closing requirements, and the residential mortgage lending process.
Physical Requirements
The physical demands described here are representative of those that must be met to perform the essential functions of this position. The employee is regularly required to sit, use a computer and other office equipment, communicate in person and by telephone, and review electronic and printed documents. The employee may occasionally be required to stand, walk, reach, bend, and lift or move items weighing up to 20 pounds. Specific vision abilities include close vision and the ability to adjust focus.
Working Conditions
Work is generally performed in a professional office environment with routine use of a computer, telephone, and other standard office equipment. The position may require extended periods of computer work and additional time during periods of high loan volume or to meet processing, regulatory, and closing deadlines.
Disclaimer
This job description is not intended to contain a comprehensive listing of all duties, responsibilities, or qualifications required of the employee. The employee may be required to perform other job-related duties as assigned. Mountain Valley Bank reserves the right to modify this job description at any time, with or without notice. This job description is not an employment contract and does not alter the at-will employment relationship.
