Join the family of First Federal Bank of Kansas City and be part of changing the banking industry where customers are cared for and treated like part of the family. We believe in taking care of our employees so they in turn are compelled to deliver the utmost customer service.

SUMMARY

Jr. Mortgage Loan Processor is in training to learn how to process mortgage loans including how to verify information, comply with guidelines and update Encompass for mortgage loans by performing the following duties.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

Responsible for promotion and delivery of quality internal and external customer service.

Makes introductory calls to Borrowers.

Reviews residential loan application files to verify that application data is complete and meets establishment standards, including type and amount of mortgage, borrower assets, liabilities, and length of employment.

Reviews files for all initial disclosures signed by borrower(s).

Reviews files for all required disclosures signed by loan representatives.

Sends necessary documentation to employers', depositories and landlords.

Updates credit reports through automation, if required.

Calls specified companies to obtain property title reports, surveys, and appraisals.

Updates verifications as they are received on the Encompass system.

Processes and submits, with full documentation, the mortgage loan application file for underwriting approval prior to expiration date. A credit package is also sent to the insurance companies for approval. Prepares 1003, 1008, and PMI application and packaging credit documentation. Computes PMI premiums and apply for coverage as required to secure MI Cert.

Performs a preliminary review of all new loan files received.  Reviews qualifying factors, knows documentation needed for approval under FNMA/FHLMC, FHA and VA  guidelines, evaluates self-employed borrowers to determine income for qualifying purposes.  Requests these items from the loan officers or borrowers.  Verifies application date is correct and completes HMDA information.

Obtains knowledge of underwriting practices.

Obtains knowledge of all loan products offered by FFB.

Gains exposure to the loan closing process, post-closing process and gains exposure to the upfront loan set-up and third party out procedures. 

Composes letters for resubmission files on any items that need further explanation to the correspondent lender's underwriting department.

Submits approved mortgage loan files to loan closers for settlement.  Obtains title work, surveys, final inspection if applicable, homeowners' insurance, and payoffs on refinances.  Ensures all required loan conditions met, prior to closing.

Answers inquiries on loans in process from Loan Officer, buyers, sellers, Realtors, and title companies.

Works directly with borrowers by telephone, letters or email to obtain credit information needed to process loan.

Cancels files that are denied or withdrawn. Updates Encompass with date canceled and completes all HMDA information.

Prepares and mails approval letters to applicants.

Records data on status of loans, including number of new applications and loans approved, canceled, or denied.

Complies with all applicable banking laws and regulations, including, but not limited to, the Bank Secrecy Act, USA Patriot Act, and related anti-money laundering statutes; and, federal consumer protection legislation and regulations.

QUALIFICATIONS 

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and/or EXPERIENCE

High school diploma or general education degree (GED); and three to five years related experience in a financial institution, consisting of setting up and tracking loans preferred.  Knowledge of current FNMA/FHLMC, FHA and VA underwriting guidelines is also preferred.

LANGUAGE SKILLS

Ability to read and interpret documents such as operating and procedure manuals. Ability to write letters and business correspondence. Ability to speak effectively to customers or employees of organization.

MATHEMATICAL SKILLS

Ability to calculate figures and amounts such as interest, payments, discounts, commissions, and percentages. Ability to accurately complete and reconcile General Ledger Accounts for loan income.

REASONING ABILITY

Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.

OTHER SKILLS AND ABILITIES

Computer/Microsoft Word/Excel experience.  Knowledge of

PHYSICAL DEMANDS 

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit and use hands to finger, handle, or feel objects, tools, or controls. The employee frequently is required to talk or hear. The employee is occasionally required to stand, walk, and reach with hands and arms.

Specific vision abilities required by this job include close vision and the ability to adjust focus.

WORK ENVIRONMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The noise level in the work environment is usually moderate.

First Federal Bank is committed to providing equal employment opportunities to all people without regard to race, color, religion, national origin, ancestry, marital status, veteran status, age, disability, pregnancy, genetic information, citizenship status, sex, sexual orientation, gender identity, or any other legally protected category.

A note to applicants:  First Federal Bank of Kansas City is closely monitoring the spread of the coronavirus to protect our employees and our organization as a whole.  We are hiring, but many of our internal and external job interviews are taking place through video and/or phone alternatives.  If contacted for an interview, we will be happy to share more with you about the steps we are taking to limit the spread of the virus.