Senior Mortgage Loan Processor

About the Role

Arundel Bank, a community retail bank serving Anne Arundel County since 1906, is seeking a Senior Mortgage Loan Processor for its Residential Lending Department. This role is crucial in processing a diverse range of mortgage loans, including conventional, FHA, and VA, as well as various trust and construction-to-permanent financing options. The Senior Mortgage Loan Processor will meticulously review and verify loan applications for compliance and qualifying factors such as income, credit, and assets. This position involves close collaboration with internal teams and external partners like title companies and attorneys to ensure efficient and accurate loan processing.

Responsibilities

• Process mortgage applications originated by the bank or approved brokers, verifying income, employment, assets, down payments, debts, and property values.
• Order and review title searches, property appraisals, appraisal reviews, and Automated Valuation Models (AVMs).
• Ensure loan files adhere to Arundel Federal, FNMA, FHLMC, FHA, VA underwriting policies, and Automated Underwriting System (AUS) feedback.
• Accurately calculate various income types, including self-employed, hourly, commission, and rental income.
• Collaborate with Loan Originators and Underwriters to address scenarios, policies, and resolve complex mortgage application issues.
• Maintain electronic loan documentation, ensuring compliance with all bank policies and procedures, and conduct file audits for completeness and adherence to regulations.
• Address and resolve customer inquiries (internal and external) by explaining policies and products professionally, maintaining positive customer relations.
• Provide general department support, including reviewing title work, Loan Estimates (LE), and other documents for accuracy and compliance.
• Reconcile Closing Disclosures (CD) with Loan Estimates (LE) before closing to identify and correct any tolerance violations.
• Apply requirements related to Bank Secrecy Act (BSA), Office of Foreign Assets Control (OFAC), and Customer Identification Program (CIP), including Beneficial Ownership (BO).
• Adhere to all assigned regulatory requirements during job duties.
• Complete all mandatory annual BSA and other bank compliance training promptly.
• Perform additional loan processing and administrative duties as assigned by management.

Requirements

• High school diploma or equivalent (GED).
• A minimum of five years of experience in mortgage banking, with at least three years specifically in processing conventional, FHA, and VA loans.
• Experience with loan closings is considered a plus.
• Strong understanding of secondary market guidelines, including FNMA, FHLMC, FHA, VA, investor overlays, and conventional mortgage insurance.
• Knowledge of real estate lending criteria, compliance, and federal/state regulations.
• Proficiency with mortgage Loan Origination Systems (Encompass preferred) and Automated Underwriting Systems like DU and LPA.
• Comprehensive understanding of the entire mortgage loan lifecycle, from origination to post-closing.
• Exceptional organizational, analytical, and problem-solving capabilities.
• Excellent verbal, written, telephone, and interpersonal communication skills.
• A strong service-oriented approach.
• Proficiency in Microsoft Office Suite (Word, Excel, Outlook) and general internet use.

Perks

• Comprehensive benefits package including paid time off, medical, dental, vision, life, and disability insurance.
• Health Reimbursement Arrangement (HRA) and Flexible Spending Account (FSA) options.
• Paid holidays.
• 401(k) profit sharing plan.
• Flexible work-from-home options available.

Eligibility

This position is open to candidates with a strong service orientation, attention to detail, and excellent communication skills. A minimum of five years of experience in residential lending, with at least three years focused on processing conventional, FHA, and VA loans, is required. Experience in loan closing is advantageous.

Additional Information

FLSA Status: Non-Exempt
Department: Residential Lending
Reports to: AVP, Manager Residential Lending

Arundel Bank is an Equal Opportunity/Affirmative Action Employer committed to a diverse and inclusive workplace. We do not discriminate based on race, color, religion, national origin, sex, gender identity/expression, age, ancestry, sexual orientation, disability, genetics, veteran status, marital status, pregnancy-related conditions, or political beliefs. We maintain a drug-free workplace.