Flagship Bank is passionate about helping our clients succeed and making a difference in our communities. And that starts with our employees.

Mortgage Loan Processor

Job Location: To Be Determined

Position Type: Full Time

Job Description: Flagship Bank Minnesota is a growing locally owned bank with 6 convenient locations. We are active members of our community and have helped countless individuals and families reach their personal and financial goals.

Due to continued growth we are currently looking to add a Mortgage Loan Processor. In this position you will evaluate all information supplied on residential loan applications. Verify, through outside sources, the validity of the information, calculate debt-to-income and loan to value ratios, and assemble a complete documented file for submission to underwriting.

A Loan Processor is not authorized to take a mortgage loan application, quote available rates or offer or negotiate terms of a mortgage loan but assists the lender and the client during the process.

Responsibilities:
  • Maintain a strong working knowledge of all applicable consumer compliance requirements related to the handling and origination of home mortgages.
  • Maintain a working knowledge of all FNMA and FHLMC loan requirements.
  • Open files; order credit report, flood search, title and appraisals. Enter file data into the system, send out verification forms (if required) and conduct regular follow-up with outside sources for outstanding documents.
  • Maintain an accurate record of all loans in process. Work with the lending team to meet department goals and maintain current service level agreements.
  • Maintain an open line of communication with the lender and applicant throughout the processing period.
  • Verify the data collected, and log it into the file and computer system.
  • Track the collected information to ensure compliance with underwriting guidelines/regulations.
  • Complete a final evaluation and analysis of the application package and prepare the file for approval, specifying any applicable conditions to approval.
  • Assemble and prepare the file for closing.
  • Keep update to date on current compliance, underwriting, and closing guidelines.
  • Assist in any Post Closing Conditions
Other duties or tasks may be assigned as required. Management may modify, change or add to the duties of this description at any time without notice. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
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.

Education: Associate's Degree or equivalent combination of education and experience (Required).

Experience: Three to five years of mortgage processing experience.

Language Skills: Good verbal and written communication skills are required. Conduct oneself with level of professionalism.

Reasoning Ability: Must be able to prioritize workload and complete tasks in a timely manner. Aptitude for figures and detailed oriented.

Other Skills/Abilities/Specifications:
  • Knowledge of FHLMC and/or FNMA guidelines (Required).
  • Experience with Vanceo Mortgage software (Preferred but not required).
  • Knowledge of Microsoft Office, including Word and Excel (Required).
  • Ability to work effectively under deadlines and pressure (Required).