Mortgage Loan Processor
Job Description
Job Title: Mortgage Loan Processor
Department: 77 - Corporate
Reports To: Chief Retail Officer
FLSA Status: Non-Exempt
Prepared By: Admin Services
Prepared Date: 06/12/2025
Summary
The Mortgage Loan Processor works closely with Mortgage Loan Originators (MLOs) and loan applicants to process residential mortgage loan applications according to bank policy and secondary market investor guidelines. The MLS is also responsible for preparing closing documents, disbursing loan proceeds, and performing a variety of post-closing duties.
Essential Duties and Responsibilities
Review loan applications for accuracy and completeness. Monitor incoming online applications. Upload interest rates in MortgageBot daily. Balance FHLB fee income accounts daily. Document all financial information, including pulling credit reports and verifying income. Prepare loan documentation through MortgageBot. Work with third-party vendors to order appraisals, title work, flood certifications, and homeowners insurance. Assist underwriters with required additional information, resolving discrepancies, and updates on the loan process. Obtain VOE, VOD, employment, rent, etc., as needed. Review documentation for accuracy and compliance. Schedule closings with the lender, borrower(s), and title companies. Prepare and balance closing disclosures with the title companies. Fund loans. Finalize funding with FHLB to ensure all requirements are met for final approval. Scan loan documents into Director for loan boarding and filing. Prepare cashier s checks for third-party vendors. Monitor custody reports and delivery commitment expirations in MPF. Monitor paid notes and prepare mortgage releases when loans are paid in full. Work closely with lenders to minimize loan exceptions. Prepare various monthly reports for the Board. Prepare monthly pipeline reports. Prepare adverse action notices. Maintain and update appraiser listings, including licenses and E&O insurance. Make recommendations for procedural changes to increase efficiency. Perform other duties as assigned by the supervisor.Qualifications: Associate's degree or at least five years of related experience and/or training; or an equivalent combination of education and experience. Experience with Fiserv Premier, MortgageBot, DocMagic, Calyx, DU/LP, LaserPro, or similar mortgage loan software is preferred.
Supervisory Responsibilities: None
Prospect Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability, or protected veteran status.
Member FDIC
Mortgage Loan Processor
Job Description
Job Title: Mortgage Loan Processor
Department: 77 - Corporate
Reports To: Chief Retail Officer
FLSA Status: Non-Exempt
Prepared By: Admin Services
Prepared Date: 06/12/2025
Summary
The Mortgage Loan Processor works closely with Mortgage Loan Originators (MLOs) and loan applicants to process residential mortgage loan applications according to bank policy and secondary market investor guidelines. The Mortgage Loan Processor is also responsible for preparing closing documents, disbursing loan proceeds, and performing a variety of post-closing duties.
Essential Duties and Responsibilities
Review loan applications for accuracy and completeness. Monitor incoming online applications. Upload interest rates in MortgageBot daily. Balance FHLB fee income accounts daily. Document all financial information, including pulling credit reports and verifying income. Prepare loan documentation through MortgageBot. Work with third-party vendors to order appraisals, title work, flood certifications, and homeowners insurance. Assist underwriters with required additional information, resolving discrepancies, and updates on the loan process. Obtain VOE, VOD, employment, rent, etc., as needed. Review documentation for accuracy and compliance. Schedule closings with the lender, borrower(s), and title companies. Prepare and balance closing disclosures with the title companies. Fund loans. Finalize funding with FHLB to ensure all requirements are met for final approval. Scan loan documents into Director for loan boarding and filing. Prepare cashier s checks for third-party vendors. Monitor custody reports and delivery commitment expirations in MPF. Monitor paid notes and prepare mortgage releases when loans are paid in full. Work closely with lenders to minimize loan exceptions. Prepare various monthly reports for the Board. Prepare monthly pipeline reports. Prepare adverse action notices. Maintain and update appraiser listings, including licenses and E&O insurance. Make recommendations for procedural changes to increase efficiency. Perform other duties as assigned by the supervisor.Qualifications: Associate's degree or at least five years of related experience and/or training; or an equivalent combination of education and experience. Experience with Fiserv Premier, MortgageBot, DocMagic, Calyx, DU/LP, LaserPro, or similar mortgage loan software is preferred.
Supervisory Responsibilities: None
Prospect Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability, or protected veteran status.
Member FDIC
Salary/Compensation: $45,000 - $52,000 per year
Mortgage Loan Processor
Job Description
Job Title: Mortgage Loan Processor
Department: 77 - Corporate
Reports To: Chief Retail Officer
FLSA Status: Non-Exempt
Prepared By: Admin Services
Prepared Date: 06/12/2025
Summary
The Mortgage Loan Processor works closely with Mortgage Loan Originators (MLOs) and loan applicants to process residential mortgage loan applications according to bank policy and secondary market investor guidelines. The MLS is also responsible for preparing closing documents, disbursing loan proceeds, and performing a variety of post-closing duties.
Essential Duties and Responsibilities
Review loan applications for accuracy and completeness. Monitor incoming online applications. Upload interest rates in MortgageBot daily. Balance FHLB fee income accounts daily. Document all financial information, including pulling credit reports and verifying income. Prepare loan documentation through MortgageBot. Work with third-party vendors to order appraisals, title work, flood certifications, and homeowners insurance. Assist underwriters with required additional information, resolving discrepancies, and updates on the loan process. Obtain VOE, VOD, employment, rent, etc., as needed. Review documentation for accuracy and compliance. Schedule closings with the lender, borrower(s), and title companies. Prepare and balance closing disclosures with the title companies. Fund loans. Finalize funding with FHLB to ensure all requirements are met for final approval. Scan loan documents into Director for loan boarding and filing. Prepare cashier s checks for third-party vendors. Monitor custody reports and delivery commitment expirations in MPF. Monitor paid notes and prepare mortgage releases when loans are paid in full. Work closely with lenders to minimize loan exceptions. Prepare various monthly reports for the Board. Prepare monthly pipeline reports. Prepare adverse action notices. Maintain and update appraiser listings, including licenses and E&O insurance. Make recommendations for procedural changes to increase efficiency. Perform other duties as assigned by the supervisor.Qualifications: Associate's degree or at least five years of related experience and/or training; or an equivalent combination of education and experience. Experience with Fiserv Premier, MortgageBot, DocMagic, Calyx, DU/LP, LaserPro, or similar mortgage loan software is preferred.
Supervisory Responsibilities: None
Prospect Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability, or protected veteran status.
Member FDIC
Mortgage Loan Processor
Job Description
Job Title: Mortgage Loan Processor
Department: 77 - Corporate
Reports To: Chief Retail Officer
FLSA Status: Non-Exempt
Prepared By: Admin Services
Prepared Date: 06/12/2025
Summary
The Mortgage Loan Processor works closely with Mortgage Loan Originators (MLOs) and loan applicants to process residential mortgage loan applications according to bank policy and secondary market investor guidelines. The Mortgage Loan Processor is also responsible for preparing closing documents, disbursing loan proceeds, and performing a variety of post-closing duties.
Essential Duties and Responsibilities
Review loan applications for accuracy and completeness. Monitor incoming online applications. Upload interest rates in MortgageBot daily. Balance FHLB fee income accounts daily. Document all financial information, including pulling credit reports and verifying income. Prepare loan documentation through MortgageBot. Work with third-party vendors to order appraisals, title work, flood certifications, and homeowners insurance. Assist underwriters with required additional information, resolving discrepancies, and updates on the loan process. Obtain VOE, VOD, employment, rent, etc., as needed. Review documentation for accuracy and compliance. Schedule closings with the lender, borrower(s), and title companies. Prepare and balance closing disclosures with the title companies. Fund loans. Finalize funding with FHLB to ensure all requirements are met for final approval. Scan loan documents into Director for loan boarding and filing. Prepare cashier s checks for third-party vendors. Monitor custody reports and delivery commitment expirations in MPF. Monitor paid notes and prepare mortgage releases when loans are paid in full. Work closely with lenders to minimize loan exceptions. Prepare various monthly reports for the Board. Prepare monthly pipeline reports. Prepare adverse action notices. Maintain and update appraiser listings, including licenses and E&O insurance. Make recommendations for procedural changes to increase efficiency. Perform other duties as assigned by the supervisor.Qualifications: Associate's degree or at least five years of related experience and/or training; or an equivalent combination of education and experience. Experience with Fiserv Premier, MortgageBot, DocMagic, Calyx, DU/LP, LaserPro, or similar mortgage loan software is preferred.
Supervisory Responsibilities: None
Prospect Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability, or protected veteran status.
Member FDIC
Salary/Compensation: $45,000 - $52,000 per year
