The Commercial Loan Processor calculates and processes payoffs, and releases titles and insurance interest. Processes loan payments and applies funds to customer accounts. Being a Commercial Loan Processor responds to customer inquiries and requests for net payoff quotes. Calculates and prepares refunds for customers that submit overpayments. In addition, Commercial Loan Processor may require an associate's degree or its equivalent. Typically reports to a supervisor or manager. Being a Commercial Loan Processor gains or has attained full proficiency in a specific area of discipline. Works under moderate supervision. Working as a Commercial Loan Processor typically requires 1-3 years of related experience. (Copyright 2024 Salary.com)
Summary of Job Responsibilities:
The Mortgage Processor plays a crucial role in facilitating the smooth and efficient processing of mortgages and home equity applications. Responsible for reviewing and verifying loan documents to assure compliance with underwriting and regulatory requirements and collaborating with various stakeholders to expedite the mortgage approval process. Accountable for the accuracy and completeness of all loan documentation prior to releasing the loan file to preclosing, and for compliance with all Bank Secrecy Act, Anti Money Laundering regulations, mortgage regulations, bank policies and procedures.
Essential Job Duties:
Skills and Abilities Required:
Minimum Requirements:
Working conditions:
Good. Experiences little discomfort for heat, noise, dust, or other factors.