Mortgage Loan Officer Assistant/Processor

Do you want to work for a company that is as loyal to you as you are to them??
Well, at Cornerstone Bank, we place a high value on loyalty to our employees. A lot of companies will say this, but Cornerstone demonstrates it on an on-going basis. Recent examples include:
•No lay-offs or furloughs during Covid,
•Also, during Covid, we implemented "Dinner on Us" where we encouraged employees to get dinner for their families once a week on the company,
•Increasing mental health benefits to unlimited to help employees and families cope with the stress of the epidemic, and
•A student loan paydown program empowering employees to be debt free faster!
Cornerstone Bank was formed in 2017, born of a long history of supporting the community, and providing a strong foundation to help people and businesses thrive. Serving Worcester County, Cornerstone Bank's local presence and community-based banking model enables a unique ability to deliver outstanding service, with a personal touch. Cornerstone provides the highest level of service and expertise for individuals, businesses, and community organizations with branch locations throughout Central Massachusetts.
Cornerstone Bank is committed to providing a collaborative workplace where innovation, teamwork, accountability, and excellence are recognized and where employees are encouraged to broaden their skills, seek opportunities for professional development, serve their community, and provide outstanding customer service with each encounter.
Being a part of the Cornerstone team has many great benefits and perks. This includes a competitive pay, a generous student-loan paydown program, comprehensive benefit package including, medical, dental, vision insurance and even pet insurance! We offer a 401(k) plan with an employer contribution and match, success-sharing bonuses, paid time off and more!
If you are looking to join a team that is committed to your ongoing professional growth and development, we are looking forward to speaking to you!
Cornerstone Bank is committed to our customers, colleagues & communities that we serve. As the Loan Officer Assistant, you will perform a variety of loan processing and related administrative activities in conformance with established Bank policies, procedures and objectives.
Responsibilities and Accountabilities

• Assist Mortgage Loan Originators in the writing, structuring, and pricing of residential loan applications in accordance with established policies, procedures, and timelines.
• Clear understanding of lending regulations, including but not limited to the preparation of Initial Disclosure documents, as they relate to TILA-RESPA (Loan Estimate and Closing Disclosure completion), Regulation B and Home Mortgage Disclosure Act (HMDA).
• Conducts initial loan review, requests 3rd party reports and verifications, contacts appropriate party about missing documentation, and manages pipeline to ensure tasks are completed accurately and timely throughout the process.
• Obtain and analyze information to process mortgage applications which includes, but is not limited to, credit reports, verification of employment, calculation of income, asset verification and any other pertinent information.
• Knowledge of Cornerstone Bank mortgage products. Ability to analyze customer needs, identify options for appropriate loan programs to discuss with the Mortgage Loan Originator and V.P. Loan Production Manager.
• Knowledge of Secondary Market (FreddieMac/Fannie Mae) underwriting requirements. Loan Officer Assistants are responsible for keeping up with changes in Cornerstone Bank's underwriting policies and procedures. Attends relevant meetings and seminars as requested by supervisor.
• Loan Officer Assistant must accurately determine customer's request to escrow monthly taxes and insurance. Review payment method with customer prior to loan closing.
• Accuracy of data in processors loan pipeline. Loan Officer Assistants are to consistently update and maintain loan status in our loan origination system. Document work performed on loan files in our loan origination system.
• Responsible in meeting department service level goals.
• Prepares and provides a variety of ongoing and recurring reports.
• Performs miscellaneous administrative and clerical support duties as required.
• Performs all duties in accordance with prescribed regulatory compliance guidelines.

Requirements
Qualifications

• Ability to adapt to any mortgage department changes
• Must be detail oriented and able to meet strict deadlines
• Must possess excellent communication, organizational, customer service, interpersonal, and computer skills
• Able to use various types of office equipment, including personal computer and peripheral devices
• Good understanding of Bank's products and services
• Ability to navigate Bank's lending systems
• Working knowledge of Microsoft Word & Excel

Education/Training/Experience

• High School diploma or equivalent
• One to two years loan processing or related experience

INDEPENDENT ACTION
Performs work independently within scope of established guidelines and practices. Consults with Manager where clarification or exception to Bank policy may be required.
NOTE: These statements are intended to describe the general nature and level of work involved for this job. It is not an exhaustive list of all responsibilities, duties and skills required for this job.
Cornerstone Bank is an Equal Opportunity Employer. In compliance with Equal Opportunity Guidelines and the Americans with Disabilities Act, Cornerstone Bank provides reasonable accommodations to qualified individuals with disabilities and encourages both prospective and current employees to discuss potential accommodations with the employer.