Residential Mtg. Disb. Processor - Loan Operations

JOB DESCRIPTION:            RESIDENTIAL MORTGAGE DISBURSEMENT

                                                PROCESSOR

DIVISION:                             LOAN OPERATIONS

WAGE CLASSIFICATION:  7 / NON-EXEMPT

REPORTS TO:                       MORTGAGE LOAN SERVICING SUPERVISOR

SUPERVISES:                        HAS NO SUPERVISORY RESPONSIBILITIES

JOB SUMMARY

Disburses funds on residential real estate loans by either a deposit to the attorneys account or credit to the general ledger mortgage loans in process along with the new loan debit to the loan.  Prepares processing write up sheet for loans to be set up in Jack Henry loan system.  Prepares borrowers fee sheet and makes general ledger tickets to appropriate accounts and branch for disbursement.  Handles all residential mortgage insurance policies.

ESSENTIAL PERFORMANCE SKILLS, DUTIES AND RESPONSIBILITIES:

• Prepares mortgage loan set up sheet which gives information on how to input loan

      to the Jack Henry system.

• Prepares Real Estate fee disbursement sheet and general ledger tickets for processing.
• Prepares all new loan disbursements by 2:00 daily for processing.
• Pull paid out real estate loan files from mortgage loan vault daily.
• Processing of paid off files which includes drafting mortgage releases for recording, requesting documents from FNMA and canceling MERS.
• Processing FNMA Wires.
• Balances FNMA accounts on a rotational schedule.
• Tracks exception list for officers on missing title policy and mortgage.  Distributed on a semi-monthly schedule.
• Images recorded Mortgage to in-house and FNMA loans.
• Works closely with Loan Review Documentation Processor to insure all cleared exceptions pertaining to final title policy and recorded mortgage are removed from exception list.
• Works with Mortgage Loan Servicing Supervisor to make sure she receives all documentation applying to any new and paid out Fannie Mae loan.
• Once file is completed, scan and index all loan documents in file that were not processed under Encompass. Place file in Loan Ops vault.
• Separate all mail insurance policies.......Send Commercial Real Estate to Main Office Loan Processors and Commercial/Consumer policies to Loan Imaging Processor.
• Residential Mortgage Insurance.
  • Track new loan policies
  • Scan and Index policies         
  • Send Expired Insurance Letters
  • Send Cancellation Letters
  • Call Insurance Companies on Cancellation policies for update
  • Notify mortgage processor if current policy is not in new loan file
  • Change Collateral Expiration Dates on Jack Henry System
  • Handle Remarc Insurance (adding to customer's loan, billing accounts)
  • Flood Insurance

• Train on paying annual property taxes.
• Transmit remittance fees listed on HUD sheet for VA & FHA loans.
• Responsible for printing supply of general ledger tickets (by branches)

            used in real estate loan processing.

• Recommend changes to update procedures.

• Other duties as may be required from time to time.
• Backup:  Mortgage Loan Servicing Supervisor

ESSENTIAL TECHNICAL SKILLS, QUALIFICATIONS

KNOWLEDGE AND ABILITIES REQUIRED:

• Ability to communicate with others in a warm and helpful manner.
• Listen well and clearly present information through the spoken word.
• Ability to relate to routine operations in a manner that is consistent with established policies and procedures.
• Ability to be attentive to all aspects of the environment while working; to monitor environment during routine activity.
• Requires the ability to use a systematic approach in solving problems through analysis of problem and evaluation of alternate solutions; use logic, mathematics or other problem solving tools in data analysis or in generating solutions.
• Ability to write clearly and effectively, present ideas and to document activities; to read and interpret written information.
• Regular and predictable attendance.  The ability to come to work.
• Ability to work in a cooperative manner with department/division heads, supervisor, coworkers and others in the office.
• Ability to work in a constant state of alertness and in a safe manner.
• Ability to follow policies, procedures and rules of AuburnBank.

SKILLS REQUIRED:

• Basic accounting skills helpful
• Proficient in Microsoft office program skills (MS Word, MS Excel etc)
• Proficient keyboarding skills.
• Working knowledge of general office equipment.
• Good organizational skills

• Requires extended periods of sitting.
• Requires eye-hand coordination and manual dexterity.
• Requires the ability to access, input and retrieve information from the computer.
• Requires the use of office equipment, such as, computer terminals, telephones, copiers and printers.
• Requires transporting files ranging up to 25 lbs.
• Requires answering telephones for lengthy time periods.
• Requires typing skills.
• Requires the ability to work closely with people.
• Requires working long periods of time between breaks and meals.
• Requires being able to work under stressful conditions.
• Requires corrected vision and hearing to normal range.
• Requires the ability to respond to customer request.
• Requires the ability to distinguish letters and symbols.
• Ability and willingness to maintain strict confidentiality.
• Must work days and hours necessary to perform all assigned responsibilities and tasks.
• Must be available (especially during regular business hours) to communicate with supervisor, coworkers, customers, vendors and other persons in organization with whom interaction is required to accomplish work and project goals.

ORGANIZATION

Has an inherit duty and responsibility to make recommendations to supervisor concerning possible methods to improve departments.

FINANCES

Has the responsibility to make recommendations to supervisor concerning the budgetary needs of the department.

RELATIONSHIPS

1.  Responsible to the Supervisor of Mortgage Servicing and the Vice President of Loan Operations for the fulfillment of functions, responsibilities and authority and for their proper interpretations.

2.  Will have extensive contact with customers and the public and is to conduct relationships in a manner that will enhance the overall marketing effort of the Bank.

3.  Will be called upon from time to time to participate with community organizations and in community projects.

        Updated:  1/11/21

• Requires a high school diploma or GED equivalent.
• 1 year of banking or related mortgage experience required