Mortgage Loan Assistant

Department: Loan Operations
Supervisor: Vice President – Loan Operations Manager
Type of Position: Full-time, hourly, nonexempt, on-site, M-F 8am to 5pm
Location: Fitchburg, WI
Date Generated: July 11, 2024

Position Summary

Underwrites, Processes and perfects collateral for new and renewed residential loans. Aids in establishing and implementing processes and procedures for the residential loan process. Aids in the daily operation of residential processing including knowledge of software, systems, regulations, and policy. Maintains professional relationships with internal and external clients as well as third party vendors.

Essential Duties and Responsibilities included but are not limited to the following:

Underwrites, processes residential mortgage (including in-house and secondary market), and construction loans by completing applicable paperwork, inputting loans, and verifying documents.
Types above loan documents according to established policies and procedures.
Maintains processing knowledge of residential mortgage loan programs including but not limited to Fannie Mae (FNMA), Federal Home Loan Bank (FHLB) MPF and Quicken (Jumbo Loans)
Requests supporting documentation such as title work, insurance and any other required items as deemed necessary per established processes
Orders and processes appraisals per procedures for residential mortgage loans
Conducts necessary searches including but not limited to credit bureau reports, flood determination, verification of employment and deposit accounts
Reviews and analyzes title work, deeds, loan estimates, closing disclosures, and other supporting documentation to ensure accuracy and lien position.
Perfects the Bank’s interest by recording documents at the appropriate state or county office to ensure the Bank is in the proper collateral lien position
Disburses loan proceeds and pays invoices associated with the transaction as appropriate
Post-closing processes, such as review for compliance, HMDA, tracking down files and scanning/indexing loan file documents
Maintains residential mortgage loan pipeline information required
Responsible for assisting with selling secondary market loans
Complete Home Mortgage Disclosure Act (HMDA) worksheets
Prepare and/or review residential mortgage loan denials
Onboards the loan in the Bank’s core system (FISERV Premier) per the loan documents executed, including booking residential mortgage participations sold
Processes loan documentation for participations sold (FNMA, MPF)
Responsible for maintaining accurate loan files in either paper format or electronically
Observes all security, privacy and compliance requirements related to the position and works with compliance to solve issues or problems

Leadership Duties and Responsibilities include but are not limited to the following:

Maintain appropriate professional development and training as planned with the Vice President – Loan Operations Manager

Required Knowledge and Skills include but are not limited to the following:

Associates Degree in Business Administration or other equivalent residential mortgage processing and documentation work experience
Excellent verbal and written communication skills
Knowledge of FISERV Premier, Finastra Mortgagebot LOS, and other mortgage loan processing systems such as Desktop Underwriter (DU) is preferred
Experience with Microsoft Word, Excel and Adobe Acrobat Standard required
Good problem-solving skills using experience, knowledge and policies and procedures provided
Ability to meet deadlines and prioritize work while working independently
Must view oneself as part of an overall team; this includes supporting others within the department and throughout the Bank to achieve overall goals of the organization
Regard for important details to assure accuracy, detect errors and follow through on corrections and details
Able to adapt to different work situations; remain composed under pressure and in stressful situations
Knowledge of pertinent State and Federal laws and regulations

Working Conditions:

Work is performed largely in an office environment. Hours of work are generally during regular business hours (Monday – Friday, 8:00 am – 5:00 pm). There may be some variation in work hours due to special projects, deadlines, or other concerns.

Contact Human Resources at 608.441.6000 for information on current openings or email us at hr@oak.bank.

Disclaimer: This job description may not be inclusive of all assigned duties, responsibilities, or aspects of the job described, and may be amended at any time according to business needs. We are an equal opportunity workplace. We consider all qualified applicants equally without regard to race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender identity or Veteran status.