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Processor Specialist
Bank of the West
Omaha, NE, United States
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Description
At Bank of the West, our people are having a positive impact on the world. We’re investing where we feel we can make the most impact, like advancing diversity and women entrepreneurship programs, financing for more small businesses, and promoting programs for sustainable energy. From our locations across the U.S., Bank of the West is taking action to help protect the planet, improve people’s lives, and strengthen communities. We are part of BNP Paribas, a global leader supporting the UN Sustainable Development Goals (SDGs). Yes, we’re a bank, but as the bank for a changing world, we are continually seeking to improve the ways we help our customers, while contributing to more sustainable and equitable growth.
Job Description Summary
Responsible for performing a variety of processing functions for highly complex first and second mortgage loan files while ensuring a timely, accurate and cost effective support of the Bank's lending operations. Processing functions include: desktop underwriting, receipt of loan documentation, and ordering of third party items through preparation of packages for loan closings. Ensures compliance in all areas of desktop underwriting, and secondary market guidelines. Meets timeline and objectives daily while handling customer inquiries and detecting deficiencies in the loan early in the process. Serves as a Team Lead to less experienced processors.
Essential Job Functions
• Receives loan application from LO and reviews documents to ensure all necessary forms have been completed and comply with underwriting and secondary market guidelines.
• Determines and evaluates documentation needed to comply with underwriting, and secondary markets. Suggests alternative methods to obtain satisfactory documentation when necessary.
• Sets up loan files and enters information for tracking of loan. Submits loans through DU/LP automated underwriting system upon validation..
• Verifies credit report, income and assets, and orders all verifications necessary to complete the loan file. Solves problems and offers solutions to processors when verifications alter the quality of the loan. Prepares loans for processing sign off within specified number of days.
• Reviews and evaluates all documents, including tax returns using judgment to ensure loan falls within guidelines per loan type.
• Works with the team leader on file flow, and proactively assures timely completion of the file. Offers alternatives and solutions to meet time frames and guidelines. Communicates with customers, LO;s and authorized employees to satisfy loan conditions as well as the status of the loan application. Ensures that all loans are in compliance with internal Bank guidelines and external state and federal regulations (i.e. USPAP, FIRREA, HMDA, RESPA, FNMA, FHLMC, and Fair Lending).
• Assists with training new hire staff members. Serves as a Team Lead to less experienced processors.
Other Job Duties
• Performs other duties as assigned.
Qualifications
Required Experience
• Requires advanced knowledge within a specific discipline typically gained through extensive work experience and/or education.
• Requires 7 years minimum work related experience.
• May require vocational or technical education in addition to prior work experience.
Education
• High School Diploma or GED Required
Skills
• Thorough verbal and written communication skills.
• Typing of 40-45 WPM.
• Knowledge of 10-key, calculator.
• Photocopier and fax machine.
• Maintains filing system.
• Math and analysis.
• PC Proficiencies with Windows based software in Word, Outlook and Excel.
Equal Employment Opportunity Policy
Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran.
Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.