Loan Processor II
Loan Processor II
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$ 42000 - 55000
1 Vacancy
Job Description
Wintrust Mortgage was founded in 1981 to help customers achieve the American dream of homeownership and has since successfully navigated the ever-changing real estate market. As a full-service federally chartered lender with offices located across the country were dedicated to providing customers with a wide range of mortgage products and have the capability to lend in all 50 states. To complement the basic conventional FHA and VA loan programs we are uniquely positioned to meet the needs of the continually evolving market. Wintrust Mortgage is part of Wintrust a financial services company with more than $66 billion in assets.
Why join us
An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 8 years) and Employee Recommended award by the Globe & Mail (past 6 years)
Competitive pay and discretionary or incentive bonus eligible
Comprehensive benefit package including medical dental vision life a 401k plan with a generous company match and tuition reimbursement to name a few
Family-friendly work hours
With 175 community bank locations we offer opportunities to grow and develop in your career
Promote from within culture
Why join this team
The Loan Processor II works directly with Loan Officers Team Leads Underwriters Closers and Management to ensure files are opened within specific receipt requirements from loan officer where Opener position does not exist. Analyze credit income assets contract appraisal and Wintrust disclosures. Research guidelines and matrices for all programs to ensure loan is processed to guidelines. This is a non-exempt position; periodic work will be performed outside regular business hours as volume dictates and to maintain required turn times.
Ensure completeness of application (1003).
Issue needs letter and/or loan status letter to client and loan officer.
Follow up and ensure receipt of requested documentation on timeline to ensure submission of file to Underwriting no less than 10-days prior to estimated closing date lock expiration or contingency date (earliest of all dates).
Pull Fraud GUARD Reports and obtain information to clear low and/or moderate impact findings as needed obtain documentation to support clearance of items. Document any high impact alerts to UW to clear.
Ensure 100% compliance with internal fraud prevention procedures and other Wintrust procedures.
Request contact information for Hazard Insurance from borrower.
Request Chain of Title from the title company and/or the seller attorney during the process of the loan. Request and analyze Tax Return Verification (TRV) if tax returns are used to qualify. Ensure match of income found in file.
Issue commitment letters.
Create follow-up procedures for items requested on needs letters appraisals titles and approvals.
Ensure contingency dates are met on purchases.
Clear any Underwriting conditions made for Processor to clear.
Complete Clear to Close Audit for every file prior to submission to UW for CTC.
Provide all conditions of loan approval to Underwriting for review and CTC no less than 5-days prior to the closing date.
Ensure all loans are clear to close and moved to closing department at least 3-days prior to the confirmed closing date.
Ensure borrower understands conditions for closing.
Order subordination agreements upon receipt of appraisal and title.
Analyze refinance title commitments to confirm that borrower is in title; property taxes are current.
Schedule closing date and time with borrowers LOs and title companies.
Completes doc funding form and turn file with doc funding request into Closing Department.
Meet or discuss with Loan Officer(s) weekly to review pipeline
Qualifications:
3-5 years experience processing conventional FHA VA USDA Bond Jumbo and brokered loans.
High School Degree or equivalent
Multiple investor experience.
Credit review experience to include income and assets.
Ability to calculate various income: wage earner SSN Disability Schedule C Self Employed Trust Income Capital Gains income Rental income.
Ability to manage target caseload of 25-35 loans.
Demonstrated problem solving skills.
Good communication skills.
Ability to multi-task.
Advanced Computer Skills
Benefits:
Medical Insurance Dental Vision Life insurance Accidental death and dismemberment Short-term and long-term Disability Insurance Parental Leave Employee Assistance Program (EAP) Traditional and Roth 401(k) with company match Flexible Spending Account (FSA) Employee Stock Purchase Plan at 5% discount Critical Illness Insurance Accident Insurance Transportation and Commuting Benefits Banking Benefits Pet Insurance
Compensation:
The estimated annual salary range for this role is $42000-$55000 along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors such as a candidates qualifications skills and experience.
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From our first day in business Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To build a company that reflects the communities we serve we believe that fostering a unique and inclusive workplace where everyone feels valued and empowered to succeed will support our ongoing success. Wintrust Financial Corporation including community banking and financial services subsidiaries is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race color religion sex age national origin disability veteran status genetic information and other legally protected categories.
Employment Type
Full-Time
