Loan Processor II

How would you like to join one of the most highly regarded financial institutions in New Jersey with deep roots in the community?  Provident is a successful and highly regarded multi-billion-dollar bank that continues to grow with branches in New Jersey, Eastern Pennsylvania and New York.  Our longevity is a testament to our commitment to placing our employees, customers, and the communities we serve at the center of all we do.  At Provident Bank, we are committed to enhancing our customer and employees’ experience. 

POSITION OVERVIEW:

Under direct supervision, this position performs all daily functions associated with processing a consumer/residential loan application.  Should be able to perform many of the duties listed below since it is at the intermediate level of loan coordinator.

KEY RESPONSIBILITIES:

• Performs automated processing functions and obtains credit information for new loan applications including the preparation of all necessary disclosures in compliance with regulatory guidelines and timeframes.
• Review loan applications for accuracy, completeness and conformity to loan programs
• Make corrections if necessary
• Verify rate/add points, fees, etc.
• Review credit report/complete red flag checklist
• Manage E-Consent, Loan Prospector (LPA),
• Disclose Loan Estimate and Intent to Proceed
• Order Appraisal/AVM
• Process Credit Card
• Send out requests for VOEs, Tax Transcripts
• Order Fraud reports
• Electronically manage all incoming loan documentation, telephone inquiries, problem solving
• Interact as needed with branch/bank staff questions and perform various tasks/projects as requested by management.
• Prepare/send out document check list (“needs” letter) to borrowers
• Calculate income and complete income worksheets
• Review assets needed for down payment and closing costs
• Review/analyze income and assets
• Request/review contract for sale of subject property (purchases only)
• Update information in LOS based on documentation provided by the borrowers
• Assign loan to underwriter for final review/decision
• Consumer Loans: read and analyze AVMs
• Assists in daily department routine including telephone inquiry and problem solving with customers, relationship managers and branches with questions or concerns. Performs various tasks, projects as requested.
• Performs automated processing functions and obtains credit information for loan pre-qualifications and applications including the preparation of all necessary disclosures in compliance with regulatory guidelines and timeframes
• Orders credit reports, Verifications of Employment (VOEs), tax transcripts and appraisals
• Processes credit application fee payments.
• Tracks and organizes all loan documentation in a timely manner. Inputs application data into system and establishes files.  Prepares correspondence relative to completion of file including requests for further documentation and communicates this information with the borrower(s) and mortgage representatives.
• Performs other duties as needed.

MINIMUM QUALIFICATIONS:

• High school diploma or GED
• 2-5 years of related experience
• General knowledge of regulatory requirements for residential/consumer loan originations
• Computer Literacy: Windows/Excel/Loan Origination Systems
• Knowledge of residential loan processes and qualifications for credit worthiness.
• Ability to organize work and complete tasks on time.
• Ability to deal with customers and mortgage representatives in a courteous and efficient manner.
• Good interpersonal, oral and written communication skills.
• Must be sensitive to regulatory timeframes
• Computer literacy: Ability to use PC; Windows, Excel, Loan Prospector and loan origination system (such as Encompass) software programs on a daily basis.

Licensing Requirement (SAFE Act)

• This position requires registration with the Nationwide Multistate Licensing System and Registry (NMLS) in compliance with the SAFE Act. Candidates must be eligible to register and maintain active status upon hire.

WORKING CONDITIONS

Work is mainly performed in a normal office environment.  Noise levels usually are moderate.

• Prolonged sitting
• Lifting from 5 to 10 lbs. (printer paper, storage boxes)
• Occasional bending or overhead lifting (storing files or boxes)
• The hazards are mainly those present in a normal office setting.

This job description may not be all-inclusive.  Employees are expected to perform other duties as assigned and directed by management.  Job descriptions and duties may be modified when deemed appropriate by management.

Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here. 

We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.

Pay Details:

$19.38 - $24.26 hourly

Please note, the base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, education, geographic location, internal equity, and other applicable business and organizational needs. 

This role is incentive eligible based upon company, business, and/or individual goal achievement and performance.

Team members accrue paid time-off (PTO), receive Holiday (PTO) and are eligible to participate in the bank’s Health and Wellness benefits including Medical, Dental and Vision Plans, Flexible and Health Savings Accounts, and a 401(k) Retirement Plan. In addition, the company provides Disability Insurance, an Employee Assistance Program, and Basic Life Insurance. Company sponsored Tuition Disbursement and Loan Repayment programs are also available. Voluntary benefits include Supplemental Life Insurance, Accident, Critical Illness, Hospital Indemnity and Legal plans.