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Loan Processor - Chicago

Mortgage Analysts / Loan Processors: Your quest for the perfect processing opportunity stops here! The Federal Savings Bank (“TFSB”) is actively searching for experienced mortgage loan processing professionals to support our top Chicago, IL loan production office.  This position can be remote! At TFSB, the senior loan processing role is known as the "Underwriting Analyst".  The Underwriting Analyst’s primary goal is to have a first-time approval from Underwriting with minimal conditions.

What We Offer:

  • Generous time off
  • Company culture that fosters work/life balance 
  • Robust Health, Dental, and Vision insurance plans and 401k matching available
  • Competitive salary plus the BEST monthly bonus plan in the biz!
  • Room for advancement - We promote from within!
  • In-house virtual training opportunities to broaden your industry knowledge
  • Employee recognition on a national scale
  • Big bank capability, small-bank familial culture

Duties and Responsibilities:

  • Daily utilization of "Encompass" loan origination systems and automated underwriting systems "DU/LP"
  • Set and maintain proper expectations with all parties on the loan file
  • Analyze package for completeness to ensure loan file meets investor guidelines
  • Analyze credit, income, asset and collateral documents and submit files to underwriting
  • Clear loan conditions and communicate effectively with Sales, Processing and Underwriting team
  • Collaborate with Closing Processing Analysts to review & analyze title for all requirements and address issues, insurance coverage for mortgagee
  • Maintain loan file compliance while managing pipeline as various volume levels
  • Work effectively under specific time constraints and meet end-of-month deadlines
  • Assist in the seamless transition of new Mortgage Bankers and operations employees to our model
  • Complete Bank's customer service training and apply to everyday communications with borrowers and mortgage bankers  

It is the responsibility of the Underwriting Analyst to review, analyze, and submit loan documents to Underwriting based on agency, investor, and company guidelines with a focus on efficiency and quality. 

Job Requirements:

  • High school diploma required
  • 3 + years recent Residential Mortgage Processing experience required
  • Spanish language fluency preferred
  • Recent Correspondent Lending experience strongly preferred
  • Knowledge of agency loan programs, investor loan programs, and underwriting criteria for government and conventional offerings
  • Experience processing FHA & VA loans strongly preferred
  • Experience managing a pipeline of 40+ Purchase & Refinance loans
  • Proficiency with Encompass loan origination software 
  • Ability to calculate income, including self-employed
  • Excellent interpersonal, communication, and time management skills
  • Ability to operate effectively & efficiently in high-pressure situations 
  • All applicants must be flexible with their schedules, as they may be required to work after-hours, especially during peak volume periods 

    #thefederalsavingsbank #joinTFSB #TFSBcareers

    The Federal Savings Bank is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status
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