OverviewThe Residential Loan Administrator (LA) is responsible for all aspects of processing and closing residential loans. The LA is responsible for review of new residential loan files received from Mortgage Loan Originators (MLOs) as well as preparing all loan documents. The LA will deliver superior customer service using all forms of communication. This position entails providing and retrieving documentation and information to and from Borrowers, Vendors, Bank Attorneys/Settlement Agents in order to process, close and disburse the residential loan transaction. The LA assists with the mortgage loan closing process by reviewing loan documents for compliance, completeness and accuracy. Job responsibilities will vary depending on workflow and volumes between processing, pre-closing, closing and post-closing duties.Flexible Location: This position is located at our Corporate Headquarters office in Ithaca, New York. Tompkins also maintains an administrative office in Batavia, New York. This position can be based at any of these locations.Responsibilities
Retrieve and review loan documents received from MLOs for residential loans.
Order required services from approved vendors (appraisal, flood, transcripts, title, etc.) that are required to originate residential loans
Verify asset, employment/income and property information as required by loan policy and secondary market/investor guidelines.
Review accuracy and completeness of initial disclosures and secondary market findings prior to submitting residential loans to underwriting
Send commitment letters to borrowers and Settlement/Closing Agents, monitor and retrieve outstanding conditions
Continually work with MLOs and Underwriters to clear files for closing and update our Loan Origination Software (LOS) with outstanding items and retrieved information as items are received, including expiring documentation, in anticipation of closing
Monitor a variety of reports including the current pipeline to date, document and rate lock expiration dates while maintaining a daily status on individual files.
Continually communicate with borrowers and MLOs using verbal and written communication as milestones are met and cleared.
Work directly with Closing Attorneys and Settlement Agents to schedule and prepare the closing documents for residential loans
Monitor, track, receive and review necessary title documents provided by Settlement/Closing agents to prepare loan documents
Calculate proceeds, payoffs and escrows for funding the net proceeds of the residential loan to Settlement/Closing agents with internal transfers or wires
Retrieve completed loan documents from Bank Attorneys/Settlement Agents and review for completeness, accuracy and compliance
Perform post-closing tasks and submit closed files to Loan Servicing
Complete all education and training required for this position
Maintain accurate industry knowledge staying abreast of regulatory changes and monitoring how those impact current processes and policies
Support mortgage operations team, as required
All other duties as assigned
Qualifications
High School diploma or GED.
2-3 years of basic banking or lending experience.
Strong customer service skills.
Proficient reading, writing, grammar, mathematics (balancing, debits/credits), and analytical skills.
Computer proficient with moderate typing skills; timely accurate and organized.
Excellent communication skills with the ability to negotiate and resolve conflict, provide clear and concise instruction to others, relay information in a relevant and effective manor between multiple parties.
Exhibit varying degrees of mortgage processing knowledge.
Must be able to organize, assess and prioritize large volumes of documentation.
Proven ability to manage multiple high priorities at varying phases of the process.
Preferred Qualifications:
Associates Degree
Industry related experience within the last 2 years and knowledge relating to Closing Bank Attorneys and Settlement Agents.
Understanding of secondary mortgage market requirements, specifically with Freddie Mac, Fannie Mae, Sonyma, FHA and FHLB MAP.
Familiarity and experience with Encompass LOS, Encompass Consumer Connect and Jack Henry Core Banking Software.
Knowledgeable in compliance regulations including but not limited to: HMDA, CRA, Reg Z, RESPA, Fair Lending and TRID.
Benefits
Medical
Dental
Vision
401(k) Match
Profit Sharing
Paid Time Off
11 Holidays
Tuition Reimbursement
Free Parking throughout Tompkins Community Bank
Employee Referrals
EEO StatementTompkins is committed to a policy of Equal Employment Opportunity ("EEO") with respect to all team members and applicants for employment and a work environment free from discrimination (including unlawful harassment) based on race, color, religion, sex, sexual orientation, transgender status, gender non-conformity, gender identity, gender expression, national origin, age, marital status, domestic violence victim status, disability, predisposing genetic characteristics, military or veteran status or status in any group protected by federal, state, or local law. For more information, please click here (https://jjk-ecomm-llpmc-prod.s3.us-east-2.amazonaws.com/posters/federal/FED-E-B-EEOC-FMLA-POLY49654.pdf) #communitybankPay RangeUSD $22.00 - USD $27.00 /Hr.