The Commercial Loan Processor calculates and processes payoffs, and releases titles and insurance interest. Processes loan payments and applies funds to customer accounts. Being a Commercial Loan Processor responds to customer inquiries and requests for net payoff quotes. Calculates and prepares refunds for customers that submit overpayments. In addition, Commercial Loan Processor may require an associate's degree or its equivalent. Typically reports to a supervisor or manager. Being a Commercial Loan Processor gains or has attained full proficiency in a specific area of discipline. Works under moderate supervision. Working as a Commercial Loan Processor typically requires 1-3 years of related experience. (Copyright 2024 Salary.com)
Responsible, under limited supervision and in accordance with established policies and loan processing procedures, to process, close, and disburse residential real estate loans. Ensures accuracy and timeliness of all files relative to commitment and closing dates and bank processing and closing goals. Retains and utilizes mortgage operation manual. Assists in training of less experienced Mortgage Loan Processors. Develops and maintains effective working relationship with other departments in the lending division, real estate agents, borrowers, and other related outside contacts. Receives and responds to inquiries from customers and staff in a timely and accurate manner. Adheres to Central Bank's policies and procedures, underwriting requirements, as well as state and federal regulations.
ESSENTIAL DUTIES AND RESPONSIBILITIES
The essential functions include, but are not limited to the following: