At Mercantile Bank of Michigan, we are dedicated to our Customers, Employees and Communities. Our exceptional team members are committed to maintaining an environment of personal growth and development while providing professional and personalized service to customers and supporting our diverse communities.
Employees are our most valuable asset! If you have an interest in joining a team that operates with INTEGRITY, DISCIPLINE and PURPOSE, consider Mercantile Bank as a potential employer.
Mortgage Loan Processor III
The Mortgage Loan Processor III plays a key role in the timely and accurate production of a mortgage file and guides the file from point of application to closing. The Mortgage Processor III position is the most advanced Processing position at the bank, requiring basic underwriting training coupled with leadership and strategic planning skills.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following.
- Orders, obtains and validates necessary documents including property title commitments, appraisals, tax transcripts, credit reports, income/employment, deposit/ mortgage/ rental verifications, flood certifications, subordinations, insurance policies, etc.
- Assists in building checklists and other useful training materials for new staff.
- Works with customers and Mortgage Loan Officers to ensure required documentation is collected and regulatory timelines are adhered to during the loan process. Has an advanced understanding of regulation, including TRID and HMDA, and assists new Processing staff with questions on these and other topics.
- Possesses an in-depth understanding of Portfolio, secondary market, and other investor guidelines. Assists with the training of newer Processing staff in these areas.
- Submits loans through an Automated Underwriting System (AUS), analyzes findings, and submits files to Underwriting. Has the training and ability to clear some advanced underwriting conditions.
- Assists Mortgage Loan Officers with understanding and obtaining underwriting conditions, as well as final loan approval with lock expiration monitoring.
- Assists Mortgage Loan Officers, Post Closing Department, and other Processing staff with resolving loan file exceptions.
- Expert use of the Bank's Loan Origination System (LOS), Outlook and other appropriate tools/resources to efficiently and accurately perform the job function.
- Has at least a basic understanding of self-employment income analysis.
- Troubleshoots and regularly offers suggestions to the management team in regards to process improvement and department efficiencies. Assists in team meetings with discussion topics while consistently demonstrating leadership capacity to the department.
- Other duties and responsibilities as needed.
QUALIFICATIONS To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
- High School diploma or general education degree (GED).
- 5 or more years' experience with processing or underwriting for conventional fixed and ARM products, FHA, MSHDA, RD and construction loans coupled with an excellent knowledge of secondary marketing guidelines.
- Expert knowledge of computer programs such as Microsoft Office Word and Excel desirable.
- Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, and percentages. Ability to apply concepts of basic algebra and geometry.
- Ability to apply common sense understanding to carry out detailed but uninvolved written or oral instructions. Ability to deal with problems involving a few concrete variables in standardized situations.
- Ability to work in an office environment which may include many hours of computer and phone usage. Reasonable accommodations may be made to ensure individuals with disabilities can perform the essential functions.
We believe embracing human diversity makes us a better bank. We know it makes us better people.
Employees with dissimilar backgrounds, perspectives, opinions and lifestyles help us understand the motivations and desires of our many different customers. Thus, we will strive to maintain a workforce that reflects the increasing diversity of the communities we serve by ensuring equal employment opportunity for all persons without discrimination on the basis of race, color, religion, sex/gender (including gender identity), national origin, age, height, weight, disability, medical condition, genetic information, sexual orientation, disabled or Vietnam era veteran, other forms of military status, marital status, or other protected characteristics.