Mortgage Processor Mortgage Processor …

BMO Financial Group
in Naperville, IL, USA
Festanstellung, Vollzeit
Seien Sie der erste Bewerber
BMO Financial Group
in Naperville, IL, USA
Festanstellung, Vollzeit
Seien Sie der erste Bewerber
Mortgage Processor
Mortgage Operations, Loan Processor Naperville, IL, USA/en-US/External/job/Naperville-IL-USA/Mortgage-Operations--Loan-Processor_R200011802/apply


1200 E. Warrenville Road

Job Family Group:

Customer Shared Services

Thank you for your interest in BMO Financial Group. We are currently working towards providing a better candidate experience by including all of our job descriptions in both English and French. In the meantime, if this role is located in Quebec and/or New Brunswick please reference the French job description available below the English version. Otherwise please see the job description below in English as per federal language requirements.

Nous vous remercions pour votre intérêt à l'égard de BMO Groupe financier. Nous travaillons actuellement à offrir une meilleure expérience aux candidats en publiant toutes nos descriptions de poste en français et en anglais. Entre-temps, si ce poste est affiché au Québec ou au Nouveau-Brunswick, veuillez consulter la description de poste en français disponible sous la version anglaise. Autrement, veuillez consulter la description de poste ci-dessous en anglais, conformément aux exigences fédérales en matière de langues.

Under the direction of the Community Operations Leader, the Loan Processor is responsible for processing first mortgage transactions from the receipt of the file from the Community Operations Support Specialist to final Underwriting and Quality Assurance.

This role is also accountable for validating all of the credit, income, asset and supplemental information used to qualify the prospective borrower for the loan requested. The Processor is responsible for producing the 1008 with accurate figures as to qualifying ratios and either submitting the loan to LP or the underwriter for a final approval.

Furthermore, this individual must ensure all regulatory loan documents are provided to a borrower in a timely manner. The Loan Processor will schedule loan closing for all loans in their pipeline.

70%: Process first mortgage transactions

  • Responsible for managing assigned pipeline of 50+ loan transaction on a daily basis.
  • CLC Single Point of Contact to the Customer after the application has been taken and completed by the mortgage banker a.k.a. mortgage loan originator.
  • Processor is responsible for gathering documentation to hand off complete file to Underwriting. Should borrower request changes to loan terms or have specific questions about the terms of the loan, the Processor refers borrower to the mortgage banker that originated to loan.
  • Completes the Welcome Call.
  • Collects the appropriate loan documentation required for the file, based on terms and conditions previously presented to the customer by the mortgage banker
  • Reviews the 10 Day Letter, which is then sent to and completed by the COS.
  • Confirms product requirements, loan terms, conditions and loan fees that were previously presented by the mortgage banker and agreed to by the borrower.
  • Confirms that all required loan conditions have been satisfied by the borrower, as well as, various third parties (as requested by the Underwriter).
  • Schedules loan closings for all deals in their pipeline.
  • Ensures the file meets the requirements outlined in the QA checklist.
  • Troubleshoot documentation related gaps issue that may have arisen during the loan origination process in order to submit a complete loan package upon which a lending decision can be made.
  • Ensure all loans in their pipeline are properly dispositioned.
  • Review submitted loan documentation in accordance BMO Harris lending policies and procedures.
  • Provides assistance to the Closing Department, when required.

30% Risk Management

  • Act in full compliance with Bank policy and external regulations to protect the Bank's assets.
  • Monitor and ensure team member adhere to Mortgage Operations procedures.
  • Adhere to all required lending policies, procedures and standards, including First Principles and BMO Harris Code of Business Conduct and Ethics.
  • Act in accordance with regulatory and compliance requirements that include, but are not limited to, Anti-Money Laundering and Terrorist Financing Reporting requirements, RESPA, Fair Credit Act, FCAC consumer provision requirements, and Privacy Act provisions in accordance with Bank policies and procedures.
  • Follow security and safeguarding procedures and apply appropriate due diligence in accordance with Bank policy for the prevention of loss due to fraud, robbery, counterfeiting, money laundering or defalcation.
  • Maintain the confidentiality of both customer and Bank information ensuring compliance with Bank Policies & Procedures.
  • Understand risks and take appropriate actions to mitigate risks as they relate to both the mitigation factors and the strengths that should be noted on the 1008 prior to submission.
  • Maintain the integrity of managing personal information in the process of evaluating the potential borrower, including all documentation, and any other requirements to maintain operational integrity.
  • University or Undergraduate degree preferred
  • H.S. Diploma or equivalent required
  • Minimum of 3 years of previous experience in processing first mortgage transactions
  • Excellent communication and relationship building skills
  • Customer centric
  • Excellent organization skills and ability to manage multiple priorities
  • Knowledge of real estate lending products, regulatory compliance and secondary market guidelines (FNMA/FHLMC/FHA).
  • Computer literate and strong familiarity with credit financial analysis techniques
  • Excellent judgment, logic and reasoning
  • In-depth pipeline management experience

Were here to help

At BMO Harris Bank we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO Harris Bank team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one for yourself and our customers. Well support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, well help you gain valuable experience, and broaden your skillset.

To find out more visit us at .

BMO Harris Bank is committed to an inclusive, equitable and accessible workplace. By learning from each others differences, we gain strength through our people and our perspectives. BMO Harris Bank N.A. is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Posted 4 Days AgoFull timeR200011802 BMO Financial Group

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider the 8th largest bank, by assets, in North America. With total assets of $728 billion as of October 31, 2018, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

We serve Canadian clients through BMO Bank of Montreal®, our personal and commercial banking business, BMO Nesbitt Burns®*, one of Canada's leading wealth management firms, and BMO Capital Markets, our North American investment and corporate banking division.

In the United States, clients are served through BMO Harris Bank, a major U.S. Midwest personal and commercial bank, and BMO Private Bank, with wealth management offices across the United States, as well as BMO Capital Markets, our North American investment and corporate banking division.

We help our customers make money make sense by delivering the broadest range of financial services through a single point of contact. Our financial service professionals provide access to any services our customers require across the entire enterprise.
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