Mortgage Loan Processor II

First Merchants Bank is seeking a Mortgage Loan Processor II to join our team. This role will be responsible for analyzing and evaluating all information provided within a loan file for compliance with applicable investor guidelines, regulations, and bank policies as well as coordinating with the originator, underwriter, and closer to get the loan to the closing table.

• Validate and analyze income documentation
  • Calculate income from paystubs and validate to W-2's.
  • Calculate self-employed income.
  • Seek out additional documentation as needed to support the income used for qualification.
  • Address discrepancies.
• Validate and analyze asset documentation provided
  • Validate sufficient funds to close.
  • Validate required reserves.
  • Explain/remove inconsistent/large deposits.
  • Calculate asset value as required by applicable investor.
• Complete the appraisal review form.
• Seek corrections for issues and deficiencies.
• Validate the appraisal to requirements.
• Provide copy to borrower as required by regulations.
• Analyze credit report for accuracy. Request updates and clarifications as needed.
• Run Automated Underwriting System (AUS) engines as needed and ensure supporting documentation required by the Automated Underwriting System (AUS) findings and the investor requirements are met prior to submitting the file to underwriting.
• Review flood determination and take required action.
  
  Collect appropriate documentation to clear applicable conditions set by the underwriter.
• Complete required work to prepare the loan file for the closer.

• High school diploma or equivalent (GED).
• Over three (3) through five (5) years of mortgage processing or related experience.
• Experience with government and/or conventional loan processing.

• Additional Benefits

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities. This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.