Job Information
Blue Foundry Bank Sr Loan Processor /Jr Underwriter in Parsippany-Troy Hills, New Jersey
About Blue Foundry Bank
This is the Bank Where Things are Made. Blue Foundry is a bank where businesses are shaped, plans are formed, ideas are refined, solutions are built, and stuff gets done. Blue Foundry is revolutionary, bold, resourceful, roll-up-your-sleeves committed, smart, creative and fun. A Bank of movers, shakers, and makers…We are a Bank that Gets Things Done.
At Blue Foundry Bank we invest in the well-being of our most prized asset…our employees! We provide a robust array of programs and benefits to help employees advance their careers and enhance the quality of their lives. Our experiential learning and development program ensures employees are on track to grow their career as of day one.
In addition, our comprehensive compensation package includes; medical, dental, and vision coverage; life insurance, short- and long-term disability insurance; 401(k)/Roth with company match up to 5%; paid time off, and 11 paid holidays; employee referral bonus; and educational reimbursement.
Position Summary
We are seeking a detail-oriented and proactive Senior Loan Processor/Junior Underwriter to join our team. In this hybrid role, you will be responsible for processing and pre-underwriting various mortgage loan applications, including Conventional, Agency, Private Investor, and Portfolio loans for 1-4 family properties. Your expertise will ensure the accurate and efficient handling of First Mortgage Loans, Home Equity Loans, and Home Equity Lines of Credit.
This position offers an excellent opportunity for career growth and development within the lending industry. If you are a dedicated professional with a passion for providing exceptional service and support in the loan processing and underwriting process, we invite you to apply.
Primary Responsibilities
Processes and pre-underwrites Conventional, Agency, Private Investor and Portfolio first mortgage loan, home equity loan and home equity line of credit applications.
Conducts applicant welcome call in a timely manner.
Prepares and issues loan disclosures within regulatory timeframes, run credit, order services, and gather required documentation from applicant. Prepare needs letters within regulatory required timeframes.
Works closely with applicants and Loan Advisors to keep them apprised of application status and document requirements.
Reviews all documentation, including appraisal and updates accordingly in the LOS.
Calculates income, self-employment worksheets, asset availability and all required maintenance associated with preparing the loan for submission to Underwriting.
Maintains and indexes documents accurately in the LOS Document Repository.
Validates loan through AUS to ensure loan continually meets secondary market salability requirements and approval.
Works closely with borrowers and loan underwriters to clear outstanding commitment conditions prior to closing.
Assures all HMDA related field requirements are satisfied.
Responds to e-mail and telephone inquiries from customers and other professionals associated with the loan file in a timely manner.
Assists with Quality Control review prior to closing including but not limited to; updating the credit report (i.e., credit refresh) and associated updates to qualification ratios, reverification of employment and verification that credit documentation has not expired.
Works closely with LOS System Administrator and Lending Operations to test and document system release upgrades and enhancements in all environment levels (CIT, UAT and PROD).
Process loan modification requests and prepare for underwriter review.
Process subordination requests and prepare documentation for underwriter review.
Additional Responsibilities
Assists with post-closing functions as needed.
Assists with the writing and maintenance of related procedures.
Assists with internal and external audit requests.
Ensures all Federal and State laws and compliance regulations are being adhered to.
Attends seminars, webinars, meetings and participates in Bank events as needed or upon request.
Performs other duties as assigned.
Position Requirements
High school diploma or equivalent; bachelor’s degree a plus.
Minimum of five years’ experience processing and pre-underwriting 1-4 family first mortgage loans, home equity loans and home equity lines of credit (HELOC).
Ability to handle a heavy pipeline of applications and meet required deadlines and goals.
Extensive knowledge of secondary market and private investor lending requirements. Knowledge of government lending requirements is a plus.
Extensive knowledge of Automated Underwriting Systems (AUS) and ability to interpret and follow findings when processing and pre-underwriting loan files.
Working knowledge of Microsoft Word, Excel, Outlook, AUS, Investor portals and Dark Matter Empower or other leading Loan Origination Systems (LOS).
Detailed knowledge and understanding of federal and state laws and compliance regulations applicable to residential mortgage and home equity lending, the bank’s lending practices and secondary market guidelines.
Ability to create and maintain departmental procedures relating to processing and pre-underwriting functions.
Excellent written and oral communication skills, as well as good organizational skills and an eye for detail. Ability to effectively communicate with all levels of Management.
Self-motivated and able to work independently as well as collaboratively with all levels of Bank personnel and management, prioritize assignments, work under pressure and meet established deadlines
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, LGBTQ, national origin, disability or protected veteran status.
Come join the Blue Crew community and be part of our success!