On-Demand Training


Seeking Loan Processor/Underwriter


Location: Manteno, Illinois

Wage/Salary: $16.25 - $19.90/hourly

Hours: 40 hours per week, Monday through Friday. (No fixed schedule, the hours vary upon bank needs.)

To apply: Visit the employment section of our website at: www.homestarbank.com to fill out our online application.

Position Summary:

Responsible for processing / underwriting and evaluating all credit and Secondary Market loan applications in order to maximize company profits and minimize risk or loss. Typing closing of loans through activities such as processing loan documentation by verifying the accuracy of completion.

The listings below are intended to describe the general content of basic requirements of this job. It is not intended as an all-inclusive description of duties, responsibilities or requirements.

Principal Duties and Responsibilities:

1. Process applications

       -Enter application into Loan Origination System

       -Pull credit reports

2. Process new starts

      -Prepare and mail early disclosures

      -Prepare and send Commitment/Approval letters

      -Order appraisals, title work, flood determination, etc

      -Prepare and mail Letter of Understanding

      - Prepare and send commitment / approval letter

3. Underwrite files

      -Review appraisals

      -Review title work

      -Review purchase contracts

      -Review homeowners / flood insurance

      -Reconcile debt from credit report – update loan system

      -Analyze ratios

      -Analyze self-employed income

      -Calculate qualifying income – update loan system

      -Verify funds for closing-gift money, liquid assets, sale of property, etc.

      -Determine if loan is a HOEPA loan

      -Determine if PMI is needed

4. Determine if additional documentation is needed to complete the loan file and keep in compliance with Secondary Market requirements.

5. Update & Maintain tracking system for each loan file.

6. Communicate with Loan Officers regarding particulars of loan files

7. Determine when a file is ready for the Loan Officer to schedule closing

8. Write-up closing instructions

9. Type Closings from other Underwriters / Loan Officers

10. Maintain LIP filing

11. Process payoffs

12. Prepare and scan annual adverse action files / withdrawn files

13. Prepare mortgage modifications

14. Prepare extensions

15. Process construction draws

16. Disburse closing packages

17. Achieve annual referral expectations for the Bank

18. Other duties as assigned

Education and Experience Requirements:

1. Minimum 1 year experience underwriting non-secondary market loans preferred.

2. High School education required.

Skills and Abilities:

1. Functionality and operation of Microsoft Windows, Word and Excel

2. Knowledge of ITI system

3. Honesty

4. Team player

5. Ability to provide exceptional customer service and ensure others do the same

6. Excellent communication skills, both verbal and written

Physical Requirements:

1. Computer use up to 7 hours a day

2. Lifting of weights up to 20lbs

HomeStar is an Equal Opportunity/Affirmative Action Employer, Minority/Female/Disabled/Veteran.