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Commerce Bank Mortgage Utility in Kansas City, Missouri

About Working at Commerce

Wouldn’t it be great to build your career at a bank that’s known for helping people with their financial challenges? That’s exactly what you’d be doing when you join the team at Commerce Bank. We’re looking for teammates who are ready to do whatever it takes to help our customers with their everyday financial needs. You’d be helping yourself too, because Commerce has a tradition of recognizing and rewarding team members for their talent, skills and contributions.

No wonder we’ve been an industry leader for over 150 years and have developed a reputation as a great place to work in the financial services world. If you’d like to be a part of a team and culture that is respected by its peers and in your community, we should talk. We’re always looking for the best and brightest.

About This Job

As a Mortgage Utility, you'll perform the core duties of Processing and Closing. You'll float between functional areas based on volume and capacity levels or process and close their your own applications.

Essential Functions

Processing:

  • Independently and proficiently process all files, including highly complex files, no matter the initial level of application completeness

  • Maintain continual, consistent, and open communication with all appropriate parties to the transaction in accordance with current Service Level Agreements (SLAs). Consistently document Loan Processing System with applicable correspondence.

  • Review and evaluate applications submitted by Private Bankers and/or Mortgage Banker (MB) to verify completeness of application data on context

  • Order and ensure accuracy of third party vendor work; appraisal, title commitment and endorsements, tax transcript, payoff, wire instructions and closing protection letter, subordination agreements and homeowners insurance

  • Pre-underwrite files (including highly complex files) to obtain and analyze documentation, in timely fashion, regarding employment, credit, income, assets and collateral. Verify documentation meets Commerce/Investor/Agency Standards. Ensure processing and automated underwriting systems are updated to contain appropriate, consistent, and matching system data based on supporting documentation that has been obtained.

  • Ensure timely submission of file for underwriting decision. Satisfy required underwriting conditions. Communicate underwriting decision to Private Banker, applicant and/or Mortgage Banker on consistent basis.

  • Ensure processing system is utilized in accordance with policy and procedures (including accurate file status and all required data in compliance with government reporting requirements)

  • Process Conventional, FHA,VA and USDA applications according to respective agency guidelines

  • Ensure timely mailing of applicant correspondence in accordance with current Service Level Agreements (SLA’s). This includes standard policy-required applicant correspondence regarding needed file documentation, looming deadlines, general milestone communication points and decisions. For Private Banking loans, this communication is generally with the Private Banker and/or MB rather than the applicant.

  • Perform other duties as assigned

Closing:

  • Review each approved loan file upon receipt so closing packages can be generated for all assigned loan files in accordance with established turn-time expectations

  • Make contact with applicant and Title Company to schedule closing

  • Maintain open communication with all interested parties in accordance with current Service Level Agreements

  • Thoroughly review loan files to verify completeness of data prior to preparing closing documents. This includes final verification, as applicable, of third party vendor work such as Homeowners Insurance and title work.

  • Ensure approved loan file documentation meets Residential Mortgage Lending/Investor/Agency Standards

  • Ensure Loan Origination System is updated to contain appropriate and accurate system input based on supporting documentation in the file

  • Satisfy required underwriting conditions

  • Ensure Loan Origination System input is completed in accordance with policy including accurate file status and all required data fields

  • Balance loan funding and prepare wire for disbursement

  • Ensure timely submission of approved files to Title Company/Settlement Agent for settlement

  • Prepare closing packages for Conventional, FHA, VA and USDA applications according to respective agency guidelines

  • Independently and proficiently close highly complex files

  • Ensure timely follow-up and correction of post-closing deficiencies

  • Perform other duties as assigned

Knowledge, Skills & Abilities Required

  • Intermediate knowledge of general mortgage policies, procedures, guidelines, and regulations including outside investor guidelines

  • Intermediate knowledge of complex personal and business financial statements

  • Ability to work overtime in peak volumes as determined by Commerce management

  • Ability to effectively solve problems with sound judgment and analytical decision-making skills

  • Proficient mathematical skills

  • Ability to work independently while managing and meeting required turn-time deadlines

  • Excellent customer service skills

  • Motivated and organized self-starter with strong attention to detail and the ability to manage multiple priorities

  • Inquisitive, agile and strong team player with excellent written, verbal and interpersonal communication skills

  • Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values

  • Intermediate level proficiency with Microsoft Word, Excel, Teams and Outlook

    Education & Experience

  • Associates Degree or Equivalent

  • 3+ years of processing or closing experience or a combination of both

  • Knowledge of general mortgage policies, procedures, guidelines, and regulations including outside investor guidelines

  • Experience using Encompass Loan Origination System preferred

Location: 922 Walnut St, Kansas City, Missouri 64106

Time Type:

Full time

Commerce Bank has been awarded numerous awards for our company culture. We have been included on distinguished lists such as Forbes’ Best Midsized Employers, Forbes’ Best Employers for Women, and Korn Ferry’s Engaged Performance Award. You’ll see the difference for yourself when you join the team.

Why Commerce? (https://www.commercebank.com/careers/about-commerce)

Inclusion and Diversity at Commerce

How to Join Our Team (https://www.commercebank.com/careers/how-to-join-our-team)

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    Equal Opportunity Employer

Commerce Bank is proud to be an Equal Employment Opportunity employer and believes that every individual should have the opportunity to work at a job for which he, she or they qualifies. We celebrate diversity and do not discriminate based on race, religion, color, national origin, sex, sexual orientation, age, gender, gender identity, gender expression, veteran status, disability status, or any other applicable characteristics protected by law.

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