Boston Private Bank & Trust Company

  • Processing Team Lead

    Job Locations US-MA-Boston
    Posted Date 5 days ago(8/12/2019 2:01 PM)
    Job ID
    # of Openings
  • Overview

    Boston Private is a leading provider of fully integrated wealth management, trust and private banking services. For more than 25 years, Boston Private has taken a highly personalized approach to serving the complex financial needs of individuals, families, business owners, private partnerships, nonprofits and community partners. Boston Private is also an active provider of financing for affordable housing, first-time homebuyers, economic development, social services, community revitalization and small businesses. 

    Headquartered in Boston, Boston Private has offices across the U.S. including Boston, San Francisco, San Jose, Los Angeles and South Florida. Private banking and trust services are provided through Boston Private Bank & Trust Company. Wealth management services are provided through Boston Private Wealth LLC, an SEC registered investment adviser and a wholly owned subsidiary of Boston Private Bank & Trust Company.


    The Processing Team Lead is responsible for maintaining a loan pipeline and also providing pipeline coverage for Loan Processors. This individual will also assemble and review critical Loan Estimate disclosure packages when needed. The Team Lead is responsible for assisting with training new employees as well as providing ongoing training and support for teammates within the department. The Team Lead is responsible for promoting and maintaining an efficient and positive working environment amongst the processing and disclosing teams.



    Objective 1:  Maintain a small pipeline (estimated 10 loans) to assist Loan Originator in managing workflow on a daily basis.


    • Initiate timely processing of new applications to be in compliance with state and federal regulations.
    • Order appraisals, flood certificates, credit reports, and verbal verifications of employment, tax transcripts and legal work for all loan files.
    • Screen borrower names through fraud system to comply with OFAC policy.
    • Pre-underwrite the loan file prior to sending to underwriter for approval.
    • Prepare all loan files for closing and submit loan information to loan closing department for final document preparation.
    • Screen incoming calls and assist clients and potential clients whenever possible.
    • Initiate contact on loans in process for follow-up documentation when needed.
    • Attend weekly pipeline meetings with other key department personnel.
    • Monitor pipeline daily to ensure all deadlines are met.


    Objective 2: Prepare underwriting income worksheets and sign off on some conditions.


    • Prior to sending a loan file to underwriting, complete the income worksheets for the loan file including business income worksheet, k-1 worksheets, and W-2, Sch. C worksheets.
    • Prior to sending a loan file to underwriting that will be sold on the secondary market, run the loan through FNMA’s DU system.
    • Clear some of the more basic underwriting conditions like paystubs and bank statements.
    • Demonstrate superior ability to calculate income from personal and business returns, K-1’s, Schedule C and Schedule E income documents.


    Objective 3: Monitor Processing Pipeline, provide pipeline support and coverage, Update Processing Procedures.


    • Assist with training Account Executives (i.e. processors) – new and current
    • Provide primary support for vacation coverage for Account Executives
    • Process new loans and existing loans in other Account Executive pipeline; including loans in different states and with different programs (i.e.; CRA and Construction to perm).
    • Assist Processing & Closing Manager with monitoring the processing pipeline to assist with rush loan closing requests and to reassign loans to allocate workload evenly among the processing team when needed.
    • Monitor projected Closing Disclosure out date and work with Closing Team Lead to help ensure timely notification of the Closing Disclosure Request.
    • Assist the Processing & Closing Manager with monitoring various processing pipeline reports (i.e. 30 day notice, Sent to LO milestone, Withdrawn Declined loans).
    • Assist the Processing & Closing Manager with testing, updating and enhancing the Processing Procedures.
    • Responsible for understanding how to prepare and review Loan Estimate disclosure packages to assist if needed.






    • Bachelor's degree preferred
    • At least 5-8 years of experience with processing loans that meet FNMA guidelines.
    • Experience with preparing a Loan Estimate.
    • Experience with agencies that provide grants for closing cost assistance and down payment assistance.
    • Experience with training employees.
    • Experience with writing procedures.
    • Demonstrate superior ability to calculate income from personal and business returns, K-1’s, Schedule C and Schedule E income documents.
    • Ability to learn Banks various processing systems (i.e.; Encompass, Credit Plus, SmartFees Closing Corp).
    • Familiar with the concepts and documents required to process a loan including documentation requirements, program parameters, secondary market guidelines, and lending regulations.
    • Experience with processing a pipeline of 30 loans or more at one time.
    • Applicant must be very detail oriented, be able to learn new concepts quickly, be able to work well under pressure and be familiar with all residential lending regulations.

    Boston Private is an Equal Opportunity Employer




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