Hiring Range: $21.06-$33.85
The posted salary range reflects Eastern’s expected hiring range. Actual pay may vary based on experience, skills, and market factors; additional compensation may apply. Eastern offers a robust benefits and retirement package. Please see the description of benefits included with this job posting for additional information.
***Hybrid schedule based out of Manchester, NH****
The Mortgage Processor is responsible for the timely processing of mortgage loan applications which includes collecting and analyzing supporting documents. Serving as liaison with borrower(s), real estate agents and service providers. Ensures file adheres to product, company, investor and secondary market guidelines and keeping loan on track to meet all deadlines.
Loan Analysis & Compliance
- Conduct a thorough review of application packages to ensure compliance with company policies and investor requirements.
- Run AUS application (DU, DO, LP, GUS, Total Score Card etc.), collect and analyze all required documentation to obtain underwriting approval.
- Review income documents including VOE’s, paystubs, W2s, tax returns and financial statements and re-calculate income as needed to support qualifying income.
- Review credit reports, address any warnings/alerts, order updates as needed and request any letters of explanation needed from borrowers.
- Obtain and review asset documents to ensure acceptable source and sufficient funds to close.
- Review and clear all initial disclosures ensuring all information is complete, forms are signed and dated.
- Order all services required including title work, appraisal, flood determination, fraud search, tax transcripts and SSA-89.
- Collect all conditions required for approval by Underwriter and resubmit to underwriting for closing approval.
Once loan is conditionally approved request Early Closing Disclosure be issued from Central Disclosing Department within TRID requirements to meet closing date.
Communication
- Serve as primary liaison between all parties connected to transaction including Underwriters, Loan Officer, borrower(s), title agents, and real estate agents and other internal departments.
- Communicate all outstanding requirements clearly and professionally to all relevant parties, both verbally and in writing.
- Ensure all parties are kept up to date on loan status. Communication is key element to becoming a successful processor.
Pipeline Management
- Review pipeline daily to ensure that new files are reviewed timely, services are ordered and followed up on, commitment and closing dates and rate locks are met.
- At a minimum meet with each Loan Officer supported weekly to review pipeline.
- Update closing and commitment dates as needed to ensure management has updated information for predicting monthly closing volume.
Post-Closing & Audit Response
- Respond promptly to post-closing investor requests, QC audit reviews, ensuring timely resolution of any issues. Elevate to management as needed.
Productivity & Team Contribution
- Provide support to assigned Loan Officers to ensure their loans are moved to closing timely. Review any issues and work together to resolve.
- Successfully manage assigned pipeline averaging 40 files and reach out to manager and team members as needed.
- Develop strong working relationships with other operations departments to ensure smooth movement of file through to closing.
- Assume additional duties as assigned, cross-train within the department, and remain responsive to evolving business needs.
- Once loan is cleared complete pre-closing procedure, schedule loan to closing, complete closing verbal and submit to closing department.
- Maintain up-to-date knowledge of all company, investor, and correspondent programs and requirements. If file does not meet guidelines for program work with loan officer to determine whether file can be restructured or submitted for denial.
PROBLEM SOLVING & DECISION MAKING:
A mortgage processor is responsible for collecting and reviewing documentation and determining whether it meets program requirements prior to submitting to underwriting. They must be able to work with appropriate party to resolve any issues and/or obtain additional supporting documentation to support file approval. Files that are not approvable are to be reworked or submitted for decline.
Education and Experience
- High school diploma or GED or equivalent combination of training and experience
- Minimum of 2 years mortgage banking or equivalent experience
- Computer literate, familiarity with mortgage processing software a plus.
Skills/Knowledge
- Ability to read and understand credit reports, calculate income and determine sufficient acceptable assets for closing.
- Excellent communication skills for clear messaging of requirements and decisions.
- High attention to detail and strong organizational skills to manage pipeline and process multiple products.
- Problem-solving mindset with the ability to recognize and resolve problems in a timely manner.
- Strong time management skills to meet strict deadlines, work well under pressure and demonstrate flexibility as priorities change.
- Commitment to compliance and risk management best practices.
Skills Required
- High school diploma or GED or equivalent combination of training and experience
- Minimum of 2 years mortgage banking or equivalent experience
- Run AUS applications (DU, DO, LP, GUS, Total Score Card)
- Ability to read and understand credit reports and calculate qualifying income
- Review and verify asset documentation to confirm acceptable source and sufficient funds
- Knowledge of TRID and loan disclosure timing requirements
- Excellent written and verbal communication skills
- High attention to detail and strong organizational skills to manage multiple files
- Problem-solving mindset with ability to resolve documentation issues and obtain supporting evidence
- Strong time management skills to meet strict deadlines and changing priorities
- Computer literate; familiarity with mortgage processing software a plus
Eastern Bank Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Eastern Bank and has not been reviewed or approved by Eastern Bank.
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Retirement Support — A defined‑benefit pension layered with a 401(k) and ESOP/cash‑balance elements creates uncommon depth for long‑term wealth building. This retirement stack differentiates the total package versus many regional banks.
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Equity Value & Accessibility — An employee stock ownership plan adds equity participation alongside core pay and benefits. IPO‑related share allocation underscores the program’s role in total rewards.
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Inclusive Benefits Coverage — Long‑standing LGBTQ+ support and sustained recognition for equality practices indicate benefits parity such as equal partner coverage. Employee networks and an inclusion focus are positioned as integral to the overall benefits experience.
Eastern Bank Insights
What We Do
Founded in 1818, Boston-based Eastern Bank is Greater Boston’s leading local bank and the largest bank-owned independent investment advisor in Massachusetts with approximately 110 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, Rhode Island and Connecticut. Eastern provides a full range of banking and wealth management solutions for consumers and businesses of all sizes including through its Cambridge Trust Wealth Management and Private Banking divisions, and takes pride in its outspoken advocacy and community support that includes more than $240 million in charitable giving since 1994. An inclusive company, Eastern is comprised of deeply committed professionals who value relationships with their customers, colleagues and communities. Member FDIC, Equal Housing Lender Investments are not FDIC Insured • May Lose Value • Not Bank Guaranteed • Not a Deposit • Not Insured By Any Government Agency
