Senior Residential Loan Specialist

POSITION: Senior Residential Loan Specialist

Position Summary:

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity.The Residential Loan Specialist plays an integral role in the mortgage and home equity loan process, supporting both origination and processing functions to ensure a seamless, efficient, and compliant loan experience from application to closing. This hybrid position combines the client-facing responsibilities of a Loan Officer Assistant with the operational and compliance-focused duties of a Loan Analyst. The Residential Loan Specialist works closely with borrowers, Loan Officers, Underwriters, realtors, and internal departments to gather documentation, analyze borrower qualifications, prepare and submit loan files, and communicate key updates throughout the loan lifecycle. With a strong focus on accuracy, regulatory compliance, and client service, this role directly contributes to successful loan closings while supporting the productivity of a high-producing Loan Officer and maintaining a positive borrower experience.

Key Result Areas:

* Deliver a customer-focused experience, prioritizing clear communication and the borrower's financial well-being throughout the loan process.

* Collaborate with Loan Officers, Underwriters, Loan Analysts, Branch staff, Attorneys, and Servicing teams to ensure timely and compliant processing of mortgage and home equity loans.

* Review and validate data entered by the Loan Officer in all applicable Encompass forms, including Conversation Log, and file Alerts, prior to underwriting submission.

* Effectively manage the loan pipeline to meet defined turnaround times adhering to department procedures, and compliance requirements, including obtaining appraisals, title work, verifications, condo documentation, flood certifications, and collecting administrative fees.

* Maintain accurate and updated loan files in Encompass and nCino by verifying income, assets, credit, and other documentation as required by underwriting throughout the loan life cycle.

* Communicate loan decisions, conditions, and status updates to borrowers, and follow up to collect and review underwriting conditions; sign off on conditions when applicable.

* Prepare and send initial and subsequent disclosures, as well as required borrower notifications (e.g., Appraisal, Notice of Incomplete, CLA letter, Loan Commitment letter, Adverse Action Notices).

* Effectively monitor rate lock expirations and purchase contingency/closing dates to ensure loans close within compliance and required timeframes.

* Notify all parties upon Clear to Close and coordinate with Closing Department to ensure a smooth closing process.

* Participate in daily team huddles and staff meetings to align priorities and promote a collaborative, solution-oriented work environment.

* Communicate effectively with realtors and referral partners to provide timely updates and ensure smooth transaction flow.

* Maintain and manage client databases to ensure accurate records and efficient follow-up processes.

* Generate and send Credit Approval Letters and Pre-Application Worksheets to prospects in a timely and compliant manner.

* Assist with borrower prequalification by analyzing income, reviewing credit, and applying appropriate lending guidelines.

* Accurately input loan applications in nCino and/or Encompass platforms ensuring compliance with internal procedures and regulatory requirements.

* Run automated underwriting systems (DU/LPA) to support loan file readiness.

* Provide comprehensive administrative and operational support to a high-producing Loan Officer, helping drive efficiency and productivity.

* Perform additional duties as required

Qualifications:

* High school education or higher.

* 5 years' experience working in loan processing, and loan officer assistant responsibilities.

* Complete knowledge of Secondary Market, Investor and Bank Portfolio Guidelines.

* Excellent verbal and written communication skills.

* Responsible for meeting and maintaining registration requirements under the Federal SAFE Act.

* Strong computer and analytical skills, along with attention to detail and organizational skills are critical, and ability to learn new technologies.

* Ability to communicate effectively in both English and Spanish is preferred, particularly to better serve our client base.

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities, the inclusion of which would be in conformity with the major purpose of this job.

Location: Hybrid/Waltham, MA Salary Range: $34 - $44.18/hr

The reasonably estimated salary for this role at Cambridge Savings Bank ranges from $34 - $44.18/hr. Cambridge Saving Bank will determine actual compensation for the role based on factors including, but not limited to, the successful candidate's skills, qualifications, and experience. In addition, Cambridge Savings Bank offers a wide range of comprehensive and inclusive employee benefits for full-time roles including healthcare, parental planning, mental health benefits, performance bonus opportunities, a 401(k) plan and match, flexible time off, and others.

About Cambridge Savings Bank:

Cambridge Savings Bank is a full-service banking institution with over $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. To learn more about how we can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370.