Job Description:
As a Loan Officer Assistant at The Mortgage Processors, you will play a crucial role in supporting the loan origination process from contact to contract. You will assist the Loan Officer (LO) by managing communication, ensuring application completeness, and performing detailed reviews of borrower information. Your primary focus will be on maintaining the accuracy and efficiency of the loan process while providing exceptional service to clients.
Responsibilities
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- File Management:
- Assign files for completion and review by the LO.
- Confirm communication channels with the borrower or LO for each file.
- Fill in missing information on applications, including linking REOs to liabilities and entering rent details.
- Documentation and Review:
- Complete income calculation worksheets.
- Label and upload documents received from the LO or clients.
- Review credit reports for any issues affecting loan approval, such as late payments, foreclosures, and name variations.
- Verify and correct credit data, including SSN variations and fraud alerts.
- Communication:
- Order Verifications of Employment (VOEs) and other necessary documentation.
- Communicate with the LO about any missing critical documents or information.
- Update and maintain accurate notes in CRM, spreadsheets, and the loan operating system.
- Approval and Analysis:
- Complete pre-approval and submission checklists as required by the company.
- Assist the LO in determining which files need to be submitted for underwriting.
- Perform rapid rescores and run automated underwriting systems (DU/LP) to analyze findings.
- Pre-Contract Duties:
- Ensure pre-approval letters, at the maximum approved amount, are delivered to the LO within 24 hours.
- Notify the LO of any credit issues, guideline concerns, or income variations.
- At Contract:
- Review client files and request updated documents as needed.
- Update loan applications to reflect contract or refinance terms.
- Confirm approval through AUS and check for possible appraisal waivers.
- Prepare files for submission to the Processor and provide an overview, highlighting any potential pitfalls.
Qualifications:
- Experience in the mortgage industry, particularly in loan processing or assisting.
- Strong understanding of mortgage documentation and the loan approval process.
- Excellent attention to detail and organizational skills.
- Ability to communicate effectively with clients and team members.
- Proficient in using CRM systems, spreadsheets, and loan operating software.
- 3 to 5 Years of loan processing experience required
Salary: $60,000/Year