Mortgage Loan Officer Assistant
Act in the support of our successful Loan Officers by ensuring loan files are complete, ready for processing, underwriting and closure. This is A GREAT START for someone looking to become an originator in the future. You learn all aspects of being an Originator as well as exposed to processing opportunities.
Mortgage Banking experience i(n some capacity) is a must.Excellent client service and communication skills necessary.
We are looking to fill multiple positions in Chicago and the Suburbs--the ability to work remotely or from home in most cases.
Pre-Qualifications: Assists the Loan Officer in the pre-qualification process for potential borrowers including but not limited to: Conducts an applicant interview and full completion of the 1003 loan application, completion, and client review of the CD and Closing cost worksheet, obtains and reviews in-file credit reports, and recommendations and/or provides advice on loan program eligibility. Provides presentation materials to borrowers of loan program options
Reviews Borrower Eligibility: Reviews and analyzes requested income and asset documentation to determine prospects' ability to repay. Reviews all additional documentation needed to determine prospect also meets product guidelines prior to issuance of a pre-qualification letter
Coordinates Loan Package Standards: Ensure each file meets file quality and completion standards. Submit the file to Disclosure team within 24 hours from complete loan package
Collects Missing Documentation: Performs necessary follow-up with the borrower and/or the loan referral source (realtor, builder, etc.) to ensure the timely receipt of any missing documentation needed to meet file submission standards required by the loan processing department. Reviews and completes upload of all documentation into the Blitz-docs system and re-run DU/LP to ensure borrower qualifications
Facilitates Communications - Managing Expectations and File Timelines: Maintain communication with the borrower and the loan referral source regarding any change of loan status as it pertains to documentation needs in cooperation with the assigned loan processor, milestone touch-points (Processing, Underwriting, Approval, Clear to close), and milestone to ECD (Estimated Closing Date) in the effort to properly manage expectations in meeting loan commitment and closing dates
Responsible for staying up-to-date on federal, state, and local laws and regulations; FNMA; FHLMC; FHA; VA and Non-conforming products (Jumbo) as they pertain to the mortgage lending industry
Provides communication and pipeline review on behalf of the Loan Officer: Acts as a liaison between the Loan officer and Processor for all matters related to each file. Conducts daily Brief and Debrief meetings/calls with designated MLO to review full pipeline and set daily strategy/initiatives
Provides communication and pipeline review on behalf of the Loan Processor: Conducts a weekly or as needed pipeline meeting/call to identify file progress or issues that need to be addressed
Coordinates updates to borrowers and partners - Conducts weekly calls to the borrower and/or referral partners to provide updates of the loan status and solicit referrals to realtors partners
Represents the company in a professional and enthusiastic manner: by providing an exceptional level of customer service, supporting the mission statement, and adhering to our core values in all functions of their job responsibilities along with interaction with internal and external
Maintains knowledge of product manuals and all company programs and their requirements
Maintains knowledge of up-to-date federal, state, and local laws and regulations; FNMA; FHLMC; FHA; VA and Non-conforming products (Jumbo) as they pertain to the mortgage lending industry
Reports to work on a daily and timely basis-work from home or from office based on circumstances.
Marketing and CRM experience a plus but not necessary
Federal and state licensed as a plus
6 months to 1 year of current mortgage lending or related sales experience required
High School diploma or equivalency degree
Encompass experience a plus
Solid knowledge and understanding of customer service and interpersonal best practices
Ability to work overtime as/if required
Demonstrated experience reporting, analyzing, interpreting, and critical thinking
Demonstrated experience with analytical, critical thinking, problem-solving, and making solid business decisions
Demonstrated experience producing accurate and detailed work on multiple projects under time pressure
Demonstrated experience working in a fast-paced and changing environment
Demonstrated experience with attention to detail, time management, written and oral communication, multi-tasking, and working in a team atmosphere adhering to tight deadlines
Demonstrated experience with MS Office software products
Demonstrated experience with high volume data entry
Ability to work in a team environment
Ability to be a self-starter
Fairway Independent Mortgage is rated #1 best mortgage company to work for 6 years in a row! This is an outstanding chance to work for a well-established company with a supportive culture. Compensation is commensurate with your skills.