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Loan Officer Assistant
Job Description
This role is considered a starting position for the sales force. This position is primarily a learning position where future Loan Officers can hone their skill. The main duty of this person is to take the extraneous work off of the Sr. Loan Officer, freeing them up to generate more sales. This person will pull and analyze research regarding the property, credit and other aspects of the file.
Purpose:
Support one or more high producing Loan Officers and serve as a contact point for Borrower and Operations with the loan origination process. Assist the Loan Officer(s) in documenting and preparing mortgage loan applications/files to meet strict deadlines and compliance. Resolve issues/difficulties across multiple departments while maintaining a high level of customer service to internal and external customers while meeting their expectations.
Essential Functions/Duties:
- Prepares mortgage loan file by reviewing loan application, clarifying or obtaining additional information as necessary.
- Preliminary research needed on the loan to help determine mortgage eligibility.
- Inputs loan application information.
- Prepares all pre-approvals for Loan Officer to send to the Borrower.
- Facilitates mortgage loan applications process by interfacing with Borrower in supplementing additional needed data for completed applications.
- Identifies mortgage loan application and documents problems by highlighting deficiencies and notifying the Loan Officer – orders verifications, appraisal, title and survey. Runs credit report as requested.
- Work closely with processors, closers, underwriters and Loan Officers.
- Assists in coordinating closing appointments in conjunction with the closing staff.
- Generates documents and maintains logs to ensure complete and accurate compliance with RESPA, Regulation Z, Fair Lending, HMDA, Bank Secrecy Act and other regulations regarding the mortgage application process.
- Keeps information accessible by sorting, organizing and filing documents and maintaining compliance standards.
- Understands and complies with mortgage industry regulations, including the Fair Credit Reporting Act, the Real Estate Settlement Procedures Act, the Community Reinvestment Act, Truth-in-Lending laws, etc.
- Protect Company’s reputation and image by maintaining Borrower confidence, deliver a high level of customer service and by keeping mortgage loan information confidential.
- Miscellaneous duties as assigned.
- Honesty and integrity in dealing with others and accountability in standing behind your work; initiative and self-motivation in serving the client, getting the job completed thoroughly and on time; good written and oral communication skills, including the ability to listen to others and understand their needs; confidence in yourself and enthusiasm regarding your service. Organizational skills in having the ability to prioritize and manage numerous tasks at the same time.
Essential Education & Experience:
- MUST SPEAK SPANISH/HAVE NMLS LICENSE
- High School Diploma or GED equivalent required; some college preferred; College degree desired.
- Intermediate computer skills (MS Office, Mortgage Loan Applications/Software)
- Ability to multi-task and operate in a high-volume, fast-paced environment.
- Ability to collaborate with employees, Loan Officers and management to resolve issues.
- Ability to set priorities and demonstrate thoroughness and accuracy.
- Flexibility to adapt to change
- Critical thinking skills
- Positive attitude
- Business ethics
- Exceptional customer service skills, written and verbal communication skills including the ability to communicate professionally in front of groups. The ability to demonstrate patience, control, flexibility and maintain quality and high productivity when dealing with customers and changing work demand.
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