The Loan Officer Assistant (also referred to as the Loan Partner 2) will oversee the origination, file management, communication, and revenue of the Loan Officer and Team. This position will be in direct communication with Clients, Realtors, Builders, and Business Partners. This position requires time management, precise verbal and written communication and have working knowledge of all major investors and their guidelines.
Top 3 responsibilities and how you will be measured:
1) Collect all Loan Conditions.
Measurement: 90% of purchase loans close on time
2) Manage 80% of pipeline issues
Measurement: Loan Consultant spends 5+ hours per day taking loan applications or meeting referral sources in person
3) Perform all update calls
Measurement: Loan surveys come back with 8+ average scores
Essential Duties of the Position:
- Prequalifies clients.
- Attends all functions with Loan Officer when required.
- Complete LPII checklist on all files and adhere to company time frames.
- Call and obtain conditions from borrowers and Realtors.
- Meets with clients to sign Loan Application and Disclosures.
- With new contracts, facilitate the introduction to Realtors via e-mail and facilitate a call from the Loan Officer to ensure positive customer service for our new clients.
- All files turned into processing within 24 hours of meeting with the borrower.
- Understands and research’s all investor guidelines and is up to date in any and all program changes that effect the processing or originating of loans in pipeline.
- Submits complete files to processing based on Investor and/or AUS requirements to get ready for submission.
- Clears any conditions that require communication to the clients.
- Communicates with your team all information pertaining to client and/or property to meet file expectations.
Essential Duties continued:
- Communicates loan approval by sending pre-approval/commitment letters to all parties involved in transaction.
- Responsible for once a week status calls to all parties involved in transaction (Clients, Realtors, Builder, etc.).
- Tracks and manages new leads and follows up on referral business.
- Sends out correspondence – Thank you cards, Closing Cost Calculators, etc.
- Coordinate Closing details with Client – Final Payment, rate, Cash to Close, etc.
- Assist the Loan Officer with other administrative and/or sales duties as needed.
- Solve escrow issues.
- Consistently exceed borrower expectations and Realtor/Builder expectations.
- Set up file using the loan officer checklist and turn into processing.
- Review all closing statements and compare to signed GFE before signings and correct discrepancies.
- Assist LPI with putting scenarios together for prospective clients (researching client scenarios with underwriting and investor guidelines).
- Assist Loan Officer with call backs to prospects that need a phone consult prior to a face to face meeting.
- Re disclose all new loans when there is a change of circumstance.
- Attend all loan reviews.
- High school diploma or equivalent.
- Must be able to work 40 hours per week and overtime as required.
- Must be proficient in Word, Excel and Outlook applications.
- Proficient in DU/DO, LP, & major Origination systems.
- Must have excellent verbal and written communication skills.
While performing the duties of this job, a person is regularly sitting in a normal office environment at a desk using a computer, phone, fax and copy machine. This person may occasionally need to lift up to 20 pounds.
Comply with all corporate policies and procedures.