Position Summary: The Loan Officer Assistant (LOA) works directly with and supports the loan origination staff (loan officers, sales managers etc.). By working collaboratively with the loan origination staff and processing team, a successful LOA has current product knowledge of loan programs and will be able to communicate loan requirements with customers, processors and loan officers.
Duties and Responsibilities:
- Communicates with the customer (borrower), real estate agents and escrows at the start of the transaction
- Collects customer documentation necessary to complete the loan transaction, such as income documentation, asset statements and initial disclosures documents.
- Assists loan originators with preapprovals and loan structuring.
- Assists loan originators with loan pricing options/support and managing lock expiration dates.
- Updates all parties with status of loan transaction as necessary.
- Ordering of standard loan requirements and verifications such as, title, escrow, appraisal, verification of employments, verification of assets etc.
- Other duties may be assigned.
- Demonstrate proficient product knowledge of FHA, VA, Conventional and other loan programs such as Home Equity Lines of Credit, 2nd Mortgages,
- Ability to analyze tax returns and accurately calculate income for all types of borrowers.
- Ability to maintain a high level of professionalism, customer service, and communication with customer, processor and LO
- Proficient with Encompass
- Understanding of compliance regulations and investor guidelines.
- Has knowledge of commonly used terminology, concepts and practices and procedures within the mortgage industry.
- Ability to meet time deadlines while working under pressure.
- Ability to effectively handle simultaneous tasks and projects in a fast paced environment.
- Able to effectively and efficiently work independently or as a member of a team.
- Must be able to work a flexible schedule that may include some evening and weekend hours.
- High school diploma or general education degree (GED);
- 1-2 years’ experience working with mortgage loans preferred;
- Recent customer service and/or sales experience
Other Duties: This job may require frequent sitting or standing for long periods of time. This job profile is not intended to be an all-inclusive list of job duties and responsibilities, as one may perform additional related duties as assigned in order to meet the needs of the organization.