Mortgage Loan Originator Assistant

Description:

The Mortgage Loan Officer Assistant provides essential support to Mortgage Loan Officers by managing administrative tasks, coordinating loan documentation, and ensuring compliance with industry regulations. This role plays a key part in streamlining the mortgage loan process by maintaining strong communication with clients, lenders, and other stakeholders. We are looking for a dynamic individual motivated for sales and is looking to transition into a Mortgage Loan Originator position!

Key Responsibilities:

· The MLOA (AKA: Loan Partner), will be paired, or assigned to a specific MLO or team of MLO’s.

· Collectively, the Loan Partner and origination team will collaborate and work together to provide administrative support and superior customer service standards throughout the mortgage origination process. Objective outcomes of this position include:

Accurately prequalifying home loan applications:

• Contact new applications within 24 hours of assignment.
• Analyze 1003 data and request necessary documentation.
• Examine loan scenario options with applicant(s).
• Communicate with Realtor referral sources.
• Rely on internal support team (underwriting, processing management, processor) for assistance with prequalifying (as needed).
• Issue quality pre-approval letters.

During the Pre-approval Stage:

• Communicate pre-approval parameters to applicant(s).
• Provide supplemental pre-approval documents if needed (program addendums).
• Notify Realtor referral sources immediately after issuing pre-approval terms.
• Identify any “red flags” or potential challenges to the loan manufacturing process, notifying LO partner and processor.
• Provide pre-approval outreach on an ongoing, regular basis.

Pipeline Management:

• Provide “red-carpet” treatment for newly received contracts.
• Prioritize loan level issues that may arise.
• Attend weekly branch meetings to review loans and milestone achievements.
• Deliver Tuesday borrower update calls.
• Collaborate with assigned processor, daily.
• Oversee contract contingencies and involve all applicable parties within 24 hours.
• Review Closing Disclosures for accuracy against Loan Estimates.
• Perform pre-closing calls to review numbers and transaction details.
• Within 24 hours of closing, make congratulatory calls to applicant(s) and Realtor referrals. Provide post-closing advice and direction as needed.

· Work cohesively with the MLO assignments (origination team), applicants, processors, underwriters and applicable third-party resources.

· Achieve successful closing delivery on the agreed-upon estimated closing date (ECD).

· Consistently exceed borrower and referral partner expectations.

· Stay informed of agency loan details, investor changes, guideline modifications, etc.

· Learn Non-QM loan opportunities to help expand pre-approval options for applicant(s), that may not qualify for traditional agency products.

· Provide project management and event support as requested.

· Satisfactorily handle all internal CE requirements, as assigned by HR.

· If needed, provide minor processing support.

· Other duties as assigned.

*This position has the possibility to promote to a Mortgage Loan Officer

Requirements:

Working Conditions:

• Standard office environment.
• Full-time position, Monday through Friday, with flexibility required to accommodate customers schedules outside of normal business hours.
• Flexibility to work some evenings or weekends based on borrower availability.
• Ability to represent the bank professionally at networking and community events.
• Prolonged periods sitting at a desk and working on a computer.
• Must be able to lift up to 15 pounds at times.
• Professional attire required.

Qualification:

• High school diploma or equivalent required; associate or bachelor's degree preferred.
• 2+ years of mortgage or banking experience preferred.
• Active NMLS registration or the ability to obtain and active NMLS registration with the ability to maintain SAFE Act compliance.
• Strong understanding of residential mortgage products and the loan process.
• Excellent and professional interpersonal, communication, and problem-solving skills.
• Ability to work independently, manage multiple loan files, and prioritize deadlines.
• Exhibit proficient technical skills with all company applications: MS Office Suite, Encompass, Loanpass, ListReports, MBS Hwy, CRM, Floify, DU/LP, GUS, and all future changes or additions to the company tech stack.