• Lot Associate

    Posted: 09/21/2021

    Job Summary

    Performs a wide range of duties related to the processing of residential mortgage loans that are both file and vendor level in nature. Candidate for hire must have a Bachelor’s degree, a minimum of two years of loan processing experience, and the ability to become NMLS licensed. 

     

    Responsibilities & Activities

    The role will be responsible for loan processing functions including:

    • Assumes primary responsibility for the loan file upon receipt.
    • Proactive in communicating status on the loan to both the borrower and the Loan Originator, and managing to the closing date.
    • Finalization and disclosure of loan documents directly to the customer and assist in electronic receipt/signature.
    • Organize and assess all documents provided by the borrower(s), credit report, title report, flood certificate, homeowners insurance, appraisal and any other pertinent documentation that may be required. 
    • Provide documentation to satisfy loan conditions and stipulations. 
    • Ensure regular and timely communication with the borrower(s), Underwriter, Loan Officer, Title Company, Loan Officer, Real Estate Agent and other third parties, as necessary. 
    • Maintain a system to insure all contractual dates including but not limited to mortgage contingency, closing and rate lock expiration are met. 
    • Remain current on all internal policies and product guidelines. 
    • Conduct pipeline review meetings with assigned Loan Officer(s). 
    • Ensure service level agreements (SLA’s) are met.

    Required Competencies

    • Judgment and Decision Making – Detect and report suspicious activity in order to prevent fraudulent claims and comply with federal law.
    • Communication Skills – Provide clear, verbal and written documentation to customers and teammates in order to provide a full and complete file to Underwriting.
    • Time Management – Manage loan pipeline to ensure that deadlines are met on or before due date in order to keep the pipeline flowing properly. 
    • Attention to Detail – Confirm, validate and ensure accuracy of information prior to submitting or completing assignments in order to maintain current on company and federal standards.
    • Microsoft Office Suite – Proficiency navigating and using Outlook, Word and Excel in order to attend virtual meetings, create appointments with clients and record or manipulate customer data.

    Preferred Competencies

    • Mortgage Industry Knowledge – Familiarity and/or exposure to mortgage terminology, procedures and regulations in order to shorten the duration of on the job training. 
    • Resource Management – Accurately assess situations to determine if collaboration with teammates or subject matter experts are required in order to maximize workplace efficiency. 
    • Customer and Personal Service – Exposure to meeting quality standards for services in order to uphold the company’s 98% customer satisfaction rating.

     

    Measurements of Success 

    • Customer Satisfaction Rating of 90% and above.
    • Package Out to Package Received in 10 Calendar Days or less.
    • Complete Application to Underwriting Clear to Close in 21 Days.
    • The ability to create accurate disclosures and re-disclosures. 

    Interested parties may apply here

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