Licensed Loan Officer Assistant

Position: Licensed Loan Officer Assistant

Location: U.S. Remote PST, MST, CST

Pay: $28.85 - $33.65/hr DOE

Bonus: $100 per file after five closings

Position Summary:

The Mortgage Loan Officer Assistant is responsible for accurately setting up new purchase and refinance applications, issuing pre-approval letters, and overseeing the success of every loan from contract to close.

The Mortgage Loan Officer Assistant will work cohesively with the Borrower(s), the team LP1 (if any), the Loan Processors, the Underwriter, and any Third Parties to close 95% of all loans on time while providing an outstanding experience application-to-close.

This position requires time and self-management, precise verbal and written communication skills, and a working knowledge of all major investors’ guidelines. The analysis of cash, credit, and income is vital for this position.

Essential Duties and Responsibilities

Responsibilities

3 Top Duties w/Measurements:

Set-Ups:

• Contact all borrower(s) within 24 hours after the LO appointment
• Request and review the cash, credit, and income qualifications of all borrowers

Pre-Approve:

• Accurately pre-approve all borrowers within 24-48 hours of application
• Handle any and all payment scenario requests other than initial consultation
• Proactively contact all preapproved buyers accordingly
• Communicate effectively with all respective Realtor partners

Contract-to-Close:

• Accurately onboard all newly received contracts for Rate Lock consultation
• Prepare and send initial eDisclosures within a required 24–48 hour timeframe
• Outstanding Borrower Tuesday Updates, Pre-Closing and Funding Calls (if applicable)
• 95% of all loans cleared to close prior or equal to the Loan Availability Deadline stated in the contract
• Aim for 95% of loans to be cleared to close within 14 days of application when feasible
• 95% of all loans closed on time with a mandatory “daily gauge check” to address choke points
• 95% of all loan problems are handled before escalating to LO by having Tuesday pipeline calls

Essential Duties of this Position:

Set-Ups:

• Contact all newly received applications within 24 hours of being assigned by the LO
• Fully review 1003 with the Borrower(s) and request any other specific documents for review
• All efforts and avenues must be exhausted before turning down a pre-approval request
• Continue to update the respective Realtor partner on your progress (when needed)
• Understand and research all investor guidelines and stay up to date in all program changes

Pre-Approve:

• Effectively communicate all the pre-approval parameters established to the Borrower(s)
• Prepare and send the pre-approval letter and Pre-Approval RX
• Provide a courtesy phone call to the referring Realtor within 24 hours of issuance
• Rush any pre-approval requests when needed
• Communicate any red flags or major potential issues to the LO or Team Captain (if applicable) and Realtor partner

Contract-to-Close:

• Expeditiously onboard any newly received contracts and prepare for the LO consultation call
• Complete a “daily gauge check” each morning to determine any potential choke points
• Attend a weekly branch pipeline meeting to ensure all required time-to-task objectives are met
• Perform outstanding Tuesday Update phone calls to all borrowers
• Communicate internally with the processing team to fully understand all required conditions before contacting any borrower(s) or third parties
• Proactively contact borrower(s), Attorney, and Real Estate Agent 24 hours before any mortgage contingency expirations
• Proactively contact Real Estate Agent to enquire about any property inspection resolutions that we need to know about the day after the contract resolution deadline
• Review all Closing Disclosures and compare them to original loan estimates
• Perform a pre-closing phone call 48 hours before closing
• Perform a congratulatory funding call on all loans
• Answer any post-closing questions
• Be available after hours for urgent borrower questions (email access on mobile device)
• Consistently exceed expectations of all borrowers and third parties

Other:

• Email Management: Organize emails using Delete, Defer, Do, Delegate
• Smile on every call and sustain a high level of professionalism in speech and email

• Act as a concierge between borrowers and partners regarding program options

Desired Job Competencies:

• Must maintain an NMLS license
• Must have a high school diploma or equivalent
• Must be able to work 40 hours per week, minimum
• Must have 5+ years of industry experience
• Must be proficient in DU/DO, LP, and major LOS systems (i.e., Encompass)
• Must be proficient in Microsoft Office, Outlook
• Must have excellent verbal and written communication
• Must be dependable, self-motivated, and require minimal supervision
• Must be detail-oriented and able to meet deadlines
• Must be able to organize and prioritize using time blocking
• Must collaborate respectfully at Branch and Corporate levels
• Must complete all required compliance training
• Remote work is available

Initiative & Assertiveness:

• Stay proactive: Identify meaningful ways to add value without waiting for direction
• Own the next step: Don’t wait to be told - fill gaps and move tasks forward
• Be Assertive:
• Follow up when someone isn’t responding
• Escalate anything that looks off
• Suggest process improvements
• Monitor tech errors and connect with the correct staff

This job description is not exhaustive and may be updated at management’s discretion.

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.

Work Authorization: Must be able to verify identity and employment eligibility to work in the U.S.

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Must be able to lift up to ten pounds. Primary functions require sufficient physical ability and mobility to work in an office setting; to stand or sit for prolonged periods of time; to occasionally stoop, bend, kneel, crouch, reach, and twist; to lift, carry, push, and/or pull light to moderate amounts of weight; to operate office equipment requiring repetitive hand movement and fine coordination including use of a keyboard; and to verbally communicate to exchange information. VISION: See in the normal visual range with or without correction. HEARING: Hear in the normal audio range with or without correction.

[EOE/M/F/D/V. Drug-free workplace.]

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