Mortgage Loan Partner/Loan Processor (Murfreesboro, TN)
*Excellent opportunity to partner with a high producing Loan Officer in the Murfreesboro, TN Market! Excellent benefits package including medical, dental, vision, paid holidays, paid time off and 401K!
About this Position:
The Loan Partner/Processor 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. Every hour you work should save the Loan Officer one hour of time.
Three major characteristics we are looking for are (1) a RECENT knowledge of current mortgage industry regulations and requirements for processing a file and problem solve. (2) A STRONG technical background and the ability to navigate computer software well. (3) Knowledge of the processing requirements of different lenders, or the ability to learn on your own in a prompt fashion. The ideal candidate will have all three of these characteristics but at least two out of three for all other qualified candidates.
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 to include discussing, rates, terms and/or financial options.
- Attends all functions with Loan Officer when required.
- Complete LP 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 affect 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 to Mother Ship.
- Clears any conditions that require communication with the clients.
- Communicates with your team all information pertaining to client and/or property to meet file expectations.
- 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.
- Be able to quote interest rates and lock loans.
- Solve escrow issues without involving loan officer.
- 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 LE's 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 callbacks to prospects that need a phone consult prior to a face to face meeting.
- Face to face meetings with clients when Loan Officer cannot attend.
- Re disclose all new loans when there is a change of circumstance.
- Attend loan closings if Loan Officer cannot.
- Continue to assume responsibilities and help the team grow.
- Obtain 3 current client referrals that go to closing each month.
- 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, and major Origination systems.
- Must have excellent verbal and written communication skills.
- Must have a positive attitude.
- Must be dependable, self-motivated and require minimal supervision.
- Proficient with major correspondent and wholesale channels and their guidelines, including their websites and pricing engines.
- Minimum two (2) years of mortgage processing, underwriting, originating or combination of all aspects.
Please No Phone Calls and No Walk-ins. Thank you!