New
REMOTE Senior Loan Coordinator Opportunity! For this
direct hire/ full-time position, we are seeking an
experienced Loan Processor or Loan Officer (with at least three years of experience) who is looking to become a Sr. Loan Coordinator. The ideal candidate is likely a processor first by training but who also originates loans.
The ideal candidate will act as both Loan Officer and Processor in the loan transaction-working closely with the customer(s), operations management, underwriting and closing teams to facilitate a customer focused, efficient, and exceptional mortgage experience for the applicant.
Senior Loan Coordinator Responsibilities
Processor Functions
- Process and order third party and vendor services applicable to the loan
- Process FHA, VA, Conventional and other loan programs such as USDA, Home Equity Lines and Loans, Home Improvement loans, and Down Payment and Construction loans
- Obtain required loan documentation from borrower(s) as applicable
- Request, review and verify all loan documents such as income, credit, appraisal and title insurance-validate complete and accurate prior to submission to underwriting
- Navigate client exception (e.g., credit and collateral) processes, ensuring appropriate and clear documentation
- Manage SLA’s and regulatory deadlines
- Submit full loan packages for underwriting review, communicate loan decision and remaining conditions to borrower
- Facilitate timely collection and review of conditions
- Manage and monitor pipeline by documenting at a minimum loan status, lock expiration and conversation log
- Note: Loan Coordinator will not have underwriting authority
Loan Officer Functions
- Manage and follow up on loan applications and inquiries from lender clients
- Educate the borrower(s) on the loan process
- Interview the customer/borrower related to their loan application
- Understand and communicate origination costs/fees to the consumer
- Expedite completion of an application
- Facilitate pre-approvals (pre-qualifications)
- Run credit and analyze the applicant(s) financial status and credit history
- Structure and restructure the loan as needed; explain options to applicants
- Facilitate disclosure review and where applicable, signature
- Collect appraisal and/or application fees at appropriate points in the loan process
- Facilitate rate lock for applicant(s)
- Facilitate, as applicable, change of circumstance redisclosures and signatures
- Communicate adverse loan decisions and/or counteroffers
- Must be familiar with DO/DU/LPA
- Work directly with consumer to obtain documentation to ensure timely turn times and meet SLA’s
- Calculate income (all income types)
- Ensure information in LOS is accurate and updated in a timely manner
- Review files for completeness and ensure required items are obtained quickly
Senior Loan Coordinator Qualifications
- REQUIRED – Minimum7-10 years processing or 5-7 years loan officer experience in an origination production environment
- NMLS state licenses or federal registration
- Experience with Conforming, Non-QM, Jumbo and FHA and VA loans
- Strong working knowledge of applicable regulatory requirements
- Strong working knowledge of mortgage technology tools
- Strong working knowledge of DO/DU/LPA
- Strong working knowledge of Microsoft Office suite of products preferred
EDUCATION
Bachelor’s degree preferred. Will consider high school or equivalent with deep mortgage background or experience.
Bilingual in Spanish a plus
SALARY RANGE:
Salary range for this role is $60,000-80,000 per year
OTHER COMPENSATION:
Competitive sign-on bonus for this role
BENEFITS:
The client offers a competitive benefits package to all full-time employees:
- Medical, employer covers 90% of premiums
- Dental, employer covers 90% of premiums
- Vision, employer covers 90% of premiums
- 401k with employer match
- Unlimited Personal Time Off
- Short-Term & Long-Term Disability
- Paid Parental Leave
- Bonus programs available for eligible employees