Loan Officer Assistant - US Mortgage

Loan Officer Assistant - US Mortgage

Application Deadline: 31 January 2025

Department: Loan Teams

Employment Type: Full Time

Location: Branch Operations

Compensation: ₱40,000 - ₱50,000 / month

Description

*Only those with 2+ years of Loan Officer Assistant Experience will get an interview. Once you apply you will be sent a video interview link. You will only get an in-person interview if you complete the video interview task first*

Encompass experience preferred.

The loan officer assistant is responsible for providing administrative support to loan officers throughout the loan application and approval process. They assist clients in completing loan applications, gather necessary documents, communicate with customers, and ensure compliance with regulatory requirements. The loan officer assistant plays a crucial role in maintaining smooth operations and providing excellent customer service.

Key Responsibilities

• Review Lender conditions with L.O. and gather necessary items from clients 
• Track the loan process from submission to closing and ensure deadlines are met
• Keep track of and update pipeline dates
• Act as a hub for all team communication (clients, third parties, internal)
• Database management - creates and maintains records
• Requests borrower-related conditions on approval 
• Responsible for all Blend notifications 
• Manage new lead and preapproval pipeline to increase engagement/follow-ups
• Assists processing team with order outs, loanbeam, fastrack submissions, file scrubs

Skills, Knowledge, and Expertise

• Encompass experience preferred.
• Customer Assistance: You will assist customers in completing loan applications and gather necessary documents such as income verification, tax returns, bank statements, and credit reports. You may also answer customer inquiries and provide information about loan products and services.
• Application Processing: You will review loan applications for completeness and accuracy. This involves verifying information provided by customers, ensuring all required documents are included, and conducting preliminary assessments of creditworthiness.
• Documentation and Record Keeping: You will be responsible for organizing and maintaining loan files, ensuring that all documents are properly filed and recorded. This includes tracking application statuses, updating loan information, and preparing loan documents for underwriting.
• Communication and Follow-up: You will communicate with customers, lenders, and other stakeholders throughout the loan process to provide updates, request additional information, and address any concerns. Strong verbal and written communication skills are essential for this role.  You must have experience w/ order outs and calling third parties 
• Loan Processing Support: You will assist loan officers in processing loan applications by preparing files for underwriting, gathering necessary documentation, and ensuring compliance with regulatory requirements. This may involve performing initial credit checks, income calculations, and collateral evaluations.
• Compliance and Regulatory Requirements: You will stay updated on relevant lending regulations and guidelines to ensure compliance with legal and industry requirements. This includes following anti-money laundering (AML) protocols, fair lending practices, and data protection regulations.
• Administrative Tasks: You may be responsible for various administrative tasks, such as scheduling appointments, maintaining calendars, and preparing reports. Additionally, you may help with loan closing activities, including coordinating with title companies, attorneys, and other parties involved in the process.
• Relationship Management: You will establish and maintain positive relationships with customers, providing excellent customer service throughout the loan process. Building rapport and ensuring customer satisfaction are crucial for fostering repeat business and referrals.
• Continuous Learning: You should stay updated on industry trends, loan products, and underwriting guidelines. This involves attending training sessions, workshops, and keeping abreast of changes in lending practices and regulations.

It's important to note that specific responsibilities may vary depending on the organization you work for and the loan officer's preferences.

Benefits

• Above market salary
• HMO for principal and two dependents
• Government-mandated benefits
• Performance-based Incentives
• Quarterly Company Events
• In-depth training for career growth
• Great Company Culture and HR experience
• 1,000 PHP De Minimis
• Equipment and software provided

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