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Loan Production Partner - Residential Mortgage

Fairway Independent Mortgage Corp

Loan Production Partner - Residential Mortgage

Chicago, IL
Paid
  • Responsibilities

    This position supports Loan Officer by ensuring loan files are complete and structured for proper processing and underwriting. Responsibilities: • Pre-Qualifications: Assists the Loan Officer in the pre-qualification process for potential borrowers including but not limited to: Conducts an applicant interview and full completion of the 1003 loan application, completion, and client review of the CD and Closing cost worksheet, obtains and reviews in-file credit reports, and recommendations and/or provides advice on loan program eligibility. Provides presentation materials to borrowers of loan program options. • Reviews Borrower Eligibility: Reviews and analyzes requested income and asset documentation to determine prospects ability to repay. Reviews all additional documentation needed to determine prospect also meets product guidelines prior to issuance of a pre-qualification letter. • Coordinates Loan Package Standards: Ensure each file meets file quality and completion standards. Submit file to Disclosure team within 24 hours from complete loan package. • Collects Missing Documentation: Performs necessary follow-up with the borrower and/or the loan referral source (realtor, builder, etc.) to ensure the timely receipt of any missing documentation needed to meet file submission standards required by the loan processing department. Reviews and completes upload of all documentation into the Blitz-docs system and re-run DU/LP to ensure borrower qualifications. • Facilitates Communications - Managing Expectations and File Timelines: Maintain communication with the borrower and the loan referral source regarding any change of loan status as it pertains to documentation needs in cooperation with the assigned loan processor, milestone touch-points (Processing, Underwriting, Approval, Clear to close), and milestone to ECD (Estimated Closing Date) in the effort to properly manage expectations in meeting loan commitment and closing dates. • Responsible for staying up-to-date on federal, state, and local laws and regulations; FNMA; FHLMC; FHA; VA and Non-conforming products (Jumbo) as they pertain to the mortgage lending industry. • Provides communication and pipeline review on behalf of the Loan Officer: Acts as a liaison between the Loan officer and Processor for all matters related to each file. Conducts a daily Brief and Debrief meetings/calls with designated MLO to review full pipeline and set daily strategy/initiatives. • Provides communication and pipeline review on behalf of the Loan Processor: Conducts a weekly or as needed pipeline meeting/call to identify file progress or issues that need to be addressed. • Coordinates updates to borrowers and partners - Conducts weekly calls to borrower and/or referral partners to provide updates of the loan status and solicit referrals to realtors partners. • Represents the company in a professional and enthusiastic manner: by providing an exceptional level of customer service, supporting the mission statement and adhering to our core values in all functions of their job responsibilities along with interaction with internal and external. • Maintains knowledge of product manuals and all company programs and their requirements. • Maintains knowledge of up-to-date federal, state, and local laws and regulations; FNMA; FHLMC; FHA; VA and Non-conforming products (Jumbo) as they pertain to the mortgage lending industry. • Reports to work on a daily and timely basis. Qualifications: • Must be federally and State licensed as a Mortgage Loan Originator in the states where business will be conducted or will be licensed within 30 days from hire date. • 3 years current mortgage lending or related sales experienced required. • High School diploma or equivalency degree. • Understands the Operations policies and procedures. • Solid knowledge and understanding of current on Laws and regulations. • Solid knowledge and understanding of customer service and interpersonal best practices. • Solid knowledge and understanding of Encompass. • Ability to work overtime as/if required. • Demonstrated experience reporting, analyzing, interpreting, and critical thinking. • Demonstrated experience with analytical, critical thinking, problem solving, and making solid business decisions. • Demonstrated experience producing accurate and detailed work on multiple projects under time pressure. • Demonstrated experience working in a fast paced and changing environment. • Demonstrated experience with attention to detail, time management, written and oral communication, multi-tasking, and working in a team atmosphere adhering to tight deadlines. • Demonstrated experience with MS Office software products. • Demonstrated experience with high volume data entry. Compensation: $50,000 - $70,000 yearly

    • Pre-Qualifications: Assists the Loan Officer in the pre-qualification process for potential borrowers including but not limited to: Conducts an applicant interview and full completion of the 1003 loan application, completion, and client review of the CD and Closing cost worksheet, obtains and reviews in-file credit reports, and recommendations and/or provides advice on loan program eligibility. Provides presentation materials to borrowers of loan program options. • Reviews Borrower Eligibility: Reviews and analyzes requested income and asset documentation to determine prospects ability to repay. Reviews all additional documentation needed to determine prospect also meets product guidelines prior to issuance of a pre-qualification letter. • Coordinates Loan Package Standards: Ensure each file meets file quality and completion standards. Submit file to Disclosure team within 24 hours from complete loan package. • Collects Missing Documentation: Performs necessary follow-up with the borrower and/or the loan referral source (realtor, builder, etc.) to ensure the timely receipt of any missing documentation needed to meet file submission standards required by the loan processing department. Reviews and completes upload of all documentation into the Blitz-docs system and re-run DU/LP to ensure borrower qualifications. • Facilitates Communications - Managing Expectations and File Timelines: Maintain communication with the borrower and the loan referral source regarding any change of loan status as it pertains to documentation needs in cooperation with the assigned loan processor, milestone touch-points (Processing, Underwriting, Approval, Clear to close), and milestone to ECD (Estimated Closing Date) in the effort to properly manage expectations in meeting loan commitment and closing dates. • Responsible for staying up-to-date on federal, state, and local laws and regulations; FNMA; FHLMC; FHA; VA and Non-conforming products (Jumbo) as they pertain to the mortgage lending industry. • Provides communication and pipeline review on behalf of the Loan Officer: Acts as a liaison between the Loan officer and Processor for all matters related to each file. Conducts a daily Brief and Debrief meetings/calls with designated MLO to review full pipeline and set daily strategy/initiatives. • Provides communication and pipeline review on behalf of the Loan Processor: Conducts a weekly or as needed pipeline meeting/call to identify file progress or issues that need to be addressed. • Coordinates updates to borrowers and partners - Conducts weekly calls to borrower and/or referral partners to provide updates of the loan status and solicit referrals to realtors partners. • Represents the company in a professional and enthusiastic manner: by providing an exceptional level of customer service, supporting the mission statement and adhering to our core values in all functions of their job responsibilities along with interaction with internal and external. • Maintains knowledge of product manuals and all company programs and their requirements. • Maintains knowledge of up-to-date federal, state, and local laws and regulations; FNMA; FHLMC; FHA; VA and Non-conforming products (Jumbo) as they pertain to the mortgage lending industry. • Reports to work on a daily and timely basis.