Job Description
Loan Coordinator - Loan Processor
Starting pay ranges between $20-$23/hr depending on experience with monthly bonuses based on production
This in office position can be based out of either Summit Funding's Centralia WA or Eugene OR offices.
The Loan Coordinator - Processor position contributes to the mortgage loan process by being a key contact for both borrowers and internal partners within Summit Funding to manage a pipeline of loans from contract to close.
What the Loan Coordinator-Processor is Responsible for:
- Receive loan applications, obtain credit information for applicants, and collect all needed documentation for loans.
- Documentation to include: Verifications of Deposit (VOD), Verifications of Employment (VOE), appraisal, title, etc. as appropriate.
- Answer all borrower questions or refer to Loan Officer as needed.
- Verify loans are complete and submit to Underwriting based on Investor and/or Automated Underwriting System (AUS) requirements within 24 hours of receipt of documents.
- Clear any conditions that require communication to title companies, appraiser, employers, surveyors, etc.
- Solve escrow issues without involving the Loan Officer when possible.
- Collect all necessary items needed to prepare the Closing Disclosure (CD) and ensure timely drawing and delivery of the CD in order to meet the expected close of escrow.
- Ensure closing instructions and documents have been released to title 72 hours before closing, and a final settlement statement is issued to the Loan Officer or team 48 hours prior to closing.
- Review all closing statements and compare to signed Good Faith Estimate (GFE) before signings, and correct discrepancies where needed.
- Meet with clients to sign loan documents.
- Send out correspondence including thank you cards, closing cost calculations, etc.
- Maintain a detailed conversation log for each file.