Mortgage Loan Processor Loan Coordinator

Loan Coordinator - Loan Processor

Starting pay ranges between $18-$29/hr depending on experience plus bonuses based on production

This position requires the ability to work a hybrid schedule in our downtown Chicago office but work from home opportunities will be available.

The Mortgage 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.

Qualifications :

• Minimum of 1 year of recent experience in mortgage preferably in processing
• Working knowledge of loan program guidelines including conventional jumbo condo DPA (IDHA) government loan programs and NQM (DSCR and bank statement)
• Proficiency in DU/LP/GUS and Encompass or other major LOS
• Ability to calculate income
• Strong verbal and written communication skills
• Creative problem solver with a positive attitude
• Ability to prioritize and multi-task in order to meet deadlines strong organization skills
• Strong sense of urgency and responsiveness along with the ability to demonstrate professionalism

Additional Information :

All your information will be kept confidential according to EEO guidelines.

Remote Work :

No

Employment Type :

Full-time