Associate Loan Officer

Rate; Northern (KY); Hybrid; USD 55,000 - 75,000; Full time

Benefits offered by this job

401(k)

Vacation benefits

Medical, dental, vision benefits

Flexible benefits

Life insurance

Commuter benefits

Well-being programs

Job summary

Rate is a leading retail mortgage lender seeking an Associate Loan Officer to support one or more Vice Presidents of Mortgage Lending. The role involves loan origination on behalf of the VP, pre-application through post-closing client interaction, and data entry into Encompass.

Key tasks include taking applications, sourcing loans, maintaining organized files, and communicating with customers and referral sources.

Qualifications

• Excellent customer service skills and strong work ethic.
• Exceptional verbal and written communication and listening skills with ability to communicate with multiple levels of management and influence others.
• Ability to work in a fast-paced environment requiring strong organizational skills and analytical acumen.
• Excellent time-management skills and follow-up to meet deadlines.
• Familiarity with mortgage industry and GRI loan processes.
• Ability to multi-task with attention to detail while meeting deadlines in a fast-paced environment.
• Proficient in Microsoft Office Suite including Outlook, and loan origination system (Encompass).
• Ability to think strategically to solve problems with loan files.

Responsibilities

• Take applications from the VP's clients in person and by phone, performing required licensable activities.
• Independently source and originate loans and generate new business.
• Enter loan data into Encompass and maintain complete files.
• Monitor loan from application through closing and communicate with customers and referral sources.
• Coordinate with Marketing to create materials for agents.
• Maintain calendars, schedule meetings, and ensure timely follow-ups.
• Support origination activity and assist the VP in executing growth plans.

Skills

Customer service

Communication

Time management

Organizational skills

Mortgage industry knowledge

Detail oriented

Tools

Microsoft Office Suite

Encompass

Job description

Rate is one of the nation’s top retail mortgage lenders, delivering a seamless, tech-driven experience that helps customers reach their homeownership and financial goals. Founded in 2000 and based in Chicago, Rate is licensed in all 50 states and D.C. and has helped over 2 million homeowners with a wide range of loan products, competitive rates and personalized service. With 5,000+ employees across 300+ offices and 12+ subsidiaries, Rate’s Loan Officers rank among the best in the country. From purchases and refinances to tapping into equity, Rate makes financing faster, simpler and less stressful. Our technology — including Same Day Mortgage, the Rate App, FlashClose, MyAccount and the Language Access Program — has earned recognition from HousingWire, Scotsman Guide, NerdWallet, the Chicago Tribune and Crain’s Chicago Business. Learn more at rate.com.

Job Profile: Associate Loan Officer

We are committed to providing a competitive and equitable total rewards package. The compensation for this role is designed to attract, retain, and motivate top talent. The expected base salary range for this position is [$ Minimum Amount] to [$ Maximum Amount] annually or hourly.

Job Description

The central focus of an Associate Vice President of Mortgage Lending (AVP) is to support one or more Vice President(s) of Mortgage Lending (VP) with a variety of tasks related to increasing their production, efficiency, and quality of work. An AVP's tasks are divided between 3 important components including1) Loan Origination on behalf of the VP(s) they support, as well as independently originating business from new sources; 2) Pre-application through post-closing client interaction, including taking of applications and Loan data entry into the operating system, Encompass; 3) Market and otherwise assist the VP execute their business plan and growth strategy.

Essential Duties and Responsibilities

• AVPs are required to be actively license and sponsored by the company and must mirror the licensing footprint of the VP(s) they support.
• All pricing elements including the CO, Cap, etc. must also match the VP(s) they support.
• AVPs may be compensated differently for loans originated by the AVP on behalf of the VP(s) they support compared to loans they independently sourced and originated.
• AVPs are permitted to independently market themselves, and hae access to the Marketing Menu of options, as well as the company;s technology including Digital Mortgage and other tools to support them in originating loans independently.
• Taking applications from the VP's clients in person and by phone, performing required and permitted licensable activities, and otherwise supporting origination activity.
• Take applications, independently sourcing, and originating loans, and performing other permitted licensable activities to generate new business and origination opportunities.
• Ensuring applications are complete and entering notes into the file for processing as directed.
• Prepare preapproval letters after qualification according to company policy.
• Phone and email support including checking messages, returning calls, and correspondence to maintain organized files and work environment.
• Maintaining calendars and scheduling meetings, closing and creating calendar invitations, and following up timely with customers and potential borrowers.
• Monitor the loan from application through the closing process, maintaining effective communications with customers, referral sources, and loan support staff.
• Pipeline Inspection: review the pipeline to check for challenges and assess daily turn times to minimize lock expirations, missed contingency, and scheduled close times.
• Lock, update, change, or extend investor locks with Commitment Desk as necessary.
• Change/extend loans and request pricing expectations as needed or requested.
• Track and approve CDs for closing and educate borrowers on process and terms.
• Obtain and track CDs, check final numbers, and call borrowers with the dollar amount necessary to close.
• Database management including coordinating monthly correspondence to borrowers who recently closed a loan.
• Coordinate with the Marketing Department to create marketing materials for agents.
• Complete tasks in a timely manner and work amicably with others and the POD.
• Other duties and responsibilities as assigned.

Skills and Competencies

• Excellent customer service skills and strong work ethic.
• Exceptional verbal and written communication and listening skills with ability to communicate with multiple levels of management and influence others.
• Ability to work a fast-paced environment that will require strong organizationals skills and analytical acumen.
• Excellent time-management skills and follow up and follow through with ability to multitask and meet deadlines.
• Familiarity with mortgage industry and GRI loan processes.
• Ability to multi-task with strong attention to detail while meeting deadlines in a fast-paced environment.
• Proficient in Microsoft Office Suite including Outlook, and loan origination system (preferably Encompass).
• Ability to think strategically to solve problems or challenge with loan files.

Additional Job Description Summary

Rate is an Equal Opportunity Employer that welcomes and encourages all applicants to apply regardless of age, race, sex, religion, color, national origin, disability, veteran status, sexual orientation, gender identity and/or expression, marital or parental status, ancestry, citizenship status, pregnancy or other reason protected by law.

The company offers a comprehensive benefits program to eligible employees, including:

• eligibility to participate in a company-sponsored 401(k)
• vacation benefits
• eligibility for medical, dental, vision, and prescription drug benefits
• flexible benefits (e.g., healthcare and/or dependent day care flexible spending accounts)
• life insurance and death benefits
• critical care insurance
• personal accidental insurance
• commuter benefits
• pet insurance
• certain time off and leave of absence benefits
• well-being benefits (e.g., employee assistance program)
• other supplemental benefits (e.g. legal planning assistance; identity theft protection; pet insurance; wellness resources)

Please click this link to learn more about our benefit offerings for Washington State: Benefit Offerings for Washington State.

Rate is one of the nation’s top retail mortgage lenders, delivering a seamless, tech-driven experience that helps customers reach their homeownership and financial goals. Founded in 2000 and based in Chicago, Rate is licensed in all 50 states and D.C. and has helped over 2 million homeowners with a wide range of loan products, competitive rates and personalized service. With 5,000+ employees across 300+ offices and 12+ subsidiaries, Rate’s Loan Officers rank among the best in the country. From purchases and refinances to tapping into equity, Rate makes financing faster, simpler and less stressful. Our technology — including Same Day Mortgage, the Rate App, FlashClose, MyAccount and the Language Access Program — has earned recognition from HousingWire, Scotsman Guide, NerdWallet, the Chicago Tribune and Crain’s Chicago Business. Learn more at rate.com.