Loan Officer Assistant

Key Mortgage Services Inc.; Schaumburg (IL); On-site; USD 45,000 - 65,000; Full time

Benefits offered by this job

Medical

Dental

401k with match

Paid Time Off

Volunteer Time Off

Job summary

A leading mortgage service provider in Schaumburg, Illinois, is seeking a Loan Officer Assistant. The role involves supporting Loan Originators by ensuring accurate, complete, and compliant loan files while enhancing client experience. Candidates should have a minimum of 3 years of loan processing or origination experience, strong communication skills, and proficiency with Encompass. Benefits include medical, dental, and a 401k match.

Qualifications

• Minimum of 3 years loan processing or origination experience including conventional and government loan programs.
• Experience communicating with borrowers and referral partners.
• Strong organizational and detail-oriented skills.

Responsibilities

• Submit loan applications by auditing and validating data entry.
• Track outstanding items on loan files and follow up for information.
• Analyze credit reports and calculate housing ratios.

Skills

Loan processing knowledge

Communication skills

Detail oriented

Multi-tasking ability

Tools

Encompass

DU (Desktop Underwriter)

LPA (Loan Product Advisor)

Job description

Overview

The Loan Officer Assistant (LOA) provides comprehensive support to one or more Loan Originators throughout the loan file production and submission process. This role is focused on delivering an exceptional experience to borrowers and referral partners while ensuring loan files are accurate, complete, and compliant with Key Express submission requirements. By managing day-to-day file support, the LOA enables Loan Originators to dedicate more time to business development and relationship building.

Essential Duties

• Submit concise loan applications for the Loan Officer by auditing, reviewing and validating data entry to match supporting documentation
• Communicate with and support Loan Processors to obtain conditions
• Assist clients and guide them through the mortgage pre-approval process
• Reviewing supporting documents and information to determine what is needed
• Track outstanding items on all loan files and follow up with borrowers for additional information & documents using point of sale system, Glyde, to ensure timely receipt of necessary documentation.
• Running AUS and notifying LO that the file is ready for review and Pre Approval
• Understand income sources and accurately calculate borrower qualifying income
• Analyze credit reports to understand liabilities and identify potential issues
• Calculate housing and expenses ratios
• Utilizing AUS tools (DU / LP) findings to obtain eligible / accept recommendations
• Other duties may be assigned to provide coverage or additional administrative assistance

Licensed Duties

• Has the ability to assist in discussing rate and terms with clients
• Able to originate loans either for themselves or on behalf of the loan officer they support provided it does not impede the required support functions
• Have knowledge of and ability to interpret mortgage program guidelines utilizing the available tools and software

Qualifications

• Minimum of 3 years loan processing or origination experience including conventional and government loan programs
• Proficient in working with LOS system Encompass
• Understanding of agency automated underwriting systems DU and LPA
• Experience in communicating verbally with borrowers and referral partners
• Has the ability to multi-task in a very fast paced environment
• Excellent written and verbal communication skills
• Must be organized, consistent and detail oriented

Benefits

• Medical
• Dental
• 401k with match
• Paid Time Off
• Volunteer Time Off