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Provides processing and sales support for loan applications received from Wholesale Loan Brokers. Works with assigned Account Executives and Brokers to facilitate the management of the loan applications from submission to closing. Performs all duties in accordance with the company’s policies and procedures, all US state and federal laws and regulations, wherein the company operates. The target pay range for this position is $50,000 to $70,000.
What You’ll Do
- Main contact of communication and support between the Broker and the various departments and individuals of the company throughout the process of the loan, including but not limited to Account Executives, Underwriting, Quality Control, Docs, and Funding.
- Provide excellent customer service.
- Pull or verify credit reports, flood certificates, and review appraisals as needed.
- Ensure compliance deadlines are met regarding pre-disclosures, approval letters, cancellations, and declinations.
- Monitor incoming documents from Brokers, verifying the data collected and submitted.
- Obtain necessary stipulations from brokers and clear any stipulations prior to funding as required by underwriting.
- Proactively monitor pipeline to ensure timely funding of loans.
- Meet with Account Executives regarding their pipelines and provide daily updates.
- Communicate with the Broker at least every other day and update all necessary parties.
- Enter required data into the computer system and maintain the accuracy of the data.
- Inform the Broker and Account Executive about any discrepancies in the loan file, including title, appraisals, credit, employment, income, etc.
- Order Verifications of Employment and Deposits to assist with the pre-funding QC process.
What You'll Need
- Maintain highly confidential information concerning loan applicants.
- FHA & VA background.
- Full knowledge of RESPA regulations as it pertains to the GFE.
- Require high organizational skills and ability to work on multiple files simultaneously.
- Constant contact with borrowers, brokers, agents, loan officers, and internal staff.
- Significant coordination of duties; familiarity with office machines; ability to sit for extended periods; normal hearing and vision.
- Effective verbal and written communication skills.
- Excellent computer skills and working knowledge of Microsoft Office.
- Educational background and experience equivalent to a Bachelor’s degree.
- At least five years of experience as a Wholesale Account Manager or mortgage Loan Processor working with multiple Brokers, Account Executives, Investors, and loan products.
- Thorough knowledge of all aspects of wholesale loan production and mortgage loan processing.