Loan Coordinator - Loan Processor

• Full-time
• FLSA Status : Nonexempt
• Department : Branch Support

Company Description

Summit Funding, Inc is one of the oldest still privately owned top 50 national mortgage lenders. When Todd Scrima, our owner and CEO founded our company in 1995 his dream was not to be the biggest, but to strive to be the best.

In 2022 we were proud to play a part in making the dream of homeownership a reality for over 10,000 people. Our growth mindset, positive culture, and history of stability are just a few things that position our company as a leader in the mortgage industry.

Benefits and Perks :

• Opportunity to further a career in a competitive, fast-paced growing industry where you can make a difference in people’s lives.
• Opportunity to earn competitive compensation including possible bonuses based on performance.
• Full benefits include medical, dental, vision, 401K plus match, 11 paid holidays, paid time off, and more.
• Fun team atmosphere, professional development, and more.

Job Description

Loan Coordinator - Loan Processor

Starting pay ranges between $20-$23 / hr depending on experience with monthly bonuses based on production

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.

Qualifications

• Prefer a minimum of 2 years of recent experience in mortgage lending preferably in processing
• Working knowledge of loan program guidelines including conventional, jumbo, and government loan programs
• Proficiency in DU / LP / GUS and / 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

Additional Information

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

Last updated : 2024-04-07