What are the responsibilities and job description for the Loan Setup Specialist position at Luxury Mortgage Corp.?
CAREER OPPORTUNITY
Job Title: TPO Loan Setup Specialist
FLSA Status: Non-Exempt
Reports To: Wholesale Operations Manager
Reports To: Wholesale Operations Manager
Location: Hybrid/Remote (Irvine, CA or Stamford, CT)
Do you enjoy detail-oriented tasks that ensure document accuracy and compliance? Do you thrive on problem-solving and communicating with brokers, borrowers and colleagues? Are you known for strong organizational skills and willingness to improve workflows? If so, we would like you to join our team as a full-time Loan Setup Specialist at Luxury Mortgage Corp. (LMC)!
About Us: At LMC, we are more than just a mortgage banker—we are a thriving, innovative, and diverse company with a strong presence across 44 states. Headquartered in Stamford, (CT), with an additional office in Irvine, (CA), we have been setting the standard in the mortgage industry since 1996. We are dedicated to growing our team with professionals who share our passion for excellence.
Your Role: As a Loan Setup Specialist, you will be responsible for monitoring the loan opening queue within Encompass and ensuring the timely and accurate delivery of state and federal disclosures to borrowers for both banked and brokered loans. Additionally, you will manage the re-disclosure process, adhering to company policies and regulatory requirements, while meticulously documenting any changes. Your contributions will ensure a smooth and compliant experience for our clients, all while upholding our standards of integrity and excellence. This position reports to the Wholesale Operations Manager.
General Responsibilities:
- Manage the broker submission queue.
- Review and ensure files are accurate and complete.
- Communicate with brokers regarding missing items.
- Order title quotes.
- Input fees and complete Loan Estimates, 4506, and HMDA information.
- Send disclosures to borrowers via email or USPS and confirm receipt.
- Identify loan files requiring re-disclosure.
- Include new disclosures if circumstances change.
Qualifications:
- High school diploma required; higher education is a plus.
- Minimum of two years of experience in wholesale mortgage lending, including loan disclosures.
- Strong ability to collaborate with brokers and work effectively in a team.
- Knowledge of Non-QM loans is a plus but not mandatory.
- Familiarity with mortgage compliance regulations, including TRID.
- Proficient in reviewing files for completeness and accuracy of data.
- Ability to thrive in a fast-paced environment.
- Excellent oral and written communication skills.
PERKS and BENEFITS
At LMC we believe our employees are our greatest asset. We know that happy employees are productive employees, which is why we offer a comprehensive benefits package including but not limited to:
- A flexible work environment offering remote and hybrid opportunities
- Paid vacation, sick and personal days
- Medical, dental & vision plans
- 401k with employer matching contribution
- Short- and long-term disability plans
- Voluntary Life & AD&D insurance
- Pet Insurance options
- Healthcare, Dependent Care and Transit FSA
- PTO/parental leave
- Free parking when onsite
- Casual dress code when in office (Dress for Your Day)
- Free financial counseling, health coaching and Employee Assistance Program
We are building a diverse and inclusive workforce where we provide equal opportunities to all employees and applicants for employment without regard to race, religion, color, age, sex, national origin, sexual orientation, gender identity, genetic disposition, disability, veteran status or any other protected category under federal, state or local law.
The compensation range for this role is $60,00.00 to $65,000.00 which may vary based on skills, experience and location.
NOTE: The above description is intended to describe the general nature and level of work to be performed. It is not intended to be an exhaustive list of all responsibilities of the position