Loan Officer Assistant

Mortgage Loan Officer Assistant / Advanced Loan Partner

Mortgage Marketplace | Salem, Oregon | Remote or In Office

Mortgage Marketplace is hiring an experienced Mortgage Loan Officer Assistant / Advanced Loan Partner to work closely with our Loan Officers and help manage borrowers from initial application and preapproval through closing.

This is not an entry level administrative assistant position.

We are looking for an experienced mortgage professional who understands how to evaluate a borrower’s complete financial picture, analyze credit, income and assets, research mortgage guidelines, interpret automated underwriting findings, structure loan options, manage a committed pipeline, and proactively solve problems before they affect a transaction.

The right person will be highly organized, resourceful, detail oriented, proactive, and comfortable taking ownership of their responsibilities without needing constant direction.

You do not need to know the answer to every mortgage question from memory. You do need to know how to research the answer, evaluate available options, and recommend a reasonable course of action.

What You Will DoApplication and Borrower Qualification

You will help evaluate new borrowers and determine the most appropriate path toward mortgage qualification.

Responsibilities include:

• Contact newly assigned borrowers promptly and establish clear next steps

• Review the complete 1003 with borrowers and confirm the application accurately reflects their financial situation

• Analyze credit, income, employment, assets, liabilities, housing history, and other qualification factors

• Review borrower documentation for completeness and consistency

• Identify missing information, documentation concerns, guideline conflicts, or potential qualification issues early

• Request additional documentation when necessary to properly evaluate a borrower

• Research applicable loan programs, agency guidelines, investor requirements, and potential alternatives before determining that a borrower cannot qualify

• Keep the Loan Officer informed of important developments and unusual scenarios

Preapproval and Loan Structuring

A major part of this position is helping produce accurate, well documented preapprovals.

You will:

• Prequalify and preapprove eligible borrowers

• Run, review, and interpret Desktop Underwriter and Loan Product Advisor findings

• Determine documentation requirements based on AUS findings and applicable guidelines

• Research Conventional, FHA, VA, USDA, Non QM, and investor guidelines when needed

• Structure appropriate mortgage options based on borrower qualifications and goals

• Prepare accurate preapproval letters

• Update preapproval letters and financing scenarios as circumstances change

• Respond to questions regarding monthly payment, down payment, financing structure, and loan options

• Clearly explain preapproval parameters and next steps to borrowers

• Identify potential risks before they become transaction problems

• Communicate borrower preapproval status to Realtor partners when appropriate

• Proactively follow up with preapproved borrowers throughout their home search

• Handle legitimate rush preapproval requests when necessary

Committed Loan Pipeline

Once a borrower enters into a purchase agreement, you will help manage the loan through closing.

Responsibilities include:

• Review newly accepted purchase agreements and important transaction dates

• Assist with contract onboarding and transition into disclosures and processing

• Monitor the committed loan pipeline and identify files requiring immediate attention

• Coordinate with Loan Officers, processors, underwriters, borrowers, Realtors, title and escrow professionals, insurance agents, and other transaction partners

• Track outstanding borrower documentation and loan conditions

• Monitor financing, appraisal, underwriting, documentation, contingency, closing, and funding milestones

• Identify potential closing delays early and work toward resolving them

• Help the team maintain a high level of on time closings

• Research and resolve routine loan issues whenever reasonably possible before escalating them

• Provide regular borrower and Realtor updates

• Review loan documents and disclosures for accuracy when applicable

• Conduct preclosing communication with borrowers and confirm they understand what to expect

• Help ensure outstanding issues are addressed before closing whenever possible

• Provide funding and post closing communication when required

Problem Solving and Ownership

This position requires independent thinking and personal ownership.

We expect our Loan Partner to research problems before escalating them.

When an issue arises, you should be prepared to:

• Clearly identify the problem

• Research applicable agency, investor, lender, and program guidelines

• Explore reasonable alternatives

• Identify potential solutions whenever possible

• Recommend the solution you believe is most appropriate

• Clearly explain your reasoning when bringing an issue to the Loan Officer

Our goal is for the Loan Partner to independently resolve the large majority of routine loan issues while understanding when Loan Officer involvement is necessary.

Required Qualifications

Candidates should have:

• An active state Mortgage Loan Originator license in good standing in NMLS

• A minimum of 5 years of mortgage lending experience in processing, underwriting, origination, loan officer assistance, or a combination of these areas

• Strong working knowledge of Conventional, FHA, VA, and USDA mortgage programs

• Strong understanding of mortgage credit, income, employment, assets, liabilities, and borrower qualification

• Experience reviewing residential mortgage applications and 1003s

• Experience analyzing borrower documentation and identifying qualification concerns

• Experience structuring residential mortgage loan options

• Proficiency with Desktop Underwriter and Freddie Mac Loan Product Advisor

• Ability to interpret automated underwriting findings

• Ability to independently research agency, investor, and lender guidelines

• Experience using mortgage Loan Origination Systems

• Strong written and verbal communication skills

• Excellent organization and attention to detail

• Strong time management skills

• Ability to manage multiple priorities in a transaction driven environment

• Strong problem solving and independent research skills

• Ability to communicate professionally with borrowers, Realtors, processors, underwriters, and other transaction partners

• Proficiency with Microsoft Outlook, Word, Excel, and related applications

Preferred Experience

The following experience is helpful but not required:

• ARIVE or similar mortgage Loan Origination Systems

• Mortgage broker or wholesale lending experience

• Non QM lending

• DSCR loans

• Bank statement programs

• Alternative income programs

• HELOCs

• Complex borrower qualification scenarios

• Self employed borrower analysis

• Investor financing

• Direct communication with Realtor referral partners

What Success Looks Like

The right person for this position will:

• Take ownership instead of waiting to be told what to do next

• Catch potential problems before they become closing emergencies

• • Communicate