What are the responsibilities and job description for the Loan Coordinator position at New American Funding?
Overview:
Location: Lansdale, PA (on-site)
Pay: $24-$30/ hr DOE
Bonus: $100 per file
Job Summary:
The Loan Partner Two ("LP2") is responsible for accurately prequalifying home loan applications and issuing pre-approval letters. This position requires knowledge of cash, credit, capacity (income), and collateral. The LP2 will work with the Loan Officer(s), borrowers, loan processors, underwriters, and third parties to close over 95% of all loans on time.
Responsibilities:
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Position: Loan Coordinator
Location: Lansdale, PA (on-site)
Pay: $24-$30/ hr DOE
Bonus: $100 per file
Job Summary:
The Loan Partner Two ("LP2") is responsible for accurately prequalifying home loan applications and issuing pre-approval letters. This position requires knowledge of cash, credit, capacity (income), and collateral. The LP2 will work with the Loan Officer(s), borrowers, loan processors, underwriters, and third parties to close over 95% of all loans on time.
Key Responsibilities:
- Prequalify: Contact all borrowers within 24 hours of the initial consultation to request and review cash, credit, and income qualifications.
- Pre-Approve: Accurately pre-approve eligible borrowers, handle payment scenarios, and proactively contact pre-approved buyers.
- Pipeline: Onboard newly received contracts and submit loan applications for eDisclosures. The LP2 ensures 95% of loans close on time and resolves 95% of loan issues before escalating to the Loan Officer.
Qualifications:
- Must maintain an active NMLS license.
- Minimum 5 years of experience in mortgage processing, underwriting, or origination.
- Demonstrate proficient product knowledge of FHA, VA, Conventional and other loan programs such as Home Equity Lines of Credit, 2nd mortgages.
- Proficient in DU/DO, LP, Encompass.
- Ability to analyze tax returns and accurately calculate income for all types of borrowers.
- Strong communication skills, time management, and the ability to work under pressure.
- Must be able to work a flexible schedule that may include some evening or weekend hours.
We are seeking candidates with 5 years experience as an LP2 or who are experienced in The Core training program.
Other Duties: This job may require frequent sitting or standing for long periods of time. This job profile is not intended to be an all-inclusive list of job duties and responsibilities, as one may perform additional related duties as assigned in order to meet the needs of the organization.
Work Authorization: Must be able to verify identity and employment eligibility to work in the U.S.
Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Must be able to lift up to ten pounds. Primary functions require sufficient physical ability and mobility to work in an office setting; to stand or sit for prolonged periods of time; to occasionally stoop, bend, kneel, crouch, reach, and twist; to lift, carry, push, and/or pull light to moderate amounts of weight; to operate office equipment requiring repetitive hand movement and fine coordination including use of a keyboard; and to verbally communicate to exchange information. VISION: See in the normal visual range with or without correction. HEARING: Hear in the normal audio range with or without correction.
[EOE/M/F/D/V. Drug-free workplace.]
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Salary : $24 - $30