Loan Officer Assistant

NightOwl Consulting

About The Position

The loan officer assistant is responsible for providing administrative support to loan officers throughout the loan application and approval process. They assist clients in completing loan applications, gather necessary documents, communicate with customers, and ensure compliance with regulatory requirements. The loan officer assistant plays a crucial role in maintaining smooth operations and providing excellent customer service.

Requirements

1+ years of Loan Officer Assistant Experience
Experience w/ order outs
Experience calling third parties

Nice To Haves

Encompass experience

Responsibilities

Review Lender conditions with L.O. and gather necessary items from clients
Track the loan process from submission to closing and ensure deadlines are met
Keep track of and update pipeline dates
Act as a hub for all team communication (clients, third parties, internal)
Database management - creates and maintains records
Requests borrower-related conditions on approval
Responsible for all Blend notifications
Manage new lead and preapproval pipeline to increase engagement/follow-ups
Assists processing team with order outs, loanbeam, fastrack submissions, file scrubs
Assist customers in completing loan applications and gather necessary documents such as income verification, tax returns, bank statements, and credit reports.
Answer customer inquiries and provide information about loan products and services.
Review loan applications for completeness and accuracy.
Verify information provided by customers, ensuring all required documents are included, and conducting preliminary assessments of creditworthiness.
Organize and maintain loan files, ensuring that all documents are properly filed and recorded.
Track application statuses, update loan information, and prepare loan documents for underwriting.
Communicate with customers, lenders, and other stakeholders throughout the loan process to provide updates, request additional information, and address any concerns.
Assist loan officers in processing loan applications by preparing files for underwriting, gathering necessary documentation, and ensuring compliance with regulatory requirements.
Perform initial credit checks, income calculations, and collateral evaluations.
Stay updated on relevant lending regulations and guidelines to ensure compliance with legal and industry requirements.
Follow anti-money laundering (AML) protocols, fair lending practices, and data protection regulations.
Schedule appointments, maintain calendars, and prepare reports.
Help with loan closing activities, including coordinating with title companies, attorneys, and other parties involved in the process.
Establish and maintain positive relationships with customers, providing excellent customer service throughout the loan process.
Stay updated on industry trends, loan products, and underwriting guidelines.
Attend training sessions, workshops, and keep abreast of changes in lending practices and regulations.