Mortgage Loan Coordinator (26-70)
About The Position
The Mortgage Loan Coordinator (MLC) is responsible for processing mortgage loan applications in accordance with guidelines set by the Bank, Fannie Mae, Correspondent Investors, and Federal/State Regulations. The MLC will interact directly with clients throughout the loan origination, processing, closing, and funding stages. This role requires a professional demeanor, the ability to thrive in a customer-focused environment, and exceptional attention to detail. Experience in managing the entire loan application lifecycle, from origination through closing, funding, and post-closing, is essential.
Requirements
- Mortgage Loan Processing, Origination, or Closing – experience 2+ years
- Fundamental knowledge of Fannie Mae Guidelines
- High School Diploma or equivalent
- Excellent verbal and written communication skills, analytical and organizational skills.
- Broad experience in mortgage lending and/or retail banking.
Nice To Haves
- Bachelor’s Degree in Business, Business Administration, Finance, or related field preferred.
Responsibilities
- Prepare mortgage loan disclosures in compliance with all laws and regulations, i.e. RESPA, Reg Z, etc. – including the Loan Estimate. Maintain compliance with regulatory disclosures throughout the processing of the loan.
- Track receipt of disclosures and appraisals in compliance with E-Sign Act, and Investor requirements for electronic delivery.
- Communicate with the clients to obtain supporting credit documentation. Communicate loan approvals, conditions, rate locks etc. to borrowers and related parties.
- Order all third-party documentation required at closing, i.e. Appraisal, Title Commitment, Flood Cert, etc.
- Input application in loan origination system, order credit report, run Automated Underwriting and generate/review preliminary findings. (If input done by originator, MLC to verify input, credit and AUS findings.)
- Submit complete application package to underwriter and coordinate with parties to obtain follow-up documentation to clear loan conditions.
- Prepare loan for closing, coordinating with attorneys, title companies, and Borrowers.
- Demonstrate knowledge of financial institution operating policies and procedures and banking regulations state and federal.
- Perform other administrative duties as assigned.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
