Team Loan Coordinator

Nova Home Loans

7d•$20 - $42

About The Position

The Team Loan Coordinator role assists in the management and coordination of loans which have been fully negotiated/originated by the licensed Loan Officer or Loan Officer Associate. This position is responsible for reviewing files for adherence to underwriting standards and to ensure completeness of the file upon submission to underwriting. This position contacts borrowers to collect necessary documentation and acts as a liaison between origination and processing. This position reports directly to a Loan Officer and completes the below duties for the loans in the Loan Officer’s pipeline and the pipeline of others that report directly to the Loan Officer. Team Loan Coordinators are non-licensed employees. Team Loan Coordinators are prohibited by law (i.e., S.A.F.E. Act) from (1) taking a residential mortgage application and/or (2) offering or negotiating terms of a residential mortgage loan. Additionally, they are prohibited from starting a file in the LOS, pricing/locking in NYLX, adjusting terms on the GFE, or discussing (even in general) the terms of a loan including but not limited to the APR, loan type, rate, payment, etc. with customers, vendors, or referral partners.

Requirements

High School Diploma or GED is required.
Knowledge of applicable federal, state, and local laws, rules, and regulations regarding all types of mortgage loans.
Ability to maintain high level of confidentiality regarding private, trade secret and/or proprietary information.
Knowledge and understanding of computer software programs such as Microsoft Word, Excel, and Outlook as well as mortgage loan origination software.
Effective oral and written communication skills.
Excellent follow-up/follow through skills.
Strong attention to detail skills.
Ability to work in a fast-paced work environment and maintain quality and composure under pressure.
Ability to work independently and as part of a team.

Nice To Haves

Two (2) years of recent work experience as a loan officer, underwriter, or processor within the mortgage industry is preferred.
Previous experience in a field requiring customer service is preferred.

Responsibilities

Confirms appointments with the borrowers.
Confirms that borrower will bring supporting documents requested by the Loan Officer for meeting to collect borrower signatures and review supporting documentation.
Organizes and tracks key dates of all active loans.
Manages pipeline; Updates LOS as to the progress/status of the loan and notifies origination team of problems or concerns in a timely manner.
Receives application from Loan Officer/Loan Officer Associate and review for completeness accuracy via the DIRFT process, providing feedback to the origination team where appropriate.
Meets with borrowers to sign disclosures after file has been fully negotiated by the licensed originator.
Collects documentation, disclosures, conditions and required paperwork; collect appropriate fees (may not discuss pricing or products).
Review documentation to ensure all documentation is supplied and correct.
Provides borrower with checklist of additional documentation required with a due date on when the documents are to be returned.
Responsible for calculation and accuracy of income for qualification.
Meets with origination team to assist with outstanding questions on loan programs, qualification, income calculations, etc.
Ensures all data entry in LOS is accurate in accordance with rules and regulations.
Resolves file problems, bottlenecks, and qualifying issues throughout production process.
Answers borrower’s inquiries relating to loan application status to ensure quality customer service.
Perform other duties as assigned.