Mortgage Loan Processor/Assistant Job in Los Angeles 90025, California Us
Part-time job opening for a mortgage loan processor/assistant for a top-producing loan officer in West Los Angeles (20 hour/week minimum). This job has great potential to become a full-time job or rapid promotion to a full-time position for the right candidate. You will work in close coordination with the Loan officer, and Senior Loan Processor. This is not a sales job, but excellent phone skills and knowledge of the Mortgage Banking industry are essential. The candidate must be willing to take upon him or herself whatever the Loan Officer deems necessary to build his or her business. He or she will assist in managing the pipeline of loans and making sure the process flow is efficient. Excellent communication skills are essential. The candidate must be able to competently communicate with the borrower and all parties involved in the transaction. Organizational skills and a strong sense of integrity and accountability are key to the success of this job. The candidate will be responsible for “keeping everything together” by following up and tracking closing dates, contingency dates, lock expirations, appraisal and title orders etc.
Responsibilities and Duties:
The job responsibilities fall into the three areas outlined below – the Application, Processing and Approval/Closing.
1. Application
- Make sure initial disclosures are sent to Borrowers, returned and logged in
- Pull credit report.
- Request financials and other loan requirements.
- Schedule a tentative closing date.
- Email or overnight the application and disclosure package.
- Follow up within 48 hours to make sure the package is signed and returned along with financials and loan requirements requested.
2. Processing
- Order the appraisal, title Escrow and flood cert.
- Order all necessary verifications.
- Order Compliance items (RESPA, TIL report).
- Order Condominiums questionnaire and C.C.Rs.
- Order 4506T.
- Denote Mortgage Contingency, COE and Lock expiration date on front of the file.
- Submit file to Senior Loan Processor for final review.
3. Approval and Closing
- Once a loan is submitted to the underwriting department and the underwriting turn time has elapsed, follow up to make sure the approval is clear of conditions.
- Follow up on Appraisal sign off and Mortgage Contingency removal dates.
- Coordinate Doc signing with borrowers and escrow once docs are ready to be released.
- Confirm with Escrow or Funding Dept that docs are back for funds.
- Answers Borrower questions to best of ability, or refer to LO for further assistance.
- Field questions from 3rd party vendors / agents prior to close.
- Assist the Senior Loan Processor when necessary to clear outstanding conditions.
- Follow up with the borrower to confirm the closing went well, and offer thanks.
Qualifications:
- High School diploma and 2 years experience in a mortgage environment or a combination of education and experience, NMLS license and/or Bachelors degree preferred.
- Proven experience processing Conventional, FHA, VA, and jumbo loans, ideally in the banking industry, including experience processing conventional loans in 2010.
- Experience as a Loan Officer or Loan Officer’s Assistant a plus.
- Up to date knowledge of competitive mortgage products, and working knowledge of standard mortgage documents including but not limited to application, disclosures, credit reports, VOD, VOE, etc.
- Ability to handle sensitive and confidential information and exercise discretion.
- Strong Analytical, problem assessment/solving and decision making skills
- Excellent comprehension, listening, written and verbal communication skills.
- Able to work well in a high volume/high pressure environment and close a high volume of loans on a monthly basis.
- Quality orientation with extreme attention to detail, accurate typing and excellent proofreading skills.
- Able to manage time effectively, prioritize and multi-task.
- Excellent tenure in previous positions
- Computer literate with proficiency in Word, Excel, 10 key. Experience with ACT and Point, with the ability to quickly learn and utilize multiple new software programs.
- Work well independently with little supervision, and as a cooperative team player.
- Flexibility to work overtime when required
Mortgage Capital Partners is a boutique Mortgage Bank in West Los Angeles with about 45 loan officers and 30 staff members providing residential mortgage financing to people in California, with over 25 years of experience in the mortgage business.