Loan Setup Associate
2 weeks ago
Job Title: Associate, Loan Setup
Job Summary
We are seeking a highly organized and detail-oriented Associate, Loan Setup to join our team. The successful candidate will be responsible for obtaining mortgage loan documentation, communicating with stakeholders, and preparing loan files for underwriting approval.
Key Responsibilities
- Obtain mortgage loan documentation, including credit reports, land surveys, and title information.
- Effectively communicate with Loan Officers, Borrowers, and other stakeholders to obtain information or clarify document deficiencies.
- Identify and highlight loan application and documentation problems, notifying the underwriter of any issues.
- Prepare mortgage loan files by reviewing loan applications, clarifying or obtaining additional information, and submitting files to underwriting for approval.
- Continually assess the loan pipeline and request necessary borrower documentation to ensure loan compliance with product and program requirements.
Requirements
- Ability to obtain and decipher Automated Underwriting System (AUS) findings.
- Experience in full origination mortgage processing, loan set up, loan documentation, closing, title, quality assurance, compliance, underwriting, or assisting with conventional first mortgage loan products.
- Experience working with Loan Officers, Borrowers, and an active pipeline of mortgage loans.
- Maintain an active pipeline of 35-40 first mortgage loans at any given time.
- Achieve a "first-time submission" rate of at least 70% after 3 months on the job.
- Pass the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) National Test with Uniform State Content and Missouri State Component Test.
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