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Summit Funding, Inc. · 20 hours ago

Mortgage Loan Processor - Loan Coordinator

Chicago, IL

Full-time

Hybrid

Entry Level

$18/hr - $29/hr

1+ years exp

Summit Funding, Inc is one of the oldest still privately owned top 50 national mortgage lenders. They are seeking a Mortgage Loan Coordinator - Processor to manage a pipeline of loans from contract to close, acting as a key contact for both borrowers and internal partners.

FinanceFinancial ServicesLendingWealth Management

Hiring Manager

Jennifer Hudson

Responsibilities

Receive loan applications, obtain credit information for applicants, and collect all needed documentation for loans

Answer all borrower questions or refer to Loan Officer as needed

Verify loans are complete and submit to Underwriting based on Investor and/or Automated Underwriting System (AUS) requirements within 24 hours of receipt of documents

Clear any conditions that require communication to title companies, appraiser, employers, surveyors, etc

Solve escrow issues without involving the Loan Officer when possible

Collect all necessary items needed to prepare the Closing Disclosure (CD) and ensure timely drawing and delivery of the CD in order to meet the expected close of escrow

Ensure closing instructions and documents have been released to title 72 hours before closing, and a final settlement statement is issued to the Loan Officer or team 48 hours prior to closing

Review all closing statements and compare to signed Good Faith Estimate (GFE) before signings, and correct discrepancies where needed

Meet with clients to sign loan documents

Send out correspondence including thank you cards, closing cost calculations, etc

Maintain a detailed conversation log for each file

Qualification

Mortgage processing experienceLoan program guidelinesEncompassCalculate incomeProfessionalismVerbal communication skillsWritten communication skillsCreative problem solvingOrganizational skills

Required

Minimum of 1 year of recent experience in mortgage, preferably in processing

Working knowledge of loan program guidelines including conventional, jumbo, condo, DPA (IDHA), government loan programs and NQM (DSCR and bank statement)

Proficiency in DU/LP/GUS and Encompass or other major LOS

Ability to calculate income

Strong verbal and written communication skills

Creative problem solver with a positive attitude

Ability to prioritize and multi-task in order to meet deadlines, strong organization skills

Strong sense of urgency and responsiveness along with the ability to demonstrate professionalism