Loan Preparation Coordinator

3 weeks ago


Chicago, Illinois, United States Fairway Independent Mortgage Full time

About the Job:

The Senior Loan Processor role at Fairway Independent Mortgage requires a highly skilled professional with extensive experience in residential mortgage processing. The successful candidate will have a strong understanding of state and federal real estate lending regulations and be able to work independently with minimal supervision.

Key Responsibilities:

  • Prepare loan files for residential mortgage applications
  • Communicate with branch and corporate employees in a timely and efficient manner
  • Work closely with Loan Officers to determine product suitability
  • Comply financial and other needed data to complete loan file
  • Order supporting documentation, such as appraisals and verifications of employment
  • Evaluate loan applications for reasonableness
  • Escalate files for further evaluation if necessary
  • Communicate with Loan Officers and borrowers to obtain missing documentation
  • Review files for completeness prior to submission to Underwriting
  • Obtain documentation needed to clear conditions, if required
  • Submit approved files to Closing
  • Prioritize workflow so loans close on time
  • Communicate with title company, appraiser, and other vendors as required
  • Provide excellent customer service to borrowers, Loan Officers, vendors, and other interested parties
  • Prepare and send approval and denial letters
  • Record data on the status of loans, including number of new applications and loans approved, cancelled or denied

Requirements:

  • 5+ years of experience
  • Demonstrated experience in Encompass
  • Demonstrated experience working in a fast-paced and changing environment
  • Demonstrated experience using available information to make sound business decisions
  • Demonstrated experience with attention to detail, written and oral communication, multi-tasking, and working in a team atmosphere adhering to tight deadlines
  • Solid knowledge and understanding of state and federal real estate lending regulations
  • Solid knowledge and understanding of loan processing software systems
  • Solid knowledge and understanding of desktop underwriting programs
  • Extensive knowledge and understanding of customer service and intrapersonal best practices
  • Solid knowledge and understanding of conventional and government (FHA/VA) loan requirements

Estimated Salary: $70,000 - $90,000 per year, depending on experience and qualifications.

Benefits:

  • Competitive compensation package
  • Medical and dental insurance
  • Life and Disability insurance
  • Matching 401(k)
  • Employee Stock Ownership Plan
  • Paid Time Off plus company-paid holidays
  • Employee discounts for wellness, pet insurance, auto and homeowners insurance, and more


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