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Mortgage Loan Coordinator/Set-Up Specialist
Career Insights for Mortgage Loan Officer
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Scorecard
Based on Colorado data
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What they do
A Mortgage Loan Officer assists customers who apply for loans, and solicits loan applications on behalf of a bank, mortgage broker or credit union. Provides information on types of loans available, gathers financial and credit information needed to evaluate loan applications; guides the application and approval process. May partner with real estate agents to offer financing information to potential home buyers. May sell mortgage loans on commission.
$83,601 / year median in Colorado
-26% projected decline
Job Description
Responsibilities:
Work directly with the loan officers and loan processers to assist in obtaining borrower documentation Ensures new Mortgage loans that are submitted for initial disclosures and set-up are complete, in compliance and contain all the information according to the minimum file submission requirements. Send all initial disclosures. Prepare all re-disclosures as required. Completes the set up / ordering requirements for each loan file. Follows up to ensure all documentation is received and accurate. Works closely with the processors for anything additionally required. Handles initial internal locks, re-lock and lock extension request. Answers telephones, answers general questions from borrowers, routes calls and takes messages. Answers mortgage hotline. Returns or forwards member inquiry calls as appropriate. Research and answers member inquiries regarding mortgage payments, balances, escrow management, etc. Back-up loan processors as needed. Back-up onSecondary Market Locks Knowledge, Skills, and Abilities:
Knowledge of Mortgage Processes and Regulations- Understanding of residential mortgage funding, loan documentation, and compliance with federal and state regulations. Two years' experience in mortgage lending or banking required. Attention to Detail and Accuracy
- Ability to review, verify, and process complex financial documents with a high degree of accuracy. Analytical and Problem-Solving Skills
- Strong ability to identify discrepancies, resolve issues, and ensure all transactions meet company and regulatory standards. Communication and Interpersonal Skills
- Effective verbal and written communication skills for interacting with internal teams, lenders, and clients. Organizational and Time Management Abilities
- Capable of managing multiple priorities, meeting deadlines, and maintaining thorough records in a fast-paced environment. Technical Proficiency
- Familiarity with loan origination systems, and standard office applications (e.