Loan Officer Assistant

Description

MAJOR Responsibilities:

Loan Application & Pre-Approval Management

• Review loan applications for accuracy and completeness, including the Loan Story. Complete or assist with loan applications when directed by the Loan Officer.
• Proactively follow up with prospective borrowers, new pre-approvals, and existing pre-approval files.
• Backfill pre-approved files with documentation anticipated for processing and underwriting.
• Request and obtain additional borrower documentation through nCino and other communication channels.
• Review and analyze borrower income documentation by calculating income or utilizing available resources to accurately determine qualifying income, including variable, declining, self-employed, rental, and other complex income types in accordance with AUS findings and applicable investor guidelines.

Loan File Management

• Maintain complete, accurate, and well-organized loan files within Encompass and other company systems.
• Rename and organize documents within the eFolder to company standards.
• Maintain detailed and accurate loan notes within Encompass and CRM.
• Manage loan-related tasks and workflow within CRM and other internal systems.
• Maintain accurate and timely records throughout the loan process.

Compliance and Documentation

• Perform required RESPA and regulatory compliance tasks, including reviewing loan documentation for completeness and accuracy.
• Review and verify loan data, including borrower residency, employment history, mortgage insurance, earnest money deposits, purchase contract information, and closing dates.
• Complete required FHA, VA, Conventional, and investor-specific documentation and compliance requirements.
• Review Loan Estimates, fee itemizations, and supporting documentation to ensure accuracy and compliance.
• Review, analyze, and accurately enter pertinent loan information from the real estate purchase contract into Encompass.
• Prepare and send initial disclosures in accordance with regulatory requirements and company timelines.

Client, Loan Officer & Referral Partner Communication

• Communicate with borrowers as directed or requested by the Loan Officer throughout the pre-processing and processing stages of the loan.
• Contact borrowers regarding initial disclosures and answer general questions regarding the disclosure package.
• Provide timely professional updates to borrowers, real estate agents, and referral partners as directed or requested by the Loan Officer.
• Support Loan Officers with client and referral-partner communications as requested and deliver exceptional customer service.

Assist with Processing

• Order, schedule, monitor, and update appraisals as needed.
• Coordinate documentation and communication with title companies, insurance agents, and other third parties.
• Assist with processing support to ensure files are complete and progressing toward underwriting approval.

Closing Coordination

• Confirm borrowers have reviewed and electronically signed the Initial Closing Disclosure (ICD) within required timelines.
• Communicate final closing information to borrowers, including final cash-to-close figures, closing date, time, location, and cashier's check or wire instruction requirements.

Team Collaboration

• Work collaboratively with Loan Officers, Processors, Underwriters, Closers, and Operations team members to ensure loan files move efficiently through the mortgage process.
• Provide CRM marketing support as requested.
• Demonstrate urgency while managing multiple loan files, competing priorities, and time-sensitive deadlines.
• Identify file issues proactively and communicate concerns to the appropriate team members to minimize delays.

Requirements

MUST HAVE Requirements

Experience

• Mortgage Industry Knowledge: 1-2 years of residential mortgage process, loan terminology, and applicable compliance requirements.
• Program knowledge in Conventional, FHA and VA and documentation requirements.
• Ability to research mortgage guidelines as needed.
• Loan Origination Software Experience: Experience using loan origination software, preferably Encompass, to manage loan documentation, disclosures, and pre-processing tasks.
• Organization & Time Management: Exceptional organizational skills with the ability to prioritize multiple tasks, manage deadlines, and accurately complete assigned responsibilities in a fast-paced environment.
• Attention to Detail : meticulous attention to detail to identify and correct errors, ensure compliance with regulations, and verify the accuracy of all loan documentation.
• Sense of Urgency : Ability to work effectively in a fast-paced, time-sensitive environment while consistently meeting deadlines and maintaining accuracy.
• Communication Skills : Strong written and verbal communication skills with borrowers, referral partners, and internal team members.
• Team Collaboration: Ability to work collaboratively while maintaining a positive, team-oriented attitude.
• Adaptability & Initiative: Willingness to learn new processes, accept coaching, adapt to changing priorities, and proactively identify opportunities to improve efficiency and accuracy.

NICE-TO-HAVE Requirements:

• Two (2) or more years of mortgage industry experience as a Loan Officer Assistant, Processor, or in a similar mortgage operations role.
• Experience using Encompass and other mortgage technology platforms, including Surefire and nCino.
• Experience reviewing borrower documentation for completeness, accuracy, and investor or agency guideline compliance.
• Experience with Non-QM, Brokered loans, and Bond/DPA programs.
• Experience calculating borrower income, reviewing assets, and analyzing credit documentation.
• Ability to build and maintain strong relationships with borrowers, referral partners, and internal team members.
• Demonstrated ability to identify process improvement opportunities and contribute to operational efficiencies.
• Desire to continually learn and develop professionally within Fountain Mortgage.

Physical Requirements

• Ability to work in an office environment, while being seated, standing, walking, typing and speaking.

Security Responsibilities

• Operate in alignment with all company security policies, procedures, and regulatory standards to ensure confidentiality and integrity of data.
• Complete all assigned security and compliance trainings (e.g., BAI modules) within designated timeframes.
• Protect sensitive borrower and company data, including secure handling, storage, and transmission of loan documents and audit materials.
• Limit access to confidential information to only those with a legitimate business need, in accordance with the principle of least privilege.
• Report any suspected security incidents or breaches immediately to the appropriate internal contact or security officer.
• Maintain vigilance in preventing unauthorized access, including secure login practices and safeguarding of credentials.

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