Mortgage Loan Officer Assistant

Job Description

Job Description

Internally, we call this position a "Pre-Approval Specialist", or "LP2 (Loan Partner 2).

The Loan Partner 2 (LP2) job description outlines a critical role within the lending team, focusing on prequalifying borrowers, issuing pre-approvals, and managing the loan pipeline. Here are the key responsibilities and qualifications for an LP2:

Job Summary

The LP2 is responsible for accurately prequalifying home loan applications, issuing and managing quality pre-approval letters, and overseeing the success of every loan in the committed pipeline. This role requires working cohesively with Loan Officers, borrowers, loan processors, underwriters, and third parties to ensure 95%+ of all loans close on time while providing an outstanding experience from application to close.

Compensation:

$75,000 - $100,000 yearly

Responsibilities:

Prequalify:

• Serve as an available resource for referral partners
• Engage in soft qualification conversations to help assess general borrower readiness and scenario viability
• Answer referral partner questions such as:
• Condo warrantability
• Bank statement borrower scenarios
• Recasting and general loan structure questions
• Communicate effectively with all referral partners (Realtors, financial advisors, builders, and other partners) using clear, accurate, and compliant language

Pre-Approve

• Accurately pre-approve qualified borrowers
• Prepare payment and scenario requests
• Proactively engage pre-approved buyers
• Communicate effectively with referral partners

Pipeline Management

• Onboard all new contracts for rate lock consultation
• Submit applications for processing for disclosures
• Execute borrower updates, pre-closing, and funding calls
• Ensure 95%+ of loans close on time
• Resolve 95%+ of loan issues prior to LO escalation

Qualifications:

• Excellent time management, interpersonal, communication, and follow-up skills
• Strong understanding of mortgage loan products (FHA/VA/CONV/USDA) and knowledge of mortgage documentation, processes, and procedures
• Capable of analyzing credit reports, income, and asset documents, and can structure a loan properly in a variety of ways
• Current NMLS license or must be willing to get licensed within 90 days
• 2+ years of experience as a LOA/Loan Partner, Processor, Loan Officer, and/or Underwriter required, 5+ years preferred

About Company

GoRascal revolutionizes the mortgage industry by combining Scott Valins's deep experience and service-first attitude with David Williams's operational and growth expertise. Together, they foster an innovative environment emphasizing education, positivity, and perseverance. They aim to transform the mortgage experience into a transparent, efficient, and client-centered journey.

By instilling a unified service-first culture across their team, GoRascal commits to providing clients with tailored mortgage solutions swiftly and effectively. This approach not only raises the industry standard but also ensures a seamless, positive experience for every client involved, embodying their mission to make the mortgage process more accessible and less daunting for everyone.