Sample Job Description for Loan Coordinator

Following is a sample job description template for the position of loan coordinator; you can edit and use it for your organization.

Job title: Loan Coordinator

Years of Experience: 1 to 3 Years

Job Type: Full Time Employee

Education Level: Bachelor’s degree

Job Summary:

Insurance Overload Staffing is seeking Loan Coordinators that will be responsible for providing support to the assigned Loan Specialist.​ The primary focus of the position is to manage the clerical/​administrative and loan processing duties.​

Duties and Responsibilities:

  • Submit the closing transmittal and all additional documents to the closing department.​
  • Complete closing transmittals
  • Gather all conditions and submit to underwriting for final approval.​
  • Make sure all information in the file is consistent such as the address, loan amount, interest rate, etc.​
  • Capable of independently processing the most complex loans.
  • Meets performance standards and goals established by the bank.
  • Maintains positive working relationship with brokers, realtors, builders, referral sources, and other customers.
  • Submits approved loan application to closing or initiates action on canceled/rejected loans.
  • Reviews all documents, works loan up and submits file to Underwriting, communicates with borrower/realtor/builder to provide current status reports, and may issue commitment letters.
  • Orders all necessary supporting documentation.
  • Responsible for reviewing applications for completeness.
  • Responsible for processing residential loan applications.

Position Requirements:

  • Coordination of submission throughout loan origination process—underwriting, quality control, closing, funding
  • Generate preliminary underwriting documents
  • Conduct income verification
  • Order appraisals
  • Strong communication skills; candidate must be helpful, patient and informative while assisting clients with gathering necessary documentation to keep the loan process moving
  • Loan processing experience and general mortgage industry understanding

Salary: $12.00 – $13:00 Hourly DOE