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
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.
- 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