Loan Assistant

First Financial Bank

Job Description

Job Title

Loan Assistant

Department

Mortgage Loans

Status

Non-Exempt

Reports To

Loan Processing Supervisor

Summary

Conducts preliminary review of all mortgage loan applications in accordance with basic underwriting guidelines. Coordinates the receipt and follow-up of all information needed to process mortgage loan applications. Orders all required outside documentation. Evaluates and analyzes customer documents and statements against loan application information for consistency. Performs initial mortgage financial calculations (average income, debt ratio, principal and interest, etc.). Functions as contact to all parties involved in the mortgage loan origination process. Assists Mortgage Loan Originator with business development and customer relations.

Typical Job Entry Requirements

(To perform this job successfully, an individual must be able to perform each essential job duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required.)

• 
  Associates degree and one plus years of business experience or two plus years related experience
• Previous residential mortgage lending experience preferred
• Customer contact experience in a financial service environment preferred

Primary Activities

(Essential duties and responsibilities include the following. Other duties may be assigned. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.)

• 
  Coordinates and communicates directly with customers, staff, real estate agents and vendors to complete the mortgage process.
• Conducts preliminary review of all assigned applications within 24 hours of receipt. Reviews requirements for complete approval as provided by the underwriter. Contacts necessary parties to initiate process of collecting required documentation.

• 
  Upon receipt of documentation, reviews documents for completeness and “verifiable” information. Resolves inconsistencies through contact with document originator. Establishes necessary process for receiving complete and correct documentation.
• Follow up on requested documentation not received in timeframe necessary to meet and exceed customer expectations.
• Serves as primary information source for internal and external customer requests for status of application. Provides regular status updates through appropriate communication vehicle to assure outstanding customer service.
• Maintains and updates applications on Encompass system
• Develops and maintains a basic understanding of underwriting guidelines through study of reference materials, attendance at training sessions, and interaction with underwriting staff.
• Analyzes each mortgage application utilizing a general understanding of individual and unique situations that may require additional due diligence. Requires analysis of the relationship of individual documents to the total application.
• In compliance with general underwriting guidelines, reviews and analyzes contracts, bankruptcy papers, credit reports, paystubs, W-2’s, etc. to ensure consistency with application and other documents presented. Conducts appropriate follow-up and resolution of identified discrepancies.
• Maintains confidentiality with information presented in application files.
• Responds to customer rate calls. Using knowledge of requirements and products provides accurate customer information.
• Assists with development of creative direct marketing items to support origination of mortgage loans.
• Coordinates customer situations in absence of loan originator.
• Through training and publications, stays up-to-date on current trends, practices, and regulations specific to the mortgage industry.
• Participates with Mortgage Originator, on occasion, in community marketing/promotions such as housing seminars, realtor services, and trade shows. Supports Mortgage Originator with planning and preparation for specific events.

Competency/Skill Level

(The behaviors, knowledge, and motivations important to success in the job.)

• 
  Written and Oral Communication skills
• Customer Service Orientation
• Initiative
• Teamwork
• Analytical and Organizational Skills
• Problem Assessment and Solving Skills
• Innovation
• Ability to Work Independently

Key Behaviors

• 
  Provides Proper Telephone Etiquette to Internal/External Customers
• Services Internal/External Customer Requests/Inquiries
• Reviews Required Documentation for Accuracy and Completeness
• Personal Development as Established with Manager

Bank Secrecy Act

• 
  Maintain sufficient knowledge and understanding of the Bank Secrecy Act, Anti-Money Laundering/Anti-Terrorist Financing/PATRIOT Act and OFAC regulations
• To be able to fulfill applicable requirements and responsibilities under the bank’s related policies and programs.

Critical Job Elements

(Essential duties and responsibilities include the following. Other duties may be assigned. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.)

• 
  Generally good working environment with little exposure to noise, extreme temperatures or other adverse factors.
• Limited physical effort required.
• Regularly required to talk and hear. Frequently required to stand, walk, sit, use hands to finger, handle or feel objects, work tools or equipment, and reach with hands and arms. Vision abilities include close vision, distance vision, peripheral vision, depth perception and the ability to adjust focus.
• Average amount of pressure to work efficiently and accurately.
• Average mental effort consisting of normal levels of concentration, memory, complexity of decision making, time pressure, analytical thinking.