#LOA Service – Contact to Contract

1. LO Assigns file for completion/Review

2. Confirm with LO if you are to communicate directly with borrower on file or to LO

3. Fill in any missing info on application (link REO’s to liabilities, enter Rent, etc)

4. Complete income calculation worksheet

5. Labels and uploads documents as received from LO or Client

6. Review credit for Mortgage lates, Foreclosures, Deed-in-lieu, Major Derogs, Name Variations, AMEX payment updates needed, Student Loan payment updates needed, and all other items relevant on the credit report as it pertains to loan approval

7. Verify credit and/or data-verify for SSN variations, AKA records, Maiden Names, Fraud Alerts

8. Order VOEs / work number / one-day certainty as necessary

9. Communicate to LO (by email) if critical docs / info are missing. Specify what is needed

10. Complete company required pre-approval, TBD, and/or submission checklist

11. Help LO determine which files needed to be submitted for TBD underwrite

12. Complete rapid rescores as needed

13. Run DU / LP and analyze findings

14. Verify how client wishes to take title

15. Pre-approval letter, at max approved amount, delivered to LO within 24 hours

16. Updates accurate notes in excel, google-sheets, CRM, and/or loan operating system on status / approval of file

17. Identify and notify LO of credit issues, guideline concerns or income variations

18. Notify LO of paperwork needed for complete file that was not needed for pre-approval

19. Relay any possible pertinent information to the LO (IE – borrower slow to respond or having cold feet)

20. DO NOT discuss rate or terms of the loan with client– this is an LO function only

At Contract:

1. Review client file and request any expired documents (paystubs, bank statements, credit report etc)

2. Update loan application to reflect contract/refi terms

3. Note escrow period, appraisal/loan contingency removal dates

4. Run AUS to confirm Approval, possible appraisal waiver

5. Confirm which account deposit funds are coming from borrower

6. Confirm lender with LO

7. Update escrow/title contact info

8. Prep file for submission to Processor

9. Provide overview of loan for processor, include any potential pitfalls

10. Stay in contact with the client throughout the process and continue to coordinate with title and the Processor

Job Type: Full-time

Pay: $36,000.00 - $72,000.00 per year

Benefits:

• Flexible schedule

Schedule:

• 8 hour shift
• Monday to Friday

Supplemental pay types:

• Commission pay

Experience:

• Sales: 1 year (Preferred)
• Loan origination: 1 year (Required)

Work Location: Remote

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