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LP2 Loan Processor With Extreme Customer Service

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Updated May 08, 2019
Job Description

Mega Mortgage needs someone to directly handle clients from loan application to loan funding. The job title is LP2 - Loan Partner 2.



The current application pipeline is 26 and will increase to 35 when an LP2 is added to the team. When we get an LP2 we will close 4-7 per month. We are a small shop working on growing so it is one LO and one document setup person so the LP2 will perform many tasks. So this is not the ideal job for a senior processor with 10+ years processing unless you like doing all the paperwork and enjoy lots of interaction with the client.



The LP2 handles the loan from application to funding, while regularly communicating with the borrowers and realtor/builder to keep them up to date and give them realistic expectations of their loan timeline. LP2’s delivers WOW service. It combines a processor role & the loan officer role, without the cold calling part of the loan officer.



The LP2 is not responsible for these tasks but the loan officer is …generating leads, cold calling, realtor & builder relationship building, loan consultation.



TOP 3 DUTIES of the LP2

Deliver WOW service - this is the customer service part
Manage the Pipeline to close on time - this is the technical part and the organizational skills
Outstanding Tuesday Updates - this is the communication part
Deliver WOW service Contract/Plans to Funding

Answer questions of borrowers
Answer questions of realtor & builders
Be sure docs received matches checklist
Send client needs list within 24 hours
Work with borrowers to get docs within 48 hours
Do as much as you can for client & realtor & builder
Listen for concerns or ways to wow client and their realtor / builder
Fully check and verify loan details when received
Manage the Pipeline to close on time

Handle disclosures, appraisal, title, insurance, underwriting, payoff, survey & closing - yes you need to be a document lover
Update calyx & database as things come in
Follow TRID rules
Attend closing if loan officer cannot
Get all conditions from borrower
Must close all loans on time
Pipeline meeting every Monday
Keep all files to comply with the privacy laws
Work on one file on desk at a time with a to-do list
Keep loan status up to date
Organize & calculate assets/income
Follow database checklist
Submit to UW within 48 hours of receipt
Outstanding Tuesday Updates

Update calls to clients only – Loan Officer does the Realtor & Builder updates
Written update as well as phone call
Give a clear and thorough update
Ask them how your service has been, if great, ask who else we can help (and keep track of these). This is the 10% sale part of this job.
Qualifications and Skills



Required Work experience - (the more well rounded experience contract to funding is better than just a narrow part of the process)

2 years of experience with any combination of the following roles Loan Officer, Processor, Processor assistant, or Loan Officer assistant or combination
You have worked on 50+ loan files
you know the steps to closing a home purchase or refinance loan
Personality needed -for the LP2 job the biggest personality needed is get the loan closed AND wow customer service. Another way to say it is you really get fulfillment from getting it done AND helping others



Hours: 8-5 M-F with 1 hour lunch or 8:30-5 with 30 minute lunch



There are occasional times when you will need to stay late and hour or so. Overtime will be offered from time to time but rarely required.



Job Requirements:

Have your own transportation.
Able to work in the US.
Able to communicate in English (written & spoken).
Able to handle basic computer, email, & phone tasks.
Able to perform/learn customer service skills and loan processor skills.
Working from home may be a possibility but only if a local person cannot be found, in this case a no distraction workplace and high speed internet is required.
Commute 30 minutes or less to office location of FM 1488, Magnolia, TX 77354, assuming you are not working remote.
Benefits



Pay is $13-$25 hourly, depending on productivity, experience, work ethic, and personality. This is a W2 full?time position, 40 hours per week, paid on a bi?weekly payroll schedule. There will be an initial 3 month, introductory period to make sure you are a good fit for the company and the company is a good fit for you.



There is no 401k benefit.



There is no medical insurance benefit.



Bonus: This position is eligible for bonuses for each loan over 6 funded loans in a month, when the previous month had 5 or more funded loans.



Overtime: When we are busy overtime can be authorized for this job but rarely required.



Vacation- 2 weeks per year - vacation time is not available during the initial 3 month introductory period.



Holidays-

New Years
Easter
Memorial Day
July 4th
Labor Day
Thanksgiving
Black Friday
Christmas
½ day Christmas Eve
½ day New Years Eve
Application Requirements

Be aware that after a job interview and before any job offer is sent, you will need to authorize the pull of a credit report and drug test.
Before any hourly rate is discussed you will need to provide a recent paystub with YTD and W2s/1099s for 2018 & 2017.
To Apply for this job follow these steps



1. Send your resume through Indeed.
2. When your resume is received, if your phone number is on your resume you will receive a text with an email address to send your personality profile and answers.
3. Email your Personality Profile to the email provided– you can find the Personality Profile by googling 'disc profile free tony robbins”.



4. Email the questions below with your answers to the email provided.



Questions:



1. How many house/land loans have you closed?



2. On a scale of 0-10 (10 is best), how do you rate these tasks with your proficiency & eagerness to do them? (rate each task separately & rank your proficiency separately from your eagerness)



Task



- Customer service ___ ___



- Filling out forms/paperwork for a loan___ ___



- File naming documents___ ___



- Gathering docs from clients___ ___



- Calling clients with their weekly status___ ___



- Analyzing how to get a loan to close___ ___



- Looking up guidelines___ ___



- Calculating income___ ___



- Sending loan disclosures___ ___



- Explaining loan disclosures documents to borrowers___ ___



- Locking an interest rate___ ___



- Requesting payment for appraisal from borrower___ ___



3. Are you okay working the hours 8am-5pm with 1 hour lunch (or 8:30am-5pm with ½ hour lunch)?



4. Are you okay with staying late (6 or 7pm) 1-2 times per month with last minute notice?



5. Are you okay with being on call until 7pm 2 days a week and one Saturday a month, 9am-7pm?



6. What hourly rate as a customer service loan processor are you currently worth?



7. What hourly rate do you need to receive for you to be comfortable with the job?



8. Why are you leaving (or did you leave) your most recent job?



9. Why did you leave the job before that?



10. Why did you leave the job before that?



11. Describe in detail the work task that fits your personality. What work tasks can you do all day long without being exhausted at the end of the day? What actions or tasks or emotions energize you … talking with people, organizing papers, analyzing problems, finding solution, negotiating with people, laying out a document, collecting data, giving speeches …?



12. Are you fluent in Spanish?



13. What is your birth order? Out of how many children?



14. There are 4 types of people…



- want to win



- want to be liked by others



- want to be comfortable



- want to be right / figure out the best way



which one is your first type and which one is your 2nd?



..................



For those with loan processing / origination experience, please answer these questions ...



15. What is YTD on a paystub and why is it important?



16. How do you calculate income for a self employed borrower?



17. For a borrower with a part time job, what are the requirements and why are they important?



18. How long should it take for a purchase loan to get through underwriting? Why?



the next few questions deal with these different types of loans ...FHA, VA, Fannie Mae, Freddie Mac, USDA, construction loan, land loan



19. What are the major differences in the fees and rates between these loan types?



20. What type of borrower is each loan type best suited for?

Skills Required

Job Requirements:

Have your own transportation.
Able to work in the US.
Able to communicate in English (written & spoken).
Able to handle basic computer, email, & phone tasks.
Able to perform/learn customer service skills and loan processor skills.
Working from home may be a possibility but only if a local person cannot be found, in this case a no distraction workplace and high speed internet is required.
Commute 30 minutes or less to office location of FM 1488, Magnolia, TX 77354, assuming you are not working remote.

Compensation:

hourly $15-$25

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