SUMMARY:
Waterstone Mortgage is seeking an experienced Loan Partner to join a growing mortgage team! This role requires strong front-end loan expertise. The ideal candidate is comfortable taking applications, structuring loan scenarios, running credit, pre-approving clients, and clearly explaining loan programs to borrowers. This position is highly client-facing and requires confidence, accuracy, and the ability to manage multiple active files while keeping transactions on track. The role is open to remote and offers the opportunity to play a key role in supporting consistent production and client experience. If this sounds like a good fit for you, we welcome your application!
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Function as the primary contact and liaison between clients, Branch Manager, Sales Manager and/or assigned Loan Originators.
- Responsible for taking applications over the phone and scheduling appointments.
- Work as a liaison for Loan Originators and with processing to help coordinate weekly pipeline meetings with each Loan Originator for accurate file tracking.
- Responsible for submitting complete loan applications for each customer file. By completing all items on the checklist before submission.
- Track all requested documents in Encompass
- Review documentation received within 24 hours of receipt for discrepancies, omitted data, verified income calculation, asset verification and Encompass updates based on verified information.
- Contact customer within 24 hours of receiving the loan file and call them on a weekly basis to give a status update to file
- Phone the realtor to introduce yourself within 24 hours of receiving the loan file and call them on a weekly basis to give a status update to the file.
- Immediately notify Loan Originators when any discrepancies are found on documentation. Loan Originator will determine necessary remedies.
- Respond to customer inquiries and other related parties on a transaction as needed in a timely fashion.
- Run Automated Underwriting with updated Encompass file and read what the required documentation will be that is needed. Make sure that Automated Underwriting results match Encompass.
- Order FHA and VA case numbers on government sites.
- Order Title Commitments, Appraisal and Flood Insurance on the file.
- Responsible to meet deadline dates on the loan contracts along with rate lock expiration dates.
- Partner with Loan Originators in resolving problems on files/documents.
- Ensure files are complete and set-up in accordance with WMC policy and procedures.
- Attend all Branch/team meetings.
- Maintain contact with client throughout loan process.
- Maintain up-to date status information for all files with a weekly meeting scheduled with the Loan Originators keeping them on track, notified of all transaction details and status of closings.
- Call the customer and realtor referral partners every week, preferably picking the same date weekly to give a status update on the loan file.
- Ability to maintain pipeline of 15 files or more and or two or more Loan Originators.
- Reviews approved mortgage loans to determine conditions that must be met prior to closing. This includes but is not limited to all documentation that pertains to the loan file private mortgage insurance, title, hazard insurance and flood determination and other underwriting conditions as outlined by the Underwriter. Ensure that all items are cleared and proper documentation is in each file prior to completing the closed package.
- Once file is out of Underwriting if additional documentation or information is needed for the file, immediately notify the borrower. Maintain a sense of urgency and inform the customer we need this information within 48 hour
- Set reminders of loan commitment and closing dates to meet these deadline dates
- Verify accuracy and consistency of information in file to ensure “closing” documents are prepared according to investor/product guidelines and work closely with the Loan Processor to assure the file is ready for closing.
- Answers question regarding closing requirements from, but not limited to other staff members, vendors and investors.
- Communicate with Title companies, Realtors, Loan Originators and Borrowers to schedule/confirm the time, day and place the closing will take place.
- Responsible for the development, implementation and management of an “annual review calls” with clients.
- Knowledge of current state's mortgage lending laws
- Cross training ability to learn other positions to help the Branch when vacations and illness occur
- Must be able to work under pressure.
- Must possess excellent organizational skills.
- Maintain strict confidentiality regarding customer's account and other information.
ADDITIONAL DUTIES:
- Complete any additional duties assigned by management
- Complete regulatory and compliance certification and training, as required.
- Assist WMC employees and departments as needed
ATTRIBUTES OF SUCCESSFUL LOAN PARTNERS
- Outgoing
- Flexible
- Punctual
- Self-driven
- Motivated
- Goal Oriented
- Team player
QUALIFICATIONS: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and/or EXPERIENCE: A high school diploma or general education degree (GED) is required as well as five years of conventional fixed and ARM, HELOC and construction mortgage loan processing experience. Extensive knowledge of VA and FHA products is required.
COMPUTER SKILLS: Proficient knowledge in Microsoft Office is required. Prior experience on Encompass LOS system or other mortgage processing software is required, DU, LP and other automated engine submissions experience is preferred.
CERTIFICATES, LICENSES, REGISTRATIONS: A federal registration through Nationwide Mortgage Licensing System (NMLS) is required. However, individuals in this position are not eligible to receive loan officer commission.
Individuals in this position shall not engage in loan origination during the course of his/her employment with WMC. Loan origination is defined as (1) taking a residential mortgage loan application; or (2) offering or negotiating terms of a residential mortgage loan for compensation or gain; (3) advertising or communicating to the public that you can perform loan origination services. Please see the Loan Originator Compensation Policy for more details on the definition of loan origination.
