Mortgage Loan Processor - Loan Coordinator

Summit Funding, Inc is one of the oldest still privately owned top 50 national mortgage lenders.  When Todd Scrima, our owner and CEO founded our company in 1995 his dream was not to be the biggest, but to strive to be the best. Our growth mindset, positive culture, and history of stability are just a few things that position our company as a leader in the mortgage industry.

Benefits and Perks:

• Opportunity to further a career in a competitive, fast-paced growing industry where you can make a difference in people’s lives.
• Opportunity to earn competitive compensation including possible bonuses based on performance.
• Full benefits include medical, dental, vision, 401K plus match, 11 paid holidays, paid time off, and more.
• Fun team atmosphere, professional development, and more.

Loan Coordinator - Loan Processor

Starting pay ranges between $18-$29/hr depending on experience plus bonuses based on production

This position requires the ability to work a hybrid schedule in our downtown Chicago office but work from home opportunities will be available.

The Mortgage Loan Coordinator - Processor position contributes to the mortgage loan process by being a key contact for both borrowers and internal partners within Summit Funding to manage a pipeline of loans from contract to close. 

What the Loan Coordinator-Processor is Responsible for: 

• Receive loan applications, obtain credit information for applicants, and collect all needed documentation for loans.
  • Documentation to include: Verifications of Deposit (VOD), Verifications of Employment (VOE), appraisal, title, etc. as appropriate.
• Answer all borrower questions or refer to Loan Officer as needed.
• Verify loans are complete and submit to Underwriting based on Investor and/or Automated Underwriting System (AUS) requirements within 24 hours of receipt of documents.
• Clear any conditions that require communication to title companies, appraiser, employers, surveyors, etc.
• Solve escrow issues without involving the Loan Officer when possible.
• Collect all necessary items needed to prepare the Closing Disclosure (CD) and ensure timely drawing and delivery of the CD in order to meet the expected close of escrow.
• Ensure closing instructions and documents have been released to title 72 hours before closing, and a final settlement statement is issued to the Loan Officer or team 48 hours prior to closing.
• Review all closing statements and compare to signed Good Faith Estimate (GFE) before signings, and correct discrepancies where needed.
• Meet with clients to sign loan documents.
• Send out correspondence including thank you cards, closing cost calculations, etc.
• Maintain a detailed conversation log for each file.

• Minimum of 1 year of recent experience in mortgage, preferably in processing
• Working knowledge of loan program guidelines including conventional, jumbo, condo, DPA (IDHA), government loan programs and NQM (DSCR and bank statement)
• Proficiency in DU/LP/GUS and Encompass or other major LOS
• Ability to calculate income
• Strong verbal and written communication skills
• Creative problem solver with a positive attitude
• Ability to prioritize and multi-task in order to meet deadlines, strong organization skills
• Strong sense of urgency and responsiveness along with the ability to demonstrate professionalism

All your information will be kept confidential according to EEO guidelines.