Offer summary

Qualifications:

Bachelor’s degree in Finance, Real Estate, or a related field preferred., Previous experience as a Loan Processor or similar role in the real estate industry., Strong understanding of real estate loan processing and underwriting guidelines., Proficiency in loan processing software and Microsoft Office Suite, with intermediate Excel/Google Sheets skills..

Key responsabilities:

Review and verify loan applications for accuracy and completeness.

Collect and analyze financial documentation from clients and work with stakeholders for timely processing.

Maintain organized loan files and ensure compliance with regulations while updating clients on their application status.

Run third-party checks and manage financial data to assist in loan sizing and reporting.

Job description

Outsource Access is on the lookout for a detail-oriented and enthusiastic Real Estate Loan Processor to become a vital part of our vibrant team. In this position, you will oversee and process loan applications for real estate transactions, providing a smooth and enjoyable experience for our clients. We’re looking for someone with a solid grasp of lending guidelines, outstanding organizational abilities, and the knack for excelling in a fast-paced setting.

As a Real Estate Loan Processor, you will work closely with clients, lenders, and other stakeholders to ensure all necessary documentation is collected, verified, and processed accurately and in a timely manner. You'll also play a critical role in managing financial data, generating reports, and ensuring compliance with industry regulations.

Responsibilities

Loan Application Processing:

Review and verify loan applications for accuracy and completeness.
Collect and analyze financial documentation from clients, including income statements, credit reports, and tax returns.
Work with underwriters, loan officers, and real estate agents to ensure timely processing of loan requests.
Maintain an organized system for loan files and documentation, ensuring compliance with regulations.
Monitor and update clients on the status of their loan applications.
Provide excellent customer service, addressing client inquiries throughout the loan processing journey.

Document Management and Review:

Collect and code all documents received from clients/borrowers, updating the document checklist.
Approve or reject documents based on specific guidelines, and follow up with clients for resubmission of rejected documents.
Identify red flags or potential issues in documentation and update internal systems accordingly.
Notify the team when the loan package is complete and ready for submission.

Third-Party System Updates:

Run third-party checks such as iSoftPull, Clear, UCC Searches, PACER, and OFAC on Key Principals and Entities.
Push bank account data from Plaid to Heron for transaction coding and proxy financial creation, or upload statements manually if needed.

Financial Data Management:

Enter Trailing 12 financial data into models to assist in loan sizing.
Prepare property schedules (address, valuation, debt) and generate 12-month financial projections for review by the Senior Underwriter.
Update internal credit scores and complete specific sections of investment memorandums, including property details and market characteristics.

Pipeline and Reporting:

Update deal statuses in the internal system and participate in underwriting meetings to present findings.

Requirements

Bachelor’s degree in Finance, Real Estate, or a related field preferred.
Previous experience as a Loan Processor or similar role in the real estate industry.
Strong understanding of real estate loan processing, underwriting guidelines, and relevant regulations.
Proficiency in loan processing software, Microsoft Office Suite, and intermediate-level Excel/Google Sheets skills.
Excellent attention to detail, organizational skills, and communication abilities.
Ability to work independently and manage multiple tasks in a fast-paced environment.

Benefits