Loan Coordinator Job Description

Loan Coordinator Job Description

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Loan coordinator provides administrative assistance to commercial loan officers with loan origination, processing, closing and ongoing commercial customer banking relationships.

Loan Coordinator Duties & Responsibilities

To write an effective loan coordinator job description, begin by listing detailed duties, responsibilities and expectations. We have included loan coordinator job description templates that you can modify and use.

Sample responsibilities for this position include:

Processing jumbo loan files, verifying accuracy of documents received and reviewing loan files, to ensure all documents are received and correct
Initiate all correspondence to student regarding the signing of promissory notes, entrance, and exit interviews
Counsel default prevention to students
Prepare mailing correspondence to students, lenders, and servicers
May provide administrative support
Use the ELI and Empower conversion software to convert the loans into the Servicing format
Review all conversion messages, and update tables and definitions as necessary
Escalate all error messages to the New Loan Set-up Manager for review
Review and Complete exception reports to ensure quality on the verification process
Verify new loans (including Home Equities) using the setup packages received at an expert level with a minimum of daily guidance from the New Loan Set-up Manager

Loan Coordinator Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Loan Coordinator

List any licenses or certifications required by the position: W-2, IRS, MI, UCC, BLS, CPR, FSA, HUD, AP, AR

Education for Loan Coordinator

Typically a job would require a certain level of education.

Employers hiring for the loan coordinator job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Education, Technical, Paralegal, Business, General Education, Finance, Communication, Accounting, Real Estate, Business/Administration

Skills for Loan Coordinator

Desired skills for loan coordinator include:

Microsoft Office Products
Bank requirements
Commercial insurance terminology
Forms
Processing and closing
Real estate loan documentation
Government loan programs
Jumbo
Commercial
Organize and execute loan processing functions to meet time sensitive and mandatory delivery deadlines in a high volume

Desired experience for loan coordinator includes:

Independently work with Supervisors and Management within Servicing and Post Closing to obtain direction, clarification, or instruction for loan circumstances outside of standard practice, as documented in the New Loan Verification Manual
Review and update loan information in response to additional documentation received from the Post Closing Department, and close all related tasks
Recommend system enhancement, and programming correction as necessary
Update interface documentation as dictated by enhancement or modification
Plan and complete special research projects as assigned
Responsible for negotiating deliverable dates, and meeting all deliverables, or reporting impediments to completion of any assigned task or project prior to its due date

Loan Coordinator Examples

1

Loan Coordinator Job Description

Job Description Example
Our growing company is searching for experienced candidates for the position of loan coordinator. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for loan coordinator
  • Create and modify departmental Policy and Procedures as necessary
  • Complete incidental department duties as assigned.Search Jobs US
  • Reviewing the loan application package for completeness and accuracy
  • Work closely with Loan Officers and Underwriters
  • Assist with loan approval process as needed
  • Communicate with Operations Manager and Lending Department to help ensure proper time management of file process
  • Works and communicates well with other team members
  • Assists with wires (incoming/outgoing)
  • Understand and comply with industry regulations
  • Maintains customer confidence by keeping client information confidential
Qualifications for loan coordinator
  • Ability to adapt to change.• Works well under time constraints.• Computer literate.• Consistency in order to ensure service levels are met
  • 2 years experience in supporting a senior executive in an administrative capacity
  • At least one year of experience in a call center or at least one year of experience in loss mitigation
  • 2 years of experience in a loss mitigation call center
  • 1 year of highest risk loss mitigation experience in Financial Services
  • Computers, Programs and Design – Proficient in Microsoft Outlook and Microsoft Suite including but not limited to Word, Excel and PowerPoint
2

Loan Coordinator Job Description

Job Description Example
Our company is searching for experienced candidates for the position of loan coordinator. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for loan coordinator
  • Maintains a high level of customer service by being proactive and communicating effectively with borrowers, Loan Officers, Underwriters, external and internal customers, which includes other division employees, including Management
  • Develops and maintains effective pipeline management to meet processing turn times and transaction deadlines
  • Obtains and maintains thorough product knowledge with respect to the Bank and Secondary marketing guidelines and compliance regulations
  • Performs duties and tasks that are frequently non-routine
  • Reviews student loan accounts and establishes telephone contact with student loan borrowers, endorsers or co-signers
  • Assists students in understanding and successfully managing loan obligations by educating borrower on repayment and deferment options available
  • Conducts three way calls with borrowers and lenders/servicers to resolve delinquent borrower accounts
  • Initiates skip tracing on accounts with bad addresses or phone numbers when needed
  • Enters accurate caller information into database
  • Receive all loan files from Mortgage Banker via email or paper form
Qualifications for loan coordinator
  • Customer Service Skills – The ability to communicate information and ideas in spoken or written form so that others will understand
  • Communication – the ability to effectively communicate (verbally or in writing) to wide audience
  • Strong written and verbal communication skills organizational skills are required
  • 1-3 years' experience in an operations/process environment required
  • Years of data processing experience required
  • Must have experience processing and balancing general ledger transactions
3

Loan Coordinator Job Description

Job Description Example
Our company is looking to fill the role of loan coordinator. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for loan coordinator
  • Load files for processor to review
  • Order all third party documents
  • Obtain items required to process the loan file as instructed by Mortgage Banker or Processor
  • Track the ordering of documents and communicate with Processor regarding the status of each order
  • Review items ordered for accuracy and load these items to system
  • Maintain the document tracking report daily via excel
  • Meet regularly with staff to keep communication on loan files current
  • Confirm closing date with the LO and communicate with the listing/selling agents
  • Conduct extensive customer interaction via inbound and outbound calls in both a "dialer" and manual environment
  • Processing FHA loan files, verifying accuracy of documents received and reviewing loan files, to ensure all documents are received and correct
Qualifications for loan coordinator
  • Ability to act independently and proactively in order to clear all loan conditions and expedite a transaction to closing
  • 2 or more years of experience with a broad understanding of all facets of mortgage loans or equivalent combination of experience, education, and/or training as an Associate Loan Processor, Loan Processor and/or Senior Loan Processor.• Knowledge Loan Processing and Underwriting preferred.• Knowledge of Mortgage Banking preferred.• Ability to organize and coordinate projects.• Excellent Customer Service skills
  • Must be able to work overtime as needed during peak periods
  • Proficient in Microsoft Office software preferred
  • Ability to use personal computers within a network environment knowledge of and experience with the Windows environment
  • Academic library experience providing circulation and basic reference assistance
4

Loan Coordinator Job Description

Job Description Example
Our company is hiring for a loan coordinator. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for loan coordinator
  • Documenting and maintaining critical items throughout the boarding process
  • Process Improvement and workflow design from lessons learned
  • Serves as Project Manager on all Loan Boarding Transfers, This includes developing schedules and timelines for each deal and the daily follow up to ensure that each project remains on track and results in a CFPB compliant transfer
  • Evaluate and promote process improvements including ongoing review of all department policies and procedures including scripts and edit checks to ensure they are adequate and cover any changes in the business processes
  • Provide robust reporting to upper management related to status of entire boarding pipeline and projected actions
  • Planning and scheduling of external/internal meetings including logistics and material preparation
  • Planning and coordinating quarterly team building events
  • Overall calendar management
  • Agendas and documentation of minutes for routine staff meetings
  • Office supply fulfillment for department
Qualifications for loan coordinator
  • At least six months customer service experience is required
  • Efficiently and effectively utilize a personal computer and related software including Microsoft Office, the Internet and department specific software
  • Able to interact with employees and outside contacts of all levels
  • Able to interact and respond to customers of all socioeconomic backgrounds
  • Ability to efficiently use standard office applications (Word, Excel, PowerPoint)
  • One year of administrative and mortgage experience
5

Loan Coordinator Job Description

Job Description Example
Our growing company is looking for a loan coordinator. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for loan coordinator
  • Invoice preparation for approval and submission to AP
  • Assist Loan Operations EVP with and/or take ownership of any ad hoc projects as assigned - managing them through completion and providing updates as requested to the leadership team
  • Initiate and coordinate the completion of new RM and RA task lists
  • Coordinate with e3 Coaches on RA training
  • Schedule and coordinate new employee overview and lunch events for Loan Ops personnel
  • Gather and maintain information needed for team organization charts, staffing models, KPM( key performance measurements) and KRI (key risk indicators)
  • Coordinate and assist management team with annual policy/procedure reviews
  • Prepare presentations for KPM and KRI reporting, quarterly department meetings and as needed for scheduled meetings
  • Assist leadership team with identification and presentation of department updates as needed for company intranet or company-wide communications
  • Assists with complex documentation preparation requests, closings and funding as needed
Qualifications for loan coordinator
  • Ability to learn and accurately utilize all necessary computer applications
  • Ability to follow instructions, policies and procedures
  • Must have at least six (6) months of mortgage loan processing, clerical, administrative support, or related mortgage industry experience
  • Must have strong organizational, time management, and decision making skills
  • Must have strong detail-oriented and multi-tasking abilities
  • Must be professional and have the ability to handle stressful situations and quick turn times

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