Mortgage Loan Processor

Loan Partner Chicago, Illinois


We are hiring for Experienced Mortgage Loan Officer Assistants – Partners for our growing Chicago office. Our people are what makes Summit Funding such a fantastic place to work! Our ideal candidate has a heart for helping people, knows how to match borrowers with the right loan, has strong attention to detail, is outgoing, surrounds them self with A players and is driven to succeed.

Intrigued?  Keep reading our Job Summary:

The Loan Partner II will oversee the origination, file management, communication, and revenue of the Loan Officer and Team. This position will be in direct communication with Clients, Realtors, Builders, and Business Partners. This position requires time management, precise verbal and written communication and have working knowledge of all major investors and their guidelines.  Every hour you work should save the Loan Officer one hour of time. 

 Top 3 responsibilities and how you will be measured: 

  • Collect all Loan Conditions.

Measurement:  90% of purchase loans close on time 

  • Manage 80% of pipeline issues

Measurement:  Loan Consultant spends 5+ hours per day taking loan applications or meeting referral sources in person 

  • Perform all update calls

Measurement:  Loan surveys come back with 8+ average scores 

Essential Duties of the Position:

  • Prequalifies clients to include discussing, rates, terms and/or financial options.
  • Attends all functions with Loan Officer when required.
  • Complete LPII checklist on all files and adhere to company time frames.
  • Call and obtain conditions from borrowers and Realtors.
  • Meets with clients to sign Loan Application and Disclosures.
  • With new contracts, facilitate the introduction to Realtors via e-mail and facilitate a call from the Loan Officer to ensure positive customer service for our new clients.
  • All files turned into processing within 24 hours of meeting with the borrower.
  • Understands and research’s all investor guidelines and is up to date in any and all program changes that effect the processing or originating of loans in pipeline.
  • Submits complete files to processing based on Investor and/or AUS requirements to get ready for submission to Mother Ship.
  • Clears any conditions that require communication to the clients.
  • Communicates with your team all information pertaining to client and/or property to meet file expectations. 

Essential Duties continued: 

  • Communicates loan approval by sending pre-approval/commitment letters to all parties involved in transaction.
  • Responsible for once a week status calls to all parties involved in transaction (Clients, Realtors, Builder, etc.).
  • Tracks and manages new leads and follows up on referral business.
  • Sends out correspondence – Thank you cards, Closing Cost Calculators, etc.
    Coordinate Closing details with Client – Final Payment, rate, Cash to Close, etc.
  • Assist the Loan Officer with other administrative and/or sales duties as needed.
  • Be able to quote interest rates and lock loans.
  • Solve escrow issues without involving loan officer.
  • Consistently exceed borrower expectations and Realtor/Builder expectations.
  • Set up file using the loan officer checklist and turn into processing.
  • Review all closing statements and compare to signed GFE before signings and correct discrepancies.
  • Assist LPI with putting scenarios together for prospective clients (researching client scenarios with underwriting and investor guidelines).
  • Assist Loan Officer with call backs to prospects that need a phone consult prior to a face to face meeting.
  • Face to face meetings with clients when Loan Officer cannot attend.
  • Re disclose all new loans when there is a change of circumstance.
  • Attend all Monday loan reviews.
  • Attend loan closings if Loan Officer cannot.
  • Continue to assume responsibilities and help the team grow.
  • Obtain 3 current client referrals that go to closing each month. 

Job Requirements:  

  • High school diploma or equivalent.
  • Must be able to work 40 hours per week and overtime as required.
  • Must be proficient in Word, Excel and Outlook applications.
  • Proficient in DU/DO, LP, & major Origination systems.
  • Must have excellent verbal and written communication skills.
  • Must have a positive attitude.
  • Must be dependable, self-motivated and require minimal supervision.
  • Proficient with major correspondent and wholesale channels and their guidelines, including their websites and pricing engines.
  • Minimum five (5) years of mortgage processing, underwriting, originating or combination of all aspects.
  • Must be registered and licensed through NMLS.  

Physical Demands:

While performing the duties of this job, a person is regularly sitting in a normal office environment at a desk using a computer, phone, fax and copy machine. This person may occasionally need to lift up to 20 pounds.  

Work Environment: 

  • Comply with all corporate policies and procedures
Starting pay ranges between 17-25/hr plus potential to earn bonuses.

Summit Funding, Inc. (NMLS #3199) is a full service mortgage lender offering expertise in every area of residential mortgage lending; including purchases, refinancing and construction lending. We have built a strong reputation as an outstanding mortgage firm that serves the lending needs of real estate professionals, builders and individual home buyers throughout the Country. We pride ourselves on our positive culture at Summit Funding, and we know that our diligence in hiring only the best candidates is largely responsible for this culture. Summit Funding has approximately 85 Branch and Satellite Offices in 20+ States and a workforce of over 1,000 Team Members. Compensation for this position will depend on experience. Summit Funding offers a complete compensation package including Medical/Dental/Vision insurance, 401K, Paid Time Off, Flex Spending, Etc. Please do not contact our office for additional information and please do not apply unless you meet ALL the minimum qualifications above. Summit Funding is an Equal Employment Opportunity Employer.