Loan Officer Assistant
Job in
Schaumburg, Cook County, Illinois, 60159, USA
Listed on 2026-01-24
Listing for:
Key Mortgage Services
Full Time
position Listed on 2026-01-24
Job specializations:
-
Finance & Banking
Loan Officer, Banking & Finance, Loan Servicing, Mortgage Loan Originator / Advisor
Job Description & How to Apply Below
Overview
The Loan Officer Assistant (LOA) provides comprehensive support to one or more Loan Originators throughout the loan file production and submission process. This role focuses on delivering an exceptional experience to borrowers and referral partners while ensuring loan files are accurate, complete, and compliant with Key Express submission requirements. By managing day-to-day file support, the LOA enables Loan Originators to dedicate more time to business development and relationship building.
Responsibilities- Submit concise loan applications for the Loan Officer by auditing, reviewing and validating data entry to match supporting documentation
- Communicate with and support Loan Processors to obtain conditions
- Assist clients and guide them through the mortgage pre-approval process
- Review supporting documents and information to determine what is needed
- Track outstanding items on all loan files and follow up with borrowers for additional information and documents using point of sale system, Glyde, to ensure timely receipt of necessary documentation
- Run AUS and notify the LO that the file is ready for review and Pre Approval
- Understand income sources and accurately calculate borrower qualifying income
- Analyze credit reports to understand liabilities and identify potential issues
- Calculate housing and expenses ratios
- Utilize AUS tools (DU/LP) findings to obtain eligible/accept recommendations
- Other duties may be assigned to provide coverage or additional administrative assistance
- Has the ability to assist in discussing rate and terms with clients
- Able to originate loans either for themselves or on behalf of the loan officer they support provided it does not impede the required support functions
- Have knowledge of and ability to interpret mortgage program guidelines utilizing the available tools and software
- Minimum of 3 years loan processing or origination experience including conventional and government loan programs
- Proficient in working with LOS system Encompass
- Understanding of agency automated underwriting systems DU and LPA
- Experience in communicating verbally with borrowers and referral partners
- Has the ability to multi-task in a very fast paced environment
- Excellent written and verbal communication skills
- Must be organized, consistent and detail oriented
- Medical
- Dental
- 401k with match
- Paid Time Off
- Volunteer Time Off
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