A Mortgage Loan coordinator reviews and processes loan applications for PSI clients. This involves verifying employment information and documentation, contacting clients if any information is missing, and preparing credit reports. This position will provide an exceptional mortgage lending experience to PSI clients, by coordinating between them, the sales agents and PSI affiliated banks, with a strong focus on client satisfaction and meeting credit lending goals.
KEY Responsibilities and Duties within Job Specific Competencies
• To act as a primary source of contact for clients throughout the granting process of loan, right from the initial stage of inquiry to its final close out
• Meeting with clients to perform an initial appraisal of their potential borrowing, which involves finding out information about their income, any debt they may have, and explaining different loan types to them.
• Reviewing credit information to assess whether applicants are eligible for a loan by conducting thorough research on each applicant to assess their credit standing, income data, and any other information that may affect their ability to take out a loan.
• To prepare and submit the loan files for bank approval with a complete financial analysis and summary of the key findings, requests, exceptions, recommendations, etc., with reference to the standard policies
• Scheduling and tracking the contingency dates, closing dates and the loan lock expirations.
• Make product recommendations and work with the PSI clients from time of application through closing.
• Responsible for entry of mortgage applications into a dedicated mortgage loan system, compilation of a complete mortgage loan file, collection and submission of any and all documentation to processing/underwriting, follow ups and closing.
• Prepare and submit mortgage loan applications as defined by PSI and affiliated banks’ loan policies and procedures.
• Monitor and report on application processes
• Review the loan approvals to ensure adherence to the conditions that are necessary for underwriting and closing
• To remain abreast on various policies and procedures, criteria involved while granting a loan, and maintain an updated knowledge on the various bank offers, policies, standards and regulations.
• Participate in the design, implementation and evaluation of the loan program and assess it for its effectiveness.
• To develop relationships with PSI sales agents and provide additional support to PSI clients with different opportunities where PSI products and services can be promoted.
• Make every effort to provide best customer services as well as provide valuable guidelines and consultation to PSI clients.
Essential Skills and Abilities
• Excellent coordination and organization skills and should be ready to work in a highly team oriented work atmosphere.
• Possess good counseling skills to be able to guide the clients and provide them with the best information of the relevant products and services.
• Detail oriented with strong work ethics and should be able to demonstrate strong integrity combined with excellent communication skills.
• Ability to gather, analyze various documents, financial statements, credit reports and should be totally customer centric.
• Good administrative skills, ability to multitask and meet deadlines in a fast paced work environment
• Experience as a mortgage loan coordinator or in a similar role
• Previous banking experience in Credit
• Ability to evaluate the customer’s financial position, and to evaluate a Bank Statement
• Understand the interest rate calculation and the bank documentation requirements & bank process to apply for a Mortgage
• Previous experience in sales or customer support is an asset
• Ability to handle confidential information, privacy and non-disclosure of all personal and corporate information
• Great mathematical and analytical skills
• Excellent organizational skills
• Excellent presentation skills needed to present reports that reflect the mortgage loan programs’ results and document the process
• Excellent written skills including the ability to document processes and prepare mortgage loan findings.
• Strong communication and interpersonal skills as the focal point of contact between PSI agents, affiliated banks, and PSI clients
• Consistency in follow up
• Attention to detail
• Reliability and honesty
• Degree in Finance or Business