What are the responsibilities and job description for the Loan Opener position at Fay Group?
Founded in early 2008, Fay Servicing is committed to providing innovative servicing solutions for both performing and non-performing mortgage loans. As a specialty mortgage servicer who sees the customer behind every loan, we understand that our customers aren’t loan numbers — they’re homeowners.
Before founding our company, we conducted an exhaustive analysis of the mortgage servicing industry and gained valuable insight into the problems facing mortgage servicers and their customers. With that insight, we set out to build a different kind of servicing company from the ground up.
Come join us on our journey to serve our customers and be the leader in our industry! We are currently looking for a Loan Processor to join our team!
Reporting to Processing Assistant Manager, this position is responsible for initiating the mortgage loan origination process by ensuring accurate and efficient file setup. This position verifies borrower-provided data and supporting documents, ensuring loan applications are complete and in compliance with regulatory requirements. This role performs initial data entry tasks and compliance checks, maintains updated and accurate loan files in the system and ensures all pre-submission requirements are met.
Additionally, this position works closely with loan officers, processors and underwriters to facilitate a seamless progression through the loan process. This role supports timely processing by identifying and addressing missing or incomplete documentation at the earliest stage and serves as a contact for borrowers to resolve loan inquiries and advise on next steps in the loan process.
What you will do for Constructive Loans:
- Complete new loan setups within 24 hours of receiving a completed application to ensure timely processing.
- Request and obtain the necessary documentation from borrowers, such as income verification, credit reports and identification
- Verify all required information and documents in the loan file for accuracy, completeness and compliance with company policies and regulatory guidelines to prevent processing delays
- Serve as the first point of contact for borrowers responding to inquiries regarding loan status, required documents and next steps in the loan process
- Accurately input borrower information into the Loan Origination System (LOS) and update loan files to ensure proper documentation is maintained
- Deliver a compliant loan file to processing to enable timely receipt of loan approval conditions
- Communicate effectively with brokers to ensure seamless coordination and that issues are resolved timely
- Monitor and track the status of loan files to ensure all tasks are completed on time and escalate issues when necessary to avoid delays
- Assist in the identification and resolution of discrepancies in loan documentation to maintain accuracy and prevent errors in the loan process
- Develop domain knowledge of Fay’s business to include an understanding of organizational objectives
- Ensure compliance with Fay’s policies, processes, and practices. Successfully complete all department and company required training
- Model Fay’s Values, Operating Principles, ethical standards, professionalism and code of conduct
- Demonstrate behaviors that align with Fay's Values and Operating Principles
- Perform other duties and responsibilities as assigned
What you will bring to Constructive Loans:
- High school diploma or GED required; Associate or Bachelor’s degree preferred
- 2 years’ experience in mortgage or loan processing or related administrative roles within financial services
- 2 years’ experience in the mortgage servicing industry
- 1 years’ customer service experience in a fast-paced work environment
- Knowledge of state-specific requirements related to loan processing and documentation
- Solid understanding of GFE, TIL and RESPA guidelines and requirements
- Working knowledge of Microsoft Office products (Excel Word, and PowerPoint)
- Encompass software experience and/ or compliance knowledge related to disclosures preferred
- Strong verbal and written communication skills
- Solid interpersonal skills
- Demonstrated analytical skills and problem-solving abilities
- Good judgment with the ability to evaluate and make decisions
- Strong time management skills
- Ability to work effectively in a fast-paced, dynamic environment
- Customer service/ client orientation with strong execution skills and results orientation
- Ability to prioritize numerous tasks and manage shifting priorities
- High level of attention to detail and consistency
- Flexible, open to change; ability to learn new things quickly
- Collaborative; ability to work effectively with others
Equity and Inclusion are embedded into our way of working at Fay. We believe that the best ideas come from having a team that is diverse in backgrounds, experiences, and perspectives. We strive to ensure each of our employees feels valued, respected and included and is presented with equal opportunities to be successful here at Fay. We are proud to be an equal-opportunity workplace. The Fay Group and affiliated companies participate in E-Verify. For more information go to www.dhs.gov/E-Verify. E-Verify is a registered trademark of the U.S. Department of Homeland Security.
