What are the responsibilities and job description for the Loan Assistant position at The Dominion Group?
Job Description
Dominion Financial Services (DFS) is a mortgage originator for single family real estate. DFS originates two main loan products – a short term bridge loan for fix & flip investors, and a long-term rental loan for landlords growing their rental portfolios. DFS is thriving in the current competitive environment and shows aggressive quarterly growth. Our current origination volume is $70MM per month. DFS is looking for a detail-oriented Loan Administrator to join our growing team.
Our Company's Core Values
Dominion Financial Services (DFS) is a mortgage originator for single family real estate. DFS originates two main loan products – a short term bridge loan for fix & flip investors, and a long-term rental loan for landlords growing their rental portfolios. DFS is thriving in the current competitive environment and shows aggressive quarterly growth. Our current origination volume is $70MM per month. DFS is looking for a detail-oriented Loan Administrator to join our growing team.
Our Company's Core Values
- Integrity
- Accountable & Dependable
- Team Centric
- System & Process Oriented
- Service Ethic
- Organized Efficiency - risk management & compliance
- Maintain accurate and up-to-date records of all loans, ensuring completeness and compliance with regulatory requirements.
- Calculate and issue loan payoffs in a timely manner upon request from borrowers.
- Generate recurring notices across all product lines including, but not limited to, billing statements, maturity notices etc.
- Prepare Verification of Mortgage (VOM) documents for borrowers as needed.
- Generate and distribute IRS Form 1098 for borrowers to report mortgage interest information annually.
- Assist in the preparation and verification of loan documentation, ensuring accuracy and compliance with company policies and regulations.
- Perform data entry tasks to update loan details, changes, and other relevant information into the company's database. (Salesforce)
- Provide excellent customer service by addressing interna and external l inquiries related to loan details, payments, and documentation.
- Conduct periodic audits of loan files to ensure data integrity and regulatory compliance.
- Collaborate with other departments such as underwriting, loan origination, and accounting to streamline loan processing and resolve any issues.
- Stay informed about relevant lending regulations and ensure that all loan-related activities comply with federal, state, and company-specific guidelines.
- Update monthly status reports to the company’s partners.
- Cross-train with bookkeepers to provide additional help when the workload is high, or someone is out of the office.
- Daily reconciliations
- Documenting of deposits, new loans, paid off loans, AR/AP and loan transfers in QuickBooks and Excel
- Generate required reports for loan purchasers upon sale of loan(s)
- High School diploma or GED required. Two-year degree in business, finance or related field preferred.
- Minimum 5 years of commercial and/or construction loan servicing, loan documentation or related job experience in the financial industry.
- Must be able to work a Hybrid schedule.
- Proficient in MS Office particularly MS Excel and MS Word.
- Must possess excellent analytical and problem-solving skills, be detailed oriented with a commitment to a high level of data integrity and accuracy.
- Knowledge of General Ledger balancing and common banking transactions.
- Health insurance
- Dental insurance
- Vision insurance
- 401(k)
- 401(k) matching
- Profit sharing program
- Paid time off
- Employee discount program
- Company outings & social events
- Virtual Events
- Companywide competitions and raffles
- Personal financial workshops
- Orioles season tickets
Salary : $70
