Associate Loan Officer

Rate is one of the nation’s top retail mortgage lenders, delivering a seamless, tech-driven experience that helps customers reach their homeownership and financial goals. Founded in 2000 and based in Chicago, Rate is licensed in all 50 states and D.C. and has helped over 2 million homeowners with a wide range of loan products, competitive rates and personalized service. With 5,000+ employees across 300+ offices and 12+ subsidiaries, Rate’s Loan Officers rank among the best in the country. From purchases and refinances to tapping into equity, Rate makes financing faster, simpler and less stressful. Our technology — including Same Day Mortgage, the Rate App, FlashClose℠, MyAccount and the Language Access Program — has earned recognition from HousingWire, Scotsman Guide, NerdWallet, the Chicago Tribune and Crain’s Chicago Business. Learn more at rate.com.
Job Profile:
Associate Loan Officer
Job Description Summary:
We are committed to providing a competitive and equitable total rewards package. The compensation for this role is designed to attract, retain, and motivate top talent.
The expected base salary range for this position is [$ Minimum Amount] to [$ Maximum Amount] annually or hourly.
Job Description:
The central focus of an Associate Vice President of Mortgage Lending (AVP) is to support one or more Vice President(s) of Mortgage Lending (VP) with a variety of tasks related to increasing their production, efficiency, and quality of work. An AVP's tasks are divided between 3 important components including1) Loan Origination on behalf of the VP(s) they support, as well as independently originating business from new sources; 2) Pre-application through post-closing client interaction, including taking of applications and Loan data entry into the operating system, Encompass; 3) Market and otherwise assist the VP execute their business plan and growth strategy.
Essential Duties and Responsibilities
AVPs are required to be actively license and sponsored by the company and must mirror the licensing footprint of the VP(s) they support. All pricing elements including the CO, Cap, etc. must also match the VP(s) they support. AVPs may be compensated differently for loans originated by the AVP on behalf of the VP(s) they support compared to loans they independently sourced and originated. AVPs are permitted to independently market themselves, and hae access to the Marketing Menu of options, as well as the company;s technology including Digital Mortgage and other tools to support them in originating loans independently.
Essential Duties and Responsibilities
Taking applications from the VP's clients in person and by phone, performing required and permitted licensable activities, and otherwise supporting origination activity
Take applications, independently sourcing, and originating loans, and performing other permitted licensable activities to generate new business and origination opportunities
Ensuring applications are complete and entering notes into the file for processing as directed
Prepare preapproval letters after qualification according to company policy
Phone and email support including checking messages, returning calls, and correspondence to maintain organized files and work environment
Maintaining calendars and scheduling meetings, closing and creating calendar invitations, and following up timely with customers and potential borrowers
Monitor the loan from application through the closing process, maintaining effective communications with customers, referral sources, and loan support staff
Pipeline Inspection: review the pipeline to check for challenges and assess daily turn times to minimize lock expirations, missed contingency, and scheduled close times
Lock, update, change, or extend investor locks with Commitment Desk as necessary
Change/extend loans and request pricing expectations as needed or requested
Track and approve CDs for closing and educate borrowers on process and terms
Obtain and track CDs, check final numbers, and call borrowers with the dollar amount necessary to close
Database management including coordinating monthly correspondence to borrowers who recently closed a loan
Coordinate with the Marketing Department to create marketing materials for agents
Complete tasks in a timely manner and work amicably with others and the POD
Other duties and responsibilities as assigned
Skills and Competencies
Excellent customer service skills and strong work ethic
Exceptional verbal and written communication and listening skills with ability to communicate with multiple levels of management and influence others
Ability to work a fast-paced environment that will require strong organizationals skills and analytical acumen
Excellent time-management skills and follow up and follow through with ability to multitask and meet deadlines
Familiarity with mortgage industry and GRI loan processes
Ability to multi-task with strong attention to detail while meeting deadlines in a fast-paced environment
Proficient in Microsoft Office Suite including Outlook, and loan origination system (preferably Encompass)
Ability to think strategically to solve problems or challenge with loan files
Additional Job Description Summary:
Rate is an Equal Opportunity Employer that welcomes and encourages all applicants to apply regardless of age, race, sex, religion, color, national origin, disability, veteran status, sexual orientation, gender identity and/or expression, marital or parental status, ancestry, citizenship status, pregnancy or other reason protected by law.
The company offers a comprehensive benefits program to eligible employees, including eligibility to participate in a company-sponsored 401(k); vacation benefits; eligibility for medical, dental, vision, and prescription drug benefits; flexible benefits (e.g., healthcare and/or dependent day care flexible spending accounts); life insurance and death benefits; critical care insurance; personal accidental insurance; commuter benefits; pet insurance; certain time off and leave of absence benefits; well-being benefits (e.g., employee assistance program); and other supplemental benefits (e.g. legal planning assistance; identity theft protection; pet insurance; wellness resources).
Please click this link to learn more about our benefit offerings for Washington State: Benefit Offerings for Washington State