Associate Loan Officer

About the role

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.

Pay

The expected base salary range for this position is [$ Minimum Amount] to [$ Maximum Amount] annually or hourly.

Responsibilities

• Support one or more Vice President(s) of Mortgage Lending (VP) with tasks related to increasing their production, efficiency, and quality of work.
• Originate loans on behalf of the VP(s) supported and independently source new business.
• Handle pre-application through post-closing client interaction, including taking applications and entering loan data into Encompass.
• Assist the VP in executing their business plan and growth strategy.
• Actively licensed and sponsored by the company, mirroring the licensing footprint of the VP(s) supported.
• Ensure pricing elements (CO, Cap, etc.) match those of the VP(s) supported.
• Independently market oneself and access the Marketing Menu and company technology (Digital Mortgage and other tools).
• Take applications from the VP’s clients in person and by phone, performing required and permitted licensable activities.
• Prepare preapproval letters after qualification according to company policy.
• Provide phone and email support, maintaining organized files and work environment.
• Maintain calendars, schedule meetings and closings, and follow up with customers and potential borrowers.
• Monitor loans from application through closing, maintaining effective communications with customers, referral sources, and loan support staff.
• 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.
• Track and approve Closing Disclosures (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.
• Perform 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 PODO.

Skills

• 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 in a fast-paced environment requiring strong organizational skills and analytical acumen.
• Excellent time-management skills with ability to multitask and meet deadlines.
• Familiarity with mortgage industry and GRI loan processes.
• Ability to multitask 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 challenges with loan files.

Benefits

• 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).
• Other supplemental benefits (e.g., legal planning assistance; identity theft protection; wellness resources).