Loan Originator Assistant

Merchants Mortgage & Trust Corporation ( MMTC ) is a private real estate lender headquartered in Denver, Colorado. MMTC specializes in short term residential bridge loans for investors, Multifamily loans, commercial loans, construction loans and rental property loans. MMTC originated over $700 million in loans in 2023 and is on pace to originate $1 billion in 2024 MMTC was acquired by KKR, a leading global investment firm, in 2022.Job: Loan Originator AssistantRoles and ResponsibilitiesFollow-up and request closing items from borrowerReview and confirm borrowers insurance agents contact info and provide insurance agent with required hazard insurance coverage required and make sure insurance is in-place before loan closingCollect and review all borrower entity documents to understand the structure and input such information correct into the LOS systemWork with borrower to correct any findings from the processing department in the entity documents that require corrections prior to closingReview and clear all approval conditions from the credit committeeEnter data entry into the loan producer system (LOS) to put the loan into loan processingManage all communication with processing departments and borrower to ensure all loans are funded and closed in accordance with close of escrow dates on contractsMeet all funding conditionsCollect a detailed construction budget from borrower and verify with the Draw department that budget meets its specifications before it is uploaded into the LOS systemFollow-up and obtain all approved post-closing conditions and any correction items needed or excluded from closing packagesCommunicate directly with borrowers, loan officers (LOs), business partners and outside vendors to successfully present a complete file for closing and fundingCollect borrowers ACH form completed, signed with a voided check before the closingCollect borrowers signed and completed credit authorization and run borrowers credit and upload credit scores into the LOS systemOnce LO has a deal agreed you will need to send borrowers a check list of items needed to close loan as well as collect all those items and upload them if accurate into the LOS systemPre-underwrite loans in accordance with Company guidelines including reviewing and reconciling loan applications to meet program requirements and analyzing loan application, credit profile/report(s), debt and assets, financial statements, debt service coverage ratios, leverage ratios, appraisal reports, renovation budgets, borrower experience, title reports, collateral, and supporting documentationManage an ongoing pipeline of loans through the Company loan buying processReport on the status of loans within the pipeline on a regular basisPresent loans to Help Desk and/or Credit Committee for exceptions and approvalsCondition files for missing/supporting documentation according to secondary market and Company guidelinesOrder and perform the preliminary review of all third-party reports (i.e. appraisal, appraisal reviews, background reports, inspections, and environmental reports)Collect, analyze, and approve all required due diligencePerform property and market assessments to evaluate property conditions and market/submarket dynamicsCommunicate and document reasons for approval or rejection of loans so borrowers, brokers and loan officers are well-informed of decisionsCommunicate with counterparties and vendors effectively and professionallyMentor and train junior staffQualifications/RequirementsBachelor's degree or some college preferredPrior mortgage experience helpful but not required. Preference for experience with processing or underwriting consumer residential and business purpose loans a plusExperience with institutional lending and secondary market loan trading preferredEffective pipeline management skillsExceptional interpersonal, written, and verbal communication skillsProficient in Microsoft Office, especially in Excel and WordQuick learner with demonstrated understanding of all the nuances required to perform the duties effectivelyDeep knowledge of process across states to effectively and efficiently edit and adjustment document sets on a state-by-state basisEffective communication, organization, and critical thinking skills requiredAbility to be flexible and solve problems to manage multiple sets of expectations across all parties involved with dealIntegrity, attention to detail, and strong customer service skills requiredOtherMust be authorized to work in the US