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Broker Advocate

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Description

Summary

The Broker Advocate is responsible for processing loan applications in compliance with mortgage lending and applicable investor guidelines. This position is responsible for performing duties such as; analyzing the loan applications, assessing creditworthiness and the likelihood that a loan applicant will be able to repay the debt. The Broker Advocate is responsible for monitoring the loan process and managing the proper expectations with the client and the broker staff through closing. Based on these assessments, Broker Advocate is skilled at handling all aspects of processing a streamline refinance loan (VA) including broker contact and submitting for final underwriting approval.

Job Functions may include:

  • Excellent Customer Service. The Broker Advocate is the sole broker contact and may act as liaison between the broker and underwriter. The broker advocate is required to provide periodic status updates, and timely return all incoming inquiry.
  • Verifies, compiles, and types application information for mortgage loans and or titles: Reviews residential loan application file to verify that application data is complete and meets establishment standards, including type and amount of mortgage, borrower assets, liabilities, and length of employment and marital status.
  • Recommends that title and loan not meeting standards be restructured or denied.
  • Prepares loan application file for underwriting approval.

Other Related Duties:

Performs other related duties as assigned.

Supervisory Responsibilities:

This job has no supervisory responsibilities.


Qualifications:

To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job.

Education and/or Experience:

Minimum high school diploma or general education degree (GED) required. Minimum 4-year previous experience in a mortgage processing environment required. Previous experience as a Loan Coordinator or related knowledge required.  Must be able to work independently or as part of a team in a high-paced environment.  Working knowledge of MS Office skills required. 

Language Skills:

Excellent verbal and written communication skills required.  Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.  Ability to write reports, business correspondence, and procedure manuals.  Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.

 

Mathematical Skills:

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.  Ability to apply concepts of basic algebra and geometry.

Reasoning Ability:

Ability to carry out detailed written and/or verbal instructions. Ability to solve problems involving concrete variables in standardized situations. Ability to define problems, collect data, establish facts, and draw valid conclusions.

Certificates, Licenses, Registrations:

None required

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.  While performing the duties of this job, the employee is frequently required to sit and talk or hear.  The employee is occasionally required to stand; walk; use hands to finger, handle, or feel; and reach with hands and arms.  The employee must occasionally lift and/or move up to 25 pounds.

Work Environment:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.

 

Employer’s Rights:

This job description does not list all the duties of the job. You may be asked by your supervisors or managers to perform other duties. You will be evaluated in part based upon your performance of the tasks and functions listed in this job description. The employer has the right to revise this job description at any time. The job description is not a contract for employment, and either you or the employer may terminate employment at any time, for any reason.