TPO Loan Setup Specialist Job Opening

Luxury Mortgage Corp (“LMC”) is a mortgage banker licensed in 31 states with offices in NY, NJ, CA, MA ,MI, and FL. Founded in 1996, the company is headquartered in Stamford, CT. We are an innovative, growing and diverse company looking for dedicated professionals to join our team. If you feel one of the positions below are right for you, please complete an application and our Recruiting Team will contact you.

Position Overview

The Loan Setup Specialist’s primary responsibility is to monitor the loan opening queue within Encompass and timely and accurately send applicable state and federal disclosures to borrowers in connection with both banked and brokered loans.  The Setup Specialist is also responsible for re-disclosing loans when required by company policies, and state and federal rules and documenting the related change in circumstances.  The position reports to the Managing Director of TPO.

General Responsibilities

  • Identify new files in opening queue
  • Manage the broker submission queue
  • Review files and make sure they are accurate and complete
  • Communicate directly with the brokers should any items be missing for submission
  • Order title quote and upload copy of quote into e-folder labeled “Title Quote”
  • Input fees into Itemization and ensure the Loan Estimate is completed accurately along with the 4506  and HMDA information
  • Produce accurate state and federal disclosures using the e-folder and remove duplicates or unnecessary disclosures
  • Send disclosures to borrowers using the company’s preferred method (email or USPS)
  • Upload any notification emails from Encompass that borrowers have accepted/received disclosures under “E-disclosures Acknowledgements”
  • In connection with purchases, send individual emails from e-folder containing the HUD cost settlement booklet with a note advising borrowers to keep the booklet for their information only
  • Identify loan files in need of re-disclosure
  • Order new Title Quote (if necessary for loan amount change).
  • Produce change of circumstance form and upload into E-folder under “Change of Circumstance Forms.”
  • Disclosures using the e-folder sending only necessary documents related to the Change of Circumstance.
  • Include any new disclosures due to change of circumstance (i.e. send ARM if locked as an ARM but initially disclosed as Fixed).
  • Duties as set forth in the company’s policies and procedures.

    This job description does not constitute an exhaustive list of duties.  Management may revise it at any time.  Overtime may be required.

    Diversity and Inclusion are not just words at LMC. They are principles guiding how we build our teams, cultivate leaders and create a company where all employees have a voice. LMC encourages and appreciates people’s differences, ideas and points of view. We are cultivating a diverse and inclusive work force where we provide equal opportunities to all employees and applicants for employment without regard to race, religion, color, age, sex, national origin, sexual orientation, gender identity, genetic disposition, disability, veteran status or any other protected category under federal, state or local law.

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