Loan Manager (Loan Officer Assistant) - Dallas, TX

About Oak Mortgage:

Oak Mortgage is a boutique-sized residential mortgage company based in Dallas with offices in Austin and Waco. We began in 2005 as a response to the decline in responsible lending and wanted to create a new banking model that was consumer and employee-focused. 

We don't want the "M" word to scare people and are on a mission to flip the culture surrounding finance institutions and mortgage lending on its head. Our vision is to greatly improve the customer experience, build trust and have a people-centered philosophy where the customer's needs, their families and their goals are ultimately the central focus. To get a feel for our brand, check out our Facebook page: www.facebook.com/OakMortgage

 In addition, Oak has a one-of-a-kind program to help people in Africa and Central America escape poverty. Through an international partner, we distribute microloans to help people start their own business and provide for their families. Not only does a portion of every loan fund this, but we take trips each year with employees, customers and realtors who have helped in the process. Our initiative is called Oak for the Oppressed (OFTO) and you can learn more about it here:http://ofto.oakmortgagegroup.com.

Finally, Oak Mortgage has a dynamic company culture where employees are engaged, motivated and have a common passion to help people. This focused culture is the centerpiece to our strategy of changing the way people are treated in the mortgage industry. Our internal culture is something we pride ourselves in as we believe investing in people is the key to a successful business. 

Prime Directive:

Regardless of your position, your principal function is to help this Company find, serve and keep profitable customers by driving Oak’s purpose statement to surprise our customers by instilling trust, peace of mind, and attention to the details that matter to them through a boutique-quality experience.


Job Summary:

OAK Mortgage Group is seeking experienced Loan Managers with strong processing experience on purchase and refinance mortgage transactions to join our dynamic team. The primary responsibility will be to perform necessary tasks to ensure that all files close ahead of or on schedule. This will require that all files are structured through proper origination and processing so that they are approved by underwriting in a timely manner. It will also require effective and quick communication to all parties both internally and externally about time lines and expectations so that all loans close on time. The collection of documents, appraisals, and information from 3rd party vendors along with a high level of communication to the borrower, the loan officer and the real estate agent are required. This role is located at our Dallas, TX branch and reports directly to the Team Captain. 


Essential Job Functions:

  • Completion of loan application once a contract has been finalized
  • Communication to borrower on needed items and explanation of disclosures
  • Sending all disclosures within 48 hours of application to borrower
  • Follow up with borrower on execution of disclosures and borrower conditions required for loan submission
  • Ordering of vendor services once disclosures have been signed
  • Sound and timely processing of files in accordance with FNMA/FHLMC/FHA and VA guidelines including income and asset calculations, Insurance, taxes and PI calculations
  • Preparing the file for underwriting and proper submission once all minimum standards have been met
  • Contact with the borrower on all outstanding conditions once the loan is approved, timely follow up to ensure that all conditions have been met
  • Resubmission of file to underwriting for final approval once all conditions have been met
  • Coordinate with closing attorney the release of lenders instructions, HUD approval and the release of loan documents
  • Good understanding of investor and company guidelines
  • Communicate changes or deviations from expectations with all parties on the file


Note: The above statements are intended to describe the general nature and level of work being performed by people assigned to this job.  They are not intended to be an exhaustive list of all duties, responsibilities, and skills required of personnel so classified, and they may change at any time


Required Experience & Skills

  • 5 plus years of processing experience
  • 5 plus years processing FHA and VA loans
  • An excellent understanding of FNMA/FHLMC guidelines
  • Knowledge and understanding of lending process, including applicable federal and state law.
  • Practices for gathering, compiling and summarizing information from a variety of internal and external sources
  • Computer applications related to the work, including word processing, spreadsheet, database applications, and vendor applications needed to obtain additional data. Encompass LOS experience is preferred, but not required

 Paid-Time-Off Schedule:

  • 0-2 years: 15 days
  • 3-5 years: 20 days
  • 5+ years: 25 days
  • 1 additional day of PTO for every year after 5


Pre-Employment Screening Includes:

  • Credit Check
  • Criminal Background Check
  • Past Employment & Social Security Verification

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