The Loan Partner Three (LP3)
The Loan Partner Three (LP3) is a Loan Processor responsible for timely and high-quality loan processing from RESPA to Funding (lock-to-loan).
The LP3 collaborates with the Loan Officer (LO), Loan Partner Two (LP2), loan underwriters, borrowers, and other key stakeholders to review and submit high-quality loan applications to underwriting.
This position requires extensive knowledge of investor guidelines, strong attention to detail, expertise in analyzing cash, credit, capacity (income), and collateral, and proactive communication to minimize underwriting conditions and enhance the borrower experience.
Compensation $60,000 - $90,000 yearly
Responsibilities Pre-Underwrite
Verify that the initial loan file is complete using the pre-underwrite checklist
Request any additional documentation on cash, credit, and capacity (income) for a complete loan submission
Return incomplete loans to LO or LP2 with a detailed list of outstanding items
Initiate ALL third-party items (or direct LP3A to do so, if applicable)
Submit high-quality loans for preliminary underwriting without over-analyzing
Post-Underwrite
Analyze the Conditional Loan Approval (CLA) to ensure all conditions are clear
Confirm outstanding CLA items have NOT already been received before reaching out to external parties (avoid duplicate requests to borrowers)
Request conditions in layman’s terms that are easy for borrowers to understand
Thoughtfully review and submit all conditions to underwriting
Proactively communicate with LP2 (via phone or face-to-face) on better submission practices
Send all Clear to Close (CTC) requests via email to the loan team
Review ICD and CDs to ensure accuracy vs. the original Loan Estimate (LE)
Post-Fund
Monitor pending closed loans for funding authorization
Clear any post-funding conditions as required
Support LO, LP1, LP2, and borrowers with any post-funding questions
Additional Responsibilities
Collaborate with the Operations Team to improve the LP2 submission checklist for efficiency
Attend Weekly Team Meetings (WTM) to review the entire loan pipeline
Log all crucial communication in the LOS Conversation Log
Build relationships with closing, funding, post-closing, and QC teams
High-quality borrower third-party communication is required, differentiating this role from a traditional Loan Processor
Qualifications Standard Job Requirements
High school diploma or equivalent
Minimum 3 years of underwriting or processing experience
40+ hours per week commitment
Proficient in DU/DO and LP
Major Loan Origination Systems (LOS) expertise (Encompass, Calyx Point, etc.)
Strong understanding of investor guidelines
Microsoft Office Suite proficiency (Word, Excel, PowerPoint, Outlook, OneNote)
Excellent verbal and written communication skills
Strong time management ability to work under pressure
Detail-oriented with a strong sense of accountability
Team player with the ability to collaborate across corporate branches
Completion of all required regulatory compliance training
About Company Covita Lending is an Independent Mortgage Broker based out of Columbus, Ohio, that operates in Ohio, Florida, Georgia, and South Carolina. Covita Lending offers a wide range of lending options to meet your financial needs and circumstances. With nearly 40 years of combined experience as top-producing loan officers, our assurance is that whether you are a first-time buyer, interested in refinancing your mortgage, or a real estate investor, we’re here to guide you through the process.
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The LP3 collaborates with the Loan Officer (LO), Loan Partner Two (LP2), loan underwriters, borrowers, and other key stakeholders to review and submit high-quality loan applications to underwriting.
This position requires extensive knowledge of investor guidelines, strong attention to detail, expertise in analyzing cash, credit, capacity (income), and collateral, and proactive communication to minimize underwriting conditions and enhance the borrower experience.
Compensation $60,000 - $90,000 yearly
Responsibilities Pre-Underwrite
Verify that the initial loan file is complete using the pre-underwrite checklist
Request any additional documentation on cash, credit, and capacity (income) for a complete loan submission
Return incomplete loans to LO or LP2 with a detailed list of outstanding items
Initiate ALL third-party items (or direct LP3A to do so, if applicable)
Submit high-quality loans for preliminary underwriting without over-analyzing
Post-Underwrite
Analyze the Conditional Loan Approval (CLA) to ensure all conditions are clear
Confirm outstanding CLA items have NOT already been received before reaching out to external parties (avoid duplicate requests to borrowers)
Request conditions in layman’s terms that are easy for borrowers to understand
Thoughtfully review and submit all conditions to underwriting
Proactively communicate with LP2 (via phone or face-to-face) on better submission practices
Send all Clear to Close (CTC) requests via email to the loan team
Review ICD and CDs to ensure accuracy vs. the original Loan Estimate (LE)
Post-Fund
Monitor pending closed loans for funding authorization
Clear any post-funding conditions as required
Support LO, LP1, LP2, and borrowers with any post-funding questions
Additional Responsibilities
Collaborate with the Operations Team to improve the LP2 submission checklist for efficiency
Attend Weekly Team Meetings (WTM) to review the entire loan pipeline
Log all crucial communication in the LOS Conversation Log
Build relationships with closing, funding, post-closing, and QC teams
High-quality borrower third-party communication is required, differentiating this role from a traditional Loan Processor
Qualifications Standard Job Requirements
High school diploma or equivalent
Minimum 3 years of underwriting or processing experience
40+ hours per week commitment
Proficient in DU/DO and LP
Major Loan Origination Systems (LOS) expertise (Encompass, Calyx Point, etc.)
Strong understanding of investor guidelines
Microsoft Office Suite proficiency (Word, Excel, PowerPoint, Outlook, OneNote)
Excellent verbal and written communication skills
Strong time management ability to work under pressure
Detail-oriented with a strong sense of accountability
Team player with the ability to collaborate across corporate branches
Completion of all required regulatory compliance training
About Company Covita Lending is an Independent Mortgage Broker based out of Columbus, Ohio, that operates in Ohio, Florida, Georgia, and South Carolina. Covita Lending offers a wide range of lending options to meet your financial needs and circumstances. With nearly 40 years of combined experience as top-producing loan officers, our assurance is that whether you are a first-time buyer, interested in refinancing your mortgage, or a real estate investor, we’re here to guide you through the process.
#J-18808-Ljbffr