Loan Assistant

At Open Bank, we pride ourselves on being different and OPEN to new ideas and opportunities for our clients and employees.

We celebrate innovation, diversity, teamwork, excellence and integrity. We are an equal opportunity employer and offer competitive compensation and benefits package to recruit, retain and reward top talent. We would like to be your partner in success and happiness!

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Job Title: Loan Assistant

Department: Home Loan Center

Location: Los Angeles, CA (Onsite: Required 5 Days a Week)

We are looking for Loan Assistant to join our Home Loan Center team. The Loan Assistant will be responsible for supporting both the loan application process and post closing servicing, ensuring compliance with regulatory requirements, and maintaining communication with clients, internal departments, and external vendors.

Key Responsibilities:

• Discuss the bank's mortgage loan programs with applicants and borrowers, providing guidance on available options.
• Assist applicants in completing mortgage loan applications, ensuring accurate and complete information.
• Input application data and HMDA information into the loan origination system (PATH).
• Prepare and send out loan estimates and initial disclosures to ensure compliance and regulations.
• Coordinate and send out necessary types of verifications.
• Ensure compliance with regulatory requirements.
• Loan Processing & Underwriting Support: Open and requires escrow documents for purchase and refinance transactions.
• Order, review, and follow up on mortgage loan documents to ensure that all conditions are met before closing.
• Loan Servicing & Payment Management: Handle loan payments, late charges, NSF payments, non-post or rejected items, and perform general ledger (GL) reconciliation on a daily basis.
• Perform courtesy calls to follow up with borrowers on payments before the grace period ends.
• Monitor mortgage hazard, flood, and fire insurance by ensuring timely updates and renewals.
• Communicate with borrowers, brokers, builders, appraisers, title officers, escrow officers, and other parties involved in the loan process.

Requirements/Qualifications:

• Bachelor's degree in Business Administration or related field or equivalent experience required.
• Ability to retain a broad knowledge of tasks performed in the lending functions.
• Ability to analyze and organize financial information and perform complex financial calculations.
• General knowledge of lending regulations, lien laws, and loan documentation.
• Present a professional image in dealing with customers, interdepartmental, and external representatives.
• Ability to respond effectively to the most sensitive inquiries or client complaints.
• Good written and oral communication skills; ability to communicate effectively and project a professional image when giving and taking information in writing, in person, and over the phone.
• Accurate typing/keyboarding skills; basic computer skills, including the use of word processing, spreadsheet software applications, core banking process systems, e-mail and on-line banking programs.
• Good analytical skills including the ability to define problems, collect data, establish facts, and draw conclusions.
• Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
• [Work Location Requirement] This position requires working onsite at our Open Bank's Western Office location five (5) days a week. Candidates must be able to commute to and work from this location.

Employee Benefits & Perks

• Medical, Dental, & Vision: Open Bank offers medical, dental, and vision insurance for all full-time employees and their immediate family members. Employees become eligible for insurance benefits on the first of the month following their hire date.
• Life, Accidental Death & Dismemberment, & Long-Term Disability: Open Bank pays 100% of the cost.
• Flexible Spending Account (FSA): Tax-advantaged financial accounts are offered for employees to pay for eligible out-of-pocket expenses (health, dependent care, transit, and parking) with pre-tax dollars.
• 401(k) Retirement Savings Plan: Open Bank matches 100% of the first 6% of employees' contributions. Employees are eligible to participate on the first of the month following 90 days of employment.
• Paid Time Off (PTO): Employees begin to accrue PTO hours at the time of hire to use for vacation, illness, or other personal reasons.
• Employee Assistance Program (EAP): The EAP offers counseling sessions, online tools and resources, and legal and financial guidance for employees and their family.
• Company Paid Lunch: Open Bank provides company paid lunch twice a week.

To view current job openings, please visit Open Bank Careers Page: https://myopenbank.com/about/#