What Is The Role Of Mortgage Loan Coordinator
When mortgage borrowers apply for a mortgage and go through the mortgage loan process, a team of mortgage professionals are involved with every borrower. The first contact a mortgage loan borrower has with a mortgage lender is the mortgage loan originator, who is a licensed mortgage professional who will take charge of the mortgage borrower from the beginning stage of taking the mortgage loan application to the finish line of closing the mortgage loan. Some high volume mortgage companies have mortgage loan coordinators who are mortgage professionals who are the bridge between the loan officer, the mortgage processor, mortgage underwriter, the mortgage company’s closing department, title company, buyers and sellers, buyer’s realtors and seller’s realtors and everyone in the mortgage and real estate team. The role of a mortgage loan coordinator is to make sure that every mortgage loan application is complete and to make sure that the file is ready to submit to the processing department. Mortgage processors rely heavily on mortgage loan coordinators when certain items are missing on a mortgage file. A missing item or items on a mortgage file could mean delays on closing a home loan.
Importance Of Mortgage Loan Coordinator’s Role
Mortgage Loan Coordinators are in charge of prepping and scrubbing the mortgage loan file once it comes in. The role that the mortgage loan coordinator plays in the mortgage process is the most important stage. An experienced mortgage loan coordinator makes sure that title is ordered, the homeowners insurance declaration page and invoice is on hand, the appraisal is ordered, the FHA case number is ordered, all documents are submitted by the borrowers. A great loan coordinator will even take a step further and will thoroughly review each mortgage loan file that is assigned to them and will thoroughly go over every page of every document and make sure there are no missing pages or documents missing. For example, if there are missing pages in bank statements provided by borrowers or pages of divorce decree and/or child support paperwork are missing, the whole mortgage loan file can get kicked back by the mortgage underwriter and the file can be placed on suspense where the file will be placed on the back burner until the missing and/or incomplete documents are provided again. Loan coordinators play a huge role in the mortgage process and a great loan coordinator is the person that makes not only the loan officer look great but gives the mortgage company a great reputation.
Trisha Mangiaracina: A Very Special Loan Coordinator And Dear Friend
On this article, I like to introduce my viewers a very special loan coordinator who works for Gustan Cho Associates and who needs a special mention because she goes above and beyond. Her name is Trish Mangiaracina and those fine folks who have closed with me or are going through the mortgage approval process most likely have in contact with our Trish Mangiaracina. Trisha Mangiaracina is not just an expert mortgage loan coordinator, but also a team leader and a mortgage professional who goes above and beyond the call of duty. Trish Mangiaracina is one of the most amazing people I have met in my professional life and every employer’s dream. Trisha takes every single mortgage borrower who has been assigned to her personally and not just attaches herself just to the mortgage loan borrower but also to the whole family of the mortgage loan borrower including the family pet. Everyone who comes in contact with Trisha Mangiaracina gravitates towards her and instantly forms a bond with Trisha. She has a special six sense where people automatically naturally trusts her and one her natural traits that comes as a natural instinct is mainly because she is a mother who devotes every spare time she has with her beautiful children and her husband Robert Mangiaracina, who is also a licensed mortgage loan originator and supports his beautiful wife be the best she can be as a Loan Coordinator.
Our team and staff at Gustan Cho Associates are not grateful to have Trisha Mangiaracina as our mortgage loan coordinator but are blessed to have such an outstanding team player and team leader as part of our growing team of the finest mortgage professionals in the industry.