Loan Associate

Loan Associate Faculty Staff Housing, Stanford, California, United States New Finance 1 day ago Post Date 106408 Requisition Please include both a resume and cover letter with your application for this position.

School/Unit description:

About Faculty Staff Housing (FSH)
Although Bay Area housing costs are high, Stanford is committed to providing generous financial support, resources, and services to help recruit and retain top talent. Our office administers Stanford's housing programs that provide eligible faculty and executive staff with favorable loans, lower cost ownership options, and eligible Stanford affiliates with convenient rental apartments and homes at reduced rents.

Home Ownership
FSH offers assistance to eligible faculty, staff and clinician educators with loans and programs designed to make home ownership more affordable, support to determine how much of a house you can afford, and homes for sale. Rental Housing
Stanford has over 1,000 rental housing apartments and homes in multiple communities within an easy walk, bike ride, or short train ride to campus. These apartments and homes are available to eligible Stanford affiliates at lower rents than what an equivalent home would cost in the regular marketplace. Resources for Homeowners
If you own a home on Stanford land, FSH can advise you if you need to sell your home or make a physical improvement to it.

Position Summary:

Stanford University- Faculty Staff Housing (FSH) seeks an experienced Loan Associate with a background in loan origination and underwriting. The Loan Associate is responsible for guiding prospective homebuyers through the mortgage application process, providing excellent customer service, determining borrower eligibility, and fully explaining a unique set of loan programs. This individual will conduct affordability meetings with eligible faculty or staff members looking to purchase a property. The role involves originating and analyzing applicants' financial information, reviewing financial documentation, assessing property appraisals, and pre-underwriting loan files. Additionally, the Loan Associate will be responsible for identifying clients' needs throughout the loan process and effectively communicating with key parties involved in the transaction.

In this role, you will be responsible for:

Perform structured analysis; conduct data mining; identify, clarify, and investigate discrepancies and exceptions; proactively develop solutions and processes. Oversee the entire loan origination process for client by ensuring a complete application is received and follow up as needed to ensure a close on time transaction.Maintain, reconcile, review, combine, and validate financial data sets and accounts, utilizing financial reports, financial databases, and key financial information. Review mortgage loan applications and support documentation, including credit reports, employment history, income verification, and property appraisals. Process loan pay-off or pre-payment transactions for existing borrowers. Analyze client financials to determine eligibility for various loan programs.Run and analyze financial reports, often from multiple systems; assist in preparation of management reports. Evaluate property appraisals and other third-party documentation to assess the value and suitability of the property for the mortgage.Resolve issues within the immediate work unit; Perform preliminary analysis, recognize exceptions and recommend solutions that may require policy changes or the development of new processes. Constantly review work processes for simplification and efficiency. Communicate ideas to the rest of department.Ensure work complies with complex internal policies and external regulations which may require interpretation. Analyze financial data to determine the borrower's ability to repay the loan. Evaluate the borrower's creditworthiness based on internal guidelines, including debt-to-income (DTI) ratios. Verify that all loans follow Faculty Staff Housing policies.Participate as a member of a project team and contribute to change management strategy through communication and collaboration with others. Work closely with underwriting, processing, and closing teams to facilitate smooth loan approvals. Communicate directly with clients and other internal stakeholders to ensure a smooth, on-time close transaction.Serve as a first line resource to client groups on matters in work unit. Meet with potential clients to assess their financial situation, including income, credit history, debts, and assets. Explain various loan purchase programs to clients based on eligibility and other internal policies including repayment terms, and associated costs.Understand and participate in cross training on core functions in work area or unit; serve as a backup to other functions. Cross train on all employee classifications served; act as a back-up to other functions such as underwriting.

To be successful in this role, you will bring:

Education / Experience:

Bachelor's degree and two years of relevant experience, or combination of education and relevant experience.

Knowledge, Skills and Abilities:

Advanced proficiency in business applications, such as MS Office suite, especially Excel.User knowledge and demonstrated experience of financial systems, internet and computer literacy.Understanding and ability to apply basic accounting skills and concepts.Demonstrated communication skills, including ability to prepare materials for and clearly and effectively communicate information to internal audiences and client groups.Basic project management skills and ability to contribute as part of a project team.Demonstrated ability to prioritize own work and multitask.Demonstrated excellent organizational skills.Ability to routinely and independently exercise sound judgment in making decisions.Exceptional attention to detail and strong analytical skillsAbility to work under pressure and meet deadlines.Relevant subject matter knowledge.

In addition, preferred requirements include:

2+ years of current mortgage origination and underwriting experience preferred.Familiarity with risk management processes and fraud detection.Strong understanding of mortgage products, industry guidelines, and regulatory requirements.

Why Stanford Is For You:

Imagine a world without search engines or social platforms. Consider lives saved through first-ever organ transplants and research to cure illnesses. Stanford University has revolutionized the way we live and enrich the world. Supporting this mission is our diverse and dedicated 17,000 staff. We seek talent driven to impact the future of our legacy. Our culture and unique perks empower you with:

Freedom to grow. We offer career development programs, tuition reimbursement, or audit a course. Join a TedTalk, film screening, or listen to a renowned author or global leader speak.A caring culture. We provide excellent retirement plans, generous time-off, and family care resources.A healthier you. Climb our rock wall, swim in our Olympic-sized pool, or choose from hundreds of health and fitness classes at our world-class exercise facilities. We also provide highly competitive health care benefits.Discovery and fun. Stroll through historic sculptures, trails and museums.Enviable resources. Enjoy free commute programs, ridesharing incentives, discounts and more.

The job duties listed are typical examples of work performed by positions in this job classification and are not designed to contain or be interpreted as a comprehensive inventory of all duties, tasks, and responsibilities. Specific duties and responsibilities may vary depending on department or program needs without changing the general nature and scope of the job or level of responsibility. Employees may also perform other duties as assigned.

Consistent with its obligations under the law, the University will provide reasonable accommodations to applicants and employees with disabilities. Applicants requiring a reasonable accommodation for any part of the application or hiring process should contact Stanford University Human Resources by submitting a contact form .

Stanford is an equal employment opportunity and affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status, or any other characteristic protected by law.

The expected pay range for this position is $89,914 to $103,137 per annum.

Stanford University provides pay ranges representing its good faith estimate of what the university reasonably expects to pay for a position. The pay offered to a selected candidate will be determined based on factors such as (but not limited to) the scope and responsibilities of the position, the qualifications of the selected candidate, departmental budget availability, internal equity, geographic location and external market pay for comparable jobs.

At Stanford University, base pay represents only one aspect of the comprehensive rewards package. The Cardinal at Work website ( ) provides detailed information on Stanford's extensive range of benefits and rewards offered to employees. Specifics about the rewards package for this position may be discussed during the hiring process.

How To Apply:
. click apply for full job details