Job Summary:
We are seeking a detail-oriented and efficient Loan Processor with experience in qualified intermediary (QI) work for 1031 exchanges. In this dual role, you will be responsible for processing loans as well as supporting clients with 1031 exchanges, which involve facilitating the exchange of like-kind properties for tax deferral purposes. The ideal candidate will possess strong organizational skills, knowledge of both loan processing and 1031 exchange procedures, and the ability to manage multiple tasks in a fast-paced, dynamic environment.
Key Responsibilities:
Loan Processing:
Process loan applications from start to finish, ensuring timely and accurate completion of all required documentation.
Verify borrower information, including credit reports, employment, and financial documents, to ensure completeness and accuracy.
Coordinate with borrowers, loan officers, underwriters, and other team members to resolve any issues or discrepancies.
Ensure compliance with regulatory requirements and internal policies throughout the loan process.
Communicate with clients to obtain missing or incomplete documentation.
Review loan files for accuracy and ensure that all necessary documents are received before submission for approval.
Prepare loan files for underwriting by ensuring all information is organized and accurate.
Maintain accurate records of loan status and updates within the company's loan management system.
Respond to customer inquiries and provide status updates as needed.
Assist in troubleshooting issues and provide support to resolve any roadblocks in the loan process.
Qualified Intermediary for 1031 Exchanges:
Serve as the Qualified Intermediary (QI) for clients engaged in 1031 like-kind property exchanges, facilitating the exchange process to ensure compliance with IRS regulations.
Coordinate all necessary documentation, including exchange agreements, escrow instructions, and legal filings to ensure the successful and timely completion of the exchange.
Provide guidance and explanation to clients about the rules and regulations surrounding 1031 exchanges, including timelines, identification of replacement properties, and proper handling of proceeds.
Maintain detailed records of client exchanges and ensure all related documents are filed appropriately.
Monitor deadlines for identification and closing of replacement properties to ensure compliance with the 1031 exchange timeline.
Act as a liaison between the exchanger, qualified escrow companies, real estate agents, and other involved parties to ensure smooth communication and coordination.
Assist clients in structuring their exchanges to maximize tax deferral benefits.
Stay up to date with changes in 1031 exchange rules, regulations, and tax laws to provide accurate, current information to clients.
Qualifications:
High school diploma or equivalent; Bachelor's degree in business, finance, or a related field preferred.
Previous experience in loan processing, mortgage processing, or related financial services is required.
Previous experience as a Qualified Intermediary for 1031 exchanges, or willingness to obtain the necessary training and certification.
Knowledge of lending procedures, loan documentation, 1031 exchange regulations, and industry compliance requirements.
Strong attention to detail and accuracy.
Excellent organizational and time-management skills, with the ability to prioritize and manage multiple tasks simultaneously.
Ability to work independently and as part of a team.
Strong written and verbal communication skills.
Proficiency in Microsoft Office Suite and loan management software (experience with [specific software] is a plus).
Ability to maintain confidentiality and handle sensitive information responsibly.
Work Environment:
Full-time position.
Office-based and partial remote options, depending on company policy.
Collaborative team environment with opportunities for professional growth.
If you are passionate about supporting both the loan processing and 1031 exchange processes, and ensuring smooth and compliant transactions for our clients, we encourage you to apply and become a valued member of our team!
Job Type: Full-time
Pay: $56,321.00 - $63,120.00 per year
Benefits:
Paid time off
Schedule:
8 hour shift
Ability to Commute:
Scottsdale, AZ 85251 (Required)
Ability to Relocate:
Scottsdale, AZ 85251: Relocate before starting work (Required)
Work Location: Hybrid remote in Scottsdale, AZ 85251
