Loan Counselor

Skills:

➢ Must not have a real estate license. If they do, it must be inactive. 

➢ Must be interested in learning the mortgage lending industry and be willing to work hard to get their license/certification (NACA will pay for testing). Training is intense! ➢ Will confidently commit to not missing a single day of training (90 days). 

➢ Will have a fire in their belly for the cause and want to help others who are less fortunate. 

➢ Will be very good at basic math and decimals. 

➢ Will know their way around a computer and know how to navigate various apps and sites. 

➢ Will be outgoing and motivated by commission/sales mindset. 

➢ Will be an exceptional communicator, very confident and articulate. 

➢ *May have* some sort of counseling experience (any kind- does not have to be financial). 

➢ *May have* sales background or other marketing/account management experience.

• Contract type: Contract to Perm Position
• Contract Duration (estimated & subject to change/extend): 90 DAYS (TRAINING 12 WEEKS)
• Training Schedule: First 7 weeks of training (classroom): 9:00AM to 6:30PM EASTERN Weeks 8-12 (hands-on): 9:00AM to 6:30PM LOCAL Candidates may not miss even one day of training during the first 90 days. No exceptions.
• Expected Schedule:  Week 13 onward: 45-50 hours per week Basic hours: 8:30AM TO 6:00PM LOCAL

• 2 late evenings per week 

• 2 Saturdays per month for workshops (4 hours) 

• Required to participate in/work National events which are a few events per year in metro areas around the country (typically during 3-day weekends. Fri-Mon or ThursMon.) • If Counselors work during the event weekends, their days off are during the week. (The pay during these events is $20/hr.)

• Is there a possibility that the contract can be extended? Yes
• Is there an option for this role to go FTE? Yes
• Base Pay 15-15/hr. (plus commissions and bonuses average counselor makes minimum of $40K base pay and with minimum bonuses and commissions 65K per year)

Description: 

The Counselor provides comprehensive housing counseling as well as the mortgage related activities described below. The Counselor’s daily responsibilities 

include working with Members on the following: 

• Provide a clear direction for a path towards their homeownership goals and improve their financial management skills.
• Utilize Client -Lynx to accurately complete documentation, data entry, and analysis for efficient and paperless Qualification and mortgage processing.
• Document files with written narratives and identify action items after each counseling session for the Member to complete.
• Review payment history, income, liabilities, assets, and other criteria to determine eligibility for the program, readiness for home ownership and mortgage payment affordability.
• Develop a monthly budget incorporating the Member’s desired lifestyle and changes in spending. This includes calculating the Member’s estimated monthly cash flow surplus as a homeowner with a long-term affordable mortgage payment.
• Work with Members for as long as it takes to resolve payment history issues, reduce debt, and/or adjust expenses as needed to meet their housing goals.
• Define a plan to save the minimum required funds needed to make the home purchase.
• Determine a maximum affordable mortgage payment and define a path to achieve Member’s homeownership purchase price/goal.
• Examine and process documents and address issues as needed.
• Address client Qualification conditions (if any) within 72 hours.
• Provide information on alternative mortgage products and options for the Member to make a well-informed home purchase and mortgage decision.
• Assist Members during their housing search to purchase within their affordability and eligibility.
• Maintain effective communication during the Member’s housing search and provide updates to their client Qualification.
• Review and process Member’s application for client Credit Access to ensure the Member and the property adhere to client’s criteria.
• Ver. 24.0 client Results Compensation Plan Page: 3
• Assist in submitting the Member’s mortgage application.
• Address lender conditions.
• Assist the Member through closing to facilitate the mortgage process.
• Present Home Buyer Workshops including on weekends.
• Participate in outreach activities and local initiatives focused on low and moderate income communities, churches, job sites, events, etc.
• Participate in regular trainings.
• Participate in client activities, events, and campaigns including on evenings and weekends.
• Counselors work 45 to 50 hours per week including two late evenings, and two weekends per month with additional time as required.
• Work effectively and collaboratively with other client team members.
• Other duties as assigned.

COUNSELING REQUIREMENTS: A Counselor’s performance and compensation is outcome based. Members come to our client to achieve affordable homeownership, and the performance requirements and performance pay incentivize such positive outcomes for the Members. Thus, the Counselor is expected to conduct 20 or more comprehensive counseling sessions per week with a minimum requirement of 15 completed sessions and no less than eight client Qualifications per month. The major Counselor requirement is to provide financial management counseling to prepare Members for long-term affordable homeownership. This consists of improved payment history including on-time rental payments, and a comprehensive budget supporting Member’s affordability for desired mortgage payment, and document increased savings, decreased debt, and/or reduced expenses. These are some of the basic qualities of effective counseling that our client provides and monitors. Our client, at its sole discretion, may change the counseling processes and requirements. A Mortgage Specialist and/or other staff review the Counselor’s work to maintain a high standard of member services. This includes listening and reviewing counseling sessions and other quality control activities to ensure that Members receive effective financial management counseling and are properly client Qualified with an affordable mortgage payment. 

TIME DEMANDS & WORK ENVIRONMENT: A Counselor works approximately 45 to 50+ hours weekly and as necessary to meet the demands of the job. Basic work hours are: 8:30 a.m. to 6:00 p.m. on weekdays and some late night(s). Two Saturdays are additionally required every month for homebuyer workshops and/or counseling scheduled from 8:30 a.m. to 1:00 p.m. A Counselor may be required to work increased hours and weekends for campaigns, events, and other activities at the client’s sole discretion. Counselors are required to work from a client office where they can be most effective and receive ongoing support.