Correspondent Purchaser

Overview

Job Title
:
Correspondent Purchaser
FLSA Status
:
Non-Exempt
Reports To
:
Correspondent Purchasing Manager
Location: Remote

Are you interested in furthering your career in the mortgage industry? Are you a detail-driven professional with exceptional organizational skills? Do you thrive in a fast-paced environment, managing multiple tasks and meeting tight deadlines? Would you enjoy auditing loans, solving complex problems, and ensuring accuracy? If so, we want you to join our team as a full-time Correspondent Purchaser at Luxury Mortgage Corp.

(LMC)!

About Us
:
At LMC, we are more than just a mortgage banker—we are a thriving, innovative, and diverse company with a strong presence across 35 states. Headquartered in Stamford, (CT), with an additional office in Irvine, (CA), we have been setting the standard in the mortgage industry since 1996. We are dedicated to growing our team with professionals who share our passion for excellence.

As a Correspondent Purchaser, you will be responsible for reviewing and purchasing closed loans from correspondent lenders, ensuring compliance with company guidelines and investor requirements. The position will collaborate with internal teams to evaluate loan quality, resolve issues, and manage the loan purchase process from start to finish. This role will perform all duties in accordance with company policies, as well as state and federal regulations.

• Consistently complete/audit four (4) files per day, plus review conditions
• Insure all tasks are completed within the associated SLA.
• Receive and review any outstanding purchasing conditions prior to purchase.
• Complete a closed loan review to ensure documents were executed correctly.
• Ensure all prior-to-purchase conditions have been met and set file up for purchasing.
• Confirm all required documentation for the Collateral Package is satisfactory prior to purchase.
• Follow up on requested documentation from Loan Delivery.
• Works with appropriate parties to clear any outstanding conditions prior to loan purchase.
• Assess signed loan documents for compliance with federal, state and local law and company policies and procedures.
• Verify loan amount, all fees, rates, discount points, broker rebates and other loan amounts.
• Review signed loan documents for correct signatures, notary information, title reports and escrow instructions.
• Maintain highly confidential information concerning correspondent sellers.
• Input loan information into the loan system(s).
• Follow up with any post-closing issues that may arise.
• Maintain a thorough working knowledge of company and regulatory changes that effect the closing process.
• Resolve loan purchase discrepancies with the Accounting and Post Closing Departments.
• Assist with departmental support staff when necessary.
• Perform other related duties as assigned.

• High school diploma required; college degree preferred.
• Minimum two years’ experience in a similar role within the mortgage industry.
• Underwriting experience preferred.
• Encompass experience preferred.
• Knowledge of Non-QM underwriting guidelines and federal regulations.
• Excellent customer service, organizational and time management skills.
• Ability to prioritize multiple competing tasks and meet deadlines.
• Must be flexible and adaptable to change.
• Overtime may be required.
• Proximity to Stamford (CT) or Irvine (CA) for occasional travel to the office preferred

• A flexible work environment offering remote and hybrid opportunities
• Paid vacation, sick and personal days
• Medical, dental & vision plans
• 401k with employer matching contribution
• Short- and long-term disability plans
• Voluntary Life & AD&D insurance
• Pet Insurance options
• Healthcare, Dependent Care and Transit FSA
• PTO/parental leave
• Free parking when onsite
• Casual dress code when in office (Dress for Your Day)
• Free financial counseling, health coaching and employee assistance program

EEO Statement
:
We are building a diverse and inclusive workforce where we provide equal opportunities to all employees and applicants for employment without regard to race, religion, color, age, sex, national origin, sexual orientation, gender identity, genetic disposition, disability, veteran status or any other protected category under federal, state or local law.

The salary range for this role is $80,00.00 to $90,000.00. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, experience and location.

NOTE:

The above description is intended to describe the general nature and level of work to be performed. It is not intended to be an exhaustive list of all responsibilities of the position