Loan Officer

About The Role

The Loan Officer is responsible for soliciting, analyzing, negotiating, and verifying mortgage loan applications for the purchase or refinance of residential real estate. You will act as liaison between customers and our financial institution, and you will help qualified applicants acquire loans in a timely manner. Spends more than 50% of the work time away from place of business soliciting new loans.

Essential Job Duties/Responsibilities

• Commitment to and behavior modeling of the Company’s Core Values.
• Observable display of a sense of urgency in the execution of duties.
• Spend more than 50% of work time away from place of business (including home office) in solicitation of new business.
• Meet with and interview potential and current clients to understand their lending needs including first-time mortgages and refinance of existing loans.
• Demonstrate knowledge and communicate effectively regarding mortgage options.
• Explain the differences between and approval requirements of various types of mortgages; prepare and present a lending package based on client specifications.
• Absorb and present loan applications, inspect completed documents for accuracy and thoroughness.
• Review loan applications, gather credit histories and reports, and complete initial assessment of applicants’ capacity to repay and default risk.
• Maintain knowledge of trends and developments in the local real estate market; current and predicted lending rates; and changes in rules, regulations, and best practices of various mortgages.
• Develop and maintain contacts with customers, local realtors, developers, and builders to promote and encourage the use of bank services for residential mortgages.
• Ensure all originations processes are in accordance with CHM policies, procedures and state and federal regulatory laws.
• Maintain and protect all confidential and personal private information gathered while performing job duties.
• Perform other duties as assigned.
• Evaluate credit worthiness by processing loan applications and documentation within specified limits.
• Interview applicants to determine financial eligibility and feasibility of granting loans.
• Determine all applicable ratios and metrics and set up debt payment plans.
• Communicate with clients either to request or to provide information.
• Justify decisions (approvals/rejections) and report on them.
• Complete loan contracts and counsel clients on policies and restrictions.
• Update job knowledge on types of loans and other financial services.
• Develop and maintain contacts with customers, local realtors, developers, and builders to promote and encourage the use of bank services for residential mortgages.
• Operate in compliance with laws and regulations and adhere to lending compliance guidelines.
• May manage and direct the work of support staff.

Qualifications, Knowledge, Skills and Abilities

• High school diploma required; bachelor’s degree preferred.
• 1 to 3 years prior experience in lending or related field.
• Thorough understanding of FHA, VA, FNMA, FMHC, Conventional, and non-QM loans, lending products, practices, and compliance/regulations.
• Intermediate math skills to effectively comprehend and explain financial calculations and pricing.
• Excellent communication and interpersonal skills.
• Ability to work effectively in a fast-paced environment with limited supervision.
• Self-motivated with an ability to work independently and in a team environment.
• Strong organizational skills and ability to handle detailed assignments.
• Familiarity with computers and lending applications/software.
• Must have NMLS License and applicable state licensing or ability to obtain licensing within 90 days.
• Maintain all required licenses and required CE for states in which they lend.