Loan Officer

Evolving as a Loan Officer

• A High School Diploma or GED is required, with a bachelor’s degree in a related field preferred.
• Equivalent education and relevant work experience may be considered.

Qualifications

• Must hold a valid Loan Originator License and maintain it in good standing.
• Requires 2-3 years of experience in a management or supervisory role.
• Preferred: 2 years of experience in the mortgage industry.
• Preferred: 2 years of experience in a customer service-focused role.

Responsibilities

• Deliver exceptional customer service, managing all aspects of the loan process from application to closing, ensuring timely communication, and providing required documentation promptly.
• Serve as quality control and compliance supervisor for the team, ensuring adherence to relevant regulations and company procedures.
• Oversee team marketing and advertising efforts to grow the client base, including creating or coordinating print ads, public relations initiatives, and product campaigns.
• Conduct in-depth industry research on regulatory requirements, market strategies, audience development, and industry trends to support informed decision-making.
• Direct and supervise team members, including loan officer assistants and clerical staff, handling performance appraisals, promotions, and other HR functions.
• Exercise sound judgment in loan decisions, ensuring comprehensive knowledge of products, client needs, and regulatory requirements.
• Manage each loan from application through to closing, coordinating all client communications and supervising loan personnel.
• Gather and analyze client financial information to recommend products that best meet their needs; advise on the benefits and drawbacks of different financial products.
• Build business relationships and develop referral networks to identify prospective clients.
• Guide and pre-qualify potential clients, ensuring accurate application information and advising on loan feasibility and available financial products.
• Collect and verify supporting documentation, including credit history, financials, and compliance with all loan terms and guidelines.
• Obtain and lock in precise loan terms, communicate these to clients, and review HUD-1 documents for accuracy prior to closing.
• Stay current with product offerings, underwriting guidelines, market trends, and emerging loan and financial products.
• Ensure full compliance with all mortgage lending laws, rules, and regulations.
• Lead recruitment, onboarding, and training efforts in collaboration with Human Resources.
• Provide input on hiring, advancement, disciplinary actions, and promotions for team members.
• Perform tasks that support NOVA’s management and business operations.
• Complete additional responsibilities as assigned.

Benefits

• Employee Discount
• Paid Time off
• Health/Dental/Vision/Life/Disability Insurance
• 401(k) with an employer match
• Health Savings Account with employer contribution
• An Employee Assistance Program

Company Information

• NOVA® is an equal opportunity employer, substance-free workplace, and complies with the Americans with Disability Act regulations as applicable.
• All applicants are considered for all positions without regard to race, religion, color, sex, gender, sexual orientation, pregnancy, age, national origin, ancestry, physical/mental disability, medical condition, military/veteran status, genetic information, marital status, ethnicity, alienage, or any other protected classification, in accordance with applicable federal, state, and local laws.
• Equal access to programs, services, and employment is available to all qualified persons.