Mortgage Loan Originator

JOB FUNCTION / SUMMARY

Originate portfolio loans, secondary market conventional, FHA, VA and RD loans which are compliant with investor requirements and all State and Federal laws and regulations; Promote Bank products and services to existing and potential clients in the community

ESSENTIAL DUTIES & RESPONSIBILITIES

• Provides expert mortgage advice to potential borrowers
• Stays current with Bank's underwriting policy; Investor guidelines; Applicable State and Federal laws and regulations and Changes in other aspects of the mortgage industry
• Develops and maintains referral networks of Bank associates and external referral sources such as Realtors, Builders, friends, family and others in the community
• Manages a clean pipeline of loans in process coordinating with Processors, Underwriters and Closers on a daily basis
• Delivers all compliance documents and disclosures in a timely manner
• Takes a very complete application and collects all required documentation (such as income tax return, bank account number, purchase agreement, and property description, etc.) for verification.
• Prepares the borrower(s) for the process and keeps ALL of the parties involved in the process, up to date on all important developments and current status of application
• Informs applicant of closing costs such as appraisal, credit report, and notary fees
• Closes the transaction with the borrower(s), closing agents, Realtors and others involved in the transaction
• Interviews loan applicants to document income, debt, and credit history
• Determines if applicant meets establishment standards for further consideration
• Answers applicant's questions and asks for signature on information authorization forms
• Sets up and coordinates the closing with the borrower(s), closing agents, Realtors and others involved in the transaction
• Submits application forms to Mortgage Loan Processor for verification of application information
• Takes calls from applicant or other persons to resolve discrepancies, such as credit report showing late payment history
• Informs applicant of loan denial or acceptance
• Keeps Bank associates up to date on changes in the industry and works as a team member with the other lines of business
• Keeps all compliance requirements up to date and maintains a working knowledge of the products and services provided by the other lines of business and Bank affiliates
• Incumbent is required to comply with all applicable federal, state, and local banking and industry related laws and regulations including but not limited to the Bank Secrecy Act

SUPERVISORY RESPONSIBILITIES

MINIMUM REQUIRED EDUCATION, EXPERIENCE & KNOWLEDGE

• Bachelor’s Degree preferred
• 2 years of sales experience required
• 2 + years of Mortgage origination experience is preferred

ESSENTIAL MENTAL & PHYSICAL REQUIREMENTS

• Ability to travel if required to perform the essential job functions
• Ability to work under stress and meet deadlines
• Ability to operate related equipment to perform the essential job functions
• Ability to read and interpret a document if required to perform the essential job functions
• Ability to lift/move/carry approximately 10 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an “undue hardship” then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.