Outside Loan Originator

Newton, MA 02466 • Full Time

About the role

AnnieMac Home Mortgage is looking to hire Full Time External Mortgage Loan Originators to establish referral source relationships for a steady flow of loan volume from real estate brokers and other external sources. Candidates should have experience directly related to the Mortgage Industry. Under the direct supervision of the Branch Manager, the primary duty is to sell mortgage loans to customers away from and outside of AnnieMac Home Mortgage’s places of business. Work done at AnnieMac offices is related and supplemental to outside sales.

Responsibilities

• Generate new business by building and maintaining relationships with realtors, real estate agents, title and escrow officers, financial advisers, CPAs, and other relevant professionals.
• Regularly participate in mortgage sales including attending closings and open houses, and conducting seminars and other lead-generating activities.
• Take information from the borrower and fill out the loan application.
• Develop relationships with referral partners such as realtors to generate new customers.
• Analyze the prospective borrower’s income and debt and pre-qualify the prospective borrower to determine the maximum mortgage they can afford.
• Counsel the prospective borrower in the home buying and financing process, advising about different loan products and demonstrating how closing costs and monthly payments vary under each product.
• Collect financial information (tax returns, bank statements) and other related documents as part of the application process.
• Provide disclosures to the borrower, including truth in lending, good faith estimate, and others.
• Counsel and advise the borrower in understanding and clearing credit problems.
• Maintain regular contact with the borrower, realtors, and the lender between application and closing to apprise them of the status and gather additional information as needed.
• Order legal documents.
• Review HUDs prior to closing.

Requirements

• Must have appropriate state license or certificate (varies by state).
• Must have a thorough knowledge of pricing and underwriting requirements of various mortgage insurance companies.
• Must have a working knowledge of credit underwriting and property eligibility requirements for FNMA, FHLMC, FHA, VA, local bonding programs, and private investors.
• Must be familiar with local, state, and national laws (e.g., zoning ordinances, Truth-in Lending, RESPA, energy audit requirements, etc.).
• Must have excellent communication skills and the ability to analyze financial information.
• Must be a sales-oriented self-starter.

Work Environment

Travel is required 80% of the time.

Pay

Salary Range: $13,500.00 – $65,000.00 Commission

Benefits

• Medical, dental, and vision plans
• Voluntary benefits, including 401K