Mortgage Loan Officer
Job Summary
The Mortgage Loan Officer is responsible for selling and originating residential mortgage loans to meet sales goals. This role involves guiding customers through the mortgage application process, evaluating prospect needs, and ensuring compliance with all regulatory guidelines. The officer manages the loan pipeline, coordinates with underwriters and closing agents, and actively participates in community home-financing events.
Responsibilities
- Identify and meet with prospective mortgage clients
- Originate and negotiate residential mortgage loans
- Guide customers through the end-to-end application and closing process
- Ensure loan files are accurate and compliant with regulations
- Coordinate with underwriters, processors, and realtors
Required Skills
- 2+ years mortgage origination experience
- Proven sales and negotiation abilities
- Knowledge of mortgage laws and lending practices
- Proficiency in mortgage origination and underwriting systems
- NMLS registration eligibility
Job Details
### Job Description
The Mortgage Loan Officer sells and originates residential mortgage loans to sales goals. The Mortgage Loan Officer takes residential mortgage loan applications and offers or negotiates terms of residential mortgage loans.
### Depth & Scope
- Meets with prospects identified directly as well as referred by realtors, developers, attorneys, and other external and internal referral sources.
- Explains variety of mortgage products and services available and offers recommendations based on evaluation of individual prospect needs.
- Guides customers through the mortgage application process, explaining information required and other aspects of the loan process.
- Ensures applications are completed accurately and contain required information and supporting documentation.
- Manages customers' expectations regarding processing times and closing dates.
- Sells and originates residential mortgage loans according to established policies and procedures and applicable legal and regulatory guidelines.
- Generates referrals for mortgage sales opportunities and sales of other Company business line products.
- Develops plans to achieve sales goals with assistance from sales management.
- Enters information into mortgage loan system and creates supporting files for underwriting purposes.
- Underwrites loans using point-of-sale systems within scope of authority and communicates loan decisions to customers.
- Submits materials to the processing area to clear conditions and finalize loan commitments.
- Participates in homebuyers' seminars, home shows, brokers' meetings, and other home financing workshops.
### Education & Experience
- Bachelor’s degree or progressive work experience.
- 2+ years of mortgage origination experience.
- Proven sales ability and strong negotiation skills.
- Developing knowledge of mortgage industry, products, lending practices, and regulatory guidelines.
- Strong time management and communication skills (verbal and written).
### Regulatory & Compliance Requirements
- Must meet the definition of Mortgage Loan Originator under the SAFE Act and Regulation Z.
- Must be eligible for registration with the NMLS.
- Satisfactory results on criminal background and credit report checks are required as per federal law.