Mortgage Loan Officer
Job Summary
The Mortgage Loan Officer is responsible for selling and originating residential mortgage loans to meet established sales goals. The role involves guiding customers through the mortgage application process, evaluating prospect needs, and ensuring compliance with regulatory and legal guidelines. Success in this position requires strong sales ability, relationship building, and meticulous documentation management.
Responsibilities
- Identify and meet with mortgage prospects
- Originate and sell residential mortgage loans
- Guide customers through the application process
- Maintain accurate loan documentation and pipeline data
- Ensure compliance with federal and industry regulations
Required Skills
- 2+ years mortgage origination experience
- Strong sales and negotiation skills
- Excellent verbal and written communication
- Proficiency in mortgage origination systems
- Strong time management and planning abilities
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.
### Responsibilities
- 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.
- 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.
- Enters information into mortgage loan system and creates supporting files for underwriting.
- Communicates loan decisions directly to Customers and explains any additional information needed.
- Participates in homebuyers' seminars, home shows, brokers' meetings and other home financing workshops.
### Education & Experience
- Bachelors degree or progressive work experience.
- 2+ Years of mortgage origination experience.
- Proven Sales ability.
- Developing knowledge of mortgage industry, products, lending practices and regulatory guidelines.
### Compliance & Requirements
- Must be eligible for registration as a registered mortgage loan originator with the NMLS.
- Must meet standards under Regulation Z of the Truth in Lending Act and the SAFE Act.
- Satisfactory results on a criminal background check and a credit report check are required.