Mortgage Loan Originator- Commission at Local First Bank

SUMMARY:

The Position of Mortgage Loan Originator (MLO) is responsible for the origination of conventional residential mortgages in preparation for sale on the secondary market and in-house (portfolio) loans. This is accomplished through development of outside contacts with realtors, builders and others to solicit new business. In addition to outside sales responsibilities, MLO will work with branch associates and internal referral partners to achieve target production goals. 

In order to achieve external business development goals, MLO’s are expected to engage in external sales efforts a minimum of 10 to 12 hours per week. Customary and regular outside business development activities will be accounted for through sales production measurements established by Mortgage Group Sales Manager and/or Director of Mortgage. 

ESSENTIAL FUNCTIONS:

• Engages in new business development activities and solicitation of new business through outside contacts with realtors, builders and others referral partners 
• Interviews applicants and obtains information to determine the mortgage product that best fits their financing needs
• Performs an income analysis and qualification assessment and applies to investor guidelines
• Inputs applicant information into the loan processing system by laptop and has appropriate disclosures signed by borrowers
• Meets with and interviews customers outside the bank and has the ability to take a digital mortgage application (Relay)
• Obtains and analyzes pertinent financial and credit data prior to submitting to the processing center
• Corresponds with applicants to resolve questions or to obtain additional information that may be required during the underwriting process
• Negotiates terms and conditions of loan with applicants
• Demonstrates good customer service skills by answering questions from customers pertaining to loans in process, potential loan requests and general information
• Communicates with processor as to status of loans in process
• Is aware of current and changing agency and investor guidelines and applies that knowledge to individual loan request
• Develops and maintains knowledge of financial industry, economy, market conditions, rates, investor guidelines and competition
• Has a basic knowledge and is able to read and analyze tax returns and financial statements
• Has a basic knowledge of related compliance regulations such as RESPA, Fair Lending HMDA, etc.
• Must have excellent time management and organizational skills
• Completes annual compliance courses.
• Adheres specifically to all corporate policies and procedures. Also adheres to Federal and State regulations and laws; including, the Bank Secrecy Act and the Anti-Money Laundering Act.
• Adheres to all levels of our Service Excellence standards.
• Performs other duties as required.

GENERAL QUALIFICATIONS:

Knowledge & Experience:  These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position.  Individual abilities may result in some deviation from these guidelines.

High school diploma or general education degree (GED); or the equivalent combination of education and experience and three to five years previous lending experience including at least 2 years actual underwriting experience.  Prefer to have Delegated Underwriting approval from FHA and LAPP approval from VA.   Work related experience should consist of duties in a business environment.   Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be business or financial industry related.

Physical Demands/Work Environment:  Vision, hearing, speech, dexterity, visual concentration.  A valid driver’s license is required.  Must have the ability to stand, walk, sit and use hands and fingers.  Must have the ability to work the hours and days required to complete the essential functions of the position, as scheduled.  The environment is a professional office with standard office equipment.

Cognitive Requirements:  Learning, thinking, concentration, ability to exercise self-control, ability to work in a customer relations’ environment.  Must be able to pay close attention to detail and be able to work as a member of a team.  Must have the ability to interact effectively with co-workers and customers, and exercise self-control and diplomacy in customer and employee relations’ situations.  Must have the ability to exercise discretion as well as appropriate judgments when necessary.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.