Job Description

Mortgage Loan Officer

ANNUAL SALARY + COMMISSION

The Mortgage Loan Officer (MLO) initiates the mortgage process for potential clients, preparing, analyzing, and verifying mortgage loan applications for the purchase or refinance of real estate transactions.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

• Meets with and interviews potential and current clients to understand their lending needs to include first-time homebuyer mortgages and refinance of existing loans.
• Explains the differences between and approval requirements of various types of mortgage financing options; prepares and presents financing options on client specifications and needs.
• Assists clients with completion of the mortgage application, inspecting completed documents for accuracy and thoroughness, and gathers and reviews financial credit documentation for pre-qualification for mortgage financing.
• Reviews credit report history and assesses the client's capacity to repay the debt in accordance to Ability to Repay (ATR) requirements.
• Based on predetermined requirements, assesses, and grants or rejects mortgage applications based on bank/regulatory/investor or agency qualification requirements.
• Maintains knowledge of trends and developments in the local real estate market, current and predicted lending rates; and changes in qualification, regulations, and best practices for various mortgage loan products.
• Develops and maintains contract with local realtors, developers, and builders to promote and encourage the use of bank services for residential mortgage financing.
• Prices mortgage rates in accordance to bank and regulatory guidelines.
• Attends and manages the loan closing process.
• Maintains high client confidentiality.
• Operates and uses current mortgage loan software to prepare loan applications and disclosure packages.
• Completes on-line compliance training as required.
• Performs other duties as required.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED

1. High school diploma or equivalent with a minimal of 3 years of mortgage lending experience to include secondary market experience or a minimum of 5 years of banking experience.

2. NMLS number is required

3. Ability to understand, interpret, and adhere to regulatory and risk management requirements.

4. Proficient in creating and maintaining organized and professional reporting documents.

5. Strong analytical, organizational, and communication skills.

6. Strong oral and written communication skills.

7. Self-efficient and self-motivated person who is resourceful in completing tasks accurately and timely.

PHYSICAL DEMANDS… The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this Job, the employee is regularly required to use hands to finger, handle, or feel and talk or hear. The employee is frequently required to stand; walk and sit. The employee is occasionally required to reach with hands and arms. The employee must occasionally lift and/or move up to 50 pounds. Specific vision abilities required by this job include close vision and distance vision. The above is intended to describe the general content of and requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities, or requirements

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