An outside loan originator assists consumers who are seeking mortgage loans for the purchase or refinance of a residential property. He or she must be able to generate their own leads or be “self-sourced”.
· Evaluates loan applications and documentation by confirming credit worthiness.
· Helps customers by answering questions; responding to requests.
· Maintains customer confidence by keeping loan information confidential.
· Originates transactions by taking complete and accurate loan applications.
· Completes loan contracts by explaining provisions to applicant; obtaining signatures and notarizations; collecting fees.
· Improves loan applications and documentation by informing applicant of additional requirements.
· Effectively explain deficiencies to applicants.
· Establishes and maintains relationships with Realtors, bank officers, builders and new home sales representatives in order to develop and retain existing business; and by visiting subdivisions as required
· Monitors overall customer interaction and interfaces with all parties involved on each individual loan from application to closing, including but not limited to counseling and pre-qualifying potential home buyers
· Collects and analyzes information regarding the customer's income, assets, investments or debts
· Evaluates clients and other loan products and services and determines which financial products best meet the customer's needs and financial circumstances
· Advises the customer regarding the advantages and disadvantages of different loan products
· Services existing customers and obtains all necessary support documents along with the appropriate fees and lock in information
· Oversees the loan process by monitoring loan status and ensures conformity with terms
· Communicates loan status to all interested parties, and obtains loan documentation after closing
· Negotiates terms and conditions of loans with customers
· Stays abreast of trends and developments in the local real estate market and competitive environment, as well as, changes in rules and regulations pertaining to private and government insured mortgages
· Maintains a professional image and adheres to standards consistent with company policies and procedures
· Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
· Acts as a mentor to other Mortgage Loan personnel to improve their knowledge of policies and procedures, loan programs, investor guidelines
· Keeps abreast of changes to industry guidelines, investor policies and procedures. Keeps abreast of changes made by the client company’s secondary market investors and changes in Federal regulations pertaining to mortgages.
· Working knowledge of loan policies, investor guidelines, industry regulations and procedures in order to avoid losses to the company. Must have working knowledge of applicable federal regulations, including knowledge of the Bank's Anti-Money Laundering Compliance Program and related procedures
· Performs other duties as assigned
· Represents the client company in a professional manner by dressing professionally daily while if the office or when attending events.
· Must have excellent customer service skills, able to work in a team environment and proficient with computers. Basic to Intermediate computer skills in Microsoft Office, including Word, Excel, and Outlook are required. Encompass experience preferred.
· Excellent written and oral communication skills
· Analytical with good attention to detail
· Good judgment and the ability to work independently
· Ability to work remotely were allowed by law
· Good math skills
· Ability to multitask, work well under time constraints and within deadlines
· High School diploma or equivalent
· Ability to you generate your own leads and develop your own business.
· Bachelor’s Degree in Business, Finance or other related field a plus
· Minimum 3 years in Mortgage Banking
· 1-2 years in Mortgage Banking
· 0-2 years’ experience originating
· $500,000 2 year average in personal monthly volume and/or 3 units per month
· The deal candidate will possess an active state-appropriate NMLS license and a minimum of 2 years of retail origination experience.