Mortgage Loan Officer
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Overview
Job Description
Position Summary:
The Mortgage Loan Officer is responsible for originating residential 1st mortgage loans. The MLO originates 1st mortgage products including Conventional, FNMA/FHLMC, FHA, VA, USDA Rural Housing, Jumbo and Portfolio loan products. The MLO conducts interviews with prospective borrowers in order to analyze financial and credit data, determine customer financing objectives, advise borrowers of product, pricing and loan program guidelines, and gather any additional required information. The MLO ensures exceptional customer service by maintaining thorough knowledge of mortgage loan programs, policies, procedures and regulatory requirements.
Essential Functions: *
- Proactively solicit business from referral sources: realtors, builders, CPA's, attorneys, personal spheres of influence and affinity sources.
- Routinely participate in business development activities in the community and prospect for new business on a continual basis.
- Grow and maintain customer database via CRM technology.
- Enter complete/accurate customer information into the Loan Origination System.
- Must be able to quote accurate rates, closing costs and loan terms.
- Knowledge of conventional, government, jumbo and portfolio loan underwriting guidelines.
- Familiar with FHA and HUD guidelines.
- Product knowledge that focuses on a needs-based selling approach with the borrower.
- MLO will administer AUS (Automated Underwriting System) and must be able to analyze results.
- Ability to manage existing loan pipeline.
- Knowledge of processing, underwriting and closing procedures as well as federal lending regulations governing real estate lending.
- Successfully interacts with the lending staff, underwriters, and processors to aid in meeting closing deadlines.
- Follow all other instructions and perform other job-related duties, at the discretion of the Regional President.
Critical Success Factors:
- Self-Motivated and Team Player
- Responsiveness
- Provides Exceptional Customer Service
- High Attention to Detail
- Organizational Skills
- Strong Ethics
- Excellent Written and Oral Communication Skills
Automate your job search with Sonara.
Submit 10x as many applications with less effort than one manual application.