FUNCTIONAL TITLE: Mortgage Loan Originator
DEPARTMENT: Residential Mortgage
REPORTS TO: Residential Mortgage Manager
The Mortgage Loan Originator position is primarily responsible for generating residential mortgage and development loans through solicitation of individual borrowers, real estate brokers, builders and developers. Work is varied in nature with changing priorities. Incumbent applies in-depth knowledge of mortgage lending principles and technologies to work performed. Works under limited supervision and in compliance with established policies, procedures and regulations.
In-depth knowledge of FHA, VA and Conventional guidelines for mortgage loan origination; working knowledge of various regulatory guidelines (e.g., Truth-in-Lending, HMDA, RESPA, ECOA, FDPA, etc.). Moderate PC skills including word processing, spreadsheet applications and Calyx solution. Advanced math and basic accounting skills with ability to perform complex mathematical calculations, along with advanced written, oral, interpersonal and negotiating skills with ability to recognize and respond to sales opportunities and deliver persuasive sales presentations.
Registered or capability to be registered with the Nationwide Mortgage Licensing System and Registry as a mortgage loan originator in accordance with the Secure and Fair Enforcement for Mortgage Licensing Act (the “SAFE Act”).
- Education – Bachelors Degree in a business related discipline and 3 years in mortgage loan origination experience, or the equivalent of seven (7) years related experience.
- Certain special requirements are required to maintain the level of expertise needed by this position. Continuing education in this specific job field is to be completed at least twice yearly.
- Language Skills – Ability to read, analyze and interpret the most complex residential mortgage documents. Ability to respond effectively to the most sensitive inquiries or complaints.
- Reasoning Ability – Ability to apply principles of logical or scientific thinking to a wide range of intellectual and practical problems. Ability to deal with a variety of abstract and concrete variables.
PRIMARY RESPONSIBILITIES AND DUTIES:
- Reinforces the application of exceptional customer service through his or her own example along with appropriate follow through with involved customers and employees
- Responds to inquiries or refers inquiries to the appropriate department or person, and execute the necessary follow through with customers and/or staff involved
- Establishes and maintains client referral relationships with realtors, builders and developers; makes sales calls on potential or existing customers to develop new business or retain existing business
- Serves as primary contact with all parties on individual loans originated from application to closing which includes, but is not limited to:
- Counseling and prequalifying potential homebuyers
- Completing applications,
- Obtaining all necessary support documents along with appropriate fee and lock-in information in compliance with FNMA, FHLMC, VA, and FHA and mortgage lending regulations inclusive of RESPA, Truth-in-Lending, HMDA, ECOA, FDPA and CRA
- Interviews prospective applicants or meets with established customers; obtains necessary information and assists in the loan application process; performs pre-qualification assessment and analysis of financial condition and risk of financing requests; orders and reviews credit and insurance reports, appraisals and flood zone determinations; performs title searches and site inspections; negotiates loan terms, conditions and pricing within established lending limits; presents financing requests to Credit Administration or Loan Committee for approval;
- Reviewing loan process by monitoring loan status and ensuring conformity with terms
- Assist in collecting additional documents and communicating loan status to all parties
- Reviewing loan documentation prior to closing before submitting to Residential Mortgage Manager
- Supporting functional guidance to loan processors regarding coordination of workflow and files in process
- Trains new real estate agents and brokers in areas of financing, qualifying buyers and lending guidelines
- Compiles, computes and prepares handouts and finance information, such as closing costs and rate comparison sheets for realtors, builders and developers
- Prepares loan file for presentation to Credit Department or Secondary Market Lender for underwriting and documentation
- Maintains current knowledge on mortgage products, underwriting guidelines and industry regulations
- Works with Branch personnel to capitalize on cross-selling opportunities
- Establishes and maintains a close working relationship with mortgage and title companies, contractors, builders, appraisers, real estate agents and other real estate industry professionals.
- Maintains detailed reporting and activity monitoring systems;
- Cross sells the Bank’s other products and services, referring customers to appropriate staff as indicated.
- Adhere to a viable reporting routine as required by management.
- Perform other tasks as requested by supervisor and Senior Management as they relate to the bank and its functions.
- Complies with federal and state laws and regulations as well as internal policies and procedures of Citizens Bank, and the bank’s code of ethics
Qualified applicants may send their resumes to Patricia Mays at firstname.lastname@example.org.