An employee in this position procures new mortgage transactions for the bank. The primary responsibility is to bring in new loan requests into the bank for processing. The Loan Originator is the primary contact for the loan applicant.
Essential Duties and Responsibilities:
- The Loan Originator assembles and reviews a new application and matches the applicant with a mortgage program. The file is handled by the Mortgage Originator until it is time to request loan documents and closing is scheduled. By turning in the file at this point, the Loan Originator is able to go out and generate new business.
- The Loan Originator assists the borrower in determining the proper loan program, completing the loan application and gathering the required supporting documentation to begin the loan process.
- Conducts preliminary underwriting reviews.
- Remains front line contact with the borrowers.
- A credit report is obtained and analyzed by the Loan Originator.
- The Loan Originator is heavily involved with the client during the application and closing process.
- Develops referral relationships with realtors, builders, bankers and other sources in order to proactively solicit new business.
- Thorough knowledge of pricing and underwriting requirements of various mortgage products and programs.
- Knowledge of residential mortgage processing, underwriting and closing procedures.
- Thorough knowledge of federal lending regulations governing real estate lending, such as Truth-in-Lending, RESPA and others.
- Ability to analyze financial information.
- Excellent interpersonal and communication skills required.
- Pleasant and professional demeanor is essential.
- Work requires sound judgment and diplomacy.
- Outlook proficiency required.
- High School Diploma or equivalent
- Requires National Mortgage Licensing System (NMLS) registration under the terms of the S.A.F.E Act of 2008
- Minimum two years of mortgage loan origination/sales experience
- Ability to travel