Mortgage Originator

Overview

Responsibilities

• Interviews applicants to collect and analyze information regarding their income, assets, debts and credit data as well as their needs, desires, and earnings to assist in determining whether the loan will be an acceptable risk; obtains and analyzes pertinent financial and credit data.
• Independently assesses applicant’s credit worthiness.
• Has authority to issue pre-qualification statement of borrowers’ eligibility.
• Determines which products best meet the customer’s needs and financial circumstances and advises potential borrowers regarding the advantages and disadvantages of different financial products and the most appropriate mortgage loan programs.
• Makes recommendations to customers regarding other bank products or to alternative lending vehicles, as needed.
• Cultivates new mortgage business.
• Markets, services and promotes the bank’s mortgage products.
• Solicits residential first mortgages through contacts with Realtors, builders, and developers.
• May be required to travel to and work at prospective customers’ homes or business locations.
• Follows-up on potential customers via travel or telephone.
• Negotiates terms and conditions of loan with mortgagors.
• Has authority to bind the bank in connection therewith.
• Ensures lending compliance with all origination procedures including bank policies and procedures and regulatory requirements.
• Advises management on effective compliance strategies and potential modifications to corporate operating policies where appropriate to ensure ongoing regulatory compliance.
• Independently monitors trends and developments in the local real estate market, as well as the changing rules and regulations pertaining to both private and government-insured mortgages.
• Represents the bank in the community and related functions to identify, develop and promote additional business.
• May present seminars to general public and real estate agents to promote additional business and community outreach.
• Responsibility to establish and maintain federal registration requirements outlined in the SAFE Act.

Qualifications

• Associates degree and 2 years sales experience, OR in lieu of a degree, A combined minimum of 4 years higher education and/or relevant work experience, including a minimum of 2 years sales experience.
• Thorough knowledge of FHA/VA regulations, conventional loan requirements and real estate law.

Preferred Qualifications

• General knowledge of personal computers and software programs utilized by Residential Mortgage Department.
• Proven sales ability.
• Strong mathematical skills.
• Self-motivated, well-organized individual.
• Excellent verbal and written communication skills.
• Ability to interact with individuals at all income levels and peers in a professional manner.
• Demonstrated ability to work independently and to follow through on details to completion.
• Ability to work under critical time constraints.