Mortgage Loan Officer

About the Job: 

Job purpose & Scope

The Mortgage Loan Officer is responsible for helping individuals and families obtain financing for residential properties. This role involves building relationships with clients, assessing their financial needs, guiding them through the mortgage process, and providing appropriate lending solutions. The Mortgage Loan Officer works closely with clients to ensure they receive a smooth and supportive experience, from initial consultation to loan closing.

Essential Job Functions: 

 Client Consultation and Needs Assessment:

• Meet with potential borrowers to understand their mortgage needs and financial situation.
• Assess clients’ creditworthiness, income, debt, and other factors to recommend suitable loan products.
• Explain mortgage products, terms, and conditions, and educate clients on the loan process.

 Loan Origination and Processing:

• Originate mortgage loan applications and ensure accuracy and completeness of all documents.
• Guide clients through the loan application process, providing advice and support on necessary documentation and timelines.
• Collaborate with underwriting and processing teams to facilitate timely and smooth loan approvals.

 Business Development and Relationship Building:

• Develop and maintain a strong network of clients, real estate agents, builders, and other referral sources to generate new business.
• Proactively follow up with clients, provide status updates, and answer inquiries to ensure a high level of service and client satisfaction.
• Build long-term relationships with clients to foster repeat business and referrals.

 Loan Pipeline Management:

• Track loan applications from initiation to closing, ensuring accuracy, compliance, and adherence to bank policies.
• Monitor and manage a pipeline of active loans, addressing any issues or roadblocks proactively to ensure smooth closings.
• Coordinate with title companies, real estate agents, and appraisers as necessary to facilitate the closing process.

 Compliance and Risk Management:

• Ensure compliance with all bank policies, industry regulations, and lending requirements, including adherence to federal, state, and local guidelines.
• Conduct due diligence on all loan files, identifying and addressing potential risks.
• Maintain accurate records and documentation for each loan file to meet audit and regulatory standards.

Preferred qualifications 

• Bachelor’s degree in finance, business administration, or a related field.
• 2+ years of experience in mortgage lending, loan origination, or a related field. 
• Knowledge of mortgage loan products, credit analysis, and loan processing procedures. 
• Proficiency with CRM software, financial analysis tools, and MS Office applications.
• Strong understanding of state and federal mortgage regulations. 
• Mortgage Loan Originator (MLO) license, NMLS certification, or ability to obtain certification. 
• Established network of contacts in the real estate and lending industries. 
• Experience with loan origination systems (LOS) and familiarity with financial software. 

Knowledge, Skills, and abilities: 

• Strong sales and relationship-building skills with a client-focused approach. 
• Excellent communication and interpersonal skills to explain complex financial concepts clearly. 
• Detail-oriented with strong organizational skills to manage multiple loan files simultaneously. 
• Ability to work independently and collaborate effectively with internal and external teams. 

Job Expectations: 

Job expectations: Operate customary equipment and technology used in a business environment, with or without accommodation. 

Note: This description is not an exhaustive list of all job functions, duties, skills, and job standards required. Other job functions, duties, skills, and standards may be added. Management reserves the right to add or change the job requirements at any time. 

EEO Statement

Local Bank is an equal opportunity employer and gives consideration for employment to qualified applicants without regard to race, color, religion, sex, national origin, age, sexual orientation, gender identity, disability status, protected veteran status, or any other characteristic protected by federal, state, and local law. Member FDIC.