Mortgage Loan Officer

Job Overview

The Mortgage Loan Officer (MLO) proactively solicits new residential mortgage business and sells Citadel mortgage products to meet established loan quality and production goals.

In this on-going sales role, the Mortgage Loan Officer continually identifies, develops, and maintains a quality network of business relationships that serves as a recurring source of referrals for new mortgage lending opportunities.

A Mortgage Loan Officer’s network may consist of Real Estate professionals, Builders, professional and personal contacts, as well as other valuable referral sources, and is enhanced by the Mortgage Loan Officer’s regular participation in business related development opportunities, community efforts to promote homeownership and professional organizations.

The Mortgage Loan Officer responds to customer inquiries and referrals that are generated from their own contacts. The MLO conducts interviews with prospective borrowers to analyze financial and credit data, determine customer financing objectives, advise customers of product / pricing policies and guidelines, and gather any additional required information.

The incumbent must have the ability to qualify borrowers based on Citadel underwriting standards, think independently and promote the Citadel brand.

The MLO ensures exceptional customer service by maintaining thorough knowledge of lending programs, policies, procedures, and regulatory requirements, demonstrating a commitment to professional ethics while complying with all Federal and State compliance.

Responsibilities

• Develops and maintains successful relationships with business referral sources such as, realtors, financial planners, CPAs, commercial lenders, insurance agents, title companies, etc.
• Meet with prospective borrowers : Review / analyze credit and financial data; determine borrower financial objectives and goals;
• present appropriate Citadel products and programs and explain guidelines; apprise of pricing and lock rate as required; identify appropriate opportunities to sell additional products;

collect supporting loan documentation as required and provide complete package to Mortgage Loan Processor.

• Utilizes Citadel training materials, reference tools and other resources to provide accurate and up-to-date loan program / policy information to both external customers and internal business partners.
• Provide professional and personalized service to our internal and external members by being courteous and respectful in all dealings.
• Inform first mortgage applicants of required documentation such as income and deposit verifications, mortgage statements, etc.
• Follow the mortgage application throughout the process by, communicating with the processors, underwriters, and closers.
• Attend purchase loan closings.
• Stay abreast of all available mortgage products and underwriting guidelines.
• Have a thorough understanding of mortgage lending regulations.
• Enter loans into Encompass and properly disclose all applications within three days of receipt of application.
• Comprehend the information in the title insurance commitment, appraisal, and credit report.
• Inform customer of application status and / or discuss other options.
• Calculate Private Mortgage Insurance premiums, pro-rate taxes and insurance for escrow accounts.
• Must keep informed of current trends in mortgage lending and market factors affecting mortgage lending.

Qualifications and Education Requirements

• Understanding of Mortgage lending and the origination process. Knowledge of Fannie Mae, PMI, and Credit Union lending guidelines.
• Work Experience : At least three years of experience as loan originator and documented self-sourced annual closed loan volume of $35M.

Education :

• Bachelor's degree preferred or equivalent work experience.
• Technical Knowledge : Microsoft Office, and experience with mortgage loan origination systems (Encompass) preferred.
• Proficient with automated underwriting systems such DU, TOTAL Scorecard and GUS.

Additional Skills / Notes

• Must have excellent verbal and written communication and problem-solving skills, excellent customer service, and organizational skills.
30+ days ago