Mortgage Loan Originator

Job Description

Department/Branch: Sales

Reports to: JV Manager/Partner

FLSA Status: Non-Exempt

Work Schedule: Full-time 

Locations: In-Office or Remote

POSITION SUMMARY DESCRIPTION 

Mortgage Loan   Originators (MLO) are the sales arm of the business, with sole responsibility   to sell and service residential mortgage loans. Mortgage Loan Originators are required to   be licensed in each State in which they conduct business in accordance with   State licensing guidelines. MLOs   ensure accurate and efficient loan processing during all phases of the loan   transaction.

Primary objectives

Originate various   types of residential mortgage loan products while building a network of   industry and related industry partners. 

Pull, analyze, and   research regarding the collateral/property, borrower credit worthiness, and   other aspects of the residential mortgage loan file.

MAJOR AREAS OF   responsibilities

1. The Licensed Mortgage Loan Originator is responsible   for marketing and originating residential loan business for MBE ensuring all   phases of the loan process are performed in accordance with company and regulatory   guidelines, with expected production of at least three closed loans per month.

2. Conduct preliminary research needed on the loan to   help determine mortgage eligibility.

3. Provide customer service to clients and ensure that   all documents are secured in order to move the loan files to processing. This may occur through the assistance of a Loan   Partner, or independently of that assistance.

4. Update and mine marketing database for new loans

Specific Responsibilities

1. Work closely with Marketing Director on marketing   campaigns to further develop Loan Officer’s prospect base. MLO is responsible for ensuring all phases   of the loan process are performed in accordance with company and regulatory   guidelines. 

2. Mortgage Loan Originator must be familiar with types   of available loans, research pricing to ensure locking in at appropriate rate   and product, and ensure that client is aware of all documents they will be   required to submit during the application process. 

3. Mortgage Loan Originator is responsible for obtaining   all documents and application paperwork from borrower, and to ensure that the   file is complete prior to submitting to processing. MLO is responsible for client   communications throughout the closing, and to personally attend the client   closing.

4. Work with DASM Marketing Department on lead   generation and database to search for new opportunities.

Job Requirements

Broad Knowledge & Experience 

Extensive   understanding of various residential mortgage loan products including   Conventional, FHA, USDA, MHDC, and VA mortgage products. Clear understanding of the current RESPA   laws and guidelines.

Above Average Skills

Teamwork and   productivity skills. Must possess   excellent problem solving and customer service skills.

Demonstrated Ability

P/C computer   skills with solid understanding of MS Office and the ability to use the loan   origination system. Encompass   experience a plus.

General Knowledge 

Mortgage industry   knowledge, excellent math and language skills.

Education & Experience

Degree or Equivalent  

2-4 year college   curriculum preferred, or equivalent industry experience.

Years’ Experience

Minimum one year   experience and/or training.

Specialized Training

Knowledge of   Encompass Database software and or equivalent along with basic computer   skills.

Active Affiliations, Certifications

Mortgage Loan Originator license approved in   NMLS

Work Environment

Physical Demands  

Office and   off-site environment. Daily computer   use and close vision. 

Work Conditions

Fast paced, high   volume activities.

Temperament

In order to   succeed in this position, attention to detail in a fast-paced environment   with excellent sales and customer service skills is a must.

Compensation

Hourly   Wage  

State Minimum Recoverable.

Commissions

This   position is commission eligible.