Mortgage Loan Originator

3 months ago


Saint Louis, United States MORTGAGES BY EXPERTS 1 LLC Full time
Job DescriptionJob DescriptionDescription:


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.

Requirements:




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