FHA/VA Loan Advisor

2 weeks ago

New York, New York, United States M&T Bank Full time
Position Overview:

The primary focus of this role is to assist clients in exploring and securing permanent FHA/VA and conventional mortgage loans, along with various residential mortgage options that align with their financial goals and requirements, while complying with federal regulations under the SAFE Act.

Key Responsibilities:
  • Conducts interviews with applicants to gather and evaluate information regarding their financial status, including income, assets, liabilities, and credit history, to assess loan eligibility and risk.
  • Independently evaluates the creditworthiness of applicants and has the authority to issue pre-qualification statements regarding their eligibility.
  • Identifies the mortgage products that best suit the clients' needs and financial situations, providing guidance on the pros and cons of various financial options and mortgage programs.
  • Recommends additional banking products or alternative lending solutions as necessary.
  • Develops new mortgage business opportunities by marketing and promoting the bank's mortgage offerings, including outreach to real estate agents, builders, and developers.
  • May require travel to meet with potential clients at their homes or businesses, and follows up with leads through in-person visits or phone calls.
  • Negotiates loan terms and conditions with borrowers, holding the authority to finalize agreements on behalf of the bank.
  • Ensures compliance with all lending procedures, including adherence to bank policies and regulatory standards.
  • Advises management on compliance strategies and potential adjustments to corporate policies to maintain regulatory adherence.
  • Monitors local real estate market trends and changes in regulations affecting both private and government-backed mortgages.
  • Acts as a representative of the bank within the community, participating in events to identify and cultivate new business opportunities. May also conduct seminars for the public and real estate professionals to enhance community engagement.
Scope of Responsibilities:

This position operates with a degree of autonomy, often outside the office environment.

It involves extensive external interactions with potential and existing clients, as well as internal collaboration with bank personnel primarily during sales activities outside the office.

The role necessitates the development of new relationships and the maintenance of existing ones within the assigned community.

It is essential to uphold federal registration requirements as outlined in the SAFE Act.

Required Qualifications:

Associate's degree coupled with two years of sales experience,

OR alternatively,

A minimum of four years of combined higher education and/or relevant work experience, including at least two years in sales.

Comprehensive understanding of FHA/VA regulations, conventional loan criteria, and real estate legislation.

Preferred Qualifications:

Technical Skills

General proficiency with personal computers and software utilized by the Residential Mortgage Department.

Demonstrated sales proficiency.

Strong mathematical aptitude.

Self-driven and organized individual.

Exceptional verbal and written communication abilities.

Capability to engage with individuals across various income levels and collaborate with peers professionally.

Proven ability to work independently and ensure thorough follow-through on tasks.

Capacity to operate effectively under tight deadlines.

M&T Bank is dedicated to offering fair, competitive, and market-informed compensation for our employees. The compensation for this role is commission-based, with a draw provided. The successful candidate's unique combination of knowledge, skills, and experience will influence their specific compensation.

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