What are the responsibilities and job description for the Private Mortgage Loan Officer position at ACCESS G T MORTGAGE, INC.?
. Job Summary
A. The Private Money Loan Officer originates, processes, underwrites, and closes Private Investor funded loans.
B. This employee will also communicate with and serve our private investors.
II. Required Experience
A. Minimum 5 years experience originating and closing private money loans.
B. Minimum 5 years experience originating and closing conventional and sub-prime/non-QM loans.
C. Experienced in originating private loans on residential, commercial, and land properties
D. Experienced in closing and servicing construction and rehab loan disbursements.
III. Character and Skills Needed
A. Impeccable Honesty with no criminal convictions (A background check is required.)
B. Typing (minimum of 30 words per minute)
C. Ability to prequalify potential borrowers per established guidelines
D. Ability to calculate Loan To Value and Debt Ratios
E. Ability to type up Promissory Notes, Trust Deeds, Escrow Instructions and other closing documents.
F. Ability to structure Dodd-Frank compliant private personal residence loans. (Will train.)
G. Ability to communicate with and serve private investors respectfully.
H. Fluency in Spanish is helpful.
IV. Specific Duties
A. Prequalify potential borrowers.
B. Send authorizations, disclosures, and document checklists to prequalified borrowers.
C. Pull property profiles and comparables.
D. Pull and analyze credit reports.
E. Take applications for private loans.
F. Calculate income, debt ratios, and LTV ratios.
G. Underwrite the loan according to established criteria.
H. Type up Loan Investment Summaries.
I. E-mail Loan Investment Summaries to private investors.
J. Inspect the property on which the loan will be a lien.
K. Open escrow and order the title report after investor conditionally approves loan.
L. Prepare Loan Investment Package and mail to private lender.
M. Order appraisal if needed.
N. Order insurance binder.
O. Type up Escrow Instructions, Promissory Note, Trust Deed, Loan Servicing Agreement, and any other needed closing documents, and E-mail them to private lender for approval.
P. E-mail the closing documents to the escrow officer.
Q. Review and approve the estimated Settlement Statement.
R. Provide any assistance needed at signing.
- Record loan data on closed loan register.
T. File closed loans.
U. Assist with Mortgage Call Reports.
V. Originate Conventional, FHA, VA, USDA, or sub-prime loans if time allows.
W. Job Terms
A. Full time: 8 hour shift, Monday to Friday
B. Work Location: Mostly in office at 3975 River Rd N, Suite 1, Keizer, OR 97303
C. Wages: Commission = 50% of company compensation, which is 4% - 5% of loan amount, plus the Processing Fee, the Underwriting Fee, and the Document Preparation Fee.