Loan Officer

Job Title: Loan Officer

Location: Rapid City, South Dakota - Hybrid

Work Authorization: Candidates must reside within the United States and be legally authorized to work in the United States at the time of hire and throughout employment.

Reports To: SVP of Sales

Employment Type: Full-Time, Exempt

Pay Range: Commission Only

About Granite Bank:

Granite Bank is one of the fastest-growing banks in Minnesota! We’re a locally owned community bank, and we’re growing our team of people on a mission to help as many people as possible achieve their financial and homeownership goals. We live by our core values: accessibility, agility, transparency, family feel, and empowerment. Whether it’s expanding our product line or having fun company events, we’re prepared to adapt to an ever-changing industry while keeping our people first. Come join us!

Position Summary:

This is a full-time on-site role for a Mortgage Loan Officer. The Mortgage Loan Officer will be responsible for managing and overseeing the mortgage lending process for loans they originate, including underwriting, customer service, and managing a portfolio of clients. The Senior Mortgage Loan Officer will also be responsible for developing and maintaining relationships with real estate agents, builders, and other referral sources.

Key Responsibilities:

• Verifies the information provided on applications to obtain more information if missing data or mistakes are present
• Communicates with borrowers to help them choose the best mortgage loan they can afford. Maintain consistent, professional and prompt communication with borrowers.
• Collects data from borrowers, such as their assets, salaries, debts and employment status
• Reviews file documentation for missing or erroneous information
• Verifies information about applicant history with credit bureaus and other agencies so the lender can approve or deny the loan
• Remains aware of loan application deadlines and informs customers about them
• Conduct loan interviews, discuss programs, explain processes, and request supporting documentation for loan approval.
• Evaluate credit and financial status of prospective borrowers to make sales of residential mortgage loans.
• Maintain a working knowledge of all Granite Mortgage products.
• Understand and apply all federal rules and regulations associated with mortgage lending.
• Prospect and network, building relationships with referral partners.
• Develop a working knowledge of the Credit Union's data processing system, loan origination system, Word, and Excel software.
• Maintain knowledge of available loan products, processing procedures, and underwriting guidelines.
• Any other duties assigned by supervisor or management.
• Solicit business from potential and existing customers (outside and inside business location).
• Interviews loan applicants and processes loan applications for both purchase and refinance transactions.
• Counsel borrowers about various loan programs and help them to select the program that best fits their financial goals and needs.
• Assist the loan processor in gathering the necessary documents from the customer to prepare for underwriting.
• Works closely with the processor and underwriter to address any underwriting issues and get closed.
• Manages a large pipeline of loans including meeting closing deadlines, submitting loans to compliance, and making sure their pipeline meets the bank's requirements.
• Represents the financial institution in public relations activities and community affairs.

Experience:

• Thorough understanding of all loan programs and closing costs.
• Have a good understanding of FHA, VA and conventional underwriting guidelines for all loan investors.
• Must be able to meet strict time deadlines and work independently under pressure.
• Must be detailed oriented and able to follow set guidelines.
• Possess ability to sell oneself to potential customers and referral partners.
• Excellent written and verbal communication skills.
• Regular and reliable attendance
• Works cooperatively with others

Granite Bank is an Equal Opportunity Employer

Note: This job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.