What are the responsibilities and job description for the Loan Officer position at Novus?
The Loan Officer’s primary role is to source, qualify and originate mortgage loans for Novus Home Mortgage.
Essential Duties and Responsibilities
- Develop and maintain relationships within the real estate community
- Monitor loan pipeline
- Ensure compliance with all government and regulatory requirements
- Attend weekly sales meetings
- Take information from the prospective borrower and complete the loan application form
- Analyze the prospective borrower’s income and debt and pre-qualify the prospective borrower to determine the maximum mortgage amount that the prospective borrower can afford
- Educate the prospective borrower in the home buying and financing process, advising the borrower about the different types of loan products available and demonstrating how closing costs and monthly payments could vary under each product
- Maintain regular contact with the borrower, realtors, and operation departments between the time of the application and closing to apprise them of the status of the application and gather any addition information
- Collect financial information (tax returns, bank statements) and other related documents that are part of the application process
- Order in file credit report, when required by the Novus Home Mortgage
- Determine whether the property is located in a flood area, where required by the NHM
- Attend the closing of the mortgage loan, if requested
- Under no circumstances shall the Loan Officer be compensated greater than the amount negotiated in the Loan Officer Compensation Agreement
Disclaimer: Job description is not a complete list of duties. The Loan Officer may and/or will be required to perform other functions as asked by management. The Loan Officer must be self-sufficient and show the initiative to self-educate industry product and program guidelines.
Qualifications
- Two (2) years prior mortgage or mortgage banking experience preferred but not required.
- Ability to deliver effective results and to meet deadlines
- History of exceeding sales goals
- Reliable transportation, valid driver’s license and current automotive insurance
- Sound judgment and decision-making skills
- Ability to work under pressure and meet deadlines with minimal supervision
- Excellent phone and service skills
- Must have a current license through NMLS and be in good standing
- Knowledge of Freddie Mac (FHLMC), Fannie Mae (FNMA), FHA, and VA
Language Skills
- Ability to speak, read and write in the English language
- Fluency is other languages preferred
- Articulate speaker with good interpersonal skills
Required Competencies
- Problem-solving - identifies and resolves challenges in a timely manner by gathering and analyzing information Develops alternative solutions using facts and reasoning in presenting business case for pursuing appropriate course of action.
- Communication - speaks clearly and persuasively in all types of situations. Listens and seeks clarification as necessary in order to understand and fulfill business objectives. Able to read and interpret complex information and regulatory requirements. Must be able to build effective intra-corporate relationships and collaborations, and liaison with various business
- Business acumen - understands business implications and decisions, displaying appropriate balance between revenue growth and compliance with existing laws and regulations. Demonstrates working knowledge of regulated financial industry.
- Ethics - Keeps commitments and inspires trust by Understands and appreciates the value of integrity in self and others. Upholds organizational values. Maintains strict confidentiality of business information and processes.
- Judgment - exhibits sound and accurate Supports and explains rationale for decisions. Includes appropriate people in decision-making.
- Planning and Organizing - prioritizes and plans work. Uses time efficiently. Sets goals and objectives.
- Professionalism - approaches others in a tactful, respectful Reacts well under pressure.
- Adaptability - adapts quickly to changes in work priorities and manages competing demands appropriately. Modifies approach or method to best fit the situation. Ability to deal with frequent changes, delays, or unexpected events.
- Initiative - undertakes self-development Seeks increased responsibilities, while asking for assistance when needed.
- Innovation - assist department in developing and implementing creative ideas and methods to increase overall efficiency and departmental value.
This position may be a great fit for:
- Military spouses & partners who want a career that fits their lifestyle
- Foreign service spouses & partners looking for a job that moves with them
- Veterans, transitioning service members, or anyone passionate about serving this community
- Individuals well-connected within the military or foreign service community
