What are the responsibilities and job description for the Mortgage Loan Officer position at PeopleWise Consulting MN?
About us:
Center Bank is a family-owned and woman-owned community-oriented bank proudly serving the communities of Litchfield, Plymouth and Chaska, Minnesota. At Center Bank, local decision-making, lasting partnerships and legendary service are the center of who we are. We take pride in our empowered, experienced, and tenured team working at Center Bank and are looking to add a marketing manager.
About the role:
The Mortgage Loan Officer is responsible for developing and maintaining mortgage lending relationships with current and prospective customers and guiding borrowers through the mortgage loan process from application through closing. This position evaluates borrower financial information, recommends appropriate loan products, structures and submits loan applications for approval, and ensures lending activities are conducted in accordance with bank policies and applicable regulations.
The ideal candidate is a knowledgeable and relationship-oriented lender who provides exceptional customer service, demonstrates sound judgment, and can effectively manage multiple loan applications and priorities. This position plays an important role in growing the bank’s mortgage lending portfolio and strengthening relationships within the community.
Responsibilities:
- Develop and maintain relationships with current and prospective mortgage customers.
- Generate mortgage loan business through customer relationships, referrals, community involvement, and other business development activities.
- Meet with prospective borrowers to understand their financial needs, homeownership goals, and lending objectives.
- Explain available mortgage loan products, terms, rates, fees, and requirements to customers in a clear and professional manner.
- Take and review mortgage loan applications and collect required documentation from borrowers.
- Analyze borrower financial information, including income, assets, liabilities, credit history, and other relevant information.
- Determine appropriate loan products and assist in structuring loans based on the borrower’s financial circumstances and the bank’s lending guidelines.
- Review loan applications for completeness, accuracy, and compliance with bank policies and regulatory requirements.
- Coordinate with loan processors, underwriters, closing staff, and other internal teams to facilitate timely loan processing and closing.
- Communicate regularly with borrowers throughout the lending process and provide updates regarding loan status and outstanding requirements.
- Identify potential credit, documentation, or compliance issues and work with appropriate personnel to resolve them.
- Maintain accurate and complete loan files and customer records.
- Ensure mortgage lending activities comply with applicable federal and state laws, regulations, and bank policies.
- Stay current on mortgage lending regulations, products, programs, and industry practices.
- Participate in community and business development activities that promote the bank and its mortgage lending services.
- Provide ongoing service to mortgage customers and identify opportunities to deepen customer relationships with the bank.
- Assist with servicing and portfolio management activities as appropriate.
- Meet established loan production, quality, and customer service goals.
Qualifications:
- Bachelor’s degree in business, finance, accounting, or a related field preferred; equivalent banking or lending experience may be considered.
- 3 years of mortgage lending, residential lending, or related banking experience preferred.
- Working knowledge of the mortgage loan origination process.
- Understanding of credit analysis and borrower financial information.
- Knowledge of mortgage lending products, underwriting principles, and loan documentation.
- Familiarity with federal and state mortgage lending regulations and compliance requirements.
- Strong attention to detail and organizational skills.
- Excellent verbal and written communication skills.
- Strong customer service and relationship-building skills.
- Ability to analyze financial information and exercise sound judgment.
- Strong time management skills and ability to manage multiple loans and competing priorities.
- Ability to learn and effectively utilize loan origination and banking software.
- Ability to maintain confidentiality and handle sensitive customer and financial information appropriately.
- Professional, personable, and community-focused approach to customer relationships.