What are the responsibilities and job description for the Loan Officer position at Value Mart Surplus?
Overview
We are seeking a knowledgeable and customer-focused Loan Officer to join our financial services team. The ideal candidate will have experience in mortgage origination, loan processing, and credit analysis, with a strong understanding of banking regulations and compliance standards such as FNMA, TILA, and Fair Housing regulations. This role involves guiding clients through the loan process, assessing financial information, and ensuring a smooth and compliant loan experience. The Loan Officer will play a vital role in fostering client relationships, promoting financial products, and supporting the overall success of our lending operations.
Responsibilities
- Assist clients in selecting appropriate loan products by analyzing their financial situations and needs
- Originate loans by gathering necessary documentation, performing credit analysis, and preparing applications
- Conduct thorough underwriting and loan processing to ensure compliance with all regulatory requirements
- Negotiate terms with clients while adhering to company policies and legal standards
- Maintain up-to-date knowledge of mortgage servicing guidelines, contracts, escrow procedures, and relevant regulations such as TILA and Fair Housing laws
- Utilize financial software including Quicken, accounting software, and other loan origination systems to manage applications efficiently
- Provide exceptional customer service by guiding clients through the loan process from application to closing
- Ensure all documentation complies with federal and state regulations, including FNMA guidelines
- Collaborate with underwriters, processors, and other team members to facilitate timely loan approvals
- Stay informed about changes in financial services industry standards and best practices
Requirements
- Proven experience as a Loan Officer or in mortgage origination or related financial services roles
- Strong knowledge of FNMA guidelines, mortgage servicing, underwriting, escrow procedures, TILA regulations, and Fair Housing laws
- Proficiency with financial software such as Quicken, accounting software, loan origination systems, and 10-key typing skills
- Excellent negotiation skills coupled with strong customer service abilities
- Ability to perform basic math calculations accurately for credit analysis and contract review
- Familiarity with credit analysis processes and loan processing procedures
- Knowledge of contracts, banking operations, escrow processes, and financial software tools
- Strong organizational skills with attention to detail to ensure compliance with all regulatory requirements
- Ability to work independently while collaborating effectively within a team environment
This position offers an opportunity for growth within the financial services industry for candidates who are dedicated to providing excellent client support while maintaining compliance standards.
Job Type: Full-time
Pay: From $13.00 per hour
Expected hours: 40 per week
Work Location: In person
Salary : $13