What are the responsibilities and job description for the Mortgage Loan Originator position at Vision Bank?
Description
Title: Mortgage Loan Originator (MLO)
Job Summary
The Mortgage Loan Originator will be responsible for initiating the mortgage process for potential clients, preparing, analyzing, and verifying mortgage loan applications for the purchase or refinance of real estate
Please 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.
Duties/Responsibilities
Required Skills/Abilities:
Title: Mortgage Loan Originator (MLO)
Job Summary
The Mortgage Loan Originator will be responsible for initiating the mortgage process for potential clients, preparing, analyzing, and verifying mortgage loan applications for the purchase or refinance of real estate
Please 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.
Duties/Responsibilities
- Meets with and interviews potential and current clients to understand their lending needs including first-time mortgages, construction lending, and refinance of existing loans.
- Explains the differences between and approval requirements of various types of mortgages; prepares and presents a lending package based on client specifications.
- Assists clients with completion of mortgage applications, inspecting completed documents for accuracy and thoroughness.
- Reviews loan applications, gathers credit histories and reports, and assesses applicants’ capacity to repay and default risk.
- Based on predetermined requirements, assesses, and grants or rejects mortgage applications.
- Maintains knowledge of trends and developments in the local real estate market; current and predicted lending rates; and changes in rules, regulations, and best practices of various mortgages.
- Develops and maintains contacts with local realtors, developers, and builders to promote and encourage the use of bank services for residential mortgages.
- Performs other duties as assigned.
Required Skills/Abilities:
- Ability to exhibit our core values; Integrity, Enthusiasm, Accountability, Excellence, Customer First, Professionalism, and Respect.
- Identify and report risks that could impede the reputation, safety, security, or financial success of the bank.
- Excellent interpersonal and customer service skills.
- Excellent organizational skills and attention to detail.
- Thorough understanding of Federal Housing Authority (FHA), Veterans Affairs (VA), Federal National Mortgage (Fannie Mae), Freddie Mac, Federal Home Loan Mortgage Corporation, and other types of construction and conventional loans.
- Proficient with Microsoft Office Suite or related software.
- Exercise a willingness and commitment to adhere to the bank’s core values.
- Ability to identify and report risks that could impede the reputation, safety, security, or financial success of the bank.
- Exercise a willingness and commitment to adhere to the bank’s core values.
- Ability to identify and report risks that could impede the reputation, safety, security, or financial success of the bank.
- Bachelor’s degree in Finance or Business Administration preferred.
- One to three years of prior experience in lending or related field preferred.