Mortgage Loan Officer - Level 3
Bank of England / Bank of England Mortgage
NMLS Registered Mortgage Loan Officer – Level 3
Typical business work hours are 8:00 A.M. to 5:00 P.M. Monday through Friday, some over-time may be required. This is considered a starting position for the sales force, you will be expected to have willingness to work closely with others, be a part of a team whose primary focus is to promote company growth and service the customer as you will be their main point of contact. At times, a Loan Officer can structure their time to work around their client base time zone or peak hours for sales calls. Loan Officers are expected to self-manage their time. This is a non-exempt position.
Loan Officers serve as a main contact point for Borrower and Retail Operations with the loan origination process. It is expected of them to take the initiative to generate their own client base and/or work leads provided by Bank of England Mortgage. Stay abreast of new types of loans and other financial products in order to better meet the customers’ needs. The Loan Officer must meet or exceed the set weekly and/or monthly production goals management has established. Communicate with their
Manager/Supervisor on a daily or weekly basis regarding personal production. Meet strict deadlines and maintain compliance. Resolve issues/difficulties across multiple departments while maintaining a high level of customer service to internal and external customers while meeting their expectations.
· Market and promote company initiatives through outbound phone calls, emails, direct mail, association conventions, networking, advertising or other means of generating interest from potential clients. Market loan products to individuals promoting services that may meet the customers’ needs.
· Develop a pipeline of prospective clients through identifying potential clients and decision makers with the client organization and set up meetings with client
decision makers. Plan persuasive approaches and pitches that speak to the prospective client’s needs, concerns and objectives.
· Develop a rapport with new clients and provide support that will continually improve the relationship. Present an image that mirrors that of the prospective client.
This also requires developing and retaining the customer base by presenting new solutions and services to clients.
· Handle objections by clarifying, emphasizing and working through differences to a positive conclusion. Use a variety of styles to persuade or negotiate appropriately.
· Manage developing client accounts through consistent follow-up, communication and maintaining accurate notes to the Branch Manager.
· Ability to perform all aspects of business to business development within the real estate and construction sector with emphasis on developing a pipeline of clients, networking, negotiating and closing deals.
· Work with internal and corporate colleagues to meet customer/client needs.
· Attend branch events, industry functions such as association events, conferences and seminars that will identify opportunities for campaigns, services and lead to garnering new clients.
· Meet with applicants to obtain information for loan applications and answer applicant’s questions regarding the loan process. Input loan application information into Encompass System. Gather all necessary and required documentation for loan approvals.
· Obtain and compile copies of loan applicants’ credit histories, corporate financial statements and other financial information. Prepares mortgage loan file by reviewing loan application, clarifying or obtaining additional information as necessary. Analyzing, reviewing and resolving application issues prior to submitting to Loan Processing.
· Submit applications to credit analysts for verification and recommendation. Initiate preliminary research needed on the loan to help determine mortgage eligibility. Analyze applicants’ financial status, credit and property evaluations to determine feasibility of granting loans.
· Facilitates mortgage loan applications process by interfacing with Borrower in supplementing additional needed data for completed applications.
· Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
· Handle customer complaints and take appropriate action to resolve them.
· Confer with Underwriters to aid in resolving mortgage application problems.
· Work closely with processors, closers and underwriters. Assists in coordinating closing appointments in conjunction with the closing staff.
· Maintains and ensures complete and accurate compliance with RESPA, Regulation Z, Fair Lending, HMDA, Bank Secrecy Act and other regulations regarding the mortgage application process.
· Review Loans to ensure that they are complete and accurate according to policy. Compute payment schedules. Approve loans within specified limits and refer loan
applicants outside those limits to management for approval. Review and update credit and loan files.
· Understands and complies with mortgage industry regulations, including the Fair Credit Reporting Act, the Real Estate Settlement Procedures Act, the Community
Reinvestment Act, Truth-in-Lending laws, etc.
· Protect Company’s reputation and image by maintaining Borrower confidence, deliver a high level of customer service and by keeping mortgage loan information
· Attend bi-monthly and or weekly production meetings with staff and management.
· Honesty and integrity in dealing with others and accountability in standing behind your work; initiative and self-motivation in serving the client, getting the job
completed thoroughly and on time; good written and oral communication skills, including the ability to listen to others and understand their needs; confidence in yourself and enthusiasm regarding your service. Organizational skills in having the ability to prioritize and manage numerous tasks at the same time. Miscellaneous duties as assigned.
· High School Diploma or GED equivalent required; some college preferred; College degree desired.
· Intermediate computer skills (MS Office, Mortgage Loan Applications/Software)
· Minimum of three (3) years’ recent work experience as a full-time Mortgage Loan Officer in the banking industry.
· Excellent customer service skills; written and oral communication skills and ability to demonstrate control, flexibility and maintain quality and high productivity
when dealing with customers and changing work demand.
· Must possess basic PC skills in Microsoft Windows, Word, PowerPoint and Excel or equivalent software. Encompass experience desired.
· Demonstrate effective and strong verbal and listening communication skills with the ability to effectively communicate with principals, executive management and clients.
· Demonstrate the assertiveness, perseverance, energy and passion – results oriented behavior required to be successful in this role.
· Demonstrate effective problem solving, planning & time management skills.