Community Mortgage Originator (73948)

Main Street Bank•Marlborough, MA

6d•$40,000 - $50,000•Hybrid

About The Position

Under the direction of the SVP of Residential Lending and Loan Servicing, the Community Lender (inside) is responsible for the origination of first mortgage and home equity loan products as well as a wide range of duties related to loan origination and managing the pipeline in accordance to secondary market, private investor, private mortgage insurance, FHA, and Main Street Bank Portfolio policies, procedures, and guidelines. The majority of the prospective customer leads are generated by the bank’s branch system or other bank lead generation techniques. The Community Mortgage Originator is responsible to proactively identify, develop and maintain a quality network of external relationships and COI's that serve as a source of referrals for new mortgage lending opportunities. Additionally, this position embraces the established sales and service culture to maximize their contribution to the Bank’s goals. Community Mortgage Originators will receive Compensation Agreements that outline production expectations, salary, commission rates, payment schedule, and deposit incentives. After successful completion of training and proven abilities, this position is eligible for a hybrid work arrangement with an agreed upon number of days per week/month on site. Consistent availability is expected during core business hours. Work outside of regular business hours requires approval on an as needed basis to meet deadlines and fulfil the needs of both internal and external customers.

Requirements

Bachelor’s degree in business desired or banking courses and/or related work experience
Minimum three years’ experience and proven track record in the sale/origination of residential mortgages.
Knowledge of Secondary Market guidelines, state agency lending guidelines, HELOC and second mortgage guidelines and consumer loans.
Understanding of Fannie Mae/Freddie Mac/ Secondary mortgage market guidelines and requirements, including the automated underwriting systems DU and LP.
Knowledge of FHA, VA, USDA products, and any other loan products offered by the bank.
Proficient in Microsoft Office Suite products and the internet.
Experience using a mortgage loan management system is required, Encompass experience highly preferred.
Familiarity with and comfortable using Customer Relations Management (CRM) systems
Solid understanding and application of and ability to operate standard office equipment
Means and mode of travel to all Main Street Bank locations, networking and customer locations.
Be registered or be eligible to register and maintain a valid Mortgage Loan Originator Identifier Number issued through the National Mortgage Licensing System and Registry (NMLS&R).

Nice To Haves

Bilingual preferred

Responsibilities

Demonstrate strategic acumen in driving business growth and overseeing operational excellence.
Proactively develop and execute detailed plans to achieve sales targets, mapping out specific actions and managing time efficiently.
Regularly update management on progress toward goals, and request support whenever needed.
Expertly handle incoming leads generated from the bank’s branches, , commercial lending teams, and other internal sources, delivering white glove service throughout the process. Ensure every internal referral receives attentive, personalized support, from initial inquiry through to closing, showcasing a commitment to seamless customer experiences.
Conduct thorough interviews with applicants to determine their needs, evaluating financial status, creditworthiness, and property details to recommend the most suitable loan products. Provide thoughtful guidance to loan customers on beneficial financial strategies and responsible loan management.
Initiate complete loan applications based on client interactions, ensuring compliance with all regulatory requirements and timely submission. Collect all necessary documentation and fees from applicants efficiently, and keep applicants informed at every stage.
Utilize mortgage products as an opportunity to cross-sell additional banking relationships, such as checking accounts and other deposit services. Input data into the appropriate loan systems, maintaining robust supporting files and documentation for underwriting and regulatory purposes. Use automated underwriting systems (DU/LP/DO) within authorized parameters.
Communicate loan decisions promptly, clarify outstanding requirements, and work closely with borrowers to finalize commitments and prepare for closing. Attend closings when necessary to uphold a high standard of service.
Actively participate in homeownership initiatives, such as seminars, housing expos, broker meetings, and civic events to promote the Bank’s positive image and attract new business.
Seek external opportunities to expand the referral network while nurturing existing customer relationships for future referrals.
Assist in processing mortgage loan requests as needed, and respond effectively to inquiries from applicants and bank personnel. Clearly outline loan terms and commitments to borrowers.
Stay current on compliance laws relevant to mortgage and home equity lending, including ECOA, RESPA, Regulation Z, Regulation C, and all applicable state and federal laws. Offer feedback on competitor pricing and products, and inform management about market trends.
Review loan requests based on the Bank’s policies and offerings, collaborating with other loan officers to resolve any application issues. Evaluate residential loans for secondary market qualification and maintain an up-to-date database of new and existing business.
Remain vigilant to regulatory changes, recommending updates and improvements for both compliance and operational efficiency, ensuring excellence in every aspect of the lending process.
Assist internal, external, and regulatory auditors with the collection of requested materials as assigned with their respective engagements.
Readily volunteer and accept assignments to special tasks established to address specific issues and opportunities within the department.
Effectively use tools and systems to be able to self-manage, organize, and complete work independently, proactively recognizing potential obstacles resolving them before they become an issue, managing to deadlines, creating action plans when not on track, enabling job functions to happen with minimal oversite and meeting conditions of satisfaction.
Use discretion in dealing with large amounts of sensitive, confidential information, while adhering to all Bank policies and procedures
Adhere to all company policies, consistently demonstrating our core values and service standards
Regular and consistent attendance is required to ensure a high standard of customer service.
In the performance of respective tasks and duties, the employee is expected to uphold the responsibilities set forth by the National Mortgage Licensing System and Registry (NMLS&R) and the SAFE Act.
In the performance of respective tasks and duties, the employee is expected to maintain knowledge of and ensure compliance with Bank Secrecy Act regulations and adheres to compliance procedures and internal/operational risk controls in accordance with all applicable regulatory standards, requirements and policies as well as attending all required training sessions and completing all required on-line training courses.
Other duties as assigned, performing similar or related work as directed, required, or as situation dictates.