Loan Originator

Liberty Bank•Boston, MA

About The Position

At Liberty, we strive to maximize our impact and exceed goals by investing in our teammates to deepen our relationships in the workplace and communities we serve. We take pride in promoting a socially responsible and sustainable future through initiatives and investment. SUMMARY OF THE JOB: Reporting to the Loan Originations Manager, the incumbent is responsible for the solicitation and origination of residential mortgages. ESSENTIAL FUNCTIONS: The incumbent is responsible for soliciting and originating residential conventional and government mortgages. Promotes conventional and government programs and Bank services to realtors, builders, affinity accounts and other referral sources as well as prospective customers. Writes an annual sales plan identifying key, conversion and prospecting accounts. Makes regularly scheduled sales calls on targeted accounts and develops and maintains business relationships and referral sources. Interfaces with community banking offices and loan support staff and informs appropriate personnel of product/policy changes and updates. Works with Liberty Bank outreach officers to provide mortgage products in low/moderate census tract areas or for low/moderate income individuals. Counsels prospective customers regarding appropriate mortgage programs. Prequalifies based on income, debt, employment history, and other credit data. Determines customers' eligibility and acceptability of loan risk. Originates loan applications via a laptop computer and monitors the loan from application through closing process, maintaining effective communications with customers, referral sources, and loan support staff. Utilizes automated underwriting, where applicable, to issue point of sale commitment letters. Ascertains whether loans meet secondary market or lending approval guidelines. Keeps abreast of competitor activity and industry trends and developments. SECONDARY FUNCTIONS: Identify potential cross-sell opportunities for other Bank products and services and refers to appropriate Bank employees. DIMENSIONS: Annual Sales Goals: $9-$12MM No. Est. Referral Sources: 15-25 accounts, which are determined by the annual sales plan. $750,000/monthly loan closing average principal accountabilities: Development: Exercises effective sales techniques and implements successful sales and marketing strategies. Volume: Attains established loan production goals and objectives. Underwriting: Determines qualifications of customers based upon a thorough analysis of borrower’s credit profile. Use of automated underwriting system to issue point of sale commitment letters, where applicable. Outreach: Develops and maintains contacts and communications with municipal, civic, community and business groups through community involvement, special events and memberships in local organizations with emphasis on groups whose primary focus is housing. EEO: Acts affirmatively in all activities under his/her control in conformance with the Bank’s Affirmative Action, Equal Employment Opportunity, and Equal Opportunity Lending Programs to achieve the Bank’s goals and objectives. Compliance: Adheres to applicable federal and state regulations and Bank policies and procedures, including OFAC, BSA, PATRIOT Act, Privacy, and consumer protection regulations pertaining to incumbent’s business line. If applicable incumbents who have responsibility for taking residential mortgage loan applications or offers or negotiates terms of a residential mortgage loan for compensation or gain, must register with the NMLS as a Mortgage Loan Officer (MLO). To be registered, the MLO must pass a background check. Failure to comply with registration and annual registration or not pass a criminal background check administered by NMLS may result in termination. SECONDARY accountabilities: Cross Sells: Identifies cross sell opportunities and makes referrals.

Requirements

Working knowledge of conventional and government loan programs, and FHLMC/secondary market guidelines
Understanding of the real estate industry
Two years' sales experience and computer skills required
Associate degree and/or equivalent work experience
Minimum one year customer service experience
Strong organizational skills
Well-developed written and verbal communication skills
Understands and can apply basic mathematical formulas and calculations
Ability to effectively plan and manage many tasks / initiatives simultaneously
Keyboard dexterity
General office equipment
Ability to sit for long periods of time
Superior phone etiquette

Nice To Haves

Banking or call center experience preferred

Responsibilities

Solicit and originate residential conventional and government mortgages
Promote conventional and government programs and Bank services to realtors, builders, affinity accounts and other referral sources as well as prospective customers
Write an annual sales plan identifying key, conversion and prospecting accounts
Make regularly scheduled sales calls on targeted accounts and develops and maintains business relationships and referral sources
Interface with community banking offices and loan support staff and informs appropriate personnel of product/policy changes and updates
Work with Liberty Bank outreach officers to provide mortgage products in low/moderate census tract areas or for low/moderate income individuals
Counsel prospective customers regarding appropriate mortgage programs
Prequalify based on income, debt, employment history, and other credit data
Determine customers' eligibility and acceptability of loan risk
Originate loan applications via a laptop computer and monitors the loan from application through closing process, maintaining effective communications with customers, referral sources, and loan support staff
Utilize automated underwriting, where applicable, to issue point of sale commitment letters
Ascertain whether loans meet secondary market or lending approval guidelines
Keep abreast of competitor activity and industry trends and developments
Exercise effective sales techniques and implements successful sales and marketing strategies
Attain established loan production goals and objectives
Determine qualifications of customers based upon a thorough analysis of borrower’s credit profile
Develop and maintain contacts and communications with municipal, civic, community and business groups through community involvement, special events and memberships in local organizations with emphasis on groups whose primary focus is housing
Act affirmatively in all activities under his/her control in conformance with the Bank’s Affirmative Action, Equal Employment Opportunity, and Equal Opportunity Lending Programs to achieve the Bank’s goals and objectives
Adhere to applicable federal and state regulations and Bank policies and procedures, including OFAC, BSA, PATRIOT Act, Privacy, and consumer protection regulations pertaining to incumbent’s business line
Register with the NMLS as a Mortgage Loan Officer (MLO) if responsible for taking residential mortgage loan applications or offers or negotiates terms of a residential mortgage loan for compensation or gain