Mortgage Loan Officer
About The Position
The Mortgage Loan Officer is responsible for handling all functions of originating a loan. This includes developing application sources, generating new business, completing loan applications, collecting necessary data and documents, inputting information into the Loan Origination System, issuing disclosures, pricing and locking interest rates, and monitoring lock expiration dates. The role also involves interacting with bank branches, promoting bank products, collecting fees, and maintaining lending compliance. A key requirement is meeting a minimum closed loan volume of $1,000,000 per month after 60 days. The position operates in a clerical office setting and involves standard office equipment usage, with duties conducted via telephone, face-to-face meetings, and computer work. Travel may be required.
Requirements
- Ability to communicate and work well with the public.
- Ability to analyze credit information necessary to originate and assist in processing a residential loan application.
- Knowledge of lending compliance requirements.
- General knowledge of conventional and government loans available to the consumer.
- Resourceful and ability to work with secondary market investors insuring all loans meet established guidelines.
- Extremely detailed oriented to insure accuracy of data supporting loan files.
- Ability to work independently inside and outside the office.
- High Level of experience with FHA – VA – USDA and VHDA.
- At least 1 year of mortgage loan sales.
- Active NMLS number.
- Origination and sales experience.
- Must be customarily and regularly engaged in making sales away from the bank’s places of business.
Nice To Haves
- College degree preferred.
- Encompass experience preferred.
Responsibilities
- Develop application sources through internal and external centers of influence.
- Develop new business from personal and nontraditional resources.
- Complete 1003 Residential Loan Application.
- Collect all data and documents necessary to process the application.
- Input or upload application information into Loan Origination System, Encompass.
- Submit to Desktop Underwriter™, Loan Prospector™ or other decision engine.
- Issue initial disclosures accurately and in a timely manner.
- Follow up on conditions necessary to close or decline loan as requested.
- Price and lock interest rate with investor, meeting Burke and Herbert Bank pricing expectations.
- Monitor lock expiration dates for closing and delivery.
- Call on Burke & Herbert Bank branches in assigned territory.
- Make introduction of all market applicants to appropriate Burke & Herbert Bank personnel.
- Generate new leads for the Bank from outside sources.
- Explore opportunities for cross-sell of other Burke & Herbert Bank products.
- Collect fees in accordance with Burke & Herbert Bank standards.
- Participate, as requested, in opportunities to promote the Burke & Herbert Bank.
- Maintain lending compliance including but not limited to: early disclosures, government monitoring, high priced mortgage loans documentation, and customer information procedures.
- Manage loan pipeline.
- Follow-up with borrowers, Burke & Herbert Bank partners, and sources of business.
- Work to ensure timely loan closings.
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
Associate degree
