Mortgage Loan Officer- Philadelphia PA

TD•Exton, PA

2d•Onsite

About The Position

The Mortgage Loan Officer sells and originates residential mortgage loans to sales goals. The Mortgage Loan Officer takes residential mortgage loan applications and offers or negotiates terms of residential mortgage loans. This role involves meeting with prospects, explaining mortgage products, guiding customers through the application process, and ensuring accurate completion of applications and supporting documentation. The officer will manage customer expectations, sell and originate loans according to policies and guidelines, and generate referrals. They will develop a plan to achieve sales goals, enter information into the mortgage loan system, create supporting files, and submit applications to underwriting. Loan decisions are communicated directly to customers, and the officer will work with processing to clear conditions and prepare for closing. Regular communication with customers, underwriters, processors, realtors, and closing agents is essential. The role also requires attending closings as needed and developing knowledge of current industry practices, trends, products, services, laws, and regulations. Participation in homebuyer seminars and workshops is also part of the role. The Mortgage Loan Officer must ensure successful audits and exams within all areas and deal with complex mortgage needs.

Requirements

Bachelors degree or progressive work experience in addition to experience below
2+ Years of mortgage origination experience
Proven Sales ability
Developing knowledge of mortgage industry, products, lending practices and regulatory guidelines
Maintains the highest level of sales ability and negotiation skills
Self-directed, ability to plan own activities to achieve sales goals
Strong time management skills
Excellent communication skills, both verbal and written
PC skills, including ability to learn mortgage origination and automated underwriting systems
Must be eligible for employment with a covered financial institution under the standards established by Regulation Z of the Truth in Lending Act, 12 CFR Part 1026.36
Must be eligible for registration as a registered mortgage loan originator with the NMLS (Nationwide Mortgage Licensing System and Registry) in accordance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act), 12 U.S.C. §§ 5102 et seq., and its implementing regulations, 12 CFR Part 1007
Satisfactory results on a criminal background check and a credit report check, and statements/certification from job applicant regarding administrative, civil, and/or criminal findings by any government agency/authority, are required by federal law for this position

Nice To Haves

OCC Language: This position falls within the definition of Loan Originator as defined under Regulation Z of the Truth in Lending Act, 12 CFR Part 1026.36, and the definition of Mortgage Loan Originator as defined under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act), 12 U.S.C. §§ 5102 et seq., and its implementing regulations, 12 CFR Part 1007

Responsibilities

Meets with Prospects identified directly as well as referred by realtors, developers, attorneys and other external and internal referral sources
Explains variety of mortgage products and services available and offers recommendations based on evaluation of individual prospect needs
Guides Customers through the mortgage application process
Explains information required and other aspects of the loan process to Customers
Ensures applications are completed accurately and contain required information and supporting documentation
Manages Customers expectations regarding processing times and closing dates
Sells and originates residential mortgage loans according to established policies and procedures and applicable legal and regulatory guidelines
Generates referrals for mortgage sales opportunities and sales of other Company business line products
Develops plan to achieve sales goals with assistance from sales management
Enters information into mortgage loan system so that loans will appear accurately in the pipeline
Creates supporting files with backup and explanatory documentation and information for underwriting, regulatory and other purposes
Sends application and other required information to underwriting area
Underwrites loans using point-of-sale underwriting systems within scope of authority
Communicates loan decisions directly to Customers and explains any additional information needed
Submits application materials and other required information to processing area to clear any conditions, finalizes the loan commitment, and prepares for closing
Communicates regularly with Customers, underwriters, processors, realtors, closing agents and others to ensure application process proceeds as planned
Attends closings as needed
Develops knowledge of current industry practices and trends by learning from more experienced sales personnel and by attending continuing education training and seminars, including but not limited to the full array of Company products and services as well as mortgage laws and regulations
Develops knowledge of policies, procedures, rules and regulations related to retail mortgage products
Participates in homebuyers' seminars, home shows, brokers' meetings and other home financing workshops
Recommends changes to products, programs and/or pricing
Ensures TD Bank maintains successful audits and exams within all areas
Deals with complex mortgage needs