Mortgage Loan Officer- Red Bank NJ

TD Bank•Red Bank, NJ

4d•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 position meets with prospects identified directly as well as referred by realtors, developers, attorneys and other external and internal referral sources. The Mortgage Loan Officer explains the variety of mortgage products and services available and offers recommendations based on evaluation of individual prospect needs. They guide customers through the mortgage application process, explaining information required and other aspects of the loan process. The role ensures applications are completed accurately and contain required information and supporting documentation, and manages customer expectations regarding processing times and closing dates. The Mortgage Loan Officer sells and originates residential mortgage loans according to established policies and procedures and applicable legal and regulatory guidelines. They generate referrals for mortgage sales opportunities and sales of other Company business line products. The role develops a plan to achieve sales goals with assistance from sales management. Information is entered into the mortgage loan system so that loans appear accurately in the pipeline. Supporting files with backup and explanatory documentation and information are created for underwriting, regulatory and other purposes. The application and other required information are sent to the underwriting area. Loans are underwritten using point-of-sale underwriting systems within the scope of authority. Loan decisions are communicated directly to customers, and any additional information needed is explained. Application materials and other required information are submitted to the processing area to clear any conditions, finalize the loan commitment, and prepare for closing. Regular communication is maintained with customers, underwriters, processors, realtors, closing agents and others to ensure the application process proceeds as planned. Closings are attended as needed. The role develops knowledge of current industry practices and trends by learning from more experienced sales personnel and by attending continuing education training and seminars, including the full array of Company products and services as well as mortgage laws and regulations. Knowledge of policies, procedures, rules and regulations related to retail mortgage products is developed. Participation in homebuyers' seminars, home shows, brokers' meetings and other home financing workshops occurs. Recommendations for changes to products, programs and/or pricing are made. The role ensures TD Bank maintains successful audits and exams within all areas. Complex mortgage needs are handled.

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

Sells and originates residential mortgage loans to sales goals.
Takes residential mortgage loan applications and offers or negotiates terms of residential mortgage loans.
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.