Mortgage Loan Officer (Full Time) - Tyler

PROSPERITY BANK • Tyler, TX

4d

About The Position

The responsibility of the Mortgage Loan Officer (MLO) is to source new mortgage loan business from leads generated inside and outside of the Bank. The MLO is to take loan applications, review the application and provide the applicant a list of documents necessary to support the information in the application, set realistic expectations about the mortgage loan process for the applicant(s) and provide regular updates to the applicant(s) and other interested parties. The MLO will discuss relevant mortgage related facts and issues with applicants concerning ability to repay, bank credit policy and documentation necessary to present to underwriting for credit decision. The MLO needs to be familiar with Bank credit policy and guidelines of the GSE’s, FHA and VA.

Requirements

• High school graduate or equivalent, advance degree preferred.
• Knowledge of Bank consumer mortgage lending policies, procedures, and guidelines.
• Understanding of financial analysis and determination of credit worthiness. NMLS certified.
• 3 to 5 years of prior mortgage banking experience, including a working knowledge of FNMA/FHLMC, FHA, VA.
• Excellent communication and public relations skills.
• Financial analytical skills.
• Solid interviewing skills.
• Able to use related computer applications and business machines.
• Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.
• Able to hear average or normal conversations and receive ordinary information.
• Movements frequently and regularly required using the wrists, hands, and/or fingers.
• Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.
• This position is largely an outside sales position. As such, you will be expected to hold a valid driver license in your State, maintain required automobile insurance and abide by the standards for cell phone use as described in the employee handbook.
• Ability to withstand moderate physical activity throughout the workday (standing, walking, reaching, driving).
• Ability to sit for extended periods of time.
• Ability to lift or move up to 25 pounds on occasion.
• Ability to maintain attention and concentration for extended periods of time.
• Ability to deal with a variety of variables under only limited standardization.
• Able to interpret various instructions.
• Ability to compute interest, payments, profit and loss, financial ratios, percentage, cash flow, and debt service.
• Able to perform very simple algebra.
• Ability to read a variety of books, magazines, instruction manuals, atlases, and encyclopedias.
• Ability to prepare memos, internal loan applications, reports, and essays using proper punctuation, spelling, and grammar.
• Ability to communicate distinctly with appropriate pauses and emphasis, correct pronunciation (or sign equivalent), and variation in word order using present, perfect, and future tenses.

Responsibilities

• The principal responsibility of the MLO is the origination of eligible mortgage loans. This requires focus on the marketing activities necessary to generate mortgage loan referral activity from Prosperity Banking Centers, realtors, home builders, financial planners, networking groups, trade associations and personal sphere of influence.
• MLOs have a minimum production expectation: 1. Monthly: 5 units or $1.0 Million in eligible loan volume 2. 90 day rolling average: 15 units or $3.0 Million in eligible loan volume 3. The above represents the minimum expectation.
• If the MLO is provided a Prosperity Bank assignment, the MLO is to visit the Bank on a regular basis to build internal relationships, educate the Bank employees about the ways to introduce Bank customers to the mortgage department and look for opportunities to introduce non-bank mortgage customers to the variety of financial services offered by Prosperity Bank with a warm handoff to the Bank employees in the assigned Banking Center. The mortgage referrals received from the Bank should be an adjunct to their self-sourced business.
• Responsible for establishing and maintaining effective communication, coordination, and working relations with Bank personnel in the mortgage fulfilment area and with management.
• As an MLO, you are to present yourself in a professional manner, representing Prosperity Bank with the highest level of professional conduct and ethical behavior, while always looking after the safety of the customer’s personal information and the best interest of the Bank.
• The MLO is to meet with potential customers to understand their financial needs and present them with the best mortgage products to suit those needs.
• The MLO is to oversee the customer experience through the entire loan process, from origination and analysis to loan closing.
• The MLO is to stay informed of, and abide by, the lending standards and related legal requirements and always strictly adhere to all Bank policies, regulatory and legal requirements.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED