MORTGAGE LOAN OFFICER

Traditional Bank, Inc.•Louisville, KY

23d•Onsite

About The Position

The Mortgage Loan Officer (MLO) initiates the mortgage process for potential clients, preparing, analyzing, and verifying mortgage loan applications for the purchase or refinance of real estate transactions.

Requirements

High school diploma or equivalent with a minimal of 3 years of mortgage lending experience to include secondary market experience or a minimum of 5 years of banking experience.
NMLS number is required
Ability to understand, interpret, and adhere to regulatory and risk management requirements.
Proficient in creating and maintaining organized and professional reporting documents.
Strong analytical, organizational, and communication skills.
Strong oral and written communication skills.
Self-efficient and self-motivated person who is resourceful in completing tasks accurately and timely.

Responsibilities

Meets with and interviews potential and current clients to understand their lending needs to include fist-time homebuyer mortgages and refinance of existing loans.
Explains the differences between and approval requirements of various types of mortgage financing options; prepares and presents financing options on client specifications and needs.
Assists clients with completion of the mortgage application, inspecting completed documents for accuracy and thoroughness, and gathers and reviews financial credit documentation for pre-qualification for mortgage financing.
Reviews credit report history and assesses the client’s capacity to repay the debt in accordance to Ability to Repay (ATR) requirements.
Based on predetermined requirements, assesses, and grants or rejects mortgage applications based on bank/regulatory/investor or agency qualification requirements.
Maintains knowledge of trends and developments in the local real estate market, current and predicted lending rates; and changes in qualification, regulations, and best practices for various mortgage loan products.
Develops and maintains contract with local realtors, developers, and builders to promote and encourage the use of bank services for residential mortgage financing.
Prices mortgage rates in accordance to bank and regulatory guidelines.
Attends and manages the loan closing process.
Maintains high client confidentiality.
Operates and uses current mortgage loan software to prepare loan applications and disclosure packages.
Completes on-line compliance training as required.
Performs other duties as required.