Mortgage Loan Officer- Boston MA

TD Bank•Boston, MA

About The Position

The Mortgage Loan Officer sells and originates residential mortgage loans to meet sales goals. The role takes residential mortgage loan applications and offers or negotiates loan terms. The officer meets with prospective customers, explains mortgage products and services, recommends options based on customer needs, and guides customers through the application process. The position also manages customer expectations, keeps applications and supporting documentation complete and accurate, and coordinates loan processing, underwriting, commitment, and closing. The officer originates loans according to company policies and applicable legal and regulatory requirements, develops and works toward sales goals, generates referrals, and may underwrite loans within their authority using point-of-sale underwriting systems. The role involves communicating with customers and internal and external partners throughout the application process, attending closings as needed, participating in homebuyer and industry events, and maintaining knowledge of mortgage products, industry practices, policies, and regulations. This position is classified as a Loan Originator under Regulation Z and as a Mortgage Loan Originator under the SAFE Act. Employment requires eligibility to work for a covered financial institution and to register as a mortgage loan originator with the NMLS, as well as satisfactory criminal-background and credit checks and required applicant disclosures. The listed pay details include $15.00 per hour and a stated pay range of $11.54 per hour depending on local minimum wage, plus commission; actual compensation may vary based on qualifications, location, and organizational needs.

Requirements

Bachelor's degree or progressive work experience in addition to the stated experience requirement.
At least 2 years of mortgage origination experience.
Proven sales ability.
Developing knowledge of the mortgage industry, products, lending practices, and regulatory guidelines.
Strong sales and negotiation skills.
Self-directed, with the ability to plan activities to achieve sales goals.
Strong time-management skills.
Excellent verbal and written communication skills.
PC skills and the ability to learn mortgage origination and automated underwriting systems.
Must be eligible for employment with a covered financial institution under Regulation Z.
Must be eligible to register as a mortgage loan originator with the NMLS under the SAFE Act.
Satisfactory criminal background check and credit report check, and required statements or certification concerning administrative, civil, or criminal findings by government agencies or authorities.

Responsibilities

Meet with prospective customers referred directly or by realtors, developers, attorneys, and other internal and external referral sources.
Explain available mortgage products and services and recommend options based on individual customer needs.
Guide customers through the mortgage application process and explain required information and other loan-process details.
Ensure applications are accurate and include required information and supporting documentation.
Manage customer expectations regarding processing times and closing dates.
Sell and originate residential mortgage loans in accordance with company policies and applicable legal and regulatory guidelines.
Generate referrals for mortgage sales opportunities and sales of products from other company business lines.
Develop a plan to achieve sales goals with assistance from sales management.
Enter information into the mortgage loan system and maintain accurate pipeline information.
Create supporting files with backup and explanatory documentation for underwriting, regulatory, and other purposes.
Send applications and required information to underwriting.
Underwrite loans using point-of-sale underwriting systems within the scope of authority.
Communicate loan decisions to customers and explain any additional information needed.
Submit application materials to processing to clear conditions, finalize loan commitments, and prepare for closing.
Communicate with customers, underwriters, processors, realtors, closing agents, and others to keep applications on track.
Attend closings as needed.
Develop knowledge of industry practices, trends, company products and services, mortgage laws, and regulations through experienced colleagues and continuing education.
Develop knowledge of policies, procedures, rules, and regulations related to retail mortgage products.
Participate in homebuyer seminars, home shows, brokers' meetings, and other home-financing workshops.
Recommend changes to products, programs, or pricing.
Help ensure TD Bank maintains successful audits and examinations.
Handle complex mortgage needs.