Mortgage Loan Officer

Waterford Bank•Toledo, OH

17d•Onsite

About The Position

Mortgage Loan Officers are responsible for originating residential mortgage loans that conform to secondary market guidelines. The origination process includes soliciting referrals from internal and external partners, assessing a borrower's ability to qualify by reviewing their income, assets, credit, and collateral, and ensuring loans move timely through the stages of the loan by communicating with Processing, Underwriting, and closing functions. The role requires staying current with pricing of various loan types and federal regulations related to mortgage lending, maintaining active NMLS registration, and complying with Bank Secrecy Act requirements. Assistance to the supervisor in other duties as assigned is also part of the role.

Requirements

Minimum of two (2) years mortgage loan origination experience.
Eligible for active NMLS registration.

Nice To Haves

Four (4) year degree preferred.

Responsibilities

Soliciting referrals from internal Bank partners
Soliciting referrals from external partners including realtors, builders, financial planners, CPAs, etc.
Assess a borrower's ability to qualify by thoroughly reviewing their income, assets, credit, and the collateral
Develop and maintain knowledge of current Fannie Mae, Freddie Mac, and other Investor guidelines in order to maintain the salability of mortgage loans
Communicate with Processing, Underwriting, and closing functions to ensure a loan moves timely through the stages of the loan
Stay current with pricing of Conventional, FHA, Non-Conforming loans as well as Fixed vs. Adjustable. It is also the Loan Officer's job to know the Loan Level Pricing Adjustments put in place by Secondary Market
Develop and maintain knowledge of current Federal regulations related to Mortgage lending
Be familiar with the Bank's Loan Origination System so that all documentation and data elements comply with current Federal regulations
Maintain active NMLS registration requirements.
Comply with all requirements of the Bank Secrecy Act
Assist supervisor in other duties as assigned.