Part Time Outside Loan Originator
About The Position
This part-time role works fewer than 20 hours per week to establish referral-source relationships and generate a steady flow of loan volume from real estate brokers and other external sources. The primary duty is to sell mortgage loans to customers away from AnnieMac Home Mortgage’s places of business; work performed in the company’s offices is related and supplemental to outside sales. The role develops referral relationships, generates and supports mortgage applications, evaluates prospective borrowers’ finances, and advises borrowers on loan products and the home-buying and financing process. It maintains communication with borrowers, realtors, and lenders through closing, gathers required documentation, provides disclosures, orders legal documents, and reviews closing disclosures. The employee must complete mandatory company training within required timelines. Travel is required 80% of the time.
Requirements
- Must have the appropriate state license or certificate, which varies by state.
- Thorough knowledge of pricing and underwriting requirements of various mortgage insurance companies.
- Working knowledge of credit underwriting and property eligibility requirements for FNMA, FHLMC, FHA, VA, local bonding programs, and private investors.
- Familiarity with local, state, and national laws, including zoning ordinances, Truth in Lending, RESPA, and energy audit requirements.
- Excellent communication skills and ability to analyze financial information.
- Sales-oriented self-starter.
- Able to work independently.
- High school education level.
Responsibilities
- Generate new business by building and maintaining relationships with realtors, real estate agents, title and escrow officers, financial advisers, CPAs, and other relevant professionals.
- Participate regularly in mortgage sales activities, including attending closings and open houses and conducting seminars and other lead-generating activities.
- Take borrower information and complete loan applications.
- Develop relationships with referral partners, such as realtors, to generate new customers.
- Analyze prospective borrowers’ income and debt and pre-qualify them to determine the maximum mortgage they can afford.
- Counsel prospective borrowers about the home-buying and financing process and explain available loan products, including differences in closing costs and monthly payments.
- Collect financial information and related application documents, including tax returns and bank statements.
- Provide disclosures to borrowers, including Truth in Lending and good faith estimate disclosures.
- Counsel and advise borrowers on understanding and clearing credit problems.
- Maintain contact with borrowers, realtors, and lenders between application and closing to provide application-status updates and gather additional information as needed, including for borrowers and realtors working with other loan originators on the team.
- Order legal documents.
- Review the closing disclosure before closing.
- Complete mandatory company trainings within required timelines.
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What This Job Offers
Job Type
Part-time
Education Level
High school or GED
