Outside Loan Originator

AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY•Toms River, NJ

3d•$13,500 - $65,000•Onsite

About The Position

AnnieMac Home Mortgage is hiring a full-time External Mortgage Loan Originator to develop referral-source relationships and generate a steady flow of mortgage loan volume from real estate brokers and other external sources. The primary duty is selling mortgage loans to customers away from and outside AnnieMac Home Mortgage’s places of business; work performed in company offices is related and supplemental to outside sales. The role operates under the direct supervision of the Branch Manager and requires travel 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.
Experience directly related to the mortgage industry.

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.
Collect borrower information and complete loan applications.
Develop referral-partner relationships, such as with realtors, to generate customers.
Analyze prospective borrowers’ income and debt and pre-qualify them to determine the maximum mortgage they can afford.
Counsel prospective borrowers on home buying and financing, explain available loan products, and demonstrate how closing costs and monthly payments vary among products.
Collect financial information and related application documents, including tax returns and bank statements.
Provide borrower disclosures, including truth in lending and good faith estimate disclosures.
Advise borrowers on understanding and clearing credit problems.
Maintain contact with borrowers, realtors, and the lender between application and closing to provide application updates and gather additional information as needed.
Order legal documents.
Review HUDs prior to closing.