Part Time Outside Loan Originator

AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY•East Rutherford, NJ

About The Position

This part-time position, requiring less than 20 hours per week, focuses on establishing referral source relationships to generate a steady flow of loan volume from real estate brokers and other external sources. The primary duty involves selling mortgage loans to customers away from and outside of AnnieMac Home Mortgage’s places of business, with any work done at the company's offices being supplemental to these outside sales activities. The role requires generating new business by building and maintaining relationships with various professionals such as realtors, real estate agents, title and escrow officers, financial advisers, and CPAs. Responsibilities include active participation in mortgage sales, attending closings and open houses, conducting seminars, taking loan applications, pre-qualifying prospective borrowers, and counseling them through the home buying and financing process. The originator will also collect financial information, provide necessary disclosures, assist borrowers with credit problems, and maintain regular contact with all parties involved from application to closing.

Requirements

Must have appropriate state license or certificate (varies by state).
Must have a thorough knowledge of pricing and underwriting requirements of various mortgage insurance companies.
Must have a working knowledge of credit underwriting and property eligibility requirements for FNMA, FHLMC, FHA, VA, local bonding programs and private investors.
Must be familiar with local, state and national laws (e.g. zoning ordinances, Truth-in Lending, RESPA, energy audit requirements, etc.).
Must have excellent communication skills.
Ability to analyze financial information.
Must be a sales-oriented self-starter.
Must be capable to work independently.

Responsibilities

Establish referral source relationships for a steady flow of loan volume from real estate brokers and other external sources.
Sell mortgage loans to customers away from and outside of AnnieMac Home Mortgage’s places of business.
Generate new business by building and maintaining relationships with realtors, real estate agents, title and escrow officers, financial advisers, CPAs, and other relevant professionals.
Regularly participate in mortgage sales including, but not limited to, attending closings and open houses, and conducting seminars and other lead-generating activities.
Take information from the borrower and fill out the loan application.
Develop relationships with referral partners such as realtors to generate new customers.
Analyze the prospective borrower’s income and debt and pre-qualify the prospective borrower to determine the maximum mortgage that the prospective borrower can afford.
Counsel the prospective borrower in the home buying and financing process, advising the borrower about the different types of loan products available, and demonstrating how closing costs and monthly payments would vary under each product.
Collect financial information (tax returns, bank statements) and other related documents that are part of the application process.
Provide disclosures to the borrower, including truth in lending, good faith estimate, and others.
Counsel and advise the borrower in understanding and clearing credit problems.
Maintain regular contact with the borrower, realtors, and the lender, between application and closing to apprise them of the status of the application and to gather any additional information as needed.
Maintain regular contact with borrowers, realtors for other loan originators on the TEAM.
Order legal documents.
Review closing disclosure prior to closing.
Complete mandatory company trainings within the required timelines.