Private Mortgage Banker

Wells Fargo•Short Hills, NJ

About The Position

Wells Fargo is seeking a Private Mortgage Banker to solicit residential mortgages from a range of sources and produce high-quality, compliant jumbo loans while providing excellent customer service. The role focuses on building relationships with affluent borrowers and referral partners, including realtors, builders, financial professionals, bank stores, past customers, and other non-traditional sources. The banker develops visibility for Wells Fargo Home Mortgage in the assigned market and stays informed about mortgage industry trends and developments. The position involves receiving customer applications, quoting rates and points, completing registration and rate-lock follow-up, and analyzing customer needs to recommend appropriate mortgage products and loan programs. The banker reviews low- to moderately complex financial and credit information, understands appraisals, title reports, and real estate transactions, and informs customers about programs, rates, policies, underwriting requirements, and loan procedures. Timely, proactive communication and a high standard of client satisfaction and quality are expected. The role requires ongoing product, policy, procedure, and underwriting training, as well as compliance with applicable mortgage licensing, loan-originator, risk, and regulatory requirements. This SAFE position involves customer contact and may include offering or negotiating terms or taking applications for dwelling-secured transactions. Employment is contingent on meeting SAFE registration and Loan Originator qualification requirements, including applicable background and financial responsibility standards. Compensation includes an hourly base pay rate that meets or exceeds applicable minimum wage requirements, with the opportunity to earn additional commission.

Requirements

At least 2 years of Private Mortgage Banking Sales experience, or equivalent demonstrated through work experience, training, military experience, or education.
SAFE registration is required at the time of employment; Wells Fargo initiates the registration process after the employment start date.
Loan Originators must meet applicable Consumer Financial Protection Bureau qualification requirements and Wells Fargo policies, including financial responsibility, character, general financial fitness, and criminal background standards.
Successful candidates must meet ongoing regulatory requirements, including additional screening if necessary.

Responsibilities

Solicit residential mortgages from various sources.
Produce high-quality, compliant jumbo loans and provide excellent customer service.
Build relationships with affluent borrowers and referral sources, including realtors, builders, financial professionals, bank stores, past customers, and other non-traditional sources.
Develop and maintain visibility for Wells Fargo Home Mortgage in the marketplace and stay informed about mortgage industry trends and developments in the assigned market.
Present recommendations for producing loans and exercise some independent judgment while learning and adhering to sales-area policies, procedures, compliance requirements, and loan-generation practices.
Understand real estate appraisals, title reports, and real estate transactions.
Receive customer applications, quote rates and points, and complete registration and rate-lock follow-up activities.
Analyze customer needs and offer appropriate mortgage loan products.
Review and analyze low- to moderately complex financial and credit data, matching customer needs with an appropriate loan program and level of risk.
Inform prospective and existing customers about mortgage programs, rates, policies, underwriting requirements, and loan procedures.
Maintain client satisfaction and quality through timely, proactive customer communication.
Pursue company training to increase knowledge of products, policies, procedures, and underwriting requirements.
Meet SAFE registration, Loan Originator qualification, and ongoing regulatory requirements.
Follow applicable risk and compliance programs, policies, and procedures, and escalate or remediate issues as appropriate.