VP Mortgage Lending

Old Second National Bank • Downers Grove, IL

8h • Hybrid

About The Position

The VP Mortgage Lending position is primarily responsible for proactively developing and maintaining a network of realtors and other sources of business through outside sales efforts, which must account for at least 50% of work time, to originate quality residential mortgage loans in accordance with Old Second policies and procedures. Loan officers are also required to visit each assigned bank branch at least once a week.

The position involves sourcing and originating mortgage loans, developing external referral relationships, reviewing applications, and coordinating loan processing and underwriting. The loan officer maintains communication with customers and other parties throughout the loan process, participates in community and business groups, works with assigned branches on internal referrals, coordinates biweekly branch training huddles, and uses SalesForce to keep internal referral partners informed about referral customers' progress.

The position is described as hybrid. With management approval, the incumbent may work a combination of remote and onsite work; actual scheduling may vary according to business needs. The minimum requirements also state that the employee must be available to work onsite at least four days per week.

Requirements

• High school diploma or equivalent and at least three years of residential and/or consumer lending experience, or retail banking experience, or an equivalent combination of education and experience.
• Must be available to work onsite at least four days per week.
• Must obtain and maintain NMLS registration.
• After hire, must meet Residential Lending Minimum Production Standards.
• Demonstrated sales ability and experience marketing to the real estate community.
• Experience originating conventional and government single-family and multifamily (1–4 unit) residential loans.
• Knowledge of government regulations and secondary-market standards.
• Self-motivation, high energy, and strong organizational and follow-up skills.
• Thorough knowledge of lending regulations, conventional and/or government loan regulations, and compliance.
• Professional appearance and demeanor.
• Ability to maintain and demonstrate a team relationship with all employees.
• Ability to set appropriate customer expectations according to market conditions and collect upfront documentation as needed.

Responsibilities

• Proactively source and originate new mortgage loans, spending at least 50% of work time on outside sales activities.
• Make and solicit loan sales and conduct sales-related activities outside Old Second locations as a customary and regular part of the role.
• Establish referral relationships with real estate brokers and other external sources to generate a steady flow of loan volume.
• Conduct preliminary reviews of completed loan applications and submit them to processing and underwriting for approval.
• Maintain knowledge of lending programs and communicate consistently and thoroughly with involved parties throughout the loan process to ensure customer satisfaction.
• Identify and participate in appropriate community and business groups and attend functions in the assigned area to develop and maintain business relationships.
• Work with assigned branches to obtain and close internal referrals.
• Coordinate morning training huddles with all bank branches every two weeks.
• Use SalesForce to keep internal referral partners updated on the progress of their referral customers.
• Visit all assigned bank branches at least once a week.

Benefits

• Variable commissions based on closed loan volume: 40 basis points for internal referrals and 100 basis points for external referrals; subject to change and governed by the compensation agreement.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: High school or GED