Loan Originator

Private Job Board; Rockford (IL); On-site; USD 9,600 - 21,000; Full time

Benefits offered by this job

Commission Pay

Bonus Pay (eligible)

Job summary

Envoy Mortgage is hiring a Loan Originator in Rockford, IL to originate residential loans and grow production. You will build relationships with realtors and clients, present loan options, and support the processing team through the closing process.

The role emphasizes compliance, ongoing education, and maintaining an active NMLS license while working primarily on commission-based earnings.

Qualifications

• Excellent communication and interpersonal skills.
• Strong time management and multitasking abilities.
• Experience in mortgage origination processes is a plus.

Responsibilities

• Promote Envoy's mortgage products to referral sources.
• Prospect and procure new loan applications meeting with potential clients.
• Educate borrowers on programs and qualification criteria.
• Ensure marketing complies with regulations.

Skills

Communication skills

Time management

Customer service

Self-motivated

Team player

Education

High school diploma

Bachelor's degree preferred

Tools

DU/DO

LO/LP

Encompass

Job description

As a Loan Originator with Envoy Mortgage we provide you with a high standard of service, support and tools, with one goal in mind -- Improving Lives! By listening to our originators and leveraging our teams and resources, we create a work environment poised for success while remaining a competitive lender and employer in the mortgage industry. Through this business approach Envoy Mortgage has been awarded Top Mortgage Employer by Mortgage Professional, 50 Best Companies to Work for by Mortgage Executive Magazine, and the Top Tech Housing Award many years running.

General Summary

The Loan Originator provides residential mortgage loans and generates leads to increase production. The Originator obtains purchase and refinance mortgage loans in accordance with established company policies and procedures and industry guidelines by calling upon realtors; builders; past clients and referral partners; while providing strong communication and support to management, production staff, underwriting, and customers.

Duties and Responsibilities

• Promote Envoy's products to Real Estate Agents, Home Buyers, other lead sources and all referral sources.
• Prospect & procure new loan applications by meeting with and presenting products to potential referral sources such as realtors, CPAs, financial planners and past clients that result in funded loans
• Educate borrowers on current offerings and programs for which they qualify
• Ensure all marketing is performed in a manner that is compliant
• Create & maintain data from new loan applications and other documents in origination system
• Reviews loans in process daily and determine priorities
• Performs document audit and resolves exceptions to approve (or reject) loan packages for funding
• Receive & process Change of Circumstances (CoC) and resubmit loan package, ensuring compliance with Fannie Mae and Freddie Mac
• Re-disclose all new loans when there is a Change of Circumstance (CoC)
• Generate and distribute Decline/Rejection letters to borrows not meeting minimum requirements, in compliance with industry guidelines and regulations
• Authorize and/or order credit reports, appraisals, flood certifications, and title work
• Defers loans that do not meet basic standards to Underwriter
• Provides follow-up on a consistent basis with internal staff, borrowers, and agents to complete processing
• Analyzes loan files and submits completed loans for approval
• Responds to inquiries from agents/referral partners and borrowers regarding status of loans in process.
• Maintains status of all files in process and updates as needed; keeps abreast of all FHA, VA, and conventional guidelines and changes that may affect loan status
• Request and gather relevant information/documents from the borrower to complete the application, its structure and all loan disclosures, in coordination with processing as well as underwriting
• Monitor the process and communicate effectively with the borrower and all other parties to the transaction on the status of the loan
• Present complete and accurate files to the Processor
• Ensure maintenance of active NMLS license and stay current with required continuing education, new products, Freddie Mac and Fannie Mae guidelines, Envoy guidelines and overlays, and HUD guidelines
• Comply with local, state and federal laws regarding position
• Adhere to all Envoy standards, including, but not limited to production minimums and customer service
• Conduct business in an ethical manner and in the best interest of Envoy, with Envoy's core values in mind
• Stay current on personal finance principles in order to offer comprehensive mortgage advice to clients
• May work more than 50% of the time out the office, is non-exempt and primarily commission-based
• Any additional duties as assigned

Qualifications include:

• High school diploma or equivalent, Bachelor's degree is preferred
• 3+ years of experience as a Loan Originator, LOA or Processor, 5+ years preferred
• Knowledge of Microsoft Excel, Word and Outlook
• In-depth knowledge of mortgage loan products (FHA/VA/CONV/USDA) and knowledge of mortgage processes, procedures, and documentation
• Working knowledge / Proficiency in Desktop Underwriter/Desktop Originator (DU/DO), Loan Prospector (LP), and originating systems, Encompass experience preferred
• Exceptional follow-up, time management, interpersonal, and verbal and written communication skills
• Willingness to learn, self- motivated, social media savvy and a forward thinker
• Excellent customer service skills and working in a team environment
• Excellent interpersonal, verbal and written skills are a must
• Must be a self-starter who is reliable, detail oriented and the ability to resolve issues
• Strong relationship building a must, along with strong written and verbal communication skills
• Ability to analyze issues and create effective resolutions, while managing multiple projects at one time.
• Must have NMLS and SAFE, UST, preferred, or able to obtain applicable State NMLS license within 30 - 90 days of employment or employment will be terminated.

Physical Requirements

• The employee must occasionally lift and/or move up to 25 pounds
• Specific vision abilities required by this job include close vision
• While performing the duties of this job, the employee is regularly required to sit, use hands to finger, handle, or feel; reach with hands and arms; and talk or hear
• The employee is occasionally required to stand; walk; climb or balance and stoop, kneel, crouch or crawl

Job Type

• Non-Exempt
• Regular Pay: $7.25 - $15.00/hour
• Commission Pay
• Bonus Pay (eligible)

NOTE: The Pay Range indicated may vary based on skills, experience, and location once a candidate is selected.

We are an equal opportunity employer and value diversity. All employment is decided on the basis of qualifications, merit and business need. We are committed to creating an inclusive environment for all employees.