Mortgage Loan Officer

Burke & Herbert Bank & Trust; Alexandria (VA); On-site; USD 60,000 - 100,000; Full time

Benefits offered by this job

Commission-based pay

Job summary

Burke & Herbert Bank & Trust seeks a Mortgage Loan Officer in Alexandria, VA to originate residential loans. You will develop sources, collect application data, and coordinate with underwriters to close loans.

This role emphasizes sales, compliance, and timely disclosures while building relationships with clients and realtors. The position offers a 100% commission-based compensation structure and requires active NMLS licensure with at least 1 year of mortgage loan sales experience.

Qualifications

• Active NMLS license required.
• Minimum 1 year of mortgage loan sales experience.
• Knowledge of FHA/VA/USDA and VHDA programs preferred.

Responsibilities

• Develop loan applications from Burke & Herbert Bank branches and external centers of influence.
• Collect data and documents; input into Encompass LOS.
• Submit to underwriting systems and respond to conditions to close loans.

Skills

Communication

Credit analysis

Lending compliance

Detail orientation

Independent work

Pipeline management

Education

Active NMLS license

1 year mortgage loan sales experience

Tools

Encompass LOS

Desktop Underwriter

Loan Prospector

Job description

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Mortgage Loan Officer

Full Time Alexandria, VA, US

It is the responsibility of the Mortgage Loan Officer to be able to handle all functions of originating a loan.

Essential Functions
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Origination Requirements

• Develop application sources through internal and external centers of influence including but not limited to: Burke & Herbert Bank branches, realtors, builders, stockbrokers, financial planners, attorneys, accountants and past customers.
• Develop new business from personal and nontraditional resources.
• Work independently.
• Complete 1003 Residential Loan Application.
• Collect all data and documents necessary to process the application. Assign loan number.
• In-put or upload application information into Loan Origination System, Encompass.
• Submit to Desktop Underwriter™, Loan Prospector™ or other decision engine.
• Issue initial disclosures accurately and in a timely manner.
• Follow up on conditions necessary to close or decline loan as requested.
• Price and lock interest rate with investor, meeting Burke and Herbert Bank pricing expectations.
• Monitor lock expiration dates for closing and delivery.

Other Banking Requirements

• Call on Burke & Herbert Bank branches in assigned territory.
• Make introduction of all market applicants to appropriate Burke & Herbert Bank personnel. Generate new leads for the Bank from outside sources.
• In consultation with Burke & Herbert Bank personnel, explore opportunities for cross-sell of other Burke & Herbert Bank products.
• Collect fees in accordance with Burke & Herbert Bank standards.
• Participate, as requested, in opportunities to promote the Burke & Herbert Bank.
• Maintains lending compliance including but not limited to: early disclosures, government monitoring, high priced mortgage loans documentation, and customer information procedures.

Closed Loan Requirements

• Expected minimum closed loan volume of $1,000,000 per month after 60 days.

Skills/Abilities

• A Mortgage Loan Officer must be able to communicate and work well with the public.
• Must have the ability to analyze credit information necessary to originate and assist in processing a residential loan application.
• Individual must have knowledge of lending compliance requirements and general knowledge of conventional and government loans available to the consumer.
• Must be resourceful and have the ability to work with secondary market investors insuring all loans meet established guidelines.
• Must be extremely detailed oriented to insure accuracy of data supporting loan files.
• Data integrity must never be compromised.
• Must have ability to work independently inside and outside the office, manage loan pipeline, follow-up with borrowers, Burke & Herbert Bank partners, and sources of business.
• Work to ensure timely loan closings.
• High Level of experience with FHA - VA - USDA and VHDA.

Education and Experience

• At least 1 year of mortgage loan sales and an active NMLS number
• Origination and sales experience.

This position is classified as Exempt under the Fair Labor Standard Act. Mortgage Loan Officers must be customarily and regularly engaged in making sales away from the bank's places of business. Compensation for this position is 100% commission based.

Supervisory Responsibility

This position has no supervisory responsibilities.

This job operates in a clerical office setting. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. Office environment with job duties conducted via telephone, face to face meetings, and on the computer.

Physical Demands

This position requires manual dexterity, the ability to lift files and opening cabinets. This position requires bending, stooping or standing as necessary.

Travel

Travel may be required for this position.

Equal Opportunity/Affirmative Action Employer M/F/disability/protected veteran status

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.