Mortgage Loan Officer (Full Time) - Plano

Prosperity Bank; Plano (TX); On-site; USD 70,000 - 110,000; Full time

Job summary

Prosperity Bank is seeking a Mortgage Loan Officer to source and process mortgage loan opportunities from internal and external leads. You will gather documents, explain the loan process, and set expectations while coordinating with underwriting and fulfillment teams.

You’ll leverage relationships with realtors, builders, and financial planners to generate referrals, while ensuring compliance with FNMA/FHLMC, FHA, and VA guidelines and maintaining customer information security.

Qualifications

• Knowledge of bank consumer mortgage lending policies, procedures and guidelines.
• Understanding of financial analysis and determination of credit worthiness. NMLS certified.
• 3 to 5 years of mortgage banking experience, including FNMA/FHLMC, FHA, VA knowledge.
• Excellent communication and public relations skills.
• Financial analytical skills.
• Solid interviewing skills.
• Able to use related computer applications and business machines.

Responsibilities

• Originate mortgage loans through bank channels and referrals.
• Meet production targets: 5 units or $1.0M monthly; 15 units or $3.0M 90-day rolling.
• Coordinate with mortgage fulfillment and bank staff to ensure smooth referrals.
• Present mortgage products that meet customers' financial needs.
• Maintain adherence to lending standards, policies, and regulatory requirements.

Skills

Communication

Financial analysis

Interviews

Computer skills

Education

High school graduate or equivalent

NMLS certified

Advanced degree preferred

Job description

• A pre-employment credit check will be performed on all qualified applicants.*
• A pre-employment credit check will be performed on all qualified applicants.*

Prosperity Bank is an Equal Opportunity Employer.

POSITION PURPOSE

The responsibility of the Mortgage Loan Officer (MLO) is to source new mortgage loan business from leads generated inside and outside of the Bank. The MLO is to take loan applications, review the application and provide the applicant a list of documents necessary to support the information in the application, set realistic expectations about the mortgage loan process for the applicant(s) and provide regular updates to the applicant(s) and other interested parties. The MLO will discuss relevant mortgage related facts and issues with applicants concerning ability to repay, bank credit policy and documentation necessary to present to underwriting for credit decision. The MLO needs to be familiar with Bank credit policy and guidelines of the GSE’s, FHA and VA.

Essential Functions And Basic Duties

• The principal responsibility of the MLO is the origination of eligible mortgage loans. This requires focus on the marketing activities necessary to generate mortgage loan referral activity from Prosperity Banking Centers, realtors, home builders, financial planners, networking groups, trade associations and personal sphere of influence.
• MLOs have a minimum production expectation:
  • Monthly: 5 units or $1.0 Million in eligible loan volume
  • 90 day rolling average: 15 units or $3.0 Million in eligible loan volume
  • The above represents the minimum expectation.
• If the MLO is provided a Prosperity Bank assignment, the MLO is to visit the Bank on a regular basis to build internal relationships, educate the Bank employees about the ways to introduce Bank customers to the mortgage department and look for opportunities to introduce non-bank mortgage customers to the variety of financial services offered by Prosperity Bank with a warm handoff to the Bank employees in the assigned Banking Center. The mortgage referrals received from the Bank should be an adjunct to their self-sourced business.
• Responsible for establishing and maintaining effective communication, coordination, and working relations with Bank personnel in the mortgage fulfilment area and with management.
• As an MLO, you are to present yourself in a professional manner, representing Prosperity Bank with the highest level of professional conduct and ethical behavior, while always looking after the safety of the customer’s personal information and the best interest of the Bank.
• The MLO is to meet with potential customers to understand their financial needs and present them with the best mortgage products to suit those needs.
• The MLO is to oversee the customer experience through the entire loan process, from origination and analysis to loan closing.
• The MLO is to stay informed of, and abide by, the lending standards and related legal requirements and always strictly adhere to all Bank policies, regulatory and legal requirements.

The above statements describe the general nature and level of work only. They are not an exhaustive list of all required responsibilities, duties, and skills. Other duties may be added, or this job description amended at any time.

Supervisory Responsibilities

This role has no supervisory duties.

Qualifications

Education/Certification:

High school graduate or equivalent, advance degree preferred.

Required Knowledge

Knowledge of Bank consumer mortgage lending policies, procedures, and guidelines.

Understanding of financial analysis and determination of credit worthiness. NMLS certified.

Experience Required

3 to 5 years of prior mortgage banking experience, including a working knowledge of FNMA/FHLMC, FHA, VA.

Skills/Abilities

Excellent communication and public relations skills.

Financial analytical skills.

Solid interviewing skills.

Able to use related computer applications and business machines.

PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.

Average Hearing

Able to hear average or normal conversations and receive ordinary information.

Repetitive Motion

Movements frequently and regularly required using the wrists, hands, and/or fingers.

Average Visual Abilities

Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.

Driving And Mobility

This position is largely an outside sales position. As such, you will be expected to hold a valid driver license in your State, maintain required automobile insurance and abide by the standards for cell phone use as described in the employee handbook.

Physical Strength

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions:

Ability to withstand moderate physical activity throughout the workday (standing, walking, reaching, driving).

Ability to sit for extended periods of time.

Ability to lift or move up to 25 pounds on occasion.

Ability to maintain attention and concentration for extended periods of time.

WORKING CONDITIONS

None

No hazardous or significantly unpleasant conditions (such as in a typical office).

MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

Ability to deal with a variety of variables under only limited standardization.

Able to interpret various instructions.

Mathematics Ability

Ability to compute interest, payments, profit and loss, financial ratios, percentage, cash flow, and debt service.

Able to perform very simple algebra.

Language Ability

Ability to read a variety of books, magazines, instruction manuals, atlases, and encyclopedias.

Ability to prepare memos, internal loan applications, reports, and essays using proper punctuation, spelling, and grammar.

Ability to communicate distinctly with appropriate pauses and emphasis, correct pronunciation (or sign equivalent), and variation in word order using present, perfect, and future tenses.

Hours: Monday - Friday 9:00 am to 5:00 pm