Mortgage Loan Originator

Sturgis Bank & Trust Company; Battle Creek (MI); On-site; USD 60,000 - 90,000; Full time

Job summary

Sturgis Bank & Trust Company in Michigan seeks a Mortgage Loan Originator to initiate the mortgage process, interview applicants, explain loan programs and collect required documents. You will analyze and verify applications to determine eligibility and move them toward closing.

You will maintain strong relationships with realtors and clients, ensure disclosures are provided in a timely manner, and work closely with processors and underwriters to resolve issues throughout the loan lifecycle.

Qualifications

• Minimum of 5 years of experience as a Mortgage Loan Originator (MLO).
• Proven track record of originating residential mortgage loans and managing the loan process from application through closing.
• Familiarity with mortgage programs, underwriting guidelines, and disclosure requirements.

Responsibilities

• Meet with potential customers to evaluate their financial background and homeownership goals.
• Develops a business relationship with realtors, developers and builders to promote mortgages.
• Collect financial documents and information, complete loan applications, and ensure accuracy.
• Resolve any application issues and keep applicants informed throughout the process.
• Provide disclosures in a timely manner as required by regulations.
• Review mortgage files by reconciling income, appraisal values, credit history, etc., and determine loan terms.
• Conduct closings with buyers, sellers, real estate agents, and attorneys, and explain closing statements.

Skills

Communication skills

Team player

MLO knowledge

Analytical ability

Regulatory compliance

Customer service

Education

NMLS license

Job description

Summary:

The Mortgage Loan Originator will initiate the mortgage process for potential clients, preparing, analyzing and verifying mortgage loan applications for the purchase or refinance of real estate. The originator will interview residential mortgage loan applicants, explain the different loan programs available and their requirements. Obtains pertinent financial and loan information and conducts a preliminary analysis to determine if the application meets established minimum criteria.

Key Responsibilities:

• Meet with potential customers to evaluate their financial background and homeownership goals.
• Develops a business relationship and maintains contacts with local realtors, developers and builders to promote and encourage the use of bank services and residential mortgages.
• Collect the financial documents and information needed to complete a mortgage application, performing research and conducting interviews as needed, and ensure that all information is complete and accurate.
• Resolve any application issues.
• Keep an open line of communication with applicants throughout the process, providing updates and answering any questions that arise.
• Complies with and provides all disclosures applicable to residential mortgage lending rules, regulations and guidelines to the applicant/borrower within the timeframes required by regulation or law.
• Reviews the mortgage file by reconciling income, appraisal value, credit history, or other discrepancies; determines and recommends the terms and conditions of the loan and completes the work sheets for the file.
• Conducts closing with buyers, sellers, real estate agents, attorneys, and others. Reconciles the closing statement and explains figures and charges to appropriate party.
• Inform customers when their applications have been approved or denied.
• Cross-sells bank services for business development and relationship building.
• Disburses construction loan funds after ordering and reviewing the proper documentation, such as construction progress inspection report, sworn statements, and waivers of lien, surveys, and insurance documents.
• Other tasks as assigned.

Supervisory Responsibilities:

No supervisory responsibilities.

Requirements

Qualifications:

• Excellent communication skills, both verbal and written
• Must have excellent customer service skills and be able to work in a team environment.
• Ability to make responsible mortgage recommendations based on research, personal expertise, and customers’ financial backgrounds.
• Ability to work collaboratively with loan processors, loan assistants and underwriters.
• Ability to handle sensitive and/or confidential information professionally and discreetly.
• Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, and percentages.
• Ability to communicate effectively with office staff, realtors, title companies and incoming/potential customers.

Education and/or Experience:

• Minimum of 5 years of experience as a Mortgage Loan Originator (MLO) required.
• Must have a proven track record of originating residential mortgage loans and managing the loan process from application through closing.

Certificates, Licenses, Registrations:

NMLS

Work Environment:

General office working conditions exist. The Mortgage Loan Originator may experience sustained moderate/high periods of activity with multiple tasks being performed. They may experience communication with a variety of internal and external sources under favorable and sometimes unfavorable conditions.