Mortgage Loan Originator - Greater Chicago

Merchants Bank of Indiana; Chicago (IL); In loco; USD 31.000 - 38.000; Tempo pieno

Vantaggi offerti da questo lavoro

Health insurance

Vision plan

Dental care

401K

ESOP

Tuition assistance

4 weeks PTO

Descrizione del lavoro

Merchants Bank of Indiana is seeking a Mortgage Loan Originator in Chicago to grow residential mortgage business, interview applicants, analyze credit, and negotiate terms and collateral. You will build relationships with real estate professionals and referral sources to drive home lending opportunities.

In this role you will establish credit terms, explain products to customers, and participate in community events to expand the bank's visibility while supporting a broad suite of mortgage

Competenze

• Two years of mortgage lending experience is required.
• Thorough knowledge of residential mortgage process, underwriting criteria, and guidelines.
• Requires NMLS/S.A.F.E. Act registration.
• Outside mortgage sales experience and referral networking experience is required.

Mansioni

• Develop and nurture relationships with real estate agents, financial planners, and other referral sources.
• Interview applicants to collect and analyze financial data for loan approval.
• Explain credit terms, costs, repayment methods, and collateral requirements.
• Promote bank products and services to generate residential mortgage applications.
• Represent the bank at community events and serve as liaison for non-borrowing accounts.

Conoscenze

Mortgage lending experience

NMLS registration (SAFE Act)

Referral networking

Customer relationship building

Descrizione del lavoro

Description

Our Mortgage Loan Originators (MLO) are here to help grow and develop new residential mortgage businesses by assisting customers to meet their home lending goals through our products and programs, along with analyzing the creditworthiness of applicants and negotiating terms, and collateral requirements. You will also work on developing and nurturing relationships with referral sources (real-estate agents, financial planners, community groups, builders, attorneys, etc.).

After one year as our Mortgage Loan Originator, you know you were successful if you…

• Develop new business by utilizing referrals through centers of influence to contact prospective customers and promote and cross-sell bank products and services.
• Develop and maintain new and existing relationships with realtors, builders, current customers, and banking center staff to generate residential mortgage applications.
• Interview prospective loan applicants to collect and analyze financial data to determine the merits of the specific loan request.
• Establish credit terms including costs, repayment methods, schedule, and collateral requirements.
• Have communicated and advised customers concerning financial matters to determine products that best met their needs.
• Participate in community and networking events to generate new business opportunities and enhance the bank’s visibility.
• Serve as the liaison for non-borrowing accounts and loan customers for other bank services.

Requirements

What we are looking for…

• Two years of mortgage lending experience is required.
• Thorough knowledge and understanding of residential mortgage process, underwriting criteria, and guidelines.
• This position requires S.A.F.E. Act registration through the Nationwide Mortgage Licensing System (NMLS).
• Outside mortgage sales experience and referral networking experience is required.

What sets Merchants Mortgage apart…

• We have the full support of our executive leadership team. We are not a bank that sells mortgages, we are a mortgage company.
• We are small enough to provide personal service, but large enough to provide a full menu of products.
• Our entire team is readily available (onsite) to discuss questions or resolutions to issues that might arise.
• Stability – we think long-term and are looking for Mortgage professionals who think long-term too!

Our Benefits:

• Health
• Vision
• Dental
• 401K
• ESOP
• 100% Tuition Assistance
• 4 weeks paid time off
• plus a few more.

Salary Information:

approximately $34,500 annually + commissions earned

About Merchants

Ranked as a top performing U.S. public bank by S&P Global Market Intelligence, Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple segments, including Multi-family Mortgage Banking that offers multi-family housing and healthcare facility financing and servicing; Mortgage Warehousing that offers mortgage warehouse financing; and Banking that offers retail and correspondent residential mortgage banking, agricultural lending, and traditional community banking.

Merchants Bancorp, with $18.8 billion in assets and $11.9 billion in deposits as of December 31, 2024, conducts its business primarily through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Merchants Capital Investments, LLC, Merchants Capital Servicing, LLC, Merchants Asset Management, LLC, and Merchants Mortgage, a division of Merchants Bank of Indiana. Merchants Bank and Merchants Capital have recently been honored with the 2025 USA Today Top Workplaces recognition, ranking 22nd nationally within the 500-999 employee category. This is the second year that Merchants has been recognized with this award. These accolades build on our strong history of workplace recognition, including being named a Best Place to Work in Indiana for seven consecutive years (2016–2022). For more information read the entire article here.