Mortgage Originator

M&T Bank; Frederick (MD); On-site; USD 60,000 - 90,000; Full time

Benefits offered by this job

Commission-based pay

Job summary

The Mortgage Loan Officer role at M&T Bank in Frederick, MD focuses on helping customers identify and obtain FHA/VA, conventional, and other residential mortgage programs that fit their finances and goals. The incumbent interviews applicants, analyzes income and credit data, assesses creditworthiness, and recommends suitable loan products while ensuring regulatory compliance and community outreach.

The position may require travel to meet borrowers and to engage with Realtors and builders to

Qualifications

• Associates degree and 2 years sales experience.
• Or 4 years higher education with 2 years sales experience.
• Thorough knowledge of FHA/VA regulations and conventional loan requirements.
• Strong communication skills, both verbal and written.

Responsibilities

• Interview applicants to collect income, assets, debts and credit data.
• Independently assess applicant’s credit worthiness and pre-qualify borrowers.
• Recommend mortgage products that meet customer needs and circumstances.
• Promote mortgage products to Realtors, builders and developers.
• Ensure lending compliance with origination procedures and regulatory requirements.
• Develop community relationships and represent the bank in seminars and outreach.

Skills

Sales experience

Interviewing applicants

Credit data analysis

Customer needs assessment

Education

Associate degree

4+ years higher education or relevant experience

Job description

Overview

Primarily responsible for working with customers interested in identifying and obtaining permanent FHA/VA and conventional mortgage loans and other residential mortgage programs that best meet the customer’s financial needs and objectives, and adhering to the requirements of federal registration under the SAFE Act.

Primary Responsibilities

• Interviews applicants to collect and analyze information regarding their income, assets, debts and credit data as well as their needs, desires, and earnings to assist in determining whether the loan will be an acceptable risk; obtains and analyzes pertinent financial and credit data.
• Independently assesses applicant’s credit worthiness. Has authority to issue pre-qualification statement of borrowers’ eligibility.
• Determines which products best meet the customer’s needs and financial circumstances and advises potential borrowers regarding the advantages and disadvantages of different financial products and the most appropriate mortgage loan programs.
• Makes recommendations to customers regarding other bank products or to alternative lending vehicles, as needed.
• Cultivates new mortgage business. Markets, services and promotes the bank’s mortgage products. This includes the solicitation of residential first mortgages through contacts with Realtors, builders, and developers.
• May be required to travel to and work at prospective customers’ homes or business locations. Follows-up on potential customers via travel or telephone.
• Negotiates terms and conditions of loan with mortgagors. Has authority to bind the bank in connection therewith.
• Ensures lending compliance with all origination procedures including bank policies and procedures and regulatory requirements.
• Advises management on effective compliance strategies and potential modifications to corporate operating policies where appropriate to ensure ongoing regulatory compliance.
• Independently monitors trends and developments in the local real estate market, as well as the changing rules and regulations pertaining to both private and government-insured mortgages.
• Represents the bank in the community and related functions to identify, develop and promote additional business. May present seminars to general public and real estate agents to promote additional business and community outreach.

Scope of Responsibilities

The incumbent always works under limited supervision, sometimes away from the office.
The position requires extensive external contacts (potential and existing customers, Realtors, etc.), as well as internal contacts (other Bank personnel) primarily on sales calls outside the office.
Will interact with individuals and teams internally and within the community assigned, developing new relationships and maintaining existing relationships
Responsibility to establish and maintain federal registration requirements outlined in the SAFE Act.

Education and Experience Required

Associates degree and 2 years sales experience,

OR in lieu of a degree,
A combined minimum of 4 years higher education and/or relevant work experience, including a minimum of 2 years sales experience.

Thorough knowledge of FHA/VA regulations, conventional loan requirements and real estate law.

Education and Experience Preferred

Technical Skills

General knowledge of personal computers and software programs utilized by Residential Mortgage Department

Proven sales ability.

Strong mathematical skills.

Self-motivated, well-organized individual.

Excellent verbal and written communication skills.

Ability to interact with individuals at all income levels and peers in a professional manner.

Demonstrated ability to work independently and to follow through on details to completion.

Ability to work under critical time constraints.

• M&T Bank is committed to fair, competitive, and market-informed pay for our employees. Compensation for this role is based on commission - a draw will be advanced. The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.

Location

Frederick, Maryland, United States of America