Mortgage Originator- Morris, Bergen, Passaic

M&T Bank Corporation; Paramus (NJ); On-site; USD 60,000 - 110,000; Full time

Benefits offered by this job

Medical benefits

Retirement plan

Paid volunteer time

Job summary

M&T Bank Corporation is seeking a Mortgage Loan Officer in Paramus, NJ to identify and obtain permanent FHA/VA and conventional mortgage loans aligned with customers’ financial needs. The role requires interviews, credit analysis, and pre-qualification decisions, with travel to client locations as needed.

Successful candidates will have knowledge of FHA/VA regulations, strong sales ability, and effective communication to advise customers on best mortgage programs.

Qualifications

• Associates degree and 2 years sales experience or equivalent work history with relevant sales success.
• Thorough knowledge of FHA/VA regulations, conventional loan requirements and real estate law.

Responsibilities

• Interview applicants to collect income, assets, debts and credit data to assess loan risk.
• Assess credit worthiness and, with authority, issue pre-qualification statements.
• Recommend mortgage products that fit customer needs and financial circumstances.
• Market and promote Mortgage products to Realtors, builders, and developers.
• Travel to clients' homes or offices as needed and follow up via travel or calls.
• Negotiate loan terms and bind the bank on loan approvals.
• Ensure compliance with origination procedures and regulatory requirements.

Skills

Sales ability

FHA/VA knowledge

Communication skills

Customer interviewing

Education

Associate degree

Mortgage originator license

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, including 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 and 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.) and 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.

Compensation

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

Paramus, New Jersey, United States of America

Benefits and Company Culture

• Competitive benefits ranging from medical and retirement to forty hours of paid volunteer time, each year.
• Our core values - integrity, ownership, collaboration, curiosity, and candor - drive the work we do.

About M&T Bank

M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T’s affiliates offer advice, guidance, expertise and solutions across the entire financial spectrum, combining M&T Bank’s traditional banking services with the wealth management and institutional capabilities offered by Wilmington Trust. M&T Bank has a network of over 1,000 branches and 2,200 ATMs that span 12 states from Maine to Virginia and Washington, D.C. For more than 165 years, M&T has strived to take an active role in our communities and build long-lasting relationships with our customers. We are a bank for communities- combining the capabilities of a large bank with the care of a locally focused institution.

As an employer of choice, we are proud to offer competitive benefits ranging from medical and retirement to forty hours of paid volunteer time, each year. Our core values - integrity, ownership, collaboration, curiosity, and candor - drive the work we do. We seek to further build upon our record of success by bringing in top talent and fresh skill sets while continuing to support the growth and development of all our team members. View M&T’s Human Capital Report to learn more.

Equal Employment Opportunity Statement

M&T Bank is unwavering when it comes to providing equal employment opportunities to all employees and applicants without regard to race, color, national origin, religion, ethnicity, sex, gender identity, age, disability, citizenship, pregnancy, veteran status, military status, marital status, sexual orientation, genetic information or any other characteristic protected under applicable federal, state or local laws.