Mortgage Loan Officer
Mortgage Loan Officer Job Overview
A mortgage loan officer or mortgage loan originator (MLO) assists new and potential loan applicants with navigating the mortgage loan process from start to finish. They are responsible for securing loan file financial documents from potential borrowers, analyzing the loan file data, and consulting with prospective borrowers to educate them on varying loan products. They work with loan processors and lending underwriters to ensure the mortgage loan application meets regulatory and financial institution guidelines for lending. Loan officers generally work at a financial institution, credit unions, or mortgage lending companies.
Mortgage Loan Officer Job Template
Mortgage Loan Officer Job Summary
We are seeking an experienced mortgage loan officer with strong marketing, communication, and analysis skills to join our team and assist loan applicants in securing the ideal mortgage for their new home purchase. Our organization provides the support, and tools you need to bring your business to the next level. If you are passionate about providing top-notch service to your clients and have a proven track record of retaining and building your client list, please send us your resume today!
Mortgage Loan Officer Responsibilities
- Prospect, develop, and maintain relationships with potential new business referral partners such as realtors, builders, bank colleagues, and the community at large
- Collect and analyze prospective buyer income, assets and liabilities, background check, and loan application documents to determine creditworthiness
- Counsel borrowers to understand the pros and cons of different loan products to determine which is best for them
- Interact with customers, realtors, processors, and underwriters to ensure a smooth transaction
- Review the loan process by monitoring loan status, term conformity, and regulatory guidelines
- Exceed our production standards by maintaining an active pipeline
Mortgage Loan Officer Qualifications
- Bachelor's degree in business, finance, banking, real estate, or a related field
- Several years of experience in real estate, mortgage origination, or lending required
- Current NMLS State License or Federal NMLS Registration
- Knowledge of FHA, VA, USDA, conventional, fixed/ adjustable loans, Bridge Loans, Non-Conforming Loans, FNMA and FHLMC, and Home Equity Lines of Credit
- Knowledge of state and federal regulations, and company underwriting policies and guidelines
- Possess excellent written and verbal communication skills, superb interpersonal and customer service skills, and exceptional decision-making ability
- Understanding of loan originator software such as Experian, LendingWise, or Calyx, and Office Suite highly preferred
Mortgage Loan Officer Compensation
$82,077 (National Average)
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