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Residential Mortgage Loan Originator in Memphis at Vaco

Date Posted: 6/25/2018

Job Snapshot

  • Employee Type:
    Full-Time
  • Location:
    Memphis
  • Job Type:
    Banking
  • Experience:
    At least 2 year(s)
  • Date Posted:
    6/25/2018
  • Job ID:
    149076

Job Description

POSITION PURPOSE

Proactively solicits new residential mortgage business and sell mortgage products to meet established loan quality and production goals. Continually identifies, develops and maintains a quality network of business relationships that serves as a recurring source of referrals for new mortgage lending opportunities.


ESSENTIAL FUNCTIONS AND BASIC DUTIES

  • Conducts interviews with prospective borrowers in order to analyze financial and credit data, determine member mortgage financing objectives, advise members of product/pricing policies and guidelines, and gathers any additional required information.
  • Responds to member inquiries and referrals that are generated from both their own contacts and from other business channels.
  • Ensures exceptional member service by maintaining thorough knowledge of lending programs, policies, procedures and regulatory requirements, demonstrating a commitment to professional ethics, complying with all Federal and State compliance policies and requirements.
  • Utilizes training materials, reference tools and other resources to provide accurate and up-to-date loan program/policy information to both external customers and internal business partners.
  • Provides complete loan applications to mortgage lending center and partners.
  • Ensures exceptional member experience by overseeing the loan process from origination to close and provides on-going communication to members and business partners.
  • Oversees and ensures successful completion of all assigned Residential Mortgage Loan Originator Training activities.
  • Reviews and analyzes individual residential mortgage loan requests to determine approval or denial.
  • Reviews financial statements, credit reports, ratios (i.e. Debt ratios, loan-to-value), appraisals, title reports and other relevant file documentation.
  • Validates borrower income, employment information, and value of a borrower's collateral and assets.
  • Reviews submitted files to qualify for Fannie Mae, Freddie Mac, FHA, VA, and USDA (Rural Development) guidelines as per automated findings.
  • Reviews and evaluates information on mortgage loan documents to determine if conditions meet established investor standards.
  • Ensures that the property specifications and loan terms meet financial institution requirements and government regulations.
  • Ensures compliance with industry standards, state and federal laws and disclosure requirements and that documents are consistent and uphold to company and industry guidelines.
  • Prepares formal reports of final underwriting decision.
  • Assists with re-negotiations of loans based on lending guidelines.
  • Communicates loan decisions to internal lenders, coordinators and/or processors.
  • Explains Fannie Mae/Freddie Mac, corporate, and investor guidelines to customers, loan processors, and sales associates.
  • Documents the reasons for approval or denial of the loan in the loan file.
  • Contacts customers and/or internal associates to gather information to make appropriate decisions and/or explain rationale behind credit decision.

QUALIFICATIONS

  • High school graduate or equivalent. 2-4 year college degree preferred.
  • Active registration with the Nationwide Mortgage Licensing System and Registry.

EXPERIENCE REQUIRED:

  • Two years residential mortgage lending experience with a focus on generating self-sourced business

REQUIRED KNOWLEDGE:

  • Demonstrated understanding of residential mortgage underwriting and closing procedures.
  • Understanding of Federal Regulations governing residential real estate lending.
  • Knowledge of conforming and government mortgage loan guidelines.

SKILLS/ABILITIES:

  • Strong computer skills including fundamental understanding of AUS applications, database management and laptop technology for communication purposes, including accessing rate, credit and loan status information.
  • Solid time management skills and the ability to organize, prioritize, and perform multiple tasks simultaneously.
  • Ability to communicate clearly and effectively, both verbally and in writing, across a variety of audiences.
  • Ability to analyze and comprehend complex financial data and provide financial alternatives.
  • Professional and effective interpersonal skills.
  • Enthusiasm for assignments and the ability to meet established timelines.

WORKING CONDITIONS:

  • Typical office environment
  • Some local travel required
  • Flexible and additional hours may be required to meet deadlines and during peak periods



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