Loan Officer

About The RoleThe Loan Officer is responsible for soliciting, analyzing, negotiating, and verifying mortgage loan applications for the purchase or refinance of residential real estate. You will act as liaison between customers and our financial institution, and you will help qualified applicants acquire loans in a timely manner. Spends more than 50% of the work time away from place of business soliciting new loans.Essential Job Duties/Responsibilities:The following job functions are not all-inclusive. The employee will be required to perform other job-related tasks/responsibilities as requested. Job duties may change as required by needs of the company.Commitment to and behavior modeling of the Company’s Core Values.Observable display of a sense of urgency in the execution of duties.Consistently spends more than 50% of work time away from place of business (including home office) in solicitation of new business.Meets with and interviews potential and current clients to understand their lending needs including first-time mortgages and refinance of existing loans.Demonstrates knowledge and communicates effectively regarding mortgage options.Explains the differences between and approval requirements of various types of mortgages; prepares and presents a lending package based on client specifications.Assists clients with completion of mortgage applications, inspecting completed documents for accuracy and thoroughness.Reviews loan applications, gathers credit histories and reports, and completes initial assessment of applicants’ capacity to repay and default risk.Maintains knowledge of trends and developments in the local real estate market; current and predicted lending rates; and changes in rules, regulations, and best practices of various mortgages.Develops and maintains contacts with customers, local realtors, developers, and builders to promote and encourage the use of bank services for residential mortgages.Ensures all originations processes are in accordance with CHM policies, procedures and state and federal regulatory laws.Maintain and protect all confidential and personal private information gathered while performing job duties.Performs other duties as assigned.Evaluate credit worthiness by processing loan applications and documentation within specified limits.Interview applicants to determine financial eligibility and feasibility of granting loans.Determine all applicable ratios and metrics and set up debt payment plans.Communicate with clients either to request or to provide information.Justify decisions (approvals/rejections) and report on them.Complete loan contracts and counsel clients on policies and restrictionsUpdate job knowledge on types of loans and other financial servicesAssess customer needs, explore all options, and introduce different types of agency and portfolio loans.Develop referral networks, suggest alternate channels and cross-sell products and services to accomplish quotas.Go the “extra mile” to build trust relationships, customer loyalty and satisfaction throughout the underwriting process.Develops and maintains contacts with customers, local realtors, developers, and builders to promote and encourage the use of bank services for residential mortgages.Operate in compliance with laws and regulations and adhere to lending compliance guidelines.May manage and direct the work of support staff.Other duties as assigned.Qualifications, Knowledge, Skills and Abilities:High school diploma required; bachelor’s degree preferred.1 to 3 years prior experience in lending or related field.Thorough understanding of FHA, VA, FNMA, FMHC, Conventional, and non-QM loans, lending products, practices, and compliance/regulations.Intermediate math skills to effectively comprehend and explain financial calculations and pricingExcellent communication and interpersonal skills.Ability to work effectively in a fast-paced environment with limited supervision.Self-motivated with an ability to work independently and in a team environment.Strong organizational skills and ability to handle detailed assignments.Familiarity with computers and lending applications/software.Must have NMLS License and applicable state licensing or ability to obtain licensing within 90 days.Must maintain all required licenses and required CE for states in which they lend.NoteThis job description is meant to describe the general nature and level of work being performed; it is not intended to be an exhaustive list of all responsibilities, duties, and skills required for the position. While this is intended to be an accurate reflection of the current job, the Company reserves the right to revise the job or to require that other or different tasks, duties, and responsibilities be performed as assigned, or to otherwise change this job description at any time with or without notice. #J-18808-Ljbffr