Originates first mortgage loans, promotes the financial institution and its lending services to the real estate community and helps to identify and serve the community’s financial needs through home loan counseling, real estate agent seminars and sales meetings, and by participating in and promoting the financial institution’s community activities. Underwrites loan applications according to approved policies, prepares credit memos and presents requests to loan review committee for approval. Closes loans and maintains borrower files.
Major Duties & Responsibilities
- Ensures Engaging, Reliable, Inviting, Knowledgeable and Admirable customer experiences.
- Solicits first mortgage loans. Informs prospective loan clients of the financial institution’s underwriting guidelines and applicable government regulations.
- Personally interviews all loan applicants.
- Completes each loan application and all pre-processing functions in a timely manner to permit the good faith estimate to be mailed within the requested three-business day period.
- Screens loan requests based on financial institution policies and on types of loans offered by the institution.
- Orders appraisals, credit reports, background checks, reference checks and other information as needed on residential loan applicants.
- Personally answers incoming phone calls and schedules appointments.
- Communicates complex approvals or denials to the borrower, real estate agent or builder.
- Maintains and submits a source-of-business log monthly to supervisor.
- Distributes market data, rate flyers and general loan information to the real estate community as directed by financial institution management.
- Promotes and participates in the financial institution’s special credit programs and other CRA programs.
- Reviews loan applications from prospective borrowers based upon approved underwriting policies.
- Follows-up with applicants and secures the necessary information to underwrite the loan, conduct site visits if needed. Provide assistance to help potential borrowers successfully qualify for financing.
- Negotiates loan structure; negotiates work-out or default situations.
- Prepares credit memo with financial analysis.
- Presents loan requests to loan review committee.
- Prepares commitment letters.
- Works with borrower, legal counsel and Title Company to confirm that conditions of funding are met to close the loan.
- When legal counsel is not retained, prepares loan documents, reviews title and survey and files documents.
- Coordinate timing of loan funding with borrower, the institution’s portfolio manager and MHI cash manager to ensure that funds are available for closing; prepare wire transfer documents with correct coding.
- Assemble and maintain complete loan files. Verifies that complete closing transcripts have been received from legal counsel or assemble the closing transcripts when legal counsel is not retained. Communicates salient deal points to the institution’s portfolio manager who will service the loan.
- Works with lending manager to identify unfilled borrower needs, competition and lending opportunities.
- Works cooperatively and constructively with a wide variety of people, cross-functional teams, community-based organizations, banks and lawyers.
- Actively participates in local business and community activities and maintains close contact with local builders, real estate brokers and agents, customers and prospects. Represents the institution to the public; market the institution’s loan products.
- Complies with all regulations that apply within the scope of the position, including BSA, AML, OFAC and CIP.
- Participates in community events to keep with the “Team Marine” philosophy and image.
Education & Experience
- Bachelor’s degree in business, finance, real estate, or related field.
- Experience with a variety of legal documentation for real estate loan transactions.
- One to two years’ experience in a financial institution or loan office setting.
- Strong analytical, time management and organizational skills with a high level of attention to detail.
- Effective written and verbal communication skills.