Posted March19, 2008



Job Position Residential Loan Officer
   
Reports to: President, Mortgage Company
Department: Loan Origination
Supervises: 0
Education: High School Diploma or equivalent and two to four years experience.  Bachelor's Degree in Business, Finance or related field
Experience: 4 - 6 years mortgage origination or related experience required.

Qualifications:  
Special Skills: Good understanding and knowledge of bank's products and services.  Good cross -selling, management and organizational skills.  Strong oral and written communications skills.  Proven public relations skills.
Position Summary: Interviews applications for residential loans.  Analyzes and screens preliminary loan requests on varied types of loans.  Order appraisals and credit reports.  Packages loans as required.  May recommend terms and conditions of loan.  Informs prospective borrower of loan commitment and reviews ongoing financial condition of borrower and status of line of credit, etc.  

Internal:  Daily contact with Processing staff, Closers, Underwriting, Branch Mgmt., Regional Mgmt. 

External:  Frequent contact with Buyers, Sellers, Real Estate Agents, Builders, Appraisers, Correspondents, and Banks.
Essential Duties
for the Position:
  1. Initiate contact and maintain a favorable relationship with real estate agents, builders, brokers, and home buyers and sellers to obtain a suitable volume of home loan applications, negotiated at the most favorable terms available for the company.
  2. Increase market share within the real estate community by aggressively seeking new loan applicants, including those that meet the Company's Affordable Housing objectives.  Obtain from home buyers the required information to compile FHA, VA and Conventional loan applications.  Pre-qualify and complete loan applications within 24 hours of receipt to ensure the customer receives efficient service.  Maintain proficiency with changing lending procedures, regulations and lending provisions of state and federal laws to ensure applications comply with regulatory and investor criteria.  Enter complete borrower information on to 1003 forms or utilize laptop procedure for paperless submission.
  3. Counsel real estate agents, builders, brokers and home buyers on appropriate home financing methods from individual cases.  Promptly communicate to all parties involved in the loan application process, information that is needed for loan approval.  Answer customers' questions and return all phone calls in a timely manner to ensure high quality service.
  4. Assist with all loans in process to minimize problems and delays ensuring an expedient closing.  Pre-underwrite loan applicant's credit history, employment stability and asset base to determine credit worthiness.  When necessary, review property and locations to assist support staff in ascertaining sufficient value to ensure loan security.
  5. Provide continuing education on prudent lending practices to real estate agents, builders, brokers, and any correspondent relationships.  Inform and advise all parties involved regarding the progress of loan applications, processing problems and loan approval.
  6. Produce all required reports including marketing plans and monthly activity summaries.  Comply with Corporate requests regarding portable hardware and software maintenance requirements.
  7. Cross-sell all optional products and services that the Company offers to consumers.
  8. Perform other job related duties or special projects as required.


Federal Trust Bank promotes an equal employment opportunity workplace which includes reasonable accommodation of otherwise qualified disabled applicants and employees so long as this does not create an undue hardship on the company. Please see your manager should you have any questions about this policy or these job duties. This job description may not be all-inclusive and employees are expected to perform all other duties as assigned and/or directed by management. Job descriptions and duties may be modified when deemed appropriate by management.  Federal Trust is an EEO/AA Employer M/F/V/D.

All employees are responsible for regulatory compliance as it relates to their position. Department managers are to be primarily responsible for maintaining proficient knowledge and day-to-day compliance with any laws or regulations relative to their departments. In addition, it is the responsibility of the department managers to notify the Compliance Officer if at any time they become aware of a situation which may place the Bank at risk of being out of compliance.

All employees have a responsibility to understand the Bank Secrecy Act as it relates to their job and to identify and report qualifying transactions to the Bank Secrecy Act Officer.