| 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: |
- 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.
- 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.
- 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.
- 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.
- 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.
- Produce all required reports including marketing plans and
monthly activity summaries. Comply with Corporate requests
regarding portable hardware and software maintenance
requirements.
- Cross-sell all optional products and services that the
Company offers to consumers.
- Perform other job related duties or special projects as
required.
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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. |
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