Mortgage Loan Originator
Company: Reading Co-Operative
Location: Lawrence
Posted on: May 21, 2023
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Job Description:
SUMMARYUnder the direction of the VP, Residential and Consumer
Lending Manager the Mortgage Loan Originator (MLO) will perform a
wide range of mortgage origination and business development
functions to achieve residential sales goals. This position will be
based in the Lawrence market. The successful candidate will be
comfortable cold calling and forming relationships with for example
Real Estate Agents and other prospective customers. He/she will be
comfortable participating in networking events. The MLO is
responsible for generating high quality residential mortgage loans
which meet Reading Cooperative Bank and secondary market guidelines
while providing excellent customer service.ESSENTIAL DUTIES AND
RESPONSIBILITIES:Originate high quality residential mortgages,
including Conventional; Jumbo; VA; MA Housing Partnerships and
second mortgages, which meet Reading Cooperative Bank and secondary
market guidelines.Develop knowledge of RCB products, policies,
procedures and underwriting requirements.Interview and guide loan
applicants through the mortgage loan application process. Ensures
applications are completed accurately, contain required information
and are in compliance with state and federal regulatory
requirements.Enter information into the loan origination system.
Create supporting files with needed credit documentation for
underwriting and regulatory purposes.Develop plans to achieve sales
goals in terms of specific actions and steps needed as well as
planning and managing time effectively. Inform management of
progress relative to goals on a regular basis.Analyze applicant's
financial status, credit, and estimated property value to determine
feasibility of granting loan. Submit a complete, accurate loan
application to loan processing within procedural
timeframes.Communicate loan decisions directly to the customer,
outline terms and conditions and explain any additional information
needed.Develop and maintain business partnerships with Realtors in
the RCB community.Participate in activities designed to promote
homeownership including home buyer seminars, home shows, broker
meetings, civic activities, and other business development
activities to boost loan origination goals.Maintain knowledge of
compliance laws applicable to mortgage and home equity loan
originations including Equal Credit Opportunity Act (ECOA), Real
Estate Settlement Procedures Act (RESPA), Regulation Z (Truth in
Lending, Good Faith Estimate), Regulation C (Home Mortgage
Disclosure Act - HMDA), and other state and federal laws which may
be applicable.Comply with all Laws, regulations, associated with
mortgage lendingConfer with VP, Residential and Consumer Lending to
aid in resolving mortgage application problems.Provide feedback to
management with regard to competitor's pricing, products and other
applicable issues.Attend all required training sessions and
complete all required on-line training courses.Cross sell RCB
products and services Perform all other duties as may be
required.KNOWLEDGE, SKILLS AND EXPERIENCE REQUIRED:Bachelor's
degree preferred.Bilingual required (Spanish and English)Previous
experience as an MLO required. Strongly preferred, at least 2
years' experience.Strong sales and organizational skills
required.Demonstrated ability to make sales calls strongly
preferred.Ability to create own network strongly
preferred.Excellent interpersonal skills required.Demonstrated
ability to function independently. Pro-active.Some knowledge of
Secondary Market guidelines, state agency lending guidelines, HELOC
and second mortgage guidelines and consumer loans.Knowledge of bank
products required.Knowledge of Mortgagebot LOS an
advantage.Demonstrated excellent communication - both written and
verbal skills required.Must be a "team player", flexible and
willing to support other business line partners to provide
excellent customer service.Must be results oriented and able to
prioritize multiple tasks.Demonstrated ability to multitask
required.Must be a person of high integrity who is dependable and
professional at all times.
Keywords: Reading Co-Operative, Lawrence , Mortgage Loan Originator, Other , Lawrence, Massachusetts
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