Mortgage Loan Originator

Company: Reading Co-Operative
Location: Lawrence
Posted on: May 21, 2023

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