Mortgage Loan Officer- Red Bank NJ

Overview

This position is a Mortgage Loan Officer role within Personal & Commercial Banking. The role sells and originates residential mortgage loans to sales goals by working with prospective customers and referral sources, guiding applicants through the mortgage process, and managing loan documentation and underwriting coordination.

Responsibilities

• Meet with prospects identified directly and through referrals from realtors, developers, attorneys, and other external and internal referral sources
• Explain mortgage products and services and offer recommendations based on each prospect’s needs
• Guide customers through the mortgage application process
• Explain required information and other aspects of the loan process to customers
• Ensure applications are completed accurately with required information and supporting documentation
• Manage customer expectations regarding processing times and closing dates
• Sell and originate residential mortgage loans in accordance with established policies and procedures and applicable legal and regulatory guidelines
• Generate referrals for mortgage sales opportunities and sales of other products within the organization’s business line
• Develop a plan to achieve sales goals with assistance from sales management
• Enter information into the mortgage loan system so loans appear accurately in the pipeline
• Create supporting files with backup and explanatory documentation for underwriting, regulatory, and other purposes
• Send applications and other required information to the underwriting area
• Underwrite loans using point-of-sale underwriting systems within scope of authority
• Communicate loan decisions directly to customers and explain any additional information needed
• Submit application materials and required information to processing to clear conditions, finalize commitments, and prepare for closing
• Communicate regularly with customers, underwriters, processors, realtors, closing agents, and others to ensure the process proceeds as planned
• Attend closings as needed
• Develop knowledge of current industry practices and trends by learning from experienced sales personnel and attending continuing education training and seminars
• Develop knowledge of policies, procedures, rules, and regulations related to retail mortgage products
• Participate in homebuyers’ seminars, home shows, brokers’ meetings, and other home financing workshops
• Recommend changes to products, programs, and/or pricing
• Ensure successful audits and exams across all relevant areas
• Deal with complex mortgage needs

Requirements

• Bachelors degree or progressive work experience in addition to experience below
• 2+ years of mortgage origination experience
• Proven sales ability
• Developing knowledge of the mortgage industry, products, lending practices, and regulatory guidelines
• Maintains the highest level of sales ability and negotiation skills
• Self-directed with ability to plan own activities to achieve sales goals
• Strong time management skills
• Excellent communication skills (verbal and written)
• PC skills, including ability to learn mortgage origination and automated underwriting systems

Loan Originator / Mortgage Loan Originator Definitions (OCC Language)

• This position falls within the definition of Loan Originator as defined under Regulation Z of the Truth in Lending Act, 12 CFR Part 1026.36, and the definition of Mortgage Loan Originator as defined under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act), 12 U.S.C. §§ 5102 et seq., and its implementing regulations, 12 CFR Part 1007
• Must be eligible for employment with a covered financial institution under the standards established by Regulation Z of the Truth in Lending Act, 12 CFR Part 1026.36
• Must be eligible for registration as a registered mortgage loan originator with the NMLS (Nationwide Mortgage Licensing System and Registry) in accordance with the SAFE Act and its implementing regulations, 12 CFR Part 1007
• Satisfactory results on a criminal background check and a credit report check, and statements/certification from job applicant regarding administrative, civil, and/or criminal findings by any government agency/authority, are required by federal law for this position

Physical Requirements

• Performing sedentary work – Continuous
• Performing multiple tasks – Continuous
• Operating standard office equipment – Continuous
• Sitting – Continuous
• Concentrating for long periods of time – Continuous
• Applying common sense to deal with problems involving standardized situations – Continuous
• Reading, writing and comprehending instructions – Continuous
• Adding, subtracting, multiplying and dividing – Continuous
• Standing – Occasional
• Walking – Occasional
• Lifting/Carrying (under 25 lbs.) – Occasional
• Lifting/Carrying (over 25 lbs.) – Never
• Domestic Travel – Occasional
• International Travel – Never

(Other movement and physical actions listed in the original include: occasional bending, squatting, reaching forward, and responding quickly to sounds; never for kneeling, crawling, climbing, overhead reaching, pushing, pulling, twisting.)

Compensation & Benefits

• Hours: 40
• Pay Details: $15.92 - $15.92 USD
• Compensation range details note the base pay actually offered may vary based on candidate skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs.

The original also states: Pay Range- $11.54 per hour depending on established local minimum wage plus commission.

Benefits information includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards generally through participation in an incentive plan), health and well-being benefits, savings and retirement programs, paid time off (including Vacation PTO, Flex PTO, and Holiday PTO), banking benefits and discounts, career development, and reward and recognition.

Location

Red Bank, New Jersey, United States of America

Equal Opportunity / Accommodation

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, status as a protected veteran, or any other characteristic protected under applicable federal, state, or local law. Applicants with disabilities who need accommodations to complete the application process should request accommodations through the organization’s workplace accommodations program (contact details omitted).