The Mortgage Loan Officer will initiate the mortgage process for potential clients, preparing, analyzing, and verifying mortgage loan applications for the purchase or refinance of real estate.
Supervisory Responsibilities:
- May assist with training new mortgage officers.
Duties/Responsibilities:
- Meets with and interviews potential and current clients to understand their lending needs including first-time mortgages and refinance of existing loans.
- Explains the differences between and approval requirements of various types of mortgages; prepares and presents a lending package based on client specifications.
- Assists clients with completion of mortgage applications, inspecting completed documents for accuracy and thoroughness.
- Reviews loan applications, gathers credit histories and reports, and assesses applicants capacity to repay and default risk.
- Based on predetermined requirements, assesses, and grants or rejects mortgage applications.
- Views or visits property for real estate purchase or refinance.
- Maintains knowledge of trends and developments in the local real estate market; current and predicted lending rates; and changes in rules, regulations, and best practices of various mortgages.
- Develops and maintains contacts with local realtors, developers, and builders to promote and encourage the use of bank services for residential mortgages.
- Performs other duties as assigned.
