Mortgage Loan Officer

Mortgage Loan Officer

Job Description

The main duty involves guiding clients through the process of identifying and obtaining permanent FHA/VA and conventional mortgage loans, along with other residential mortgage programs, that best meet their financial needs and objectives, and adhering to the federal registration requirements set out in the SAFE Act.

Primary Responsibilities

• Conducts discussions with potential borrowers to compile and evaluate details about their financial status, including earnings, liabilities, assets, and credit reports, as well as their aspirations, requirements, and income to aid in evaluating the risk of approving the loan; acquires and analyzes pertinent financial and credit information.
• Reviews the creditworthiness of applicants autonomously. Empowered to issue a pre-qualification determination of borrowers' eligibility.
• Analyzes which products best suit the customer's needs and financial circumstances and informs potential borrowers about the advantages and drawbacks of different financial products and the most appropriate mortgage loan programs.
• Offers recommendations to clients on additional banking services or alternative lending solutions as required.
• Expands the bank's mortgage portfolio through targeted marketing efforts aimed at Realtors, builders, and developers to promote residential mortgage lending services.
• The job may require traveling to and working at prospective customers' homes or business locations. It also involves following up with potential customers through travel or telephone communication.
• Negotiates loan conditions with borrowers and is empowered to represent the bank in these negotiations.
• Ensures adherence to all origination protocols to comply with bank policies and meet regulatory requirements for lending.
• Offers advice to management on effective compliance strategies and recommends potential modifications to corporate operating policies where appropriate to ensure ongoing regulatory compliance.
• Monitors the dynamic changes and developments within the local real estate industry, as well as the updated rules and regulations concerning both private and federally-insured mortgages.
• Serves as the bank's representative in the community, engaging in activities and functions to identify, develop, and promote new business opportunities. Delivers seminars to diverse groups, such as the general public and real estate agents, to stimulate business growth and enhance community relations.

Scope of Responsibilities:

• The individual currently in the role is experienced in working independently, often away from direct oversight.
• This position involves extensive contact with external parties, as well as internal engagement primarily during sales calls conducted off-site.
• Responsibilities include interacting with individuals and teams both internally and in the assigned community, developing new connections and managing existing ones.
• The duty to establish and enforce federal registration criteria in accordance with the SAFE Act.

Necessary educational and experiential qualifications:

• Individuals equipped with an associate's degree and two years of sales involvement,
• In lieu of a conventional degree, other educational avenues can be pursued
• The position demands a total of 4 years of higher education and/or relevant work experience, with 2 years of proven success in sales.
• Proficient in FHA/VA regulations, conventional loan criteria, and legal aspects of property transactions.

The preferred credentials typically highlight a complementary mix of academic training and professional experience:

• Technical Skills
• Competence in navigating personal computing devices and software programs relevant to the Residential Mortgage Department
• Proven sales ability.
• Strong mathematical skills.
• Self-motivated, well-organized individual.
• Exemplary verbal and written communication proficiencies.
• Skillful at maintaining professionalism when interacting with individuals of varying income levels and coworkers.
• Shown proficiency in independently managing tasks and seeing them through to completion.
• Expertise in completing tasks promptly under critical time restraints.

M&T Bank is committed to fair, competitive, and market-informed pay for our employees. Compensation for this role is based on commission - a draw will be advanced. The successful candidate's particular combination of knowledge, skills, and experience will inform their specific compensation.