Mortgage Banker

Morgan Stanley is a global financial services firm that conducts its business through three principal business segments — Institutional Securities, Wealth Management, and Asset Management. Wealth Management provides comprehensive financial advice and services to its clients, including brokerage, investment advisory, financial and wealth planning, credit & lending, deposits & cash management, annuities, insurance, retirement, and trust services.

Morgan Stanley Private Bank, National Association ("MSPBNA") offers banking and credit products and services, including securities-based lending, mortgage loans, and home equity lines of credit, primarily to Morgan Stanley Wealth Management's high net worth clients. The Home Loans business is a key element of the Global Wealth Management strategy, and Morgan Stanley continues to make considerable investments in this business in terms of technology, processes, and personnel.

MSPBNA is seeking to hire candidates for the position of Mortgage Banker for the Morgan Stanley Home Loans team. A Mortgage Banker (MB) is responsible for using in-depth industry knowledge and experience to support Financial Advisors and their clients throughout the mortgage origination process by serving as the single point of contact, delivering desired mortgage solutions and ensuring a seamless client experience from application to closing.

The ideal candidate will be a subject matter expert in jumbo mortgages, complex income, entity structure, asset analysis and have a high degree of comfort engaging with affluent clients and their advisors.

An individual that exhibits high energy, takes ownership, and demonstrates a collaborative proactive approach is critical for this role.  

Position can be based on either (a) Dallas, TX or (c) Tempe, AZ office or (d) Purchase, NY office (e) or Remote dependent on Market Coverage.

Job Description/Position Responsibilities:

• Serve as the primary point of contact for client interactions, including Financial Advisors, their clients, and Private Bankers using a variety of communication types, including verbal (preferred) and written, in order to:

• Provide consultation and advise Morgan Stanley partners on the credit risk of high-net-worth clients (i.e., high loan amounts and complex income, asset, and vesting scenarios) and the appropriate/available products and pricing to meet the clients’ needs. Analyze client finances to provide tailored advice to the client on various loan products and other financial solutions to meet the client’s specific needs.

• Manage Client/FA/PB expectations and communication.

• Lead the coordination of timely closings across internal and external business partners and resolve issues throughout the loan process.

• Obtain, analyze, and validate all loan documents such as complex income, asset, credit, appraisal, insurance, and title documents to satisfy conditions for underwriting approval and product/pricing negotiations as necessary.

• Decision Conditional Pre-Approval Letters, within policy framework, while accurately identifying the appropriate lending guidelines and conditions for loan approval.

• Serve as the primary escalation point for loans in process; provide alternative solutions and discernment to escalate further when necessary; demonstrate the ability to de-escalate situations as appropriate.

• Manage inbound /outbound queue, multiple call campaigns, and various bank initiatives, along with intense client follow-up.

• Effectively manage a complex pipeline that includes Ultra High Net Worth and Private Wealth Management mortgage transactions.

• Assist in the oversight of individuals or team of Associate Mortgage Bankers, assessing performance, sharing observation on performance to the Mortgage Banker Manager.

• Provide training and guidance to Associate Mortgage Bankers, partners and peers as appropriate.

• Ensure compliance with banking regulations and company policies.

Qualifications:

• Requires 10+ years of Wealth Management/Private Bank mortgage lending experience.

• High school diploma or equivalent required.

• Eligible for employment with an FDIC-insured institution and able to register with the Nationwide Mortgage Licensing System & Registry (“NMLS”) as a mortgage loan originator. 

Skills/Abilities:

• Established track record of developing and maintaining Client relationships.

• Ability to meet individual and organizational loan production goals while maintaining a large client base.

• Extensive knowledge of mortgage products and client service experience 

• In depth knowledge of the compliance regulations and laws that govern consumer mortgage lending, including fair lending, privacy, RESPA, and TRID.

• Strong communication skills, both written and verbal, and interpersonal skills required.

• Self-starter with a strong sense of ownership; ability to manage time, prioritize and plan accordingly. 

• Proficient in the use of a variety of systems for accurate reporting and tracking; including MS Office (Word, EXCEL, Outlook, PowerPoint).

• Achieve high levels of Client and Financial Advisor satisfaction.

• Proactively manage loan escalations as needed to ensure a timely resolution while providing enhanced client experience.

“To qualify, applicants must be legally authorized to work in the United States and must not require, now or in the future, sponsorship for employment visa status.”

WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 years.  Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.

To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices​ into your browser.

AVP - New York

Expected base pay rates for the role will be between $85,000 and $140,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Vice President - New York

Expected base pay rates for the role will be between $110,000 and $190,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background.  Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.

Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.

For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo.