Mortgage Loan Consultant

First State Bank – Job Description

Job Title: Mortgage Loan Consultant Status Exempt

Department: Residential Lending

Reports To: Residential Lending

Primary Purpose of the JOB:

This is a commission-based position to solicit, service, and arrange for a wide variety of mortgage, real estate, and construction loans. The principal responsibility of the commissioned lender is to meet with the customer to determine the best product and terms that will ensure success in the mortgage approval process. Decisions regarding documentation required for approval, fees and terms must be clearly communicated and the customer must leave the application process with proper disclosures and a thorough understanding of the steps that will ensue toward that end. S/he will communicate an outgoing and friendly professional demeanor not only to customers but to staff as well.

Essential DUTIES:

• Originates services and arranges for a wide variety of mortgage, real-estate and construction loans
• Develops new business through contacts with realtors, builders, and branch referrals.
• Customarily and regularly engages in obtaining business outside of the office
• Participates in related business development community activities in the assigned market
• System development, which includes the day-to-day knowledge and application of mortgage software including all applicable regulatory documents
• Maintain knowledge of the various loan products and of processing the loan
• Maintain knowledge of policies and regulations in the mortgage lending field
• Comply with SAFE Act requirements
• Create and maintain a courteous and professional relationship with co-workers while maintaining timely and prompt daily attendance

Other DUTIES:

• Other duties as assigned

Required Experience/SKILLS:

• Two years job related experience
• Valid National Mortgage Licensing number
• Customer service experience
• Must have a valid Michigan Driver’s License with a good driving record
• Strong oral and written communication skills
• Ability to handle various tasks simultaneously
• Negotiating, networking and supervisory skills
• Ability to work independently

Required EDUCATION:

• High School Diploma or GED

Required CERTIFICATION:

• Mortgage Loan Consultants coming to First State Bank from a previous position with an independent broker office must be fully registered and approved with the office of financial and insurance regulation with the State of Michigan. New lenders must be able to obtain a registration through fingerprinting and criminal background check in accordance with the office of financial and insurance regulation with the State of Michigan.

Working CONDITIONS:

• Office environment with little exposure to physical hazards or conditions
• Occasional same day travel between branches using personal vehicle.
• Ability to attend various bank functions, after hours
• Ability to enter data into a computer and work with computer programs: Microsoft Word and Excel
• Ability to stand and/or sit for long periods of time
• Ability to reach with hands and fingers, touching computer buttons/adding machine buttons for extended periods of time

Employees are expected to comply with all laws, regulations, bank policies and procedures, including specifically First State Bank’s Bank Secrecy Act and Anti-Money Laundering Policy and procedures, and its Customer Identification Program. Failure to comply with either the letter and/or spirit of these laws may result in disciplinary action, up to an including termination.

This job description does not list all the duties of the job. Supervisors or managers may ask you to perform other instructions and duties. You will be evaluated in part based on your performance of the tasks listed in this job description.

Management has the right to revise this job description at any time. The job description is not a contract for employment, and either you or the employer may terminate employment at any time, for any reason.

• Learn how to originate mortgage loans
• Learn various borrowing programs and processes and stay current with changes and new products
• Reverse mortgage lender in the US
• Compete mortgage loans by monitoring collection, verification, and preparation of mortgage loan documentation
• Protect bank's image by keeping mortgage loan information
• Meet mortgage loan financial standards by providing annual budget information
• Approve mortgage loans by examining application and supporting documentation
• Adhere to all mortgage related laws
• Structuring the loan application and loan terms
• Building successful national mortgage operations
• Divide / time between a retail branch office and a mortgage loan call center to promote and sell residential mortgage loan products
• Originate reverse mortgage loans through contacts and provide superior customer service
• Work with members on real estate lending needs, mortgage, and opportunities in loans and deposits
• Increasing the company's mortgage loan portfolio by developing strategic business partners, attracting mortgage customers and submitting complete loan files while upholding company standards and ethics
• Develop strategic business partners to create a strong referral network
• Attract new mortgage loan applications by developing relationships within the community, specifically with the real estate community
• Approve loans within established lending guidelines
• Participate in all steps related to the origination of a mortgage loan including but not limited tocounseling borrowers,, meeting with prospects, taking mortgage applications
• Educate the Member on alternative mortgage products or solutions
• Discuss mortgage requirements and obtain credit history and income information