Mortgage Loan Officer

Job Description Job Description

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.