Mortgage/Consumer Loan Officer

Job Summary

Works with potential borrowers to assess their financial situation, guide them through the loan application process, recommend suitable mortgage or consumer loan products based on their needs, and ultimately facilitate the approval and closing of the loan, ensuring compliance with all regulations while maintaining excellent customer service throughout the process.

Education and Experience

Associate’s degree (or other 2-year degree)
bachelor’s degree

1 year of residential real estate lending

Knowledge

• Strong sales and negotiation skills
• Excellent customer service and communication abilities
• In-depth knowledge of mortgage and consumer loan products, regulations, and underwriting guidelines
• Ability to build rapport and trust with clients
• Lending guidelines: Know the rules and regulations for different types of loans
• Closing costs and interest rates: Understand the costs associated with closing a loan and how interest rates work
• Financial software: Be able to use software to manage applications and track deadlines
• Financial analysis: Be able to evaluate financial information and make recommendations based on that information proficiency with loan origination systems and technology

Skills

Communication skills

• Verbal and written communication Loan officers need to be able to communicate effectively with clients, real estate agents, and other financial institutions.
• Customer service Loan officers need to be able to guide clients through the lending process and help them make informed decisions.

Financial analysis

• Credit analysis: Loan officers need to be able to evaluate a customer's credit score, income, and financial status.
• Debt-to-income and loan-to-value calculations: Loan officers need to be able to calculate these ratios to determine if a customer qualifies for a loan.
• Interest rate structure: Loan officers need to understand how interest rates are structured.

Attention to detail

• Analytical skills: Loan officers need to be able to accurately analyze a customer's financial information.
• Regulatory compliance: Loan officers need to understand and comply with financial regulations.

Other skills Loan processing and underwriting, Proficiency with loan origination and processing software, and Advanced Excel and financial modeling.

Complex Problem-Solving Skills

• Complex Problem Solving- Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

Work Context

A Mortgage Consumer Loan Officer works in an office setting at one of our Great Rivers Bank locations, interacting with clients in person, over the phone, and through email. They may also spend time networking with real estate agents and other referral partners.

Primary Job Duties

• Meet with applicants: Discuss their financial situation, homeownership goals and needs
• Approve loans within specified limits and refer loan applications outside those limits to management for approval.
• Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
• Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
• Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
• Review and update credit and loan files.
• Review loan agreements to ensure that they are complete and accurate according to policy.
• Compute payment schedules.
• Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
• Submit applications to credit analysts for verification and recommendation.
• Handle customer complaints and take appropriate action to resolve them.
• Work with clients to identify their financial goals and to find ways of reaching those goals.
• Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
• Analyze potential loan markets and develop referral networks to locate prospects for loans.
• Identify prospects: Find new business opportunities in the Hannibal market
• Represent the bank: Participate in community events to promote the bank's image
• Work with the Branch Manager and Senior Management on the Branch Growth Plan

Job Type: Full-time

Pay: $50,000.00 - $80,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Flexible spending account
• Health insurance
• Life insurance
• Paid time off
• Vision insurance

Schedule:

• 8 hour shift

Work Location: In person

Salary : $50,000 - $80,000