What are the responsibilities and job description for the Mortgage Loan Originator-Community Lender - New Orleans Market position at Red River Bank?
Summary:
The Mortgage Loan Originator-Community Lender specializes in, but is not limited to, originating mortgage loans to first time, low to moderate income, as well as, minority homebuyers. The primary mission of the community lender is to serve as a champion to show these prospects how they can affordably achieve the dream of home ownership. In order to establish a reputation in support of this mission the community lender must be an active and frequent participant in various community outreach projects. This includes attending functions and building relationships with local agencies, churches and non-profits that serve this audience through volunteer service.
More broadly, the Mortgage Loan Originator is responsible for building a client base for generating residential mortgage loans from individual borrowers and referral sources such as Realtors, builders, developers, CPAs, bankers, friends, etc. As a mortgage sales professional, the originator must develop lasting relationships by building on a reputation for integrity, reliability and trust. Successful originators are generally active in the community and particularly active in the real estate community.
Essential Duties and Responsibilities
- Conduct extensive community outreach to promote bank mortgage products and other services.
- Represent bank at community and civic functions as a visible and active member of the community, working with civic and community groups.
- Establish relationships with local government agencies and non-profit organizations that support affordable housing, volunteering, serving on boards of non-profit organizations.
- Work flexible hours including occasional weekend seminar and Realtor open houses.
- Identify down payment and closing cost assistance programs for low and moderate income home buyers. Attend conferences, seminars and other financial trainings that provide information on mortgage loans and/or any low income programs available.
- Create a positive experience for clients obtaining mortgage loans, by obtaining all necessary support documents along with appropriate fee and lock-in information in compliance with requirements at the time of application.
- Counsel and prequalify potential homebuyers.
- Serve as the primary but not sole contact in the origination of the loan and introduce the customer to the processor and explain the processor’s role as key facilitator in assembling the required loan documentation package.
- Monitor loan process by following loan status in the system and ensuring conformity with terms.
- Assist in collecting additional documents prior to closing and communicating loan status to all parties, when requested, on escalation by the processor.
- Provide functional guidance as needed to loan processors regarding coordination of workflow and files in process.
- Maintain comprehensive current knowledge on mortgage products, underwriting guidelines and industry regulations.
- Operate within all delegated authorities for lending limits, fee reductions, and loan pricing.
- Collect all fees as per bank policy, keeping exceptions to a minimum.
- Routinely look for cross-sell opportunities and refer mortgage customers to the retail and commercial departments.
- Maintain a high level of diplomacy, discretion and confidentiality.
- Demonstrate support of Red River Bank vision and mission by involvement in community organizations.
- Establish and maintain an effective working relationship with other staff, clients, potential clients and the general public.
- Responsible to adhere to all bank policies and procedures and to comply with all applicable laws and regulations as they pertain to this position.
- Attend and complete all required training.
- Other duties and responsibilities as assigned by Private Banking Manager.
The generalized list above may be supplemented by a detailed task list that is attached to this job description.
Competencies
To perform the job successfully, an individual should demonstrate the following competencies: gather, analyze and research information skillfully; respond promptly to customer needs; display willingness to make decisions; maintain confidentiality, exhibits sound and accurate judgment; demonstrates attention to detail; make timely decisions; and use time efficiently.
Qualifications
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Required skills include: strong sales aptitude; strong written and verbal communication skills; effective teamwork and customer service skills; and be self-motivated and highly organized.
Education and/or Experience
High School Diploma or general education degree (GED); and a minimum of six months of mortgage experience. Prefer two to three years of experience in a loan production environment, high volume conventional and government mortgage experience and knowledgeable of conventional and/or government guidelines and regulations.
Tools & Technology
To perform this job successfully, an individual must be proficient in Microsoft applications and be able to learn loan/bank specific software. Prefer one or more years of experience.
Physical Demands
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this Job, the employee is regularly required to sit; use hands to finger, handle, or feel and talk or hear. The employee is occasionally required to stand; walk and reach with hands and arms. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision.
Work Environment
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.
