What are the responsibilities and job description for the Mortgage Loan Originator (MLO) position at Security Federal Savings Bank?
Description
The MLO originates first mortgage and/or second lien equity loans, promotes financial institution and its lending services to the real estate community.
Specific Job Functions:
- Follows the work flow process and procedures for Mortgage Lender Officer/Originations.
- Strategic Objectives
- Originates first mortgage and/or second lien equity loans to meet annual loan projections.
- Documents calls in Synapsys and makes monthly call report to supervisor.
- Maintain knowledge of bank’s products to increase overall customer relationships and meet bank objectives.
- Work with lending team to improve overall customer experiences.
- Maintain knowledge of investor loan programs and requirements.
- Participates in activities for generating new business such as sales calls and special events.
- Assists in the development of branch goals and budgets.
- Reports at internal Branch meeting monthly.
- Greet customers by name, use the name in conversation.
- Responsible for knowing and cross-selling bank products to help the customers obtain their financial goals.
- Product and Service assistance – If we don’t provide a product or service the customer is looking for, we will find another financial institution that does.
- Respond to customer inquiries within 24 hours, within one hour, if it is an emergency.
- Realize a deposit conversation rate of 100% per loan relationship (at least one checking or savings product open for every loan relationship maintained).
- Participates on SFSB’s assigned committees.
- Supports the collecting of delinquent mortgage and consumer loans.
- Attends all required retail lending training and meetings.
- Compliance
- Completes loan applications and all pre-processing functions in a timely manner to meet regulatory disclosure requirements.
- Qualifies loan applicants based on bank’s lending policies and on types of loans offered.
- Ensures that residential loan files contain verified and accurate data to submit for loan approval according to established procedures to meet regulatory and loan policy requirements.
- Responsible for knowing and complying with all Federal Regulations and bank policies/procedures that apply to the position, including the BSA/AML/OFAC and CIP Program.
- Community Reinvestment:
- Represent and promote Security Federal at community functions to establish and develop relationships with realtors, builders, and other entities to build a referral network.
- Actively participate in Security Federal’s special credit programs and other CRA programs.
- Arrange and/or participate in external educational opportunities to meet the financial concerns of the community.
- Additional Responsibilities
- Answer phone as needed
- Performs other duties as directed by supervisor
Requirements
Job Requirements:
- High school diploma or equivalent
- Bachelor degree in business or finance preferred but not required
- Minimum two years’ experience in banking, mortgage lending, or the financial industry
- Successful completion of in-house training programs
- Must maintain Nationwide Mortgage Licensing System and Registry (NMLS) credentials
- Secondary market and government program knowledge recommended
- Comprehensive knowledge of new accounts operations
- Comprehensive knowledge of consumer lending
- Basic math and problem-solving skills
- Good understanding of financial products and services
- Exceptional customer service and professional skills
- Strong organizational telephone skills, and communication skills
- Ability to multi-task work independently, delegate, and make decisions
- Average computer and keyboard skills
- Team Player
- Valid driver’s License
