Residential Loan Officer I

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Job Type

Full-time

Description

SUMMARY

At Dedham Savings, we believe that being here for the journey means supporting our clients in a friendly and professional manner every day. While our employees are committed to helping our clients, we are committed to our employees. After all, we wouldn’t have made it for nearly 200 years as a local neighborhood bank without them! To support our employees, we offer a competitive benefits package with Medical, Dental, Vision, Flexible Spending, Tuition Reimbursement, Childcare, Retirement, Life Insurance, and many other benefits.

The candidate for this position will be responsible for originating residential mortgage loans and using existing and future referral sources to increase the Bank’s market share of residential loans in its market. Providing the highest level of customer service and being responsive to the financial needs of individuals, families, businesses, and organizations served by the Bank is critical to this position. This role will also work with the AVP/CRA Manager to assist in the Bank’s CRA and Affordable Housing Initiatives. This is an outside originator position focused on developing business in Eastern Massachusetts.

Essential Duties And Responsibilities

• Develop relationships with local realtors, attorneys, builders, and clients, to establish and maintain relationships and referral sources for mortgage loans.
• Provide follow-up and feedback, as appropriate to referral sources.
• Regular use of social media platforms to generate referrals for mortgage loans and Keylines
• Originate residential mortgage loans in accordance with Bank policy, secondary market guidelines, and consumer lending regulations.
• Strive to meet production targets and Low-to-Moderate Income (LMI) and minority lending goals.
• Stay abreast of new CRA & Affordable lending and down payment assistance programs.
• Communicate with realtors at First Time Homebuyer seminars and other events to assist the Bank in identifying new CRA products.
• Participate in outreach efforts to share information about the Bank’s CRA & Affordable Housing programs.
• Assist with lead generation for small business, commercial real estate, and community development loans in the assessment area.
• Interview applicants to obtain and analyze required mortgage application information, including income, assets, investments, debt, credit history, prior bankruptcies, judgments, and liens, as well as characteristics of the property and similar information.
• Identify customer's needs in conjunction with customer's financial situation and evaluate those needs with available financial products.
• Recommend the financial products best suited to the customer's specific needs after advising the customer about the risks and benefits of the loan alternatives, including the options and advantages involved; recommend terms and conditions of mortgage loans.
• Follow the existing loan pipeline to ensure conformity with terms.
• Ensure documentation is completed under regulatory compliance.
• Communicate with the customer on an ongoing basis to ensure they remain informed and aware throughout the process.
• Communicate with attorneys, appraisers, and other vendors to ensure a timely and efficient process, creating exceptional customer experience.
• Collaborate with management to develop and maintain strong, mutually beneficial business relationships.
• After successful registration with the National Mortgage Licensing System (NMLS) and issuance of a valid NMLS ID, maintain active registration status with proper annual renewal, in compliance with the S.A.F.E. Act.
• Maintain extensive knowledge of the Bank’s policies and procedures; maintain strong knowledge of real estate lending practices and related areas.
• Complete all internal Bank training as assigned and required.
• Adhere to the Bank’s privacy and data security policies including but not limited to safeguarding sensitive information and complying with relevant regulations to protect non-public information.
• Exhibit the ability and desire to embrace and enhance the Bank culture.
  
  

Consider this description to be the foundation of your job, not its boundaries. Expect to participate in internal and external training sessions and activities not described here which enhance the quality of service to the client.

Supervisory Responsibilities

None

Requirements

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.

EDUCATION And/or EXPERIENCE

• Associate’s degree or its equivalent through specialized coursework and training.
• Five plus years of residential lending sales experience.
• Candidate must have a proven track record for at least three years of consistent residential loan production.
• Strong sales ability; must have an established referral network.
• Good working knowledge of residential lending and secondary market guidelines.
• Excellent communication and organizational skills.
• Valid driver’s license and dependable transportation for making outside sales calls.
• Knowledge of secondary market mortgage guidelines.
• Excellent communication skills and personality oriented towards sales. Ability to organize time and work independently and cooperate as a team member.
• Knowledge of Encompass loan origination system would be preferred, but not necessary
• Strong working knowledge of Microsoft Word, Excel preferred.
  
  

Skills

• Basic knowledge of the banking and financial services industry including federal laws and regulations
• Willingness to gain new knowledge and technical skills.
• Intermediate typing skills to meet the production needs of the position.
• Intermediate math skills: the ability to calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply, and divide into all units of measure, using whole numbers, common fractions, and decimals; locate routine mathematical errors; compute rate, ratio, and percent, including the drafting and interpretation of bar graphs.
• Exceptional verbal, written, and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, train personnel, read, analyze, and interpret documents and professional journals, understand procedures, write reports, correspondence, and procedures, speak clearly to customers and employees.
  
  

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 and talk or hear. The employee is occasionally required to stand, walk; use sufficient hand, arm and finger dexterity or feel objects, tools, or controls. 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.

KEY POINTS

Dedham Savings is committed to providing equal opportunity for all employees and applicants without regard to race, color, religion, gender, sexual orientation, age, marital status, national origin, physical or mental disability, veteran or disability status, gender identity, or expression, citizenship, genetic information, ancestral origin, military status, pregnancy, childbirth, and or conditions relating to pregnancy or any other related medical conditions or any other status protected by Federal, State or local laws.

Here at Dedham Savings, we strive to foster a culture where every voice is valued and where employees have a sense of belonging and connection with each other. We are dedicated to creating a work environment that understands, supports, and welcomes diverse perspectives and backgrounds. Together, we will create an inclusive and culturally competent and supportive environment where employees model behavior that enriches both Dedham Savings and the communities we support.

EOE/F/M/Vet/Disabled

Salary Description

Base Commission