Loan Originator

SUMMARY: 

Looking to kickstart your career in mortgage lending? This Loan Originator role is perfect for someone eager to learn the industry while working closely with an experienced Branch Manager. You'll gain hands-on experience in mortgage sales, client interactions, and loan processes, all while receiving mentorship and support.

Your role will involve engaging with potential clients and real estate professionals through in-person meetings, networking events, open houses, and outreach efforts. You'll assist in generating new business, gathering loan applications, and collaborating with processors to ensure smooth and compliant transactions. As part of a dedicated mortgage team, you’ll have access to resources that allow you to focus on relationship-building and sales.

This is an excellent opportunity for a motivated individual to develop industry expertise, grow a client base, and establish a strong foundation in mortgage lending.

The Loan Originator is exempt from minimum wage requirements under the outside salesperson exemption. The Loan Originator is paid based on commissions and draws (“advances”) against anticipated future commissions, as set forth in the Loan Originator Employment Agreement. The Loan Originator Employment Agreement governs the relationship between the Loan Originator and WMC, and to the extent it is inconsistent with this Job Description, the Employment Agreement controls. 

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Is primarily engaged in Outside Sales, including but not limited to:

• Attending in-person meetings and corresponding with potential clients or real estate brokers;
• Attending or hosting networking, community and/or home buyer events;
• Attending open houses;
• Otherwise traveling throughout the community to generate leads, and build and maintain his or her sales pipeline.
• Distributes mailings, makes calls or web-based solicitations away from WMC’s Place of Business.
• Identifies and analyzes potential loan markets to develop prospects for loan originations; follows up with prospects, including scheduling meetings away from WMC’s Place of Business.
• Interviews applicants and requests information for applications incidental to originating loans. With the assistance of processors or other staff, completes applications in a timely manner and inputs applicant data into Encompass.
• With the assistance of processors or other staff, orders credit reports and AUS findings on secondary market loans through the loan origination system (automated underwriting systems).
• Analyzes applicant’s financial status; including financial statements, tax returns, credit, and property evaluations (P L Statements) incidental to originating loans, to determine feasibility of granting credit.
• Corresponds with and interviews applicants or creditors throughout loan origination process to resolve questions regarding application information.
• Compiles loan packages and facilitates negotiations with applicants to establish standards on items such as fees, loan repayment options and other credit terms.
• Abides by Corporate Policy and/or Federal Regulation guidelines when discussing products, time frames, and sensitive customer or bank information.
• Represents WMC at related functions away from WMC’s Place of Business. This includes presenting product, policy, and procedure information. 
• Obtains, verifies and completes required information and documentation necessary for compliance and processing of loan applications.
• Follows up with requests presented by both customers of WMC and internal departments in a timely manner, including assisting customers with inquiries and information requests and resolving complaints relating to loan products and services offered.

The Loan Originator is expected to enlist the assistance of Processors and/or other staff to complete certain tasks, to allow the Loan Originator to be primarily engaged in Outside Sales activities.

ADDITIONAL DUTIES: 

• Complete any additional duties assigned by management
• Complete regulatory and compliance training, as required
• Assist WMC employee and departments as needed
• Light travel may be necessary
• Maintain positive attitude

ATTRIBUTES OF SUCCESSFUL LOAN ORIGINATORS:

• Outgoing
• Flexible
• Punctual
• Self-driven
• Motivated
• Goal oriented

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 ability required.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. An individual must be able to work before and after normal business hours, and have accommodations for local travel. Driving record must be in accordance with WMC’s Vehicle Safety Policy.  Additional requirements include registration with Nationwide/National Mortgage Licensing System & Registry (NMLS) prior to originating loans.

EDUCATION and/or EXPERIENCE: A high school diploma or general education degree (GED) is required.