Scope/Purpose of the Position
The Mortgage Loan Originator (MLO) will be responsible for soliciting new business and originating mortgage loan products offered by Homebridge. The MLO shall continuously identify, develop and maintain a network of business relationships to establish a constant referral source to originate new loans for Homebridge.
Key Responsibilities and Essential Functions
- Spend more than 50% of their time performing outside sales activities (away from Homebridge offices) which include, but are not limited to: attending open houses, meeting and calling clients, referral sources, realtors, and business prospects at their homes, places of employment or in other social settings away from any Homebridge office, etc.;
- Build a network of referral sources such as Real Estate professionals, Builders, professional and personal contacts, as well as participate in business related development opportunities and community efforts to promote Homebridge and our products and services;
- Maintain regular contact with the customer, referral partners and Homebridge employees between application and closing to apprise them of the status of the application and gather any additional information as needed;
- Market and promote Homebridge products
- Mortgage Loan Advisement
- Assist in assessing the customer's financial circumstances to determine whether the customer and the property qualify for a particular loan;
- Analyze the information provided by the customer and advise on an array of options and variables, all of which make up the various components of the loan;
- Advise the customer about the risks and benefits of various mortgage loan alternatives in light of their individual financial circumstances;
- Advise the customer about avenues to obtain a more advantageous loan program, including assisting the customer in understanding credit problems;
- Perform such other duties related to the origination of mortgage loans as Employer may assign.
Key Performance Indicators
- Meet the Initial Production Targets:
- Days 0-30: You must submit at least one (1) application (sent to processing "STP") within the first thirty days after obtaining your license (or if you are licensed when hired, then within thirty days after your start date);
- Days 31-60: You must submit an additional two (2) applications ("STP") during the next thirty (30) days of your employment (3 total by day 60);
- Days 61-90: You must submit a minimum of six (6) applications ("STP") and at least one (1) loan must be funded by day ninety (90) ("6 plus 1" total); and
- Meet the Minimum Production Standards after the Initial Period of Employment:
- Four (4) units or $1,000,000 funded in the prior three months or eight (8) units or $2,000,000 funded in the prior six months.
Work Experience and Knowledge, Skills and Abilities
- Knowledge of the mortgage process, underwriting, and closing guidelines.
- Understanding of Federal Regulations governing Real Estate Lending as well as the company's Fair Lending policies.
- Excellent knowledge of FNMA, FHLMC, FHA, USDA and VA product guidelines.
- Excellent analytic skills, attention to detail, and ability to work within time constraints.
- Excellent level of oral and written communication skills; Ability to communicate across a variety of audiences.
- Intermediate level of computer skills and the ability to function in a windows environment utilizing Outlook, Word and Excel.
- Professional and effective interpersonal skills; Solid decision-making skills with display of professionalism in maintaining confidentiality. Ability to build strong relationships with internal business partners to achieve success.
- Ability to rapidly acquire detailed knowledge of departmental policies, practices and procedures.
- Strong time management skills, fast learner, self-motivated, and comfortable taking initiative and handling multiple projects simultaneously.
- Committed to taking responsibility and ownership for agreed actions and delivery.
- Reports to work on a daily and timely basis.
- High school diploma or equivalent
- Minimum of one-year experience working in a mortgage loan originator capacity at a mortgage company, bank or other financial institution. Prior experience in generating refinance loans, purchase loans, as well as a comprehensive understanding of related guidelines.
- Required at all times to possess a valid motor vehicle driver's license and shall provide evidence thereof at time of employment and thereafter at any time requested by Homebridge. Required to possess valid motor vehicle insurance as required by the state in which the motor vehicle is licensed. Required to provide evidence thereof at time of employment and thereafter at any time requested by Homebridge. If your driver's license or insurance is revoked, suspended or discontinued you must notify Human Resources immediately of the revocation, suspension or discontinuance action.
- NMLS License.
- Must at all times be able to meet any and all applicable qualifications and standards required for MLO licensing under the SAFE Act. Employee must remain current on any and all applicable registration, licensing and training obligations required under the SAFE Act and/or any other state, federal or local laws pertaining to MLO certification or standards.