Job Description

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Overview

The primary duties of this position are to proactively solicit residential mortgage borrowers from personal referral sources, while developing and cultivating a strong pipeline. This position is responsible for assisting borrowers research loans and navigate the application, approval and closing process. Duties include recommending loan options to borrowers and explaining their terms, determining risks for loaning to borrowers based on their credit and processing paperwork.

In addition to employment definitions outlined by the Department of Labor, Outside Sales Loan Officers are defined to include employees who are not assigned a temporary or introductory status and who do not fall under regular or scheduled hours of work each week. While this position shall receive all legally mandated benefits (such as Social Security and Workers Compensation insurance), Originator is ineligible for other benefits including a salary or hourly minimum wage draw.

Essential Duties

• Provides friendly residential loan origination services as a trusted alternative to big, impersonal financial institutions, redefining the mortgage experience for customers and team members
• Loan products offered may include conventional, VA, FHA, USDA, ARM, renovation, hobby farm, and rural and agricultural loans
• Minimum production requirement is two (2) units a month
• Engages in marketing and promotional activities in support of Loan Officers personal leads
• Builds and maintains a pipeline of referral sources from which to identify new personal sales leads such as real estate brokers/salespersons, builders, bankers, community leaders, family members, etc.
• Spends at least one or two hours a day, two or more times a week outside of the office (including home office) originating loans, networking or marketing with referral partners, or developing personal relationships with potential borrowers.
• Conducts in-person calls outside of the branch office location (including home office) to real estate agents and brokers, financial advisors, and other potential referral sources to develop borrower leads.
• Meets with borrowers in person to sell mortgage loan products, with meetings occurring with prospective borrowers at locations other than MSFs branch locations, e.g., borrowers homes or other locations.
• Maintains communication with existing and previous customers, alerting them of new products, services, and enhancements that may be of interest, adjunct to in-person contacts
• Engage in marketing and promotional activities in support of loan officers own outside sales efforts
• Any work done at MSFs Branch office is related and supplemental to outside sales activities. Work which may be performed at the Branch location in conjunction with outside sales activities may include:
• Calling prospects with whom the loan officer has been dealing during outside sales activities
• Dictating or writing letters to prospective loan applicants
• Talking to such prospects in the Branch about their particular transactions
• Calling a list of prospective buyers or sellers of homes with whom the loan officer has had no prior contact
• Preparing a contact and other forms required for a sale negotiated during the loan officers outside sales activity
• Talking to a walk-in prospect with whom the loan officer has had no prior contact and showing photographs and discussing terms on specific houses, if such activity results in subsequent outside sales activity with the prospect
• Originator may choose to accept or decline Company Leads
• Analyzes and exercises independent judgment and discretion in advancing MSFs business objectives and the interests of MSFs borrowers regarding significant financial decisions
• Carries out major assignments affecting business operations of MSF or MSF borrowers through:
• Manages loan pipeline, review active loan files regularly to ensure there are no missing loan documents, follow up on outstanding loan conditions.
• Correspond with applicants to resolve questions regarding application information.
• Compile loan packages and facilitate negotiation with applicants according to MSF standards, such as origination fees, loan repayment options, and other credit terms.
• Reviews applications, collects, and prepares materials needed to secure a loan.
• Remains aware of loan application deadlines and informs borrowers about them.
• Completes necessary continuing education in a timely manner and remains current on local developments and trends within the mortgage and real estate industries.
• Compliance with applicable state and federal licensure and mortgage and fair lending laws and regulations

Nothing in this job description restricts MSFs right to assign or reassign duties and responsibilities at any time.

Seniority level

• Entry level

Employment type

• Full-time

Job function

• Finance and Sales

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