Mortgage Loan Officer - Level 2

Bank of England / Bank of England Mortgage

NMLS Registered Mortgage Loan Officer - Level 2

Non-Exempt

Job Description

Typical business work hours are 8 : 00 A.M. to 5 : 00 P.M. Monday through Friday, some over-time may be required. This is considered a starting position for the sales force, you will be expected to have willingness to work closely with others, be a part of a team whose primary focus is to promote company growth and service the customer as you will be their main point of contact. At times, a Loan Officer can structure their time to work around their client base time zone or peak hours for sales calls. Loan Officers are expected to self-manage their time. This is a non-exempt position.

Purpose :

Loan Officers serve as a main contact point for Borrower and Retail Operations with the loan origination process. It is expected of them to take the initiative to generate their own client base and / or work leads provided by Bank of England Mortgage. Stay abreast of new types of loans and other financial products in order to better meet the customers' needs. The Loan Officer must meet or exceed the set weekly and / or monthly production goals management has established. Communicate with their

Manager / Supervisor on a daily or weekly basis regarding personal production. Meet strict deadlines and maintain compliance. Resolve issues / difficulties across multiple departments while maintaining a high level of customer service to internal and external customers while meeting their expectations.

Essential Functions / Duties :

• Meet with applicants to obtain information for loan applications and answer applicant's questions regarding the loan process. Input loan application information into Encompass System.
• Obtain and compile copies of loan applicants' credit histories, corporate financial statements and other financial information. Prepares mortgage loan file by reviewing loan application, clarifying or obtaining additional information as necessary.
• Submit applications to credit analysts for verification and recommendation. Initiate preliminary research needed on the loan to help determine mortgage eligibility. Analyze applicants' financial status, credit and property evaluations to determine feasibility of granting loans.
• Facilitates mortgage loan applications process by interfacing with Borrower in supplementing additional needed data for completed applications.
• Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
• Confer with Underwriters to aid in resolving mortgage application problems.
• Work closely with processors, closers and underwriters. Assists in coordinating closing appointments in conjunction with the closing staff.
• Maintains and ensures complete and accurate compliance with RESPA, Regulation Z, Fair Lending, HMDA, Bank Secrecy Act and other regulations regarding the mortgage application process.
• Review Loans to ensure that they are complete and accurate according to policy. Compute payment schedules. Approve loans within specified limits and refer loan

applicants outside those limits to management for approval. Review and update credit and loan files.

Reinvestment Act, Truth-in-Lending laws, etc.

confidential.

confidence in yourself and enthusiasm regarding your service. Organizational skills in having the ability to prioritize and manage numerous tasks at the same time. Miscellaneous duties as assigned.

Position Requirements :

when dealing with customers and changing work demand.