Bilingual Loan Specialist

Overview

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Position

Job title : Bilingual Loan Originator (LO)

Job status : Full Time / Salary

Department : Credit

Reports to : Credit Manager

Travel required : As Needed

Work schedule : Hybrid - 4 days in-office, 1 day remote after training

Pay : The expected base pay range for this position is from $50,000 plus additional bonus opportunity resulting in an expected total annual compensation of $83,000 to $90,000. The stated hiring range is based on experience, qualifications, and other relevant factors. Final compensation decisions will take into account a variety of considerations, including individual skills, internal equity, and organizational needs.

Job Summary

The Loan Originator guides customers through the loan process from start to finish, as well as deciding if the loan is approved. This role reports to the Loan Originations Supervisor and guides clients through the application process, provides information about available loan products, verifies eligibility for loans, and helps clients understand their options. The Loan Originator position evaluates loan applications, verifies applicant information, and ensures compliance with lending regulations and internal policies. This role creates and fosters relationships to build trust and rapport while providing an excellent customer experience.

Job Functions

• Application Evaluation, Processing, and Underwriting
• Facilitates the lending process by assisting new and returning clients with loan applications, obtaining personal and financial information, describing types of loans, ensuring all documentation is complete and accurate, and coordinating with various stakeholders to expedite loan approvals.
• Helps determine appropriate loan products for individual home buyers; obtains leads through Retail Home Centers.
• Presents or communicates credit terms for the purpose of negotiating prospective credit approvals required as part of the loan process.
• Ensures timely and efficient processing of credit applications and communication to individual Home Centers.
• Evaluates applicant financial information, including income, assets, liabilities, and credit history, to determine loan eligibility and risk level.
• Decisions mortgage loan applications based on borrower qualifications, creditworthiness, and adherence to lending guidelines and communicate decision with applicant; approves loans up to $175k for home only or $275k for land and home.
• Ensures compliance with lending regulations, internal policies, regulatory standards, and industry best practices throughout the loan origination process.
• Maintains organized records of loan applications, correspondence, and related documentation.
• Identifies and mitigates potential risks associated with loan applications, such as fraud, misrepresentation, or inadequate collateral.
• Communication, Collaboration & Relationship Management
• Communicates effectively with clients, loan officers, underwriters, and other stakeholders to coordinate loan processing and resolve any issues or discrepancies.
• Identifies opportunities for process improvement and efficiency enhancement in loan processing and customer service delivery.
• Communicates underwriting decisions and requirements effectively with loan officers, processors, and other stakeholders. Provide explanations and guidance to resolve any issues or discrepancies.
• Employs negotiation techniques and conflict resolution strategies to navigate challenging situations and achieve mutually beneficial outcomes for all parties involved.
• Builds and maintains positive relationships by exhibiting consistent reliability, transparency and integrity with clients, referral partners, and other stakeholders to foster repeat business, referrals, generate leads, and cultivate new business opportunities.
• Addresses issues and resolves conflicts in a timely and diplomatic manner, maintaining positive relationships and promoting client satisfaction any time issues arise during the loan application process.
• Other duties as assigned

This job description is not an exhaustive list of all the functions that a team member and other duties may be assigned.

Qualifications

Physical Demands

Benefits

Vanderbilt Mortgage and Finance, Inc. is an equal opportunity employer and does not discriminate on the basis of race, national origin, gender, gender identity, sexual orientation, protected veteran status, disability, age, or other legally protected status.

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