Mortgage Bankers
Position Summary
Mortgage Bankers will constantly speak with prospective clients and aggressively try to meet their client’s
needs as well as figure out which loan program the client is qualified for. Mortgage Bankers are provided with
LOS (loan operating system) software to help figure out loan programs, payments, costs and benefits for the
prospective clients. Bank of England has an in house team of assistants, processors and managers to assist with
the loan process.
Mortgage Bankers are also encouraged to find their own business as well. In this ongoing sales role, the
Mortgage Banker will continually search for other means in growing their portfolio. Many of Bank of England’s
Mortgage Bankers have a network of real estate agents, builders and personal contacts that continually refer
business.
The Mortgage Banker position proactively solicits prospective clients provided by Bank of England. Bank of
England provides each and every loan officer numerous leads to call on daily that can earn you a 6 figure income
in a 40 hour work week.
Bank of England assists their Mortgage Bankers to succeed every step of the way.
Qualifications:
- · No Mortgage experience necessary
- · Ability to manage a pipeline of 15 plus loans
- · Strong written and verbal communications skills
- · Strong teamwork and customer service skills
- · Self-motivated and highly organized
- · Ability to prioritize multiple competing task
- · Familiar with FHA and VA guidelines
- · Solid time management skills and the ability to organize, prioritize and perform multiple tasks
simultaneously
- · Ability to communicate clearly and effectively, both verbally and written, across mass audiences
- · Ability to analyze and comprehend complex financial data and provide financial alternatives
- · Professional and effective interpersonal skills
- · Knowledge of credit reports, loan programs and Loan Operating Systems.
Mortgage Loan Processors
Position Summary
Support one or more high producing Loan Officers and serve as a contact point for all parties including Loan Officer, Borrower, Underwriters and Sales Agents. Gather information needed by Underwriting in order to decide on loan applications and forward approved loan files to closers.
- · Validate assets and liabilities listed on the loan application by gathering information from third-party resources (examples include obtaining bank statements to verify deposit balances and matching liabilities listed against credit reports). Validate additional information provided by loan applicant on the application (including Verification of Employment, Verification of Deposits, flood certification, HMDA information, etc.)
- · Gather documentation specifically required by FHA, VA, or USDA Rural Development for prospective customers applying for those loan programs in accordance with policies & procedures, register loans on the origination system.
- · Issue proper disclosures as required by federal regulatory compliance and review rate locks and point objectives for accuracy, ensure overage and underage is approved as well as the waiver of any fees. Set up files & order all necessary exhibits for appraisals and credit reports, check alternative documentation for accuracy and potential problems. Review flood and tax certificates and surveys noting all issues upon receipt, review all documents thoroughly to ensure they meet Bank of England Mortgage guidelines before submission to Underwriting.
- · Provide all required information to underwriters for loan decision – if additional information is needed, contact Loan Officer and/or customer to obtain needed information
- · For refinance loan applications that are approved, request payoff information for all existing mortgage loans/liens
- · Obtain list of conditions from underwriter necessary to close loan and work with customer(s) and Loan Officer to obtain necessary information – submitting it to underwriter
- · Verify that all files receiving “clear to close” approval contain Title Commitment, Proof of Homeowners Insurance, Insured Closing Letter, Wiring Instructions and Tax Report.
- · Generate documents and maintains logs to ensure complete and accurate compliance with RESPA, Regulation Z, Fair Lending, HMDA, Bank Secrecy Act and other regulations regarding the mortgage application/origination process. Understands and complies with mortgage industry regulations, including the Fair Credit Reporting Act, the Real Estate Settlement Procedures Act, the Community Reinvestment Act, Truth-in-Lending laws, etc.
- · Protect Company’s reputation and image, maintain borrower confidentiality, deliver a high level of customer service, and keep mortgage loan information confidential.
- · Work as directed by Management.
Preferred Education & Experience:
- · High School Diploma or GED equivalent required, some college preferred; College degree desired.
- · Intermediate to advanced computer proficiency skills with MS Office, Excel and Mortgage Loan Applications/Software; Encompass 360 desired.
- · A minimum of one (1) year of recent work experience in mortgage loan support or processing is required; 1+ years’ work experience in mortgage loan industry preferred.
- · Excellent customer service skills; written and oral communication skills and ability to demonstrate control, flexibility and maintain quality and high productivity when dealing with customers and changing work demand.
- · Ability to multi-task and operate in a high-volume, fast-paced environment.
- · Knowledge of federal and state regulatory requirements a plus.
- · Must be able to perform essential responsibilities with or without reasonable accommodation.
