Unclassified - Wayne, PA

posted 5 months ago

Full-time - Entry Level
Wayne, PA

About the position

The Mortgage Loan Officer (MLO) plays a crucial role in the home financing process, primarily focusing on communicating with borrowers to secure the details and commitment of loans for new or used Manufactured Housing (MH) homes. This position requires the MLO to assist borrowers throughout the entire home-buying journey, which includes reviewing and analyzing customer financial information, submitting applications, and monitoring the overall status of the customer journey and loan process. The MLO must be detail-oriented and stay informed about current and changing market trends and conditions. Clear communication and negotiation skills are essential for discussing loan terms, rates, down payments, and APR with potential borrowers. In addition to direct interaction with borrowers, the MLO collaborates closely with various stakeholders, including brokers, real estate agents, retail and independent MH dealers, MH communities, and internal teams such as Underwriting, Sales, Loan Processing, Funding, and Enabling Group teams. The MLO is responsible for originating and evaluating mortgage loans in accordance with company guidelines and standards. This includes collecting and analyzing prospective buyers' income, assets, liabilities, background checks, and loan application documents to assess creditworthiness. The MLO assists clients in completing mortgage applications, ensuring that all documents are accurate and thorough. Furthermore, the MLO interacts with customers, realtors, processors, and underwriters to facilitate a smooth transaction process. They are tasked with monitoring loan status, ensuring conformity to terms and regulatory guidelines, and maintaining an active and timely pipeline to exceed production standards. The role may also involve performing other duties as assigned, contributing to the overall efficiency and effectiveness of the mortgage lending process.

Responsibilities

  • Originate and evaluate mortgage loans according to company guidelines and standards.
  • Collect and analyze prospective buyer income, assets, liabilities, background checks, and loan application documents to determine creditworthiness.
  • Assist clients with completion of mortgage applications, inspecting completed documents for accuracy and thoroughness.
  • Interact with customers, realtors, processors, and underwriters to ensure a smooth and seamless transaction.
  • Review the loan process by monitoring loan status, term conformity, and regulatory guidelines.
  • Exceed production standards by maintaining an active and timely pipeline.
  • Perform other duties as assigned.

Requirements

  • Bachelor's degree in business, finance, banking, real estate, or a related field, or one to three years of experience in mortgage origination or residential lending is preferred.
  • Manufactured Housing lending experience preferred.
  • Current NMLS License/Registration and State licensure is required.
  • Knowledge of state/federal regulations and company underwriting policies, procedures, and guidelines is essential.
  • Excellent written and verbal communication skills, superb interpersonal and customer service skills, and exceptional decision-making ability are required.
  • Understanding of loan origination and loan decisioning software such as MortgageFlex (or comparable LOS) is highly preferred.
  • A track record of successfully originating various kinds of mortgage and consumer loans, including refinance, real estate, and chattel is necessary.

Nice-to-haves

  • Experience with loan origination software other than MortgageFlex.
  • Additional certifications in mortgage lending or finance.

Benefits

  • Monthly incentive pay
  • Opportunities for professional development and training.
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