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Mortgage Loan Officer
Career Insights for Mortgage Loan Officer
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Scorecard
Based on South Carolina data
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What they do
A Mortgage Loan Officer assists customers who apply for loans, and solicits loan applications on behalf of a bank, mortgage broker or credit union. Provides information on types of loans available, gathers financial and credit information needed to evaluate loan applications; guides the application and approval process. May partner with real estate agents to offer financing information to potential home buyers. May sell mortgage loans on commission.
$66,249 / year median in South Carolina
-24% projected decline
Job Description
- Meet with prospective borrowers to evaluate financial background, homeownership goals, and mortgage needs.
- Educate customers on mortgage products, interest rates, lending rules, regulations, and the application process.
- Collect, review, and verify required financial documentation to ensure mortgage applications are complete and accurate.
- Collaborate with loan processors, underwriters, and internal teams to meet loan processing deadlines and resolve delays.
- Maintain consistent communication with applicants throughout the mortgage process, including updates, questions, approvals, and denials.
- Open new loans and conduct transactions in accordance with credit policy, BSA, CIP, and OFAC requirements. Compensation and Benefits
Salary Range:
$40,000 to $50,000 per year + compensationJob Type:
Direct Hire. Required Qualifications and Skills- Guide qualified borrowers through the mortgage application and loan origination process.
- Recommend mortgage solutions based on customer financial profiles, goals, and lending requirements.
- Coordinate loan documentation, processing timelines, and issue resolution with internal lending teams.
- Maintain compliance with credit policy, BSA, CIP, and OFAC procedures.
- 2 or 4 year college degree required.
- At least 2 years of work experience in the mortgage lending industry required.
- Strong knowledge of mortgage lending processes, loan documentation, interest rates, and regulatory requirements.
- Ability to build customer trust, develop referral relationships, and deliver a positive borrower experience.
- Strong communication, organization, follow-up, and problem-solving skills.
- Ability to complete assigned BSA and OFAC training by required deadlines.
- Commitment to promptly reporting known or suspected policy or legal violations to the appropriate bank officer. Preferred Qualifications
- 3 to 5 years of mortgage loan officer, loan originator, or mortgage lending experience.
- Experience working collaboratively with loan processors and underwriters.
- Established referral network or strong relationship-building ability in the local real estate, banking, or mortgage market.