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Loan Officer
Career Insights for Mortgage Loan Officer
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Scorecard
Based on Washington 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.
$59,865 / year median in Washington
-24% projected decline
Job Description
- Provide excellent customer service
- Manage client relationships and identify client service and sales needs
- Respond to customer inquiries and referrals that are generated from your contacts
- Conduct interviews with prospective borrowers in order to analyze financial and credit data
- Marketing, promoting, and selling Company's loan products
- Negotiate rates and terms
- Define and manage customer loan process expectations
- Monitor and manage workflow to ensure timely closing
- Maintain product knowledge and stay up to date on changes to market conditions
- Comply with all applicable laws and regulations released to residential mortgage lending What you'll need to be successful: Success in this job relies on your time management skills, organization, and positive attitude. In addition, you'll need the following qualifications:
- Minimum 2 years of experience in the mortgage industry with a clear understanding of residential mortgage loan process from application through fulfillment -or- Bachelor's degree or equivalent preferred
- Must be appropriately licensed (or be able to gain license within 60 days of start date) by the applicable regulator in each state in which he/she does licensee activities
- Excellent communication skills required
- Strong organizational, problem-solving, and analytical skills required What we offer: Because we recognize and reward hard work, we offer a competitive salary, full benefits package, and a potential for a performance-based bonus dependent upon position/department.