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JOB FUNCTION / SUMMARY:
The Community Loan Originator evaluates current loans and new loan proposals considered under a variety of community development programs; Specializes in loan programs designed for First time Home buyers and low to moderate income borrowers; Coordinates all loan proposals with appropriate lending groups.
ESSENTIAL DUTIES & RESPONSIBILITIES:
Interviews loan applicants to document income, debt, and credit history and determines if applicant meets establishment standards for further consideration.
Takes a complete application and collects all required documentation (such as income tax return, bank account number, purchase agreement, and property description, etc.) for verification.
Answers applicant's questions and asks for signature on information authorization forms.
Submits application forms to Mortgage Loan Processor for verification of application information.
Calls applicant or other persons to resolve discrepancies, such as credit report showing late payment history.
Informs applicant of loan denial or acceptance.
Delivers all compliance documents and disclosures in a timely manner.
Prepares the borrower(s) for the process and keeps ALL of the parties involves in the process and up to date on all important developments and current status of application.
Informs applicant of closing costs such as appraisal, credit report, and notary fees.
Reviews and evaluates current loans to ensure compliance with terms and coordinates lending activities with others in the company.
Recommends changes and improvements to management in order to improve specialized lending programs for low to moderate income borrowers.
Provides input to marketing and advertising programs to ensure market awareness of the products and services available to low to moderate income borrowers.
Represents the company in various community development/outreach functions such as Home buyer training classes, home buyer fairs and other events.
Attends meetings sponsored by government and city municipalities that offer assistance to low to moderate income and first time home buyers.
Keeps abreast of changes in federal and state banking regulations and ensure that changes are implemented in a timely fashion.
Specializes in Bond Programs, Fha loans and down payment and closing cost assistance programs available to low to moderate income borrowers.
Performs other related job duties and special projects as assigned.
Complies with all applicable federal, state and local banking and industry related laws and regulations including but not limited to the bank Secrecy Act.
Develops and maintains ongoing relationships with Non Profit Housing groups, realtors and other community organizations that support First Time Home buyers and low to moderate income borrowers.
Stays current with and ensures changes are implemented timely for: Hancock Bank's underwriting policy, Investor guidelines, applicable State and Federal laws and regulations and changes in other aspects of the mortgage industry.
Coordinates the closing with the borrower(s), closing agents, realtors and others involved in the transaction.
Develops and maintains referral networks of bank associates and external referral sources such as realtors, builders, friends, family and others in the community.
Manages a clean pipeline of loans in process coordinating with Processors, Underwriters and Closers on a daily basis.
Keeps Bank associates up to date on changes in the industry and works as a team member with the other lines of business.
Keeps all compliance requirements up to date and maintains a working knowledge of the products and services provided by the other lines of business and Bank affiliates.
Associate's degree and three months to one year related experience and/or training; or equivalent combination of education and experience is required.
Bachelor's degree and two to four years related experience is preferred.
Three years banking experience in community lending is preferred.
Registration with the National Mortgage Licensing System (NMLS) is required.
Anyone who takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan for compensation or gain must register with the NMLS as a Mortgage Loan Officer (MLO). To be registered, the MLO must pass a background check. Failure to comply with registration and annual registration or not pass a criminal background check administered by NMLS will result in termination.
ESSENTIAL MENTAL & PHYSICAL REQUIREMENTS:
Ability to work under stress and meet deadlines
Ability to operate related equipment to perform the essential job functions
Ability to read and interpret a document if required to perform the essential job functions
Ability to travel if required to perform the essential job functions
Ability to lift/move/carry approximately 10 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an "undue hardship" then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.
Equal Opportunity/Affirmative Action Employers. All qualified applicants will receive consideration for employment without regard to race, color, religious beliefs, national origin, ancestry, citizenship, sex, gender, sexual orientation, gender identity, marital status, age, physical or mental disability or history of disability, genetic information, status as a protected veteran, disabled veteran, or other protected characteristics as required by federal, state and local laws.
