Part Time External Mortgage Loan Originator
Description
Working on a part-time basis, less than 20 hours per week, to establish referral source relationships for a steady flow of loan volume from real estate brokers and other external sources.
Accountabilities and Job Activities:
Primary duty is to sell mortgage loans to customers away from and outside of FF Cruz Branchs places of business. Work done at FF Cruz Branchs offices is related and supplemental to outside sales.
Generate new business by building and maintaining relationships with realtors, real estate agents, title and escrow officers, financial advisers, CPAs, and other relevant professionals.
Regularly participate in mortgage sales including, but not limited to, attending closings and open houses, and conducting seminars and other lead-generating activities.
Take information from the borrower and fill out the loan application.
Develop relationships with referral partners such as realtors to generate new customers.
Analyze the prospective borrowers income and debt and pre-qualify the prospective borrower to determine the maximum mortgage that the prospective borrower can afford.
Counsel the prospective borrower in the home buying and financing process, advising the borrower about the different types of loan products available, and demonstrating how closing costs and monthly payments would vary under each product.
Collect financial information (tax returns, bank statements) and other related documents that are part of the application process;
Provide disclosures to the borrower, including truth in lending, good faith estimate, and others.
Counsel and advise the borrower in understanding and clearing credit problems.
Maintain regular contact with the borrower, realtors, and the lender, between application and closing to apprise them of the status of the application and to gather any additional information as needed. This includes borrowers, realtors for other loan originators on the TEAM.
Order legal documents.
Review closing disclosure prior to closing.
Complete mandatory company trainings within the required timelines.
Qualifications
Must have appropriate state license or certificate (varies by state).
Must have a thorough knowledge of pricing and underwriting requirements of various mortgage insurance companies.
Must have a working knowledge of credit underwriting and property eligibility requirements for FNMA, FHLMC, FHA, VA, local bonding programs and private investors.
Must be familiar with local, state and national laws (e.g. zoning ordinances, Truth-in Lending, RESPA, energy audit requirements, etc.)
Must have excellent communication skills and the ability to analyze financial information.
Must be a sales-oriented self-starter.
Must be capable to work independently
Work Environment/Physical Demands:
Travel is required 80% of the time.
Job Type: Part-time
Expected hours: 20 per week
Language:
Spanish (Required)
English (Required)
License/Certification:
state license to work as a MLO in your state? (Required)
Work Location: Remote
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