Loan Officer Sample Job Descriptions

The role of the loan officer is to guide our clients to a smooth and timely closing. If you excel in a fast-paced environment, learn quickly, and are interested in a fun/lucrative career – we are interested in you! As an ideal candidate, you will have proven experience managing different types of loans, including home loans, business loans, and individual loans, as well as excellent communication and interpersonal skills. 

Typical duties and responsibilities

• Manages the staff that does the paperwork for mortgage applications
• Verifies information provided on applications and requests more information if needed
• Meets with customers and helps them choose the best mortgage loan they can afford
• Collects data from customers, such as assets, salaries, debts, and employment status
• Verifies applicant history with credit bureaus and other agencies so the lender can approve or deny the loan
• Informs customers of loan application deadlines
• Evaluates credit worthiness by processing loan applications and documentation

Education and experience

• An associate’s degree in banking and finance
• A bachelor’s degree in finance or economics is beneficial
• Mortgage Loan Originator (MLO) license  
• 2+ years of experience in the mortgage lending, banking, or real estate industry

Required skills and qualifications

• Experience using mortgage loan/banking software 
• Strong sales and interpersonal skills
• Excellent organizational and time management skills 
• Ongoing knowledge of federal, state, and local loan processing laws and regulations
• Intermediate Microsoft Office skills
• Excellent written and verbal communication skills
• Ability to work both in a team and independently

Preferred qualifications

• Experience performing business development tasks, including generating leads and referral business, and maintaining relationships with existing and past clients
• Experience using relevant industry-specific computer programs 
• NMLS license

Essential responsibilities

• Ensure proper management of the contact database for all business partners, including realtors, builders, financial planners, attorneys, accountants, etc.
• Create and conduct general marketing tasks to assist in client relationships
• Compile and update an annual calendar
• Send out milestone cards for birthdays, anniversaries, congratulations, thinking of you, etc.
• Send out thank you cards to clients post close
• Create and distribute a monthly mailer to contacts
• Create and distribute regular flyers to contacts
• Create and maintain realtor presentation materials
• Create and conduct a daily success plan to include personal touch points via handwritten note or phone calls
• Maintain social media presence via Facebook, LinkedIn, Twitter, Instagram, and any other applicable social media medium
• Coordinate video recordings for the mortgage team and share to social media
• Support loan officer by performing additional responsibilities as business needs arise

Qualifications

• High school graduate or equivalent
• Minimum of one year of experience in marketing, ideally with social media emphasis
• Minimum of one year of experience in mortgage preferred
• Excellent organization and time management skills
• Excellent verbal and written communication skills with positive attitude
• Proficient in Word, Excel, Publisher, Outlook, and social media sites
• Self-driven individual who can work well in team orientated atmosphere
• Respect of highly confidential information

Personal characteristics

• Self-motivated
• Highly organized and excellent time management skills
• Strong attention to great detail
• Patient
• Ability to get along with others in a team environment
• Professional appearance
• Positive attitude
• Ability to follow instructions and direction

In this role you will

• Solicit residential mortgages from various sources and produce high quality loans which are compliant and provide excellent customer service
• Responsible for the offering of loans, negotiating of terms, and taking an application for a dwelling secured transaction
• Analyze best mortgage loans based on client’s need in order to ensure compliance and maximum customer satisfaction
• Present recommendations for producing loans and exercise some independent judgment while developing understanding of functional area, policies, procedures, compliance requirements, and generating loans
• Provide information regarding the loans to consultants and functional colleagues
• Interact with customers to understand their needs and provide them with a high-quality loan service

Required qualifications

• 2+ years of Mortgage Retail Sales experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, or education

Desired qualifications

• Basic Microsoft Office skills
• Documented retail residential mortgage fundings over the past 12 months referred primarily from established, local, external sources
• Excellent verbal, written, and interpersonal communication skills
• Mortgage industry experience
• Knowledge and understanding of sales prospecting and generating referrals
• Experience developing and cultivating professional relationships
• Customer service experience

Duties

• Obtain an accurate and thorough 1003
• Collect supporting documentation from borrower
• 30 day paystubs
• 2 years tax returns
• Last 2 years W2’s
• Award letters, disability, trust income, etc.
• LOE for Gaps in jobs
• At initial contact with borrower provide needs list and complete application
• 2 months bank statements
• Obtain executed disclosures within regulations time frame
• Obtain accurate AUS findings
• Analyze credit report and financial scenario, determining appropriate loan product(s)
• Determine (price) a profitable loan and communicate fees to ops team
• Submit a complete loan package to processing
• Lock in rate
• Review CD to ensure fees and cash at closing are consistent with commitment to customer
• Issue Lender Credit if needed
• If loan out of balance, work with processor and branch manager to request subsidy
• Resolve file problems, bottlenecks and qualifying issues throughout production and underwriting process
• Provide administrative support in the collection and preparation of submitting loan application with supporting documentation to processing
• Coordinate, create, track, and distribute marketing materials
• Manage client and referral partner databases
• Answer customer inquiries involving rates, products, and loan application status to ensure quality customer service
• Perform any other reasonable duties required by Guild Mortgage Company or Managing Loan Officer

Qualifications

• High school diploma or equivalent required
• At least two years of experience in Mortgage lending or related field
• Active NMLS License
• Ability to manage multiple priorities, strong detail orientation, and highly organized
• Works with a strong sense of urgency and responsiveness
• Passionate about delivering excellence in customer service
• Demonstrated patience and professionalism when interacting with both internal and external customers
• Proficiency with data entry, PDF software programs, Microsoft Word, and Excel required
• Strong verbal and written communication skills

Requirements

• Physical: Work is primarily sedentary; mobility in an office setting
• Manual Dexterity: Frequent use of computer keyboard and mouse
• Audio/Visual: Ability to accurately interpret sounds and associated meanings at a volume consistent with interpersonal conversation. Regularly required to accurately perceive, distinguish and interpret information received visually and through audio; e.g., words, numbers, and other data broadcasted aloud/viewed on a screen, as well as print and other media
• Environmental: Office environment – no substantial exposure to adverse environmental conditions