Loan Development Specialist

Job Summary:Loan Development Specialist

The Loan Development Specialist initiates mortgage loans within a specified non-bank area by accepting loan applications, conducting preliminary underwriting assessments, and submitting applications for processing and underwriting approval. They are responsible for ensuring the prompt acquisition of required documentation for processing, underwriting, and closing. The role involves consistent engagement in initiating and soliciting loan sales and executing sales-related tasks outside of U.S. Bank premises.

Key Responsibilities:

• Engages in the creation and completion of mortgage transactions for clients within designated non-bank zones.
• Assesses loan requests, conducts preliminary underwriting analyses, and presents applications for processing and underwriting approval.
• Facilitates the timely collection of essential paperwork for processing, underwriting, and closing stages.
• Frequently conducting loan sales outside U.S. Bank establishments, with a minimum of half their time dedicated to off-site engagements.

Basic Qualifications:

• Achieving the necessary criteria for a high school diploma or its counterpart.
• Applicants should have a minimum of one year of experience in mortgage, sales, real estate, or banking.
• Ability to travel.

Preferred Skills/Experience:

• Well-developed sales ability.
• Being well-versed in the pricing and underwriting requirements of different mortgage insurance companies is key.
• Comprehension of the underwriting guidelines for FNMA, FHLMC, FHA, VA, local bonding programs, and private investors to meet requirements effectively.
• Elementary familiarity with regulations at local, state, and national levels.
• Skill in executing responsibilities without reliance on others.
• Adept at dissecting and comprehending financial data.
• Excelling in the art of conveying messages through speaking and writing.
• Having a solid foundation of referrals in the designated market is highly recommended.

Compensation Benefits and Total Rewards:

• Medical, dental, and vision care are essential components of healthcare that cater to different aspects of individuals' health.
• Term life insurance encompasses both basic and optional plans, with basic coverage offering standard benefits and optional coverage providing additional features for policyholders.
• Disability coverage: Includes protection for disabilities of varying durations.
• Pregnancy disability leave provides protection for pregnant individuals who experience medical complications that affect their ability to work.
• Retirement: A retirement plan with employer-funded 401(k) benefits.
• Paid Time Off incorporates paid vacation benefits, which can range from two to five weeks depending on the employee's salary tier and length of service, alongside up to 11 paid holidays.

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