Mortgage Loan Advisor

Mortgage Loan Advisor

Job Description:

The key responsibility involves assisting clients in identifying and obtaining permanent FHA/VA and conventional mortgage loans, along with other residential mortgage programs, that suit their financial objectives and requirements, and ensuring adherence to the federal registration obligations stated in the SAFE Act.

Primary Responsibilities:

• Interviews loan applicants to gather and evaluate information related to their financial position, including income, liabilities, assets, and credit history, as well as their desires, income, and earnings to aid in determining whether the loan is a suitable risk; gathers and assesses pertinent financial and credit data.
• Undertakes an independent appraisal of applicant's creditworthiness. Empowered to deliver a pre-qualification notification regarding borrowers' eligibility.
• Evaluates which goods are the most appropriate for the customer's requirements and financial situation and provides guidance to potential borrowers on the benefits and drawbacks of various financial products and the most fitting mortgage loan programs.
• Guides clients on other bank products or alternative borrowing resources that may be suitable.
• Encourages the development of new mortgage business by actively promoting the bank's mortgage products and services to real estate agents, builders, and developers.
• It could be essential to travel to and perform tasks at potential customers' residences or business venues. Subsequently, follows up on potential customers through travel or phone correspondence.
• Conducts discussions with borrowers to establish loan terms and possesses the authority to legally obligate the bank in these negotiations.
• Upholds compliance by following all origination protocols, including bank policies and regulatory standards for lending.
• Counsels management on the adoption of successful compliance strategies and proposes potential revisions to corporate operating policies when necessary to ensure consistent regulatory compliance.
• Watches over the trends and transformations occurring in the nearby real estate market, alongside the ongoing adjustments in rules and regulations regarding both private and government-backed mortgages.
• Functions as the primary liaison between the bank and the community, engaging in activities that aim to identify, develop, and boost business prospects. Conducts seminars for a broad audience, including members of the public and real estate agents, to drive additional business and enhance community involvement.

Scope of Responsibilities:

• The current officeholder is used to working with limited supervision, occasionally being away from the office.
• Significant external outreach is expected in this role, in addition to internal communication primarily during sales visits conducted off-site.
• The position entails engaging with both internal and external teams in the assigned community, establishing new relationships and managing existing ones.
• The accountability for establishing and preserving federal registration mandates outlined in the SAFE Act.

Essential academic and hands-on experience demanded:

• Having completed an associate's program and gained two years of sales experience,
• In place of a formal education, there are alternative routes to consider
• The role mandates a minimum of 4 years of higher education and/or relevant work experience, with a requirement of 2 years of sales experience.
• Extensive knowledge of FHA/VA guidelines, conventional mortgage requirements, and real estate regulations.

The desired profile often comprises a combination of academic credentials and applied expertise:

• Technical Skills
• Working knowledge of personal computing technology and software programs specific to the Residential Mortgage Department
• Proven sales ability.
• Strong mathematical skills.
• Self-motivated, well-organized individual.
• Skilled in articulating thoughts and information verbally and in written formats.
• Aptitude for interacting professionally with individuals at different income levels and peers.
• Proven ability to handle responsibilities solo and to execute them thoroughly.
• Proficiency in meeting demands within strict time constraints.

Committed to equitable, competitive, and market-conscious compensation, M&T Bank ensures that its employees are fairly paid. The pay structure for this role involves a commission-based approach, with an advance draw included. The compensation for the successful applicant will be influenced by their specific blend of skills, expertise, and background.

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