Loan Development Specialist

Job Description for Loan Development Specialist:

Primarily tasked with working alongside customers to identify and acquire permanent FHA/VA and conventional mortgage loans, as well as other residential mortgage programs, that align with their financial objectives and preferences, while also ensuring compliance with federal registration under the SAFE Act.

Primary Responsibilities:

• Interviews individuals applying for loans to collect and analyze data on their financial situation, like income, debts, assets, and credit data, along with their wants, earnings, and needs to assist in determining the suitability of approving the loan; obtains and evaluates critical financial and credit information.
• Assesses the financial viability of applicants independently. Authorized to provide a pre-qualification assessment statement on borrowers' eligibility.
• Determines the most fitting products that cater to the customer's needs and financial situation while advising potential borrowers on the advantages and disadvantages of various financial products and the most appropriate mortgage loan programs.
• Suggests other bank products or alternative funding options for customers if needed.
• Drives the growth of mortgage business by engaging with Realtors, builders, and developers to market and promote the bank's mortgage products and services.
• It might be necessary to visit and carry out tasks at potential customers' residences or business sites. Afterwards, follows up with potential customers via travel or telephone outreach.
• Discusses terms of loans with borrowers and is authorized to formally agree to these terms on behalf of the bank.
• Maintains compliance with all origination processes, comprising adherence to bank policies and regulatory mandates for lending.
• Provides insight to management on effective compliance strategies and suggests potential adjustments to corporate operating policies where necessary to ensure continued adherence to regulations.
• Keeps abreast of the shifts and progressions in the regional real estate market, along with the evolving guidelines and regulations pertaining to both private and government-backed home loans.
• Acts as the bank's public face within the community, engaging in activities and events to recognize, develop, and endorse new business opportunities. Conducts seminars for various audiences, including the general public and real estate professionals, to promote additional business and enhance community outreach efforts.

Scope of Responsibilities:

• The incumbent is familiar with working under limited supervision, sometimes operating outside the traditional office setting.
• A key aspect of this position is establishing and maintaining extensive external relationships, as well as internal communication primarily during sales visits outside the office.
• The role involves engaging with individuals and teams internally and in the designated community, cultivating new relationships while also sustaining current ones.
• The responsibility for creating and maintaining federal registration guidelines as specified in the SAFE Act.

Required educational attainment and practical expertise:

• An associate's degree alongside a two-year sales background,
• Rather than focusing on a degree, different educational paths can be followed
• Successful candidates will have accumulated at least 4 years of higher education or applicable work experience, with 2 years dedicated to sales.
• Thorough understanding of FHA/VA mandates, conventional loan prerequisites, and real estate legalities.

The ideal candidate is sought to have a blend of educational background and hands-on practice:

• Technical Skills
• Sound understanding of personal computer systems and software tools commonly used in the Residential Mortgage Department
• Proven sales ability.
• Strong mathematical skills.
• Self-motivated, well-organized individual.
• Demonstrates high competence in expressing ideas verbally and through writing.
• Proficient in engaging in professional interactions with individuals at all income levels and peers.
• Confirmed capability to work autonomously and diligently complete tasks to the end.
• Ability to function well in high-pressure time scenarios.

M&T Bank is committed to fair, competitive, and market-informed pay for our employees. Compensation for this role is based on commission - a draw will be advanced. The successful candidate's particular combination of knowledge, skills, and experience will inform their specific compensation.

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