Loan Consultant

Job Description:Loan Consultant

Mainly focused on helping customers in identifying and securing permanent FHA/VA and conventional mortgage loans, along with other residential mortgage programs, that best cater to their financial needs and objectives, while following the federal registration requirements outlined in the SAFE Act.

Primary Responsibilities:

• Meets with loan candidates to collect and assess information regarding their financial circumstances, such as income, debts, assets, and credit information, as well as their preferences, needs, and earnings to help in deciding the acceptability of the loan; procures and reviews relevant financial and credit details.
• Analyzes the credit standing of applicants independently. Holds the authority to issue a pre-qualification evaluation of borrowers' eligibility.
• Assesses the most suitable products for customers based on their needs and financial circumstances and offers advice to potential borrowers regarding the advantages and disadvantages of different financial products and the most appropriate mortgage loan programs.
• Proposes alternative lending vehicles or additional bank products based on individual customer needs.
• Facilitates the acquisition of new mortgage clients by promoting and servicing the bank's mortgage products, establishing connections with Realtors, builders, and developers to attract residential mortgage applications.
• The role may involve traveling to and working at potential customers' homes or business establishments. It also entails following up with potential customers through travel or telephone communication.
• Engages in negotiations with borrowers to finalize loan terms and has the power to make legally binding commitments for the bank.
• Ensures that lending activities comply with all origination procedures, which include bank policies and regulatory requirements.
• Guides management on best practices for compliance and proposes potential changes to corporate operating policies as needed to maintain consistent regulatory compliance.
• Stays informed about the fluctuations and innovations unfolding in the local real estate sector, as well as the revisions in regulations surrounding both private and federally-insured mortgages.
• Represents the bank within the community, participating in various activities and programs to discover, cultivate, and advance new business prospects. Hosts seminars for different groups, such as the general public and real estate agents, to stimulate additional business and strengthen ties within the community.

Scope of Responsibilities:

• Those currently in the position are accustomed to working independently with minimal supervision, occasionally working remotely.
• The job requires a substantial amount of external outreach, along with internal collaboration primarily during sales calls away from the office.
• Tasks include interacting with individuals and teams within the organization and community, establishing fresh relationships and maintaining existing ones.
• The obligation to implement and uphold federal registration specifications as laid out in the SAFE Act.

Prerequisites in terms of education and professional background:

• Individuals who hold an associate degree and have accumulated two years of sales knowledge,
• Instead of a diploma, other opportunities can be explored
• Individuals applying need to have a minimum of 4 years of higher education or relevant work experience, including a minimum of 2 years of sales experience.
• Well-versed in FHA/VA stipulations, conventional loan essentials, and legal frameworks within the real estate industry.

The recommended qualifications emphasize a fusion of formal education and real-world experience:

• Technical Skills
• Proficiency in utilizing personal computers and software applications commonly found in the Residential Mortgage Department
• Proven sales ability.
• Strong mathematical skills.
• Self-motivated, well-organized individual.
• Remarkable proficiency in both oral and written communication.
• Ability to communicate effectively with people from diverse income groups and colleagues in a professional capacity.
• A demonstrated aptitude for independent work and meticulous follow-through on tasks.
• Aptitude for working effectively under urgent time pressures.

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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