Managing Loan Officer

Position purpose - Responsibilities/Duties/Functions/Tasks

The purpose of this position is to oversee the day-to-day activities of Loan Officers while ensuring that the branch’s loan origination goals and quality standards are met, as well as to enhance PRMI’s market position by locating, developing, defining, negotiating, and closing business relationships; proactively solicit new residential mortgage clients, while developing and cultivating a strong business network of referrals.

 Responsibilities include analyzing the borrower’s financial and credit data to determine creditworthiness and the probability of financial security in repayment efforts, directing, coordinating, and monitoring all sales, branch operation, and personnel development activities to create a business operation that increases sales, profitability, market share, and customer and employee satisfaction.

Originates their own sales by contacting prospective clients,

Develops and maintains referral sources,

Spends at least one or two hours a day, two or more times a week outside of the office (including a home office), originating loans,

Meets with prospective clients at locations other than PRMI’s offices, e.g., client’s home or other locations,

Meets with clients in person to sell mortgage loan products/packages,

Contact with clients by telephone, mail, and e-mail is adjunct to in-person contacts,

Obtains credit information and necessary documentation for application process,

In-person calls outside of the office on real estate agents and brokers, financial advisors, and other potential referral sources to develop borrower leads,

Engages in marketing and promotional activities in support of their own sales,

 Develops new and continued business opportunities and sales leads by cultivating relationships with realtors, builders, bankers, etc.

Develops solid PRMI product knowledge and offers clients the best mortgage products to match client needs

Reviews application information, requesting specific supporting documentation as needed/required based on loan investor guidelines

Objectives and the interests of PRMI’s customers regarding significant financial decisions

Carries out major assignments affecting business operations of the employer or the employer’s customers through:

o   collecting and analyzing information regarding the customer’s income, assets, investments, or debts

o   analyzing applicant data, credit and collateral property value

o   determining which financial products best meet the customer’s needs and financial circumstances

o   providing advice to the customer regarding the advantages and disadvantages of available financial products

o   marketing, servicing, or promoting the employer’s financial products

·         Completes necessary continuing education in a timely manner and remains current on local developments and trends within the real estate and mortgage industries

·         Provides origination services in the state of licensure

·         Creates and maintains excellent business relationships with referral client base, creating new mortgage lending opportunities

·         Corresponds, communicates, and coordinates with clients, in-house support staff, and external service providers to facilitate timely closings

·         Assesses local market conditions, identifies current and prospective sales and business opportunities

·         Participates in development and research activities that increase branch’s strengths, identify potential new markets and business opportunities, increase share of market, and obtain a competitive position in the industry

·         Analyzes and exercises independent judgment and discretion in advancing PRMI’s business objectives and the interests of PRMI’s customers regarding significant financial decisions

·         Directs all operational aspects of the branch which include distribution operations, customer service, human resources, administration, and sales in a manner that supports reaching the profitability goals  

·         Communicates effectively with other branches and senior managers concerning effective practices, competitive intelligence, business opportunities, and needs 

·         Manages the branch by following high ethical standards and complying with all government regulations

·         Maintains and enforces personnel policy

·         Regularly evaluates the effectiveness of the branch operation to ensure policies are being observed and the profitability goals of the branch, division, and organization are being achieved

·         Takes prompt corrective action as needed

·         Increases personal knowledge and expertise in business, appropriate technology, etc.

·         Follows company policies and procedures

·         Performs other duties as assigned

Qualifications

·         Sales experience in the mortgage industry is preferred

·         Familiarity with mortgage processes, procedures, rules, regulations, and compliance

·         Exceptional customer service skills with a strong attention to detail

·         Excellent written and verbal communication skills

·         Strong computer skills to include a working knowledge of MS Office

·         Ability to analyze financial data and prepare financial reports, statements, and projections

·         Ability to effectively communicate and present complex financial information while fielding and responding to questions from applicants, support staff, and management

Preferences

·         Knowledge of Microsoft Office and telephone protocol

·         Ability to type 50 wpm

·         Reporting Skills, Administrative Writing Skills, Process Management, Organization, Analysis, Professionalism, Problem Solving, Supply Management, Inventory Control

Company Conformance Statements

In the performance of assigned tasks and duties all employees are expected to conform to the following:

§  Review and adhere to policies and guidelines contained within the Employee Handbook, including privacy and information security guidelines.

§  Act within delegated authorities and adheres to applicable policy and procedures associated with such authorities.

§  Contribute to establishing a respectful workplace where diversity is critical to innovation and growth.

§  Ensure every action and decision is aligned with PRMI values.

§  Partner with your management team to understand performance expectations and measurements. Effectively utilize feedback and coaching opportunities while seeking to learn and develop within your role at PRMI.

§  Realize team synergies through networking and partnerships across PRMI.

§  Embrace change; act as advocate and role model, promoting an approach of continuous improvement.

§  Maintain a high standard of customer care while actively listening to customers in an effort to understand their views and needs.  Take ownership of problems and issues, taking into consideration the breadth of PRMI competencies in providing solutions.

§  Work independently while understanding the necessity for communicating and coordinating work efforts with other employees and organizations.

§  Work effectively as a team contributor on all assignments.

§  Perform quality work within deadlines.

§  Respect client and employee privacy.

§  Maintain eligibility for FLSA classification as Outside Sales Exempt, and complete the quarterly certification process

Work Requirements

Each employee must be able to communicate clearly and effectively, utilize a computer, maintain a work schedule, and effectively perform in an office setting.  To maintain and ensure secure privacy of borrower (and other protected) information, an essential function of this job may require physical attendance in a defined office space. (i.e. branch or corporate office location).  Employment with PRMI requires compliance with and adherence to all applicable mortgage and fair lending laws and regulations as well as PRMI policies. The ability to work extended hours may be required.

Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.