Mortgage Broker Job Description
Responsible for working on behalf of the mortgage lender and borrowing individual by assembling and verifying all closing documents required by title insurance company and initializing loans. Broker NMLS# required.
- Work with various lenders to find the best deal for a homebuyer.
- Originate loans to submit to lending institutions.
- Act as an intermediary between a lender and a borrower who needs a mortgage loan.
- Evaluate pay stubs, credit history, tax information and bank statements for financial status.
- Work to ensure compliance with banking and or finance laws in the jurisdiction of the consumer.
- Sell loans in the name of other organizations and businesses.
- Verify the income of the borrower as well as gather their credit information.
- Follow through with lender and client during approval process.
- Explain the legal aspects of the loan to the borrower as well as the payment terms and clauses to them.
- Define repayment terms to consumer and educate them on default consequences
- Mortgage Processor needed ASAP!
What You Will Be Doing
- Monitor incoming correspondence (emails, faxes, etc.) and respond accordingly
- Support Mortgage Operations staff by placing vendor orders (title/escrow, appraisal, flood, condo questionnaire, verification of employment, verification of rent, insurance, etc.)
- Follow up/assist with status requests on vendor orders
What You Need for this Position
Core skills and experience:
- Minimum 1-3 years’ previous experience in administrative support
- Previous experience with mortgage lending, specifically operations required