Loan Broker

Job Description

REQUIREMENTS

• Proven experience as a loan officer or in a similar financial sales role within mortgage or banking industries.
• Strong understanding of loan origination, processing, underwriting, and mortgage servicing procedures.
• Familiarity with FNMA guidelines, TILA regulations, Fair Housing laws, and escrow processes.
• Proficiency in financial software such as Quicken, banking systems, escrow management tools, and accounting software.
• Demonstrated negotiation skills with the ability to secure optimal terms for clients while maintaining compliance standards.
• Excellent customer service skills with a focus on clear communication and relationship building.
• Basic math skills including 10 key typing proficiency for data entry accuracy.
• Knowledge of contracts, credit analysis techniques, and the use of financial calculators for precise assessments. 

RESPONSIBILITIES

• Engage with clients to understand their financial goals and assess their borrowing needs through comprehensive consultation.
• Guide clients through the loan application process, ensuring all documentation is accurate and complete.
• Analyze credit reports, perform credit analysis, and evaluate financial information using tools like Quicken or other financial software.
• Collaborate with underwriters and loan processors to facilitate timely approval and funding of loans while adhering to FNMA (Fannie Mae) guidelines and Fair Housing regulations.
• Negotiate terms with lenders on behalf of clients to secure favorable interest rates and repayment conditions.
• Maintain detailed records of all transactions, contracts, and communication using banking or accounting software.
• Stay informed about industry regulations such as TILA (Truth in Lending Act), mortgage servicing standards, and escrow procedures to ensure full compliance.
• Provide excellent customer service by addressing client inquiries promptly, explaining complex loan options clearly, and guiding clients through the entire loan origination process.

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