Also known as mortgage officers, mortgage loan officers consult with clients to determine their best loan option. They assist them with completing the application form before submitting it to the underwriting department for approval. They also assist with compiling the contract and closing the mortgage.

Mortgage Loan Officer Job Description Template

We are looking for a detail-oriented mortgage loan officer to join our team. In this role, you will be responsible for the loan application process, from determining the client’s needs to recommending the right loan product and signing the contract. You should also be able to identify possible risks in the application process.

To be successful as a mortgage loan officer, you should stay up to date with product requirements and ensure a quick turnaround time on the application process. Ultimately, a top-notch mortgage loan officer is excellent in customer service delivery while being mindful of the company’s risk of default loans.

Mortgage Loan Officer Responsibilities:

  • Interviewing clients and assisting them with the completion of loan applications.
  • Working closely with the underwriting department to determine conditions for loan approval.
  • Screening and assessing new mortgage applications for loan eligibility.
  • Ensuring that personal information such as income and expenditure are received and captured.
  • Identifying potential risks that can lead to a default on the mortgage loan.
  • Preparing contracts for mortgage loans and ensuring they are signed correctly.
  • Preparing loan closing documents once a mortgage has been repaid.
  • Working closely with real estate agents to increase the number of loans in the company’s loan portfolio.
  • Ensuring compliance with mortgage loan regulations and privacy laws.
  • Reporting to management on applications received, approved, and declined.

Mortgage Loan Officer Requirements:

  • A high school diploma or a bachelor’s degree in finance.
  • Prior clerical experience working at a bank or mortgage lending company.
  • Familiarity with financial software programs such as CRM and LOS.
  • Working knowledge of banking services regulations.
  • Great analytical and mathematical skills.
  • Strong decision-making skills.
  • Ability to handle confidential information according to company policies and banking regulations.
  • Time management skills and ability to prioritize.
  • Strong attention to detail.
  • Great written and communication skills.