Mortgage Loan Originator

About The Role

Western Security Bank is recruiting for an experienced Mortgage Loan Originator. The Mortgage Loan Originator (MLO) is responsible for developing and originating residential mortgage loan business while guiding borrowers through the mortgage application and approval process. The position will be located in the Billings area, with the specific branch assignment to be determined. Specific focus will be on obtaining loan applications, business development, interviewing clients, analyzing financial and related data, determining appropriate pricing and loan structure, and making appropriate loan decisions.

Requires the ability to comply with all regulatory and compliance guidelines. Responsible for identifying and cross-selling all loan and deposit products and services. Must be team and sales oriented and have excellent communication and interpersonal skills. Requires self-direction, tact, diplomacy, and a clear, courteous, and professional manner when dealing with the public and other employees. Must be a self-starter with ability to adapt to change, work under pressure, and have attention to detail.

This position requires exceptional customer service skills, positive attitude, and expressed enthusiasm.

There are no direct supervisory responsibilities to the position, but the incumbent will work closely with real estate loan support staff and various branch personnel. If there is a designated Loan Assistant assigned, the MLO will be responsible for the training and workflow of that employee. The MLO will provide input on performance reviews and personnel issues in order to assist the Mortgage Loan Manager with the task of evaluation and discipline.

The position is paid based on a separate “work agreement.” The work agreement meets the requirements of Montana and federal compensation guidelines and laws as well as being compliant with the loan originator compensation rules set forth in the Truth in Lending Act, Regulation Z, and the Official Staff Commentary. Additionally, the MLO is responsible for compliance with the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) including providing all required information to be registered in the state of Montana MLO registry.

• Actively solicits loans from realtors, builders, major employers, etc. and gives high quality service to establish on-going business relationships.
• Generates and fully completes the mortgage loan applications. Works with a loan process/closer/underwriter to complete all documentation required for loan approval as quickly as possible. Makes sure details on loan documentation are complete and correct prior to closing to ensure accuracy and compliance with state and federal regulations, bank policy, and compliance regulations.
• Oversees the entire loan process from application through loan closing, making certain all requirements for the loan have been met. MLO’s do not have the authority to approve a loan that will be booked to the employer for longer than thirty (30) days, including construction loans. All loans that will be booked and retained on the employer’s loan balances longer than thirty (30) days must be pre-approved by the President or designee.
• Adheres to timeline requirements and proper pipeline management per Mortgage HUB direction.
• All provisions of the Employee Manual and the current signed job description will be applicable to the MLO.
• Analyze loan requests for residential real estate loans.
• Knowledge and ability to originate FHA, VA, and conventional loans.
• Order and review title reports, legal documents, and appraisals.
• Approve loan fund disbursements.
• The MLO is fully responsible for collecting all appraisal fees. If any uncollected fees are outstanding ninety (90) days after the appraisal report is received, the employer may pursue disciplinary action.
• MLO will not solicit loans for refinance which are serviced by the employer, or request/suggest to borrower that they be contacted for refinance should rates fall. The solicitation for refinance does not include a borrower asking the loan originator to contact them with market changes, but simply means the Loan Officer…