Mortgage Consultant (Loan Officer)

Universal Mortgage Corporation (UMC), a wholly-owned subsidiary of Peoples State Bank (PSB), had been an independent mortgage company in business since 1966, when it was acquired by PSB in May 2000.

UMC has mortgage originators located throughout the metro Detroit area. They understand the importance of long-term relationships and realize that the assistance they provide is made more meaningful by asking the right questions, instead of knowing all the answers. Along with their partners at Peoples State Bank, they pride themselves on looking out for their customers’ best interest. The bank currently serves the Detroit tri-county area with eleven offices in Farmington Hills, Grosse Pointe Woods, Hamtramck, Madison Heights, Southfield, Sterling Heights, Troy, Fenton and Warren.  Peoples State Bank accommodates the financial services needs of consumers and small businesses in its market by providing a full line of deposit, lending and other products through traditional branches as well as by state-of-the-art electronic methods.  We have been named for the last 3 years to Metropolitan Detroit's list of "101 Best and Brightest Companies to Work For" list.  We are looking for a dynamic candidate to join our team in the position of a Mortgage Consultant. 

Job Summary:

Originates residential mortgage loans sourced both from Peoples State Bank and referrals outside of the bank.  Establishes and maintains client referral relationships with realtors, builders, developers, financial planners, and other sources.  Makes sales calls on potential or existing customers to develop new business or retain existing business relationships.

 

Duties and Responsibilities:

1.  Acquire a sound understanding of the mortgage products offered by UMC.

 

2.  Counsel with clients to recommend the best mortgage products for their individual circumstance. 

 

3.  Instruct clients regarding the appropriate income and asset documentation to bring to the application interview. 

 

4.  Provide appropriate disclosures to clients, explaining clearly the terms of the mortgage product for which they are applying.  Obtain borrower’s signatures and date the application as required by compliance guidelines.

 

5.  Enter a complete application into the loan origination computer system.  Ensure application date and method of application (face to face, phone or mail) is correctly input in the system.

 

6.  Order a tri-merge credit report and confirm debts with the client.

 

7.  Input the application to the automated underwriting system and review the findings.

 

8.  Lock the interest rate when requested by the client.

 

9.  Request and review the necessary credit documentation from the borrower and work with the processor to obtain any missing items.

 

10.  Collect fees for credit report and appraisal.

 

11.  Complete notes to the processor in the loan origination system and provide ongoing communication to the borrower and processor as the application progresses.

 

12.  Notify borrower if loan is denied.

 

13.  Review final HUD1 from the title company to ensure rate, points, and fees are correct.

 

14.  Keep informed of trends and developments in the local real estate market, as well as guideline changes for both private and government investors. 

 

15.  Maintain professional image and standards consistent with company policies and procedures.

 

Knowledge/Skills/Abilities:

·  Associates degree required, Bachelor’s degree in business, finance, economics or related field preferred.

·  At least one to three years prior experience as a Mortgage Consultant or equivalent experience in sales and/or training in lending. 

·  Documented track record of success in sales and consistent monthly loan volume production.

·  Well-versed in consultative selling.

·  Excellent and effective communication skills including proficiency in computer application programs.

·  Proactive, self starter.