Reverse Mortgage Banker

GENERAL SUMMARY:

Develops and solicits residential reverse mortgage business using a variety of sales techniques

including regular calls to bank branch network, builders and other referral sources and preparing marketing tools to promote mortgage products. Meets with borrowers to discuss specific needs and matches needs to the

appropriate product. Completes the application process ensuring all applicable regulations are

met.

 

MAJOR JOB ACCOUNTABILITIES:

1. Business Development

Establishes and maintains relationships with  bank branch network and other referral

sources. Develops marketing tools to introduce products to referral sources and potential

borrowers. Conducts sales calls and presentations on a regular basis. Promptly

contact referrals and responds to referral sources. Explores and develops new methods

for attracting business.

 

2. Client/Realtor Relationships

Answers questions and guides borrower through the loan approval process. Maintains

regular contact with borrower. Ensures inquiries receive a prompt

and accurate response. Maintains a high standard of professional and courteous

service at all times. Actively cross sells additional bank products to further establish

relationship.

 

3. Loan Origination

Maintains expected level of production. Interviews borrower in a courteous and

professional manner. Determines borrower's needs and matches them to the product

that will meet those needs. Obtains all necessary information to complete the

application. Accurately inputs application into pipeline database. Provides assistance

and follow up as needed throughout processing to ensure timely closing and settlement.

Maintains contact with secondary market staff to monitor loan rates regularly.

 

4. Loan Quality

Maintains thorough knowledge of reverse mortgage products and related underwriting

guidelines. Effectively matches borrower to product that will gain loan approval.

Conforms with all underwriting guidelines for each loan. Documents exceptions or

additional explanations. Works in cooperation with secondary market and underwriting

staffs.

 

5. Compliance

Maintains familiarity with all related lending regulations and any changes to those

regulations. Provides borrower with all necessary disclosures within specified time

frames as required by law. All contacts with borrower including the application process

conform to all related lending regulations.

 

KNOWLEDGE, SKILLS, AND ABILITIES: 1. Work requires a strong knowledge of mortgage and real estate principles spanning thevariety of product offerings available to the borrower. This knowledge is generallyacquired through previous or on-the-job work experience and study. Aptitude forbusiness math is required in order to accurately complete application process anddiscuss borrowing options. 2. Strong aptitude for sales and business development is necessary to meet establishedproduction goals and remain competitive. This aptitude would include being highlymotivated, goal driven, and possessing outstanding interpersonal, time management,and organizational skills. 3. Ability and willingness to use personal computer systems to enter application data anddevelop marketing tools is required. 4. Ability to effectively express ideas orally and in writing. Ability to prepare businesscorrespondence, prepare and complete business development calls, and prepares andmakes presentations to realtors, builders, and/or borrowers. 5. Work involves making decisions within the framework of practices and proceduresand/or precedents or well-defined policies and/or their supervisor's review. Latitude isprovided to determine work priorities, and to deviate from established practices andprocedures provided that the outcome of their work falls within accepted standards ofquality, volume, timeliness, etc.  EOE/AA