Construction Loan Officer sources and structures construction loans. Performs a due diligence review of potential borrowers, including risk and financial analysis. Being a Construction Loan Officer analyzes applicants' credit and financial status and obtains property appraisals to determine the feasibility of granting loans. Develops relationships with builders and developers to obtain referrals and future lending opportunities. Additionally, Construction Loan Officer structures construction loan terms and conditions according to policies. Approves loans within authorized limits or refers them to a loan committee for approval. May disburse loan proceeds at designated project mile. Requires a bachelor's degree. Typically reports to a manager. The Construction Loan Officer occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. To be a Construction Loan Officer typically requires 2 -4 years of related experience. (Copyright 2024 Salary.com)
Responsibilities:
• Participate and complete training as directed by the senior loan officer.
• Assist with originating and evaluating mortgage loans according to company guidelines and standards.
• At the direction of the senior loan officer, meet with mortgage loan borrowers on the phone and in person, advising and guiding them throughout the entire loan process.
• Assist in reviewing and calculating income on wage-earning and self-employed borrowers.
• Assist with the review and recalculation of assets per documentation.
• Assist borrowers with mortgage technology systems, e-signing and uploading of documents.
• Prepare and organize loan origination documents, and validate required borrower information.
• Pull credit reports and run loans through the automated underwriting system.
• Order third-party services, and submit files to processing.
• Research investor/agency guidelines via AllRegs, ensure loans meet requirements and assist loan officers with structuring loans and selecting qualifying investors.
• Generate initial loan disclosures and send to borrowers for execution.
• Submit and monitor the status of applications.
• Maintain good relationships with clients by keeping them informed.
• Interact with real estate agents, appraisers and sales agents as needed.
• At the direction of the senior loan officer, coordinate, communicate and guide all borrowers, real estate agents and attorneys through the loan process and loan statuses.
• At the direction of the senior loan officer, contact borrowers to collect additional supporting documentation.
• Assist with the review and approval of initial closing disclosures, and assist in scheduling closings.
Required Qualifications:
• Active mortgage loan origination license
• Some experience in mortgage banking
• Excellent interpersonal, communication, presentation and sales skills
• Compliance with financial and lending practices
• Strong verbal skills
• Professional and outstanding attitude
• Microsoft Office skills (Word, Excel, PowerPoint, etc.)
• Sales aptitude with a focus on customer service
Preferred Qualifications:
• Experience with Encompass LOS
• Experience with AllRegs
• Experience with Total Expert or other CRMs
• Experience in a multi-lender environment
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0 Construction Loan Officer jobs found in Wilmington, DE area