Community Mortgage Loan Officer

Community Mortgage Loan Officer

The Community Mortgage Loan Officer identifies, develops and maintains a quality network of community-based organizations, Realtors, and local state/government agencies that serves as a recurring source of referrals of new mortgage lending opportunities with an emphasis on the Community Reinvestment Act (CRA), Low-and Moderate-Income (LMI), Multicultural and First Time Homebuyer customer segments. The individual would have an extensive understanding of the local Affordable Housing Market, Housing Assistance Programs, and experience providing thoughtful mortgage lending solutions and guidance to low-and moderate-income, Multicultural and First Time Homebuyers.

Depth & Scope:

• Takes residential mortgage loan applications and communicates underwriting decisions, including offers and/or counter offers of residential mortgage products
• Increases mortgage loan volume, focusing on CRA, low-and moderate-income, and multicultural borrowers through effective selling of the Bank's products and programs; Researches organizations and agencies within assigned geographic area which are focused on providing services to low and moderate income persons and communities
• Establishes through direct outreach efforts, relationships with nonprofit organizations, realtors, state and local housing offices, and community-based affordable housing organizations to generate and increase CRA mortgage opportunities
• Represents the bank in community-based meetings and initiatives such as housing seminars, financial literacy programs, affordable housing conferences, etc., which have the primary focus of providing services to low-and moderate-income persons
• Explains variety of mortgage products and services available and offers recommendations based on evaluation of individual prospect needs; Communicates terms and conditions of loans and finalizes sales
• Sells other Company products and services as appropriate
• Guides customers through the mortgage application process; Explains information required and delivers required disclosures and other information to customers; Ensures applications are completed accurately and contain required information and supporting documentation; Manages expectations regarding processing times and closing dates together with customers
• Communicates regularly with customers, underwriters, processors, realtors, closing agents and others to ensure application process proceeds as planned; Coordinates any additional information requests, clarifications and other problem solving as needed so that process remains on schedule; Attends closings as needed
• Informs management of progress relative to goals on a regular basis and asks for assistance as needed to finalize sales, for training and for other issues as needed
• Sells and originates residential mortgage loans according to established policies, procedures and applicable legal and regulatory guidelines
• Communicates loan decisions directly to customers, explains any additional information needed and submits application materials and other required information to processing area to clear any conditions to finalize the loan commitment and prepare for closing
• Maintains current information on the trends and developments in the local real estate market, as well as policies, procedures, rules and regulations related to retail mortgage products
• Maintains growing network of outside referral sources in assigned territory, such as real estate brokers, builders, attorneys, accountants, financial planners and other business professionals; Continues researching market, identifying individuals and organizations likely to produce referrals and developing relationships to increase the referral flow; Ensures referral sources have current information on mortgage products and services
• Enters information into mortgage loan system so that loans will appear accurately in the pipeline; Creates supporting files with backup and explanatory documentation and information for underwriting, regulatory and other purposes; Sends application and other required information to underwriting area

Education & Experience:

• Bachelor's degree or progressive work experience in addition to experience below
• 3+ years related experience required
• Growing network of outside contacts to generate quality referral business
• Self-directed, ability to plan own activities to achieve sales goals
• Excellent time management skills
• PC skills, including knowledge of mortgage origination and automated underwriting systems
• Employee must maintain an active registration status with NMLS (Nationwide Mortgage Licensing System and Registry)
• Established network of community-based organizations, municipalities and agencies whose primary focus is affordable housing and first time home buyer education
• Demonstrated sales ability
• In-depth knowledge of mortgage industry, products, lending practices and regulatory guidelines
• Growing network of outside contacts to generate referral flow
• Minimum target annual loan originations of 48 LMI/multicultural units

OCC Language:

• This position falls within the definition of Loan Originator as defined under Regulation Z of the Truth in Lending Act, 12 CFR Part 1026.36, and the definition of Mortgage Loan Originator as defined under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act), 12 U.S.C. 5102 et seq., and its implementing regulations, 12 CFR Part 1007
• Must be eligible for employment with a covered financial institution under the standards established by Regulation Z of the Truth in Lending Act, 12 CFR Part 1026.36
• Must be eligible for registration as a registered mortgage loan originator with the NMLS (Nationwide Mortgage Licensing System and Registry) in accordance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act), 12 U.S.C. 5102 et seq., and its implementing regulations, 12 CFR Part 1007
• Satisfactory results on a criminal background check and a credit report check, and statements/certification from job applicant regarding administrative, civil, and/or criminal findings by any government agency/authority, are required by federal law for this position

Physical Requirements:

• Domestic Travel Occasional
• International Travel Never
• Performing sedentary work Continuous
• Performing multiple tasks Continuous
• Operating standard office equipment - Continuous
• Responding quickly to sounds Occasional
• Sitting Continuous
• Standing Occasional
• Walking Occasional
• Moving safely in confined spaces Occasional
• Lifting/Carrying (under 25 lbs.) Occasional
• Lifting/Carrying (over 25 lbs.) Never
• Squatting Occasional
• Bending Occasional
• Kneeling Never
• Crawling Never
• Climbing Never
• Reaching overhead Never
• Reaching forward Occasional
• Pushing Never
• Pulling Never
• Twisting Never
• Concentrating for long periods of time Continuous
• Applying common sense to deal with problems involving standardized situations Continuous
• Reading, writing and comprehending instructions Continuous
• Adding, subtracting, multiplying and dividing Continuous

The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties and skills required. The listed or specified responsibilities & duties are considered essential functions for ADA purposes.

Who We Are: TD is one of the world's leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day, we deliver legendary customer experiences to over 27 million households and businesses in Canada, the United States and around the world. More than 95,000 TD colleagues bring their skills, talent, and creativity to the Bank, those we serve, and the economies we support. We are guided by our vision to Be the Better Bank and our purpose to enrich the lives of our customers, communities and colleagues.

TD is deeply committed to being a leader in customer experience, that is why we believe that all colleagues, no matter where they work, are customer facing. As we build our business and deliver on our strategy, we are innovating to enhance the customer experience and build capabilities to shape the future of banking. Whether you've got years of banking experience or are just starting your career in financial services, we can help you realize your potential. Through regular leadership and development conversations to mentorship and training programs, we're here to support you towards your goals. As an organization, we keep growing and so will you.

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