Job Description
Work Location: Providence, Rhode Island, United States of America Hours: 40 Pay Details: $16.00 - $16.00 USD TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs. As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role. Line of Business: Personal & Commercial Banking Job Description: The Mortgage Loan Officer sells and originates residential mortgage loans to sales goals. The Mortgage Loan Officer takes residential mortgage loan applications and offers or negotiates terms of residential mortgage loans. Pay Range- $11.54 per hour depending on established local minimum wage plus commission. Depth & Scope: Meets with Prospects identified directly as well as referred by realtors, developers, attorneys and other external and internal referral sources Explains variety of mortgage products and services available and offers recommendations based on evaluation of individual prospect needs Guides Customers through the mortgage application process Explains information required and other aspects of the loan process to Customers Ensures applications are completed accurately and contain required information and supporting documentation Manages Customers expectations regarding processing times and closing dates Sells and originates residential mortgage loans according to established policies and procedures and applicable legal and regulatory guidelines Generates referrals for mortgage sales opportunities and sales of other Company business line products Develops plan to achieve sales goals with assistance from sales management 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 Underwrites loans using point-of-sale underwriting systems within scope of authority Communicates loan decisions directly to Customers and explains any additional information needed Submits application materials and other required information to processing area to clear any conditions, finalizes the loan commitment, and prepares for closing Communicates regularly with Customers, underwriters, processors, realtors, closing agents and others to ensure application process proceeds as planned Attends closings as needed Develops knowledge of current industry practices and trends by learning from more experienced sales personnel and by attending continuing education training and seminars, including but not limited to the full array of Company products and services as well as mortgage laws and regulations Develops knowledge of policies, procedures, rules and regulations related to retail mortgage products Participates in homebuyers' seminars, home shows, brokers' meetings and other home financing workshops Recommends changes to products, programs and/or pricing Ensures TD Bank maintains successful audits and exams within all areas Deals with complex mortgage needs Education & Experience: Bachelors degree or progressive work experience in addition to experience below 2+ Years of mortgage origination experience Proven Sales ability Developing knowledge of mortgage industry, products, lending practices and regulatory guidelines Maintains the highest level of sales ability and negotiation skills Self-directed, ability to plan own activities to achieve sales goals Strong time management skills Excellent communication skills, both verbal and written PC skills, including ability to learn mortgage origination and automated underwriting systems 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