Mortgage Bank Job Description

By | July 28, 2011

Mortgage bank job profile and description

Mortgage bank jobs are about processing the mortgage formalities of clients. Mortgage bankers interact with clients, find out their financial history, check credit reports, evaluate whether clients are eligible for mortgage and all such aspects related to mortgaging.

Mortgage bank job duties and responsibilities

The duties and responsibilities of a mortgage bank job are:

  • Evaluating clients’ request for mortgage
  • Helping clients evaluate their mortgaging requirements
  • Explaining different rules and regulations related to mortgaging
  • Studying the bank statements of the client and evaluating eligibility for mortgage
  • Preparing documents required for mortgage
  • Evaluating the worth of the property to be mortgaged
  • Discussing terns and conditions of the mortgage with clients and negotiating the deal such that It is favorable both to customers and the bank
  • Acquiring more clients for the bank
  • Follow state rules regarding loans and mortgage
  • Ensure that clients pay installments in accordance to terms and conditions mentioned in the mortgage contract
  • In case a client cannot repay loan, proceeding with auction of the property
  • Provide good service to customers
  • Maintain records for each client and update records regularly
  • Make reports to manager regarding proceedings of mortgage department

Mortgage bank job skills and specifications

The skills and specifications of a mortgage bank job are:

  • Excellent communication, negotiation skills and ability to convince people
  • Excellent knowledge about mortgage laws and regulations
  • Excellent investigation, observation and analytical abilities
  • Good mathematical and accounting ability
  • Excellent interpersonal skills
  • Ability to keep in touch with customers and retain clients for the bank

Mortgage bank job education and qualification

The education and qualification of a mortgage bank job are:

  • Bachelor’ degree in accounting and finance or business administration

Mortgage bank job salary

The salary of a mortgage bank manager is between $50,000 and $75,000 per annum.