Mortgage Loan Officer Job Description

By | May 30, 2011

Mortgage loan officer profile and description

A mortgage loan officer helps people to obtain loans on mortgage of property. They are employed by banks and other financial institutions to generate leads in the business and help companies and individuals avail loan facility.

Mortgage loan officer duties and responsibilities

The duties and responsibilities of a mortgage loan officer are:

  • Contacting and developing interpersonal relationships with prospective clients like businessmen and individuals
  • Marketing the offers and policies of bank regarding mortgage in order to attract more client base
  • Following up with paperwork and preparations of documents for customers who require loan
  • Conduct evaluation of borrower and his financial status
  • Performing valuation of property
  • Communicating with customers to ascertain their requirements and repayment capacity
  • Explaining the mortgaging procedures and repayment methods to customers
  • Keeping in touch with customers to ensure that the loan is repaid in time
  • Keeping targets in sight and working towards meeting those targets
  • Generate leads in the local area through existing customers

Mortgage loan officer skills and specifications

The skills and specifications of a mortgage loan officer are:

  • A thorough understanding about the mortgage laws of the state
  • A thorough understanding about the mortgaging and repayment procedure
  • A sound knowledge about finance, economics and accounting
  • Excellent communication skills
  • Good interpersonal skills
  • Ability to grasp the requirements of the client
  • Ability to generate new clients and expand the client base of the financial institution
  • Ability to understand the trends of the market
  • Good computer application skills

Mortgage loan officer education and qualification

The education and qualifications required for the job of a mortgage loans officer are:

  • A diploma or certification course in finance and accounting

Mortgage loan officers salary

The salary of a mortgage loan office ranges between $37,000 to $57,000 per year.