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Correspondent Mortgage Loan Officer (CMLO)

Department: Retail Lending
Reports to: Senior Retail Banker/Retail Department Manager
Supervises: None
Status: Non-Exempt (Salary plus commission)
Location(s): Sanford, Maine

Summary:
Originates correspondent loans in accordance with established policies and procedures and all applicable regulatory requirements.  Provides exceptional responsiveness and lending knowledge to the correspondent lender and borrower as needed.  Actively promotes the Bank with other lenders and builds new correspondent relationships. Provides assistance and backup to Retail Lending when necessary.

Job Requirements:

  • Minimum of 3 years of residential lending and sales experience.
  • Knowledge of traditional, secondary market and portfolio mortgage products, policies, and procedures.
  • Strong sales, organizational and interpersonal skills.
  • Excellent written and verbal communication skills.

Specific Job Functions:

  • Initiates regular contact with existing correspondent lenders to increase lending opportunities for Partners Bank and the correspondent.
  • Informs prospective correspondent partners of the Bank’s underwriting guidelines and applicable government regulations.
  • Proactively seeks new correspondent relationships.
  • Submits accurate and complete loan files with all appropriate supporting documentation in conformance with the Bank’s policies and procedures, and with all applicable regulatory requirements.
  • Reviews scenario requests to determine whether they meet the Bank’s guidelines; communicates decision to the correspondent lender.
  • Provides oversight and assistance to other Loan Officers who take correspondent loan applications as needed.
  • Uses the applicable technology to accurately enter loan applications and manage the loan file from origination to closing.
  • Maintains contact with correspondent lenders, borrowers, brokers, and others involved with a loan application at least weekly or more often as needed.
  • Works closely with assigned Processor managing loan pipeline to ensure loan closing commitments are met.
  • Participates in various associations or events to build relationships with lenders.
  • Cross-sells or refers additional lending, deposit or investment products when appropriate.

This Job Description describes the essential functions and qualifications of the job described. It is not an exhaustive statement of all the duties, responsibilities or qualifications of the job. This document is not intended to exclude modifications consistent with providing reasonable accommodations for a disability. This is not a contract.

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