The Private Banking (PB) Mortgage Loan Officer (MLO) is responsible for covering retail bank branches and the Private Banking High Net Worth clients as directed. The PB MLO is the point of contact assisting clients on the origination of residential mortgage loans, which includes providing analysis and advice to the High Net Worth clients and/or prospects on mortgage solutions to meet their needs and financial objectives. The PB LO is expected to spend at least a portion of their day in each one of their assigned branches each week. On non-branch days, the PB LO is expected to spend a portion of their day on location with their Private Bank partners. The PB MLO is expected to perform joint efforts with branch and/or private banking partners on increasing the mortgage opportunities within their existing client base, except as necessary to accommodate work commitments outside of the branch or outside of regular banking hours, which may necessitate a flexible work schedule. Any outside networking with outside referral sources should be handled in conjunction with the assigned branch partners and private banking relationship managers. The Private Banking MLO is expected to collaborate with the third party fulfillment company to meet the needs of our customers from the point of registration to closing. The Private Banking LO is expected to meet or exceed established sales, cross-sell, home equity and referral goals congruently with maintaining high standards of client satisfaction and quality. This position is expected to manage client referrals and cross sell opportunities ensuring all new customers are introduced to local Branch or Private Banking Relationship Managers. The Private Banking LO should maintain sales/originator systems and efficient work flows.
Essential Job Functions:
The role of the PB LO is to originate and process 1-4 family residential real estate mortgage in accordance with Key Bank Mortgage’s process and product guidelines. The PB LO is responsible for gathering documents at the time of registering a loan and is expected to remain, along with the loan processor, the point of contact for the customer during the duration of the loan. This person is to maintain high standards of client satisfaction and quality, ensure sales/originator systems and work flows are efficiently controlled. The PB LO also is responsible for managing client referrals and the cross sell process ensuring all new customers are introduced to local Branch and Private Banking Relationship Managers. The PB LO is responsible for knowing all Federal Regulations and bank policies/procedures. As needed and in partnership with all bank partners, the PB LO is expected to help with joint calls with potential clients to develop new business both in person and over the phone. The PB LO is to keep informed of trends and developments in the real estate market and mortgage industry. In addition, the PB LO is to develop and maintain in-depth knowledge of products and services as well as knowledge of competitors and competitive products.
- Meet with clients for mortgage opportunities as scheduled
- Interact with all branch personnel
- Interact with customer traffic. Make introductions and pass out business cards
- Review Book of Business client profiles with retail partners to uncover mortgage opportunities
- Discuss any cross sell opportunities discovered by LO
- Review mortgage pipeline with Branch Manager and/or delegate, as directed by Branch Manager
- For LOs who also call on Private Banking, a pipeline review should be held with PB RMs
- Expedite loans in process by regularly reviewing pipeline, following up on documentation with borrowers, interacting with title companies, realtors, attorneys, etc.
- Make outbound calls and engage in electronic communications to centers of influence (COI) for business development
Key at Work Calls: Make at least one Key at Work call with retail partners rotating among assigned branches.
Huddle Meetings: Attend at least one Huddle meeting per assigned Branch and present mortgage topic.
Reviews: Meet with Branch Manager to review mortgage production to goal results. Discuss and gain commitment on activities for success based on the annual mortgage production goal; what it will take to achieve; how many referrals are needed for each application, how many applications are needed for each closing. For LOs that also call on Private Banking, monthly production reviews should also be held with PB RMs.
Mortgage Day: Conduct one Mortgage Day each month, rotating among assigned Branches. Schedule two weeks in advance for event promotion by attending a huddle meeting to announce date and discuss event and providing flyers to Branch for event promotion. Determine snacks to be provided if applicable.
One on One: Meet with mortgage Sales Manager to review production results to goal and sales activities
- At least one (1) yearexperience working with high net worth clients
- Proven ability to effectively manage high net worth client relationships
- Bachelor’s degree in business related field or equivalent experience.
- Possesses advanced technical knowledge and understanding of business tax returns, trusts, LLCs, and other asset protection tools used by high net worth clients
- A working knowledge of FNMA, FHLMC, FHA, VA, TIL regulations, Equal Credit Opportunity Act, RESPA regulations, local and state real estate and financelaws
- Excellent verbal and written communication skills and ability to work in a team environment
- Demonstrated strong customer service skills
- Proficient in sales and service skills; including tele-consulting, prospecting, networking and COI relationship management.
- Strong financial acumen
- Five (5) years experience as a loan officer in 1st mortgage production