The Mortgage Banker will administer the consumer mortgage banking function, including both portfolio and secondary market originations, while also producing mortgage loans individually. The position will be responsible for primary and secondary residence loans (term, balloons and ARMs), lot loans and term home equity loans. Home equity lines of credit (HELOCs) will primarily be managed by the SVP-Consumer Services; however, the Mortgage Banker will certainly be actively engaged in that product, as well.
It will be critical for the Mortgage Banker to develop strong working relationships with retail branches and business development officers (BDOs) who serve as referral sources, as well as the underwriter, operations team and secondary market investors to meet service expectations of the customers and production goals of the bank.
Establish annual production goals for the department and individual mortgage loan officers (MLOs) that align with the bank’s strategic and financial plans
Ensure the department has the personnel, products, pricing and resources to meet customer needs and production goals
Manage portfolio and secondary market originations
Supervise and motivate all mortgage department staff, including MLOs
Promote loan production through individual production, example, encouragement and education of MLOs
Identify banking needs of customers and prospects, recommend appropriate products/services and gather necessary financial information for analysis
Seek opportunities to expand relationships by recommending other bank products and services and making referrals as appropriate
Approve or decline loans within established credit limits, establish appropriate interest rates based on pricing guidelines
Approve exceptions as authorized by policy
Identify and manage secondary market investors
Ensure compliance with all state and federal laws/regulations in partnership with the Compliance Department
Evaluate market conditions and competitive products/pricing routinely in order to make recommendations to Management ALCO, as necessary
Seek business opportunities through realtor and referral relationship marketing
Chair the Mortgage Process Improvement Team (MPIT)
Represent the bank in civic and professional associations in the local community
Comply with the provisions of the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE ACT) with regards to MLO registration on the Nationwide Mortgage Licensing and Registry (NMLS)
Maintain current knowledge of laws, regulations, and banking industry changes for compliance
Bank Secrecy Act – (BSA)
Information Security & Red Flags
Military Lending Act (MLA)
OFAC – Office of Foreign Assets Control
Regulation B – Equal Credit Opportunity
Regulation BB – Community Reinvestment Act (CRA)
Regulation C – Home Mortgage Disclosure Act
Regulation H – Loans in Special Flood Hazard Areas
The position requires effective written and verbal communication for both internal and external customers
Professional communication via phone, text, email, letter and in-person will be required to serve the customer and represent the bank publicly
Directly supervise all employees within the mortgage department
College degree in Business Administration/Finance or a minimum of ten (10) years mortgage banking experience
Portfolio lending experience is strongly preferred
Experience in managing secondary market investors is strongly preferred
Working knowledge of loan origination software, such as Calyx
Strong understanding of consumer compliance laws and regulations
Interpersonal skills to generate new and strengthen existing customer relationships
Ability to effectively manage a sales and service department
Job requirements and management of customer relationships will dictate time schedules. Business development, MLO support, operations coordination and civic engagement will require time outside of the office. Vehicle transportation is essential for the performance of these duties as well as to properly service existing relationships.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed under the knowledge/skills section are representative of the knowledge, skill set, and/or ability required. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.
Additional Salary Information: This position will be paid a base salary plus commissions.
About First Bank
First National Corporation, headquartered in Strasburg, Virginia, is the bank holding company of First Bank that first opened for business in 1907. First Bank offers loan, deposit, and trust products and services from 16 office locations located throughout the northern Shenandoah Valley region of Virginia and parts of central Virginia. Banking services are also accessed from the Bank’s website, www.fbvirginia.com, mobile banking, and from a network of ATMs located throughout its market area.