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Mortgage Job Definitions, Titles for Mortgage Banking and Lending Personnel

Account Manager Term is used interchangeably with Account Executive and / or Loan Officer. Usually a commissioned position base + commission in some instances also may have a production bonus.   Search for this job.

Administrative Assistant  Support staff position, depending on the level of expertise, an Administrative Assistant with limited processing experience could be considered for an entry level processing or Junior Loan Processor position.  Salary Range: 20K - 45K   Search for this job.

Appraiser Handles the evaluation of property for loan amount ceilings. Requires formal training or an apprenticeship. Performing pre-funding appraisal reviews, Reconciling disparate value conclusions from multiple appraisals, Conducting post-funding audits, and offer guidance to field appraisers and loan personnel, Performing credit decisions and backside analysis of loans. Staff appraisers may make up to 80K, usually paid by property inspected or by the hourSearch for this job.

Business Development Officers tasks would include: Establishing and oversight of a defined customer base in order to ensure growth and profitability. Meeting and exceeding monthly sales objectives. Effectively implementing sales techniques and ensuring customer satisfaction. Completing and submitting accurate and timely daily and weekly reports.  Provide customers with the highest standard of customer service through follow up contact and consultation after the sales to protect and grow market share. Candidates for this positions should include: BS/BA Business Administration or related Marketing experience. 2+ years proven direct sales experience. Professional selling and account management skills desired. Understanding of communications industry. Computer skills preferred. Salary Range: 50K to 100+K  Search for this job.

Bulk Purchase Review Officer  Responsibilities include possible travel to review files for compliance and completeness for a pending purchase.  Should have strong background in underwriting, compliance and security instruments. Be fluent with spreadsheets and loan analysis  Salary Range: 42K to 80K   Search for this job.

Chief Executive Officer Operational position. Primarily handles the decision making for operational guidelines, plan, manage and direct the efforts for organizational goals and activities. Will manage staff to perform necessary organizational review, reporting and tracking. May also direct all systems development phases, including analysis, prototyping, development, acceptance testing and implementation. Involves interfacing with all MIS infrastructure groups. Salary Range: 75 K to 175K +  Search for this job.

Chief Financial Officer Usually a CPA with 10 to 15 years experience in Experience required: acquisition, due diligence, variable cost analysis, and strong systems background to handle all financial aspects and decision making in accordance with organizational goals. Salary Range: 75 K to 150K.  Search for this job.

Chief Lending Officers Responsible for minimizing the overall regulatory risk to the organization worked for. Usually an upper management position. Usually a commissioned position base + commission in some instances.  Search for this job.

Chief Vision Officer  Responsible for the company focus, direction and implementation of strategic plan.  Salary Range: 75 K to 150K  Search for this job.

Chief Operating Officer   Typically responsible for over seeing day-to-day operations.  Usually the liaison between the operating staff and the executive staff. Salary Range: 75 K to 100K   Search for this job.

Claims Representatives Claims Representatives in a mortgage banking setting would initiate and assign claims to Claim Adjusters under time constraints for perhaps home owner claims against loss of use of property, etc. Salary Range: 18K - 45K  Search for this job.

Commercial Loan Processors Basic knowledge of mortgage documents; review of all underwriting stipulations and acquiring of all requested documentation, clearing stipulations, and responsible for the final presentation of loan package back to underwriter for final decision on loan. Salary Range: 16K - 45K  Search for this job.

Commercial Loan Originator  Responsible for developing loan sources for commercial lending.  Must be able to review clients request for funding, review cash flows and determine if loan matches loan product available.  Usually a commissioned position base + commission in some instancesSalary Range: 35K - 75K   Search for this job.

Commercial Originator Analysts Responsible for developing and maintaining of company underwriting guidelines for commercial loans accepted. Implements changes into existing loan program. Usually a commissioned position base + commission in some instancesSalary Range: 25K - 65K  Search for this job.

Commercial Underwriters Reviews loan packages from originators on the viability of loans presented. Determines whether a loan is workable or not. Responsible for either accepting or declining to fund a loan package per company guidelines. Determines debt ratios, and works up conditions for loan acceptance. Works hand in hand with loan processors Salary Range: 35K to 55K   Search for this job.

Compliance Officers Responsible for the analysis of loans funded. May take a cross section of loans funded and performs quality control checks to ensure proper procedures are met in accordance to guidelines set guidelines for loan type. Salary Range: 35K to 55K   Search for this job.

Construction Loan Officers Responsible for identifying and then acquiring new construction loan business. Responsible for the acquiring of all necessary documentation to fund a loan and works hand in hand with processor to clear up underwriting stipulations Needs knowledge of loan budgets, plans, specs, and cost breakdowns. Usually a commissioned position base + commission in some instancesSearch for this job.

Construction Loan Processors Same as Commercial Loan Processor with knowledge of construction stipulations. Basic knowledge of mortgage documents; review of all underwriting stipulations and acquiring of all requested documentation, clearing stipulations, and responsible for the final presentation of loan package back to underwriter for final decision on loan. Needs knowledge of loan budgets, plans, specs, and cost breakdowns. Salary Range: 16K - 45K  Search for this job.

Corporate Lending Officers Responsible for identifying and then acquiring new loan business. Responsible for the acquiring of all necessary documentation to fund a loan and works hand in hand with processor to clear up underwriting stipulations. Usually a commissioned position base + commission in some instances.   Search for this job.

Credit Analysts Term used interchangeably with underwriter. Reviews loan packages from originators on the viability of loans presented. Determines whether a loan is workable or not. Responsible for either accepting or declining to fund a loan package per company guidelines. Determines debt ratios, and works up conditions for loan acceptance. Works hand in hand with loan processors. Salary Range: 35K to 55K  Search for this job.

Credit Review Officers Term used interchangeably with underwriter. Reviews loan packages from originators on the viability of loans presented. Determines whether a loan is workable or not. Responsible for either accepting or declining to fund a loan package per company guidelines. Determines debt ratios, and works up conditions for loan acceptance. Works hand in hand with loan processors. Salary Range: 35K to 55K  Search for this job.

Discount Mortgage Specialist   This position is a rare one, but if you have a strong background in purchasing existing mortgage (paper) at discount, there may be an opportunity for you.  The ability to locate, review documentation and underwrite purchase of discounted notes usually purchased from individuals of builders.    Search for this job.

Director of Business Development Develop and implement loan production campaigns. Requires 5-7 years mortgage industry experience including multi-unit retail marketing and over 5 years in sales. Should be well versed in mortgage industry products and the origination process. Excellent presentation and written/verbal communication skills are essential. Salary Range: 35K to 55K   Search for this job.

Director of Business Operations Manage national affinity marketing and assist in generating new business. Requires 5-10 years mortgage origination experience including contract writing. Should be familiar with financial analysis and skilled in fostering business relationships. Excellent presentation, interpersonal and persuasive written/verbal communication skills are essential. Background in financial services marketing or direct sales to corporate accounts is highly desirable. Salary Range: 45K to 75K   Search for this job.

Document Processors Term used interchangeably with Loan Processor Same as Commercial Loan Processor with knowledge of construction stipulations Basic knowledge of mortgage documents; review of all underwriting stipulations and acquiring of all requested documentation, clearing stipulations, and responsible for the final presentation of loan package back to underwriter for final decision on loan. Salary Range: 16K - 45K   Search for this job.

Due Diligence Auditors Same as a Compliance Officer. Usually a person with a strong underwriting background and in many companies, a due diligence auditor is responsible for taking a bulk purchase and reviewing the portfolio for compliance on stipulations. Reviews whether loans closed were done so according to guidelines set out for specific loan type. Salary Range: 35K to 55K  Search for this job.

Escrow Officers Responsible for the handling of Moines held in escrow for required payments according to loan type. Assures timely payment of escrow funds and tracks said payments and reports on such Salary Range: 30K to 55K  Search for this job.

Financial Analysts Term interchangeable with Credit Analyst or Underwriter Reviews loan packages from originators on the viability of loans presented. Determines whether a loan is workable or not. Responsible for either accepting or declining to fund a loan package per company guidelines. Determines debt ratios, and works up conditions for loan acceptance. Works hand in hand with loan processors. Salary Range: 35K to 85K  Search for this job.

Foreclosure Officers Responsible for the determination of loans scheduled for foreclosure based on company guidelines. May also be required to perform document preparation for foreclosure filing. Salary Range: 18K to 35K   Search for this job.

Government Loan Processors Same as Commercial Loan Processor with knowledge of construction stipulations. Basic knowledge of mortgage documents; review of all underwriting stipulations and acquiring of all requested documentation, clearing stipulations, and responsible for the final presentation of loan package back to underwriter for final decision on loan, has extensive knowledge of FHA / VA & FHLMC guidelines. Salary Range: 21K - 45K   Search for this job.

Loan Auditors Same as Commercial Loan Processor with knowledge of construction stipulations. Basic knowledge of mortgage documents; review of all underwriting stipulations and acquiring of all requested documentation, clearing stipulations, and responsible for the final presentation of loan package back to underwriter for final decision on loan. Salary Range: 18K - 45K   Search for this job.

Loan Account Executive Support staff position for handling customer inquiries on their loans.  Responsibilities include generating new  accounts, as well as maintaining and servicing existing accounts. Travel may be required and will determine the success of this job. The ideal candidate has a college degree in Finance or Business. Experience of 3 - 4 years within the mortgage/lending industry is preferred. A sales background is a plus. Usually a commissioned position base + commission in some instancesSearch for this job.

Loan Broker  Loan Brokers are typically independent.  Some smaller companies will reference their openings for "Loan Broker"  Usually a commissioned position. Base + commission in some instances.    Search for this job.     

Loan Closers May actually close loan files and disburse fund or assist.. Responsible for the creation of closing documents required for loan type and for legal loan recording. May have paralegal training and may also perform loan funding responsibilities. Salary Range: 18K - 35K   Search for this job.

Loan Funders Responsible for the proper disbursement of loan funds, may perform document preparation for loan recording, Mortgage Funder. Salary Range: 18K - 30K   Search for this job.

Loan Officer (Commercial Real Estate) Responsible for identifying and then acquiring new loan business. Responsible for the acquiring of all necessary documentation to fund a loan and works hand in hand with processor to clear up underwriting stipulations. Usually a commissioned position base + commission in some instances   Search for this job.

Senior Loan Officer Responsible for identifying and then acquiring new business. Responsible for the acquiring of all necessary documentation to fund a loan and works hand in hand with processor to clear up underwriting stipulations. Usually a commissioned position base + commission in some instances  Search for this job.

Loan Clerks Support staff position. Responsible for customer inquiries and may be responsible for the proper posting of loan payments, may be also known as Loan Set Up, ensures all necessary documentation is received from customer to turn over to underwriter for review. Salary Range: 16K - 28K   Search for this job.

Loan Originator (Commercial & Multi-Family) Responsible for identifying and then acquiring new loan business. Responsible for the acquiring of all necessary documentation to fund a loan and works hand in hand with processor to clear up underwriting stipulations Have knowledge in identifying viable commercial and multifamily loan proposals and loans. Usually a commissioned position base + commission in some instances    Search for this job.

Loan Processors Same as Document Processor Basic knowledge of mortgage documents; review of all underwriting stipulations and acquiring of all requested documentation, clearing stipulations, and responsible for the final presentation of loan package back to underwriter for final decision on loan. Salary Range: 16K - 45K   Search for this job.

Loan Service Counselors Interchangeable with Loan Processor or Loan Originator. Basic knowledge of mortgage documents; review of all underwriting stipulations and acquiring of all requested documentation, clearing stipulations, and responsible for the final presentation of loan package back to underwriter for final decision on loan. Salary Range: 16K - 45K   Search for this job.

Loan Service Managers Supervisory position Responsible for the proper maintenance of loan portfolio. May run a call center where customers call into with inquiries… May also be responsible for the application of escrow funds for taxes, insurance, etc. in accordance to loan type. Salary Range: 27K - 65K  Search for this job.

Mortgage Banking Manager Responsible for the day to day operations of a mortgage banking department from the implementation of underwriting guidelines to the delivery of the loan package, interchangeable term with Operations Manager. Salary Range: 30K - 60K  Search for this job.  

Mortgage Banking Vice Presidents Depending on division overseen, VPs handle operational guideline approval for organization, implement the application of guidelines, and supervise personnel. Salary Range: 50K - 95K  Search for this job.

Mortgage Department Managers Responsibilities would include providing customer service assistance to branch offices and customers, researching/resolving mortgage questions associated with the related branch or production area and communicating responses verbally and in writing to all interested parties. Position requirements should be 2-5 yrs mort banking experience with an emphasis in loan origination and some loan servicing experience. Excellent customer service skills relating directly with customer required. Must have excellent analytical, written and verbal communication . Salary Range: 30K - 65K   Search for this job.

Mortgage Funder Review loan documents to comply with federal, state and investor regulations, maintain accurate records for quality control, work with closing agents and mortgage personnel to collect and satisfy outstanding conditions to fund loans timely. Coordinate wire transfers and authorize funds. high school diploma, ability to work in a fast paced environment, an understanding of title issues and insurance requirements 1 year of mortgage experience knowledge of federal compliance required like RESPA Truth-In-Lending, Salary Range: 18K - 35K   Search for this job.

Mortgage Satisfaction Specialist Handles all aspects of releasing mortgage lien holder from paid off loans. Responsibilities include researching recorded documents to assess whether pay off has been achieved. May require a min of 6 months mortgage banking experience or may be entry level. Salary Range: 17K - 45K   Search for this job.

Mortgage Originator Responsible for identifying and then acquiring new loan business. Responsible for the acquiring of all necessary documentation to fund a loan and works hand in hand with processor to clear up underwriting stipulations. Usually a commissioned position base + commission in some instances  Search for this job.

Mortgage Processing Clerk Same as Document Processor. Basic knowledge of mortgage documents; review of all underwriting stipulations and acquiring of all requested documentation, clearing stipulations, and responsible for the final presentation of loan package back to underwriter for final decision on loan. Salary Range: 16K - 45K    Search for this job.

Mortgage Processor Same as Document Processor Basic knowledge of mortgage documents; review of all underwriting stipulations and acquiring of all requested documentation, clearing stipulations, and responsible for the final presentation of loan package back to underwriter for final decision on loan. Salary Range: 18K - 45K    Search for this job.

Operations Managers Responsible for the day to day operations of a mortgage banking department from the implementation of underwriting guidelines to the delivery of the loan package, interchangeable term with Mortgage Banking Manager. Salary Range: 50K - 70K   Search for this job.

Operations Trainer assist with the development, implementation and training of Consumer Markets personnel. Involves providing operational and technical training, developing training materials and keeping them up to date. Will set-up and prepare materials for training classes, as well as work with other Consumer Markets areas and assist with special projects as needed. Requires 3-5 years experience in loan processing, underwriting or closing. Must be well versed in closing conventional and government loans. Excellent organizational and written/verbal communication skills are essential. BA/BS in Human Resource Management or HR Psychology is preferred. Salary Range: 35K - 45K    Search for this job.

Mortgage Transfer Analyst Responsible for the proper wiring of funds to brokers for mortgage acquisition purchases; provides and tracks all reporting concerning transfers… may require 3- 5 yrs experience in a mortgage banking setting as a loan processor. Salary Range: 28K - 35K   Search for this job.

Loan Underwriters Reviews loan packages from originators on the viability of loans presented. Determines whether a loan is workable or not. Responsible for either accepting or declining to fund a loan package per company guidelines. Determines debt ratios, and works up conditions for loan acceptance. Works hand in hand with loan processors. Salary Range: 38K - 85K   Search for this job.

Loan Shipper  Process all high volume loan documentation for shipment directly to customers. Function of the Department: To successfully manage loan portfolio to maximize profits from processing high volume of loans. Knowledge and Experience: Knowledge of the mortgage lending environment, escrow and loan shipment procedures and standard operating procedures for loan shipment directly to customers. Salary Range: 28K - 35K    Search for this job.

Quality Control Underwriters Same as a compliance officer and due diligence Usually a person with a strong underwriting background and in many companies, a due diligence auditor is responsible for taking a bulk purchase and reviewing the portfolio for compliance on stipulations. Reviews whether loans closed were done so according to guidelines set out for specific loan type Salary Range: 45K - 75K

Real Estate Loan Managers Same as Originator or Loan Officer. Responsible for identifying and then acquiring new loan business. Responsible for the acquiring of all necessary documentation to fund a loan and works hand in hand with processor to clear up underwriting stipulations. Salary Range: 30K - 65K   Search for this job.

Lending Company Receptionist   Support staff position. Person who answers phones and redirects calls to appropriate personnel… Should have some general knowledge of basic mortgage terminology and performs other duties as assigned. Salary Range: 15K - 26K   Search for this job.

Regional Loan Manager Responsible for representing lending goals in assigned region. Interfacing with customers and branches, sales presentations, call on prospective customers, provide branch training and facilitate loan funding. Requires mortgage banking and construction lending experience as well as background in training and motivation techniques. Excellent sales, presentation and organizational skills are essential are also required. Usually a commissioned position base + commission in some instances    Search for this job.

Secondary Market Analysts Determines market condition for competitive pricing indices for loan funding and purchase. Salary Range: 38K - 65K    Search for this job.

Secondary Market Pricing Manager Sets pricing guidelines for bulk acquisitions for loan portfolio according to organizational guidelines and portfolio class ( A - D paper), implements point guide and distributes to underwriting staff for direct implementation Salary Range: 42K - 65K    Search for this job.

Senior Mortgage Underwriter Reviews loan packages from originators on the viability of loans presented. Determines whether a loan is workable or not. Responsible for either accepting or declining to fund a loan package per company guidelines. Determines debt ratios, and works up conditions for loan acceptance. Works hand in hand with loan processors; may serve as supervisor to subordinate underwriters in reviewing their work. Salary Range: 50K - 85K    Search for this job.

Senior Reporting Analyst  Mortgage Lending provide research/analysis on operations and customer satisfaction surveys and assist with special projects as needed. Involves preparing reports and reporting data to operations and management. Will participate in report development, design and implementation. Requires a degree in Computer Science, Marketing, Math, Statistics, Business or related field and 2+ years experience in a financial environment working with QA and customer satisfaction surveys. Salary Range: 42K - 65K   Search for this job.

Warehouse Lines Manager or Supervisor.  Sometimes is also the Secondary Market Analyst and if not works with that position to manage credit facilities and associated costs and risks.  Involves preparing reports and reporting data to operations and management. Salary Range: 40K - 65K   Search for this job.

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