Mortgage Loan Associate Job Description

Updated on: January 13, 2018

Position Overview

A mortgage loan associate is the first person that you meet when you apply for a mortgage loan.

They are responsible for making sure that clients’ loans are applied and filed properly.

The main reason a mortgage loan associate is hired is to service existing clients, and develop new ones for the bank or company that he or she is representing.

Position Requirements

Working as a mortgage loan associate requires a high school diploma or a GED equivalent, or in some cases, an associate’s degree.

If this is the work that you want to do, you will have to be an expert in customer service management, as you will be required to implement strategies and techniques used to ensure that clients have a positive experience with the loan provider.

In addition to this, it is imperative that your communication skills are excellent so that you can provide information and insight into the loan product that you are selling.

Also, working as a mortgage loan associate means that you will need to possess critical thinking skills, and great decision making abilities, along with exceptional matrix management, as you will building effective working relationships with many people, externally, and internally.

To see what duties you will be required to perform in the role of a mortgage loan associate, have a look at the following list:

Mortgage Loan Associate Duties & Responsibilities

• Call new and existing customers to provide them with information on the company’s mortgage moan products.

• Source and develop loans for existing and new clients, based on their requirements, and abilities to pay back.

• Assist in the appropriate pricing of new loan originations and fee income, to maximize bank profitability.

• Work with loan teams to ensure that all documentation for each loan is completed and filed properly.

• Negotiate terms based on risk considerations, and present credits for approval to the assigned authorities.

• Complete credit checks and investigation on each loan application, and assume responsibility for collecting payments in a timely fashion.

• Prospect new mortgage lending opportunities by meeting with prospective clients, and leading them through various stages of the process.

• Provide complete loan applications to clients, and ensure that all their paperwork is properly carried out.

• Oversee loan applications, and provide approvals within specified time limits.

• Analyze clients’ financial statuses, and manage property evaluations to determine if it is feasible to grant loans.

• Review credit and loan files, and check loan agreements to ensure that they are complete and accurate.