Mortgage Loan Consultant at Fifth Third Bank

Wilmington, Ohio, United States

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Not SpecifiedCompensation

Junior (1 to 2 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, MortgageIndustries

Requirements

High school diploma or equivalent (mandatory); four-year college degree preferred
Demonstrated organizational skills
Strong written and verbal communication skills
Demonstrated teamwork and customer service skills
Ability to maintain intense optimism and focus on achieving goals under adversity
Proven computer skills
Basic sales technique skills
Strong desire to excel in a competitive environment
S.A.F.E. Act registration at the time of employment through the Nationwide Mortgage Licensing System (NMLS)

Responsibilities

Develop internal and external referral contacts (realtors, builders, professionals, COIs, and personal) with sales leadership and assigned Senior Loan Originator
Learn and master all aspects of the mortgage loan originator position, including agency and portfolio guidelines, processing, underwriting, closing, and pricing procedures
Maintain knowledge of Fifth Third Mortgage Company's policies, procedures, available loan products, processing procedures, underwriting, and general departmental guidelines
Complete all required training on time
Follow defined protocol for escalation of underwriting and pricing exceptions
Take applications by completing URLA on laptop
Utilize available technology for communication, access to daily rates, applicant credit reports, origination of loan files, and uploading files to operations
Collect appropriate documentation from applicants and deliver loan packages within management-set time frames
Manage pipeline for all originated loans through closing with sales leadership and assigned Senior Loan Originator
Communicate appropriately and timely with branches and/or applicants, providing updates and status reports
Maintain high levels of customer service while managing applicant and Fifth Third expectations
Attend and participate in all Mortgage and Consumer Lending sales meetings, calls, and training as required
Collect application fees on loan applications per policy
Participate in One Bank by making appropriate referrals to other lines of business
Assume overall responsibility for the residential mortgage loan from application to closing
Meet standards and objectives defined by management for mortgage loan sales and One Bank objectives
Be responsible and accountable for risk by exchanging ideas, elevating concerns, following policies and procedures, and managing risks within the Bank's risk appetite

Skills

Key technologies and capabilities for this role

Mortgage OriginationURLALoan ProcessingUnderwritingPricing ProceduresCredit ReportsReferral DevelopmentAgency GuidelinesPortfolio GuidelinesSales

Questions & Answers

Common questions about this position

What education is required for the Mortgage Loan Consultant position?

A high school diploma or equivalent is mandatory, with a four-year college degree preferred.

What key skills are needed for this role?

The role requires demonstrated organizational skills, strong written and verbal communication skills, and demonstrated teamwork and customer service skills.

Is this a remote position or does it require office work?

This information is not specified in the job description.

What is the salary or compensation for this job?

This information is not specified in the job description.

What does the company emphasize about its culture and employee responsibilities?

The company emphasizes accountability for risk management, doing the right thing for customers and colleagues, driving positive customer experiences, and openly exchanging ideas while following policies.

Fifth Third Bank

Provides banking, loans, and wealth management services

About Fifth Third Bank

Fifth Third Bank offers a variety of financial services, including personal and business banking, loans, mortgages, credit lines, and insurance products. Their services cater to individual consumers, small businesses, and commercial clients, providing comprehensive solutions for managing finances. The bank generates revenue through interest on loans, service fees, and commissions from insurance and investment products. Unlike many competitors, Fifth Third Bank emphasizes community engagement and financial education, providing resources to help clients improve their financial literacy. The goal of Fifth Third Bank is to support clients in achieving their financial objectives while fostering a strong connection with the communities they serve.

Cincinnati, OhioHeadquarters

1858Year Founded

IPOCompany Stage

Social Impact, Financial ServicesIndustries

10,001+Employees

Benefits

Health Insurance

Paid Sick Leave

Paid Holidays

Performance Bonus

Flexible Work Hours

Risks

Rising interest rates may decrease demand for loans and mortgages.

Competition from fintechs like Robinhood threatens Fifth Third's wealth management sector.

Sophisticated cybersecurity threats pose risks to customer data and trust.

Differentiation

Fifth Third Bank offers comprehensive financial solutions for individuals and businesses.

The bank emphasizes community engagement and financial education for client empowerment.

It provides a wide range of insurance products, including life, health, and disability.

Upsides

Increased demand for digital banking boosts Fifth Third Bank's online service offerings.

Partnerships with fintech enhance technological capabilities and customer experience.

Growing interest in sustainable finance attracts environmentally conscious customers.

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