Mortgage Loan Officer at Fifth Third Bank

Cincinnati, Ohio, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Mortgage, Financial ServicesIndustries

Requirements

High school diploma or equivalent (mandatory); four-year college degree preferred
At least 2 years of mortgage lending experience
Knowledge of conventional and/or government lending guidelines
Knowledge of residential mortgage processing, underwriting, and closing procedures
Knowledge of federal lending regulations governing real estate lending
Established book of local referral sources
Existing mortgage sales of $1 million per month
Strong organizational skills
Strong written and verbal communication skills
Demonstrated teamwork and customer service skills
Proven computer skills
Basic sales technique skills

Responsibilities

Develop referral contacts (realtors, builders, professional and personal contacts)
Maintain knowledge of Fifth Third Mortgage Company’s policies and procedures
Maintain knowledge of available loan products, processing procedures, and underwriting guidelines
Follow defined protocol for escalation exceptions
Take applicant applications by completing Fannie Mae form 1003 on the laptop
Utilize the laptop for communication and access of daily rates, applicant credit reports, Loan Prospector responses, and transmitting the loan to LOMAS
Collect appropriate documentation from each applicant and deliver loan package within defined timeframes
Manage pipeline for all originated loans through closing and complete required management reports
Communicate with branches and/or applicants, providing timely updates and progress reports
Maintain high levels of customer service while managing applicant and support staff expectations
Attend and participate in all Consumer Lending meetings as required by management

Skills

Key technologies and capabilities for this role

Mortgage OriginationFannie Mae 1003Loan ProspectorLOMASMortgage SalesReferral NetworkingLoan ProcessingUnderwriting GuidelinesFederal Lending RegulationsSales TechniquesCustomer ServiceOrganizational Skills

Questions & Answers

Common questions about this position

What is the salary for the Mortgage Loan Officer position?

This information is not specified in the job description.

Is this Mortgage Loan Officer role remote or office-based?

This information is not specified in the job description.

What skills and experience are required for this Mortgage Loan Officer role?

Candidates need at least 2 years of mortgage lending experience, an established book of local referral sources, existing mortgage sales of $1 million per month, strong organizational and communication skills, and knowledge of lending guidelines, processing procedures, and federal regulations.

What is the company culture like at Fifth Third Bank for this role?

The culture emphasizes responsibility, risk management, customer service, a positive customer experience, operating within the Bank's risk appetite, and consistently identifying and managing risks.

What makes a strong candidate for the Mortgage Loan Officer position?

A strong candidate will have at least 2 years of mortgage lending experience, an established book of local referral sources with $1 million monthly sales, a four-year degree preferred, and proven skills in organization, communication, teamwork, customer service, and sales techniques.

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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