Mortgage Originator at M&T Bank

Ithaca, New York, United States

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Not SpecifiedCompensation

Junior (1 to 2 years), Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Mortgage, Financial ServicesIndustries

Requirements

Associates degree and 2 years sales experience, OR in lieu of a degree, a combined minimum of 4 years higher education and/or relevant work experience, including a minimum of 2 years sales experience
Thorough knowledge of FHA/VA regulations, conventional loan requirements and real estate law
General knowledge of personal computers and software programs utilized by Residential Mortgage Department (preferred)
Proven sales ability (preferred)
Strong mathematical skills (preferred)
Self-motivated, well-organized individual (preferred)
Excellent verbal and written communication skills (preferred)
Ability to interact with individuals at all income levels and peers in a professional manner (preferred)
Demonstrated ability to work independently and to follow through on details to completion (preferred)
Ability to work under critical time constraints (preferred)
Responsibility to establish and maintain federal registration requirements outlined in the SAFE Act

Responsibilities

Interviews applicants to collect and analyze information regarding their income, assets, debts and credit data as well as their needs, desires, and earnings to assist in determining whether the loan will be an acceptable risk; obtains and analyzes pertinent financial and credit data
Independently assesses applicant’s credit worthiness. Has authority to issue pre-qualification statement of borrowers’ eligibility
Determines which products best meet the customer’s needs and financial circumstances and advises potential borrowers regarding the advantages and disadvantages of different financial products and the most appropriate mortgage loan programs
Makes recommendations to customers regarding other bank products or to alternative lending vehicles, as needed
Cultivates new mortgage business. Markets, services and promotes the bank’s mortgage products. This includes the solicitation of residential first mortgages through contacts with Realtors, builders, and developers
May be required to travel to and work at prospective customers’ homes or business locations. Follows-up on potential customers via travel or telephone
Negotiates terms and conditions of loan with mortgagors. Has authority to bind the bank in connection therewith
Ensures lending compliance with all origination procedures including bank policies and procedures and regulatory requirements
Advises management on effective compliance strategies and potential modifications to corporate operating policies where appropriate to ensure ongoing regulatory compliance
Independently monitors trends and developments in the local real estate market, as well as the changing rules and regulations pertaining to both private and government-insured mortgages
Represents the bank in the community and related functions to identify, develop and promote additional business. May present seminars to general public and real estate agents to promote additional business and community outreach

Skills

Key technologies and capabilities for this role

FHA LoansVA LoansMortgage OriginationCredit AnalysisLoan Pre-QualificationRegulatory ComplianceSAFE ActCustomer InterviewingFinancial AnalysisLoan NegotiationMortgage Marketing

Questions & Answers

Common questions about this position

What education and experience are required for the Mortgage Originator role?

An Associate's degree and 2 years of experience are required.

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

The role involves working under limited supervision, sometimes away from the office, with extensive external contacts and potential travel to customers' homes or business locations, indicating it is not fully remote.

What salary or compensation does the Mortgage Originator position offer?

This information is not specified in the job description.

What does the work environment and team structure look like for this role?

The position involves working under limited supervision with extensive external contacts like customers and Realtors, as well as internal contacts with bank personnel, primarily on sales calls outside the office, and interacting with individuals and teams in the community.

What makes a strong candidate for the Mortgage Originator position?

Strong candidates should have an Associate's degree with 2 years of experience, skills in assessing creditworthiness, negotiating loan terms, marketing mortgage products to Realtors and builders, and maintaining SAFE Act registration.

M&T Bank

Full-service banking for individuals and businesses

About M&T Bank

M&T Bank provides a variety of banking services to individuals, small businesses, and larger companies. Their offerings include mortgage assistance, personal and business checking accounts, and mobile banking options. The bank primarily operates in the Northeastern and Mid-Atlantic regions of the United States, emphasizing community engagement and a focus on customer service. M&T Bank's business model is based on traditional banking practices, such as loans, deposits, and investment products, and it generates revenue through interest income and service fees. A key aspect that sets M&T Bank apart from its competitors is its commitment to community involvement, which includes allowing employees to volunteer and supporting local organizations. The recent merger with United Bank, N.A. has further expanded their services and market presence.

Buffalo, New YorkHeadquarters

1993Year Founded

IPOCompany Stage

Financial ServicesIndustries

10,001+Employees

Risks

Competition from fintechs could erode M&T Bank's market share among tech-savvy customers.

Integration challenges from the United Bank merger may disrupt operations.

Decreased prime rate could reduce interest income, impacting profitability.

Differentiation

M&T Bank emphasizes community engagement through its charitable foundation and volunteer programs.

The bank offers a wide range of traditional and digital banking services.

Recent merger with United Bank, N.A. expands M&T's market reach and service offerings.

Upsides

M&T Bank's $1.5 billion senior notes offering strengthens its financial position.

Decreased prime rate may attract more borrowers, increasing loan volume.

Shannon Lazare's appointment as New Jersey Regional President enhances local community engagement.

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