Mortgage Broker job description
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What does a Mortgage Broker do?
The Mortgage Broker acts as an intermediary between clients and lenders, assisting customers in securing the best possible mortgage options. This role is vital in expanding the company's client base and ensuring customer satisfaction through tailored financial advice.
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What are the Key Responsibilities of Mortgage Broker
- Assess clients' financial situations and mortgage needs.
- Research and compare mortgage products from various lenders.
- Advise clients on mortgage solutions that best fit their needs.
- Facilitate the mortgage application process and manage paperwork.
- Maintain relationships with financial institutions and clients.
- Ensure compliance with all regulatory and lender requirements.
- Stay informed of industry trends and market conditions.
- Negotiate terms and conditions with lenders on behalf of clients.
What are the Skills and Requirements for a Mortgage Broker?
- In-depth knowledge of mortgage products and loan processes.
- Strong analytical and financial acumen.
- Excellent negotiation and communication skills.
- Ability to build strong relationships with clients and lenders.
- Proficiency in financial software and tools.
- Attention to detail and organizational skills.
What are the KPIs to track for Mortgage Broker?
The Mortgage Broker's performance is evaluated through client satisfaction rates, the number of successful mortgage closings, and the breadth of lender relationships established.
Client Satisfaction
Achieving high satisfaction ratings from client feedback.
Mortgage Closings
Meeting or exceeding monthly targets for successfully closed mortgages.
Lender Relationships
Establishing and maintaining strong partnerships with a wide range of lenders.
Reports to
Director of Sales
Collaborates with
Loan Officers, Underwriting Teams
Leads
None
Are any specific tools or software required for the Mortgage Broker role?
- Calyx Point
- Encompass
- Loan origination software
What is the qualification of Mortgage Broker?
Bachelor's degree in Finance, Business, or a related field; at least 2-4 years experience in mortgage brokerage.
