BLUEHUB CAPITAL Mortgage Loan Officer Salary in the United States

BlueHub Capital seeks a Mortgage Loan Officer (MLO) to work closely with BlueHub SUN program applicants to prequalify them for the program, collect financial data, complete application forms, explain the SUN program and disclose all terms and conditions. The MLO is responsible for preparing a complete loan application package that is sent to processing and underwriting for approval. The MLO stays in contact with the client throughout the loan process and until the loan is closed. MLOs are required to understand the entire loan origination process and to stay current on mortgage lending regulations. They are responsible for keeping accurate client files and making sure all documents are properly filed and stored as required by state law. This position reports to SUN’s Operations Manager.

Background: The BlueHub SUN program offers distressed homeowners a fixed-rate mortgage with a monthly payment they can afford. We provide financing to responsible borrowers with stable incomes who are committed to maintaining a regular payment schedule. Our aim is to help individual homeowners, as well as entire neighborhoods and municipalities, avoid the destabilizing effects of foreclosures and vacancy. Since late 2009, BlueHub SUN has helped over 1,170 families avoid foreclosure while reducing their principal balances by about 23%, on average. BlueHub SUN offers loans in the following states: Connecticut, Delaware, Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio, Pennsylvania, Rhode Island and Wisconsin.

BlueHub Capital is a mission-driven, nonprofit community development financial institution (CDFI) focused on building healthy communities where low-income people live and work. We use innovative financial tools and deploy capital to support projects that make communities more vibrant places to live. BlueHub has four distinct programs: BlueHub Loan Fund (community development financing), BlueHub SUN (foreclosure relief), BlueHub Energy (clean energy access) and One Percent for America (citizenship financing). Since our founding in 1985, BlueHub has invested over $2.4 billion (and leveraged over $12 billion) to finance:

• Affordable housing, school facilities, child and youth development programs, community-based health centers, grocery stores, and community gathering places
• Reducing financial barriers to US citizenship
• Clean energy enhancements that expand access to solar and other renewable sources for people with low incomes
• Mortgage lending for families facing foreclosure

Reducing economic inequality is at the heart of why BlueHub exists and why we do the work we do. Our investments focus on marginalized communities, particularly those who’ve been systematically denied access to capital. Our offices are located in the Nubian Square neighborhood of Boston, MA. To learn more about BlueHub Capital, please visit, www.bluehubcapital.org.

Essential Duties and Responsibilities:

• Prequalifies applicants for loans during prequalification meetings.
  • Explains program to client and guides client to other resources, as necessary.
  • Discusses financial / foreclosure / eviction issues with clients.
  • Works with third party referrers during prequalification process.
• Manages loan application process with clients.
  • Discloses all terms and conditions of the program.
  • Prepares Loan Estimate form.
  • Discusses potential underwriting concerns with clients and makes notes to file.
• Secures necessary financial documents from clients throughout the loan origination process.
• Stays current on mortgage banking regulations and adheres to compliance requirements in carrying out work.
• Maintains MLO license.
• Maintains Encompass database and uses other automated tools to track work and to provide timely reporting information.
• Actively supports and occasionally leads process improvement activities.
• Meets pipeline and production goals required to achieve budget.
• Supports Processing, Underwriting, Negotiations, Closings, and other functions as required to meet organizational goals.
• Supports special funding programs, as needed, and acts as a point of contact for the funding agency.
• Provides requested information and attends meetings to support SUN marketing activities and public relations.

Qualifications and Skills:

• 1-2 years prior work experience as an MLO. Must be a licensed MLO in Massachusetts.
• Knowledge of prequalification and loan application process.
• Strong analytical skills and solid understanding of residential real estate market and values.
• Solid understanding of the underwriting guidelines.
• Strong current knowledge of mortgage lending regulations and familiarity with both conventional and government mortgage policies.
• Detail oriented with good decision-making ability.
• Excellent customer service skills and able to work effectively with a diverse customer base.
• Displays empathy and discretion in handling customer concerns; has strong verbal communication skills for frequent phone calls.
• Has a knack for identifying and carrying out process improvements.
• Able to manage multiple priorities and get work done in a timely and efficient manner.
• Is a self-starter. Able to work independently, take initiative, and remain flexible in accepting new assignments or accommodating changing priorities.
• Strong team player who is able to develop rapport and trust with diverse colleagues.
• Working knowledge of Encompass is preferred.
• Spanish fluency preferred, but not required.
• Commitment to the mission and goals of BlueHub Capital.

Salary and Benefits:

Salary is competitive and commensurate with experience within the guidelines of BlueHub Capital’s scale. The position comes with excellent benefits including medical, dental, life and long-term disability insurance, as well as generous vacation and employer contributions to a retirement account.

Application:

Please send a resume and cover letter to Shannon Weiss. No calls please. Due to the high volume of applications, BlueHub Capital cannot return phone calls about the position and, regrettably, cannot notify applicants of the status of applications unless an interview is requested.

BlueHub Capital is an equal opportunity employer. BlueHub Capital is committed to a policy of equal employment opportunity (EEO) for all employees or applicants for employment without regard to race, color, religion, sex, sexual orientation, gender, gender identity, gender expression, age, national origin, ancestry, active military or veteran status, physical or mental disability, medical condition, pregnancy (which includes pregnancy, childbirth, medical conditions related to pregnancy and childbirth, and breastfeeding and expressing breast milk), genetic information, or other protected status in accordance with applicable federal, state and local laws.