Aggressive Growth Client seeks Experienced Mortgage Industry Professional to expand New Jersey and New York Market.
The ideal candidate will be able to work independently and will be committed to doing business in an ethical and professional manner.
Our client is a community bank headquartered in northern New Jersey. The bank recently acquired a well established and reputable local mortgage banker and is committed to the ongoing growth in mortgage origination. Unlike most small banks our client views mortgage lending as a stand alone business channel and provides their mortgage division the autonomy to operate like a more traditional mortgage banker. As a result they're able to offer their team the best of both worlds, a true mortgage banking culture with all of the advantages of a major bank.
Here are just a few off the advantages which are offered to their originators:
- A management team with an average of more than 30 years of mortgage experience who are focused exclusively on mortgage lending.
- The ability to operate under the banks charter so originators can lend almost anywhere without having to worry about state licensing, continuing education or renewals. This also allows originators who are currently representing larger banks to transition seamlessly without having to obtain any additional licensing.
- Access to any secondary market outlet in the marketplace. Originators never have to worry about losing business to another lender because they don't have access to the right product.
- Access to Non-QM and Portfolio products. If a loan makes good sense the bank will find a way to fund it. (for example, they are currently funding several condo-hotel loans and short to medium term arms for borrowers with recent short sale activity).
- Delegated underwriting for all products. Almost all loans are underwritten in-house so loans consistently close in less than 30 days. When necessary, underwriting has been able to help take rushed loans from application to funding in little as 10 days! Since most loans are underwritten to the guidelines of a single investor you'll never have to worry about extensive overlays. Originators have direct access to processing and underwriting so they always know where their loans stand. Underwriting is happy to review loan scenarios early in the process so the originator can be sure they have the best product and are collecting the right stips the first time.
- Originators enjoy the financial stability and overall credibility of working for a federally insured bank.
- Access to a full commercial loan department and a reverse mortgage department so originators can keep all of their referrals and clients "in house". (Some experienced originators may even have direct access to commercial or reverse products)
- A professional and supportive environment where a loan originators time is valued and respected. Originators aren't required to make any unnecessary trips to the office to or waste time on unnecessary meetings. Originators have the option of meeting clients in several local banking branches allowing for flexibility and convenience you wont find at other lenders.
- An extensive benefits package and an overall compensation plan that's far more aggressive than most other banks. Lower overhead means originators enjoy a better balance of pricing and payouts. Commissions are paid out in as little as 15 days from the date a loan funds.
About The EMAC Group:
EMAC is an executive search firm that focuses entirely in the mortgage industry. Our clients range from regional and national banks, direct-to-agency lenders and correspondent mortgage bankers that are focused on acquiring the best talent. Our experienced mortgage recruiting team has placed thousands of industry professionals since 1995.
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