Virtual Loan Officer
A VLO or Virtual Loan Officer is an individual that works out in the field cultivating mostly the purchase market with Realtors. It is a challenging position to be successful at, but those who are can make a good income and have the freedom of an entrepreneur. Some of the mortgage bankers that our firm works with will allow mortgage loan officers to work from home and report to a branch. Some of these VLO positions come with leads provided, but many are offered to those with current Realtor relationships to someone with a proven track record of funding loans. To discover if a VLO job is right for you or to learn more about the different opportunities that the company offers call and speak with an mortgage consultant today.
Working with our mortgage banking partner offers you the best of both worlds. Great rates, great compensation and the tools and support you need to succeed as a virtual loan officer.
Why work for our mortgage banking parters?
- Competitive rates
- under 30 day turn-time on your loans
- Specific training program to help transition you to purchase before the market changes
- Education/Licensing & Renewal paid for by company
- Competitive Base Pay & Tiered Incentive Compensation
- Top Performer Bonuses
- Quarterly and Annual Bonuses
- Great benefits
Essential Duties and Responsibilities:
- Take thorough and complete loan applications
- Analyze and prequalify applicant information to determine viability of the client’s desired loan program.
- Pull credit, analyze credit, and compare for accuracy with the mortgage borrower’s statements.
- Provide guidance and information relevant to the risks and benefits of each program the applicant is qualified for; effectively explain and communicate the terms of each product and ensure all documents necessary are signed by the borrower.
- Gather all initial documentation required disclosures, based upon the applicant’s selected loan program
Essential Knowledge, Skills, Licenses:
- National NMLS and state specific NMLS required
- 1 Year of Mortgage Origination Experience
- Intermediate to advance experience LOS system
- Multiple state licenses preferred
- Applicants with Less than 1 year experience considered on a case by case basis
- Current officers given strong consideration regardless of experience
- Multi-Lingual capabilities to include Spanish are a plus
- The ability to create, implement and adapt a market penetration strategy for lead development, prospect to client conversion, and client to close conversion also a plus