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Mortgage Broker Job Description

Summary

Responsible for working on behalf of the mortgage lender and borrowing individual by assembling and verifying all closing documents required by title insurance company and initializing loans.

Primary responsibilities

  • Work with various lenders to find the best deal for a homebuyer.
  • Originate loans to sell to lending institutions.
  • Act as an intermediary between a lender and a borrower who needs a mortgage loan.
  • Evaluate pay stubs, credit history, tax information and bank statements for financial status.
  • Work to ensure compliance with banking and or finance laws in the jurisdiction of the consumer.
  • Sell loans in the name of other organizations and businesses.
  • Verify the income of the borrower as well as gather their credit information.
  • Follow through with lender and client during approval process.
  • Explain the legal aspects of the loan to the borrower as well as the payment terms and clauses to them.
  • Define repayment terms to consumer and educate them on default consequences

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