Loan Originator

• A loan originator, sometimes called a loan officer, is the person who establishes and organizes a mortgage loan in preparation for closing. A loan originator must be prepared to take on a number of roles at the bank or mortgage company. Without individuals working as originators, the bank or mortgage company can't continue to process loans in the course of business.
  
  

Broker Licensing and Education

• To work as a loan originator, in most states you must first receive proper licensing. The Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act requires you to complete 20 hours of training in mortgage origination. You must pass exams that quiz you on the basics of processing mortgage loans as well as federal and state regulations in order to receive a mortgage loan origination license. In some cases the mortgage company where you plan to work can train you and arrange for your testing.
  
  

Sales Proficiency

• One of the top requirements of working as a loan originator is that you know how to sell to consumers. You must contact sales leads either via phone or email to sell them on your loan services. Your job is to learn about the consumer's borrowing needs, check his qualifications for a mortgage loan and convince him to choose your mortgage company. You must be a highly skilled salesperson and fully understand the motivations of borrowers to succeed as an originator. An originator is often responsible for seeking out his own sales referrals and leads on an ongoing basis as well.
  
  

Paperwork Collection

• Another job requirement for working as a loan originator is that you collect all necessary documents required to proceed with a loan. Once you've closed the sale, you must maintain regular contact with the borrower. The mortgage company commonly requires you to help the proposed borrower fill out his mortgage application, then you must gather documentation from him to support his statements on the application. Once you have the proper documentation, you can pass the information onto the loan processor and underwriting team to close the loan.