Mortgage Broker Specialist Job Profile and Description

A mortgage broker specialist is a real estate professional specializing in assisting consumers in the selection, processing and closing of a mortgage loan. The position can be a freelance broker or work in any independent financing brokerage firm to serve as the mediator between a prospective buyer of a property, or borrower and the lending institution. The objective is to provide financial expertise to consumers to get the best mortgage deals.

Duties and Responsibilities

  • Provide assessment on the eligibility of loan applicants for a mortgage on a house or commercial property for reference by bankers and lenders
  • Explain the various types of mortgages to the clients and the mortgage options available from various banks and recommend the moist suitable for their individual needs
  • Liaise with various banks on the client’s behalf to secure the best deal
  • Fill out an application form, collect supporting documents, like bank statements, and submit the application to the bank
  • Inform the client if their mortgage application has been approved or not
  • Organize home second loan requirements including a valuation of the client’s home for presentation to the bank
  • Provide financial and investment advice to clients

Skills and Specifications

  • Must be able to scrutinize loan application, investigate credit worthiness have a good relations with local governments for correct land and property valuation.
  • Must have good relations with banks and lenders
  • Must be able to work with a team and have excellent interpersonal skills to interact with clients
  • Must have excellent salesmanship and marketing skills
  • Must have a good understanding of the real estate business, economic trends and property valuation dynamics

Education and Qualifications

A college degree in a business, marketing or accounting is a basic requirement, along with computer literacy for spreadsheets and word processing. A previous experience in loan processing or a post-graduate course is an asset.