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2020 Department Highlight: Loan Officers & Loan Officer Assistants

2020 Department Highlight: Loan Officers & Loan Officer Assistants


2020 Department Highlight: Loan Officers & Loan Officer Assistants

Each year, Mortgage Investors Group helps thousands of homebuyers select the home loan program best suited to their needs. Yet, few people outside of the mortgage lending industry understand the hard work happening behind the scenes that leads up to the memorable day when the borrower receives the keys to his or her new home. To commemorate National Mortgage Professionals Month this September, we’re sharing insights into the important roles each department plays in ensuring our borrowers are able to finance the home of their dreams. This week, we focus on the Processing Department.


  Working Hard for You

Loan Officers, often assisted by Loan Officer Assistants, advise borrowers about the different mortgage loan programs available and which ones are best suited to help them achieve their dreams of becoming homeowners.

“Their job is knowing the products that are going to fit the needs of each person,” said J.R. Huber, senior vice president of Sales and Production.

In addition to educating borrowers about down payment assistance programs and special discounts for first-time homebuyers, Loan Officers work with clients to structure the loan to maximize the use of funds available in the transaction. They can offer advice, for instance, as to whether it’s better to pay mortgage insurance monthly or all upfront at the closing. They can help determine if available funds should be used to put more money down, or pay off debt.

Our roughly 120 Loan Officers assist our customers with getting pre-qualified for a home loan, educate them about the lending process and then walk with them through that process to the closing table.

“They solve problems that may arise during the transaction and anticipate issues before they become problems,” Huber said.

Working hand-in-hand with them behind the scenes are our 25 Loan Officer Assistants, who organize documents submitted with the loan application and keep track of deadlines so the loan can be approved in an efficient and timely manner.

“They can be a marketing resource and drive new business,” Huber said. “They can assist with the administration of the transaction by entering the loan information, acting as a liaison between the Loan Officer and the customer, and help a high-volume Loan Officer with organization of where many files are in the process.”


  Why We’re Industry Leaders

“Homebuying is a step-by-step process,” Huber said. “The experience can be overwhelming, so having a good Realtor and a good Loan Officer to guide you along is a critical component that makes the transaction a wonderful experience vs. a stressful experience.”

Our Loan Officers provide personalized, face-to-face service that leads to lifelong relationships with our borrowers.

MIG stays in the forefront of technology to assist our customer and make the loan process easier and more efficient. Historically, customers have been required to provide paystubs, W2’s, tax returns, bank statements, retirement account statements, etc. For a W2 borrower, MIG can now approve a loan without collecting documentation from our customer. Through technology, we are able to securely validate and verify assets, employment, and income. It is this type of “Modern Lending” that keeps MIG an industry leader in the markets we serve. It is being said around the industry that, “Technology will not replace the Loan Officer”, but we realize that if our Loan Officers do not embrace technology, we will be left behind. So, we are educating our already highly skilled loan officers on how to evolve with the industry’s future. Our customers may want to have an experience that is in person, over the phone, online, or through a mobile app.

“What we talk about is a customer for life kind of experience,” Huber said. “People can buy cars online, but you’d rather have somebody you know and trust do the research for you and make sure you’re getting a quality product.”

All our Loan Officers are licensed mortgage loan originators and some hold licenses in multiple states.

“We like to believe we add additional knowledge and certification because of that,” Huber said.

And while the industry doesn’t require it, all our Loan Officer Assistants are also licensed.

“That is unique to MIG to ensure Loan Officer Assistants can answer customer questions regarding rates, fees, products and terms,” Huber said. “It gives us a broader value proposition.”

Our Sales and Production staff also benefit from access to state-of-the-art technology, continuing education opportunities and a knowledge base that stems from company founders who started out as Loan Officers themselves.

“The value add is somebody that’s an expert in the field that’s been through those roadblocks, challenges and hurdles and being able to navigate them,” Huber said. “It’s also about knowing how to deliver the information so it’s received in the appropriate manner by the customer.”

Most of our Loan Officers are active members of their local Mortgage Bankers Associations and other civic and professional groups; but we also live and work in the communities we serve, so we’re vested in our communities and give back to them to see them thrive.

Huber shared, “What I love about my job is the satisfaction of putting someone in a home that may not have realized they could afford one and on the flip side, allowing someone to buy their dream home that they have worked their whole life to achieve. Being able to talk about what I do to anyone makes for a warm introduction since there is always an opportunity to talk about purchasing or refinancing a home.”

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Mortgage Investors Group, based in Tennessee, offers residential financing in a number of states in the southeast, See MIG Service Areas. Terms and conditions to apply to home financing. We want to share with you the loan terms vary based on several characteristics and your financial profile. These include but are not limited to loan program, loan purpose, occupancy, credit history, credit score, assets, and other criteria per loan type. The repayment terms and interest rate may vary from time to time. The terms represented here are based on certain assumptions outlined below and/or noted on the loan outline page. Additional details concerning privacy, program disclosures, licensing specifics may be found at migonline.com Legal Information.

MIG Loan Officers will help gather the information needed for an individual assessment to provide home financing which matches the loan characteristics with your home financing needs based on your financial profile, when you are ready to begin a full loan application. For estimates and general information before that step, the basis for which the mortgage financing information are as follows:

  • Rates are subject to change at any time.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
  • Payments will vary based on program selection, current rates, property location, etc.
  • Not all programs are available in all states.
  • Some loan programs may not be available to first time home buyers.
  • Terms and conditions apply, which may include restrictions or limits per loan program.
  • Information is generally based on primary residence occupancy with no cash out when refinancing.
  • Unless otherwise stated, terms shown are estimates based in part on credit score of 700 or higher; owner occupancy, escrow account is established for taxes and insurance(s); debt-to-income ratio no higher than 43.0%; PMI applies to conventional loan programs over 80.0% LTV; VA,FHA & RD require insuring fees included in loan and/or payment; fixed rate, 30 year term.

An MIG Loan Officer is available to help with your financial details to determine which characteristics apply to your situation for a personalized look into which loan program best fits your home financing needs. Please use the Find a Loan Officer link or reach out to Mortgage Investors Group at 800-489-8910. Equal Housing Lender 1.2020