Mortgage Loan Officer Salary in Michigan - State Average, Michigan

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Average Salary for Mortgage Loan Officer in Michigan - State Average, Michigan

The average salary of a(n) Mortgage Loan Officer in Michigan - State Average, Michigan is $64,247.

The average hourly rate of a(n) Mortgage Loan Officer in Michigan - State Average, Michigan is $30.89.

The average bonus of a(n) Mortgage Loan Officer in Michigan - State Average, Michigan is $2,236.00.

Job Description:

Interviews applicants, and reviews, evaluates, and authorizes or recommends approval of customer applications for conventional residential mortgage and FHA/VA loans. Interviews applicant and requests specified information for mortgage loan application. Analyzes applicant financial status, credit, and property evaluation to determine feasibility of granting loan, or may submit application to Credit Analyst for verification and recommendation. Corresponds with or interviews applicant or creditors to resolve questions regarding application information. Approves mortgage loan within specified limits or refers loan to loan committee for approval. Lesser experienced loan officers operate with moderate credit authority where more experienced senior loan officers operate with substantial credit authority involving large amounts of money or important customers. Ensures loan agreements are complete and accurate according to policy. May confer with mortgage underwriter to aid in resolving mortgage application problems. May analyze potential loan markets to develop prospects for loans. May solicit and negotiate conventional or government secured loans on commission basis. May supervise loan personnel. Less

Interviews applicants, and reviews, evaluates, and authorizes or recommends approval of customer applications for conventional residential mortgage and FHA/VA loans. Interviews applicant and requests specified information for mortgage loan application. Analyzes applicant financial status, credit, and property evaluation to determine... More

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The Mortgage Loan Officer (MLO) proactively solicits new residential mortgage business and sells Bank of America mortgage products to meet established loan...

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