A mortgage company‘s CEO or CFO is the chief executive officer of a company. The CEO or CFO of a mortgage company has the responsibility for guiding its operations. A CEO or CFO of a mortgage company is expected to develop and implement strategies to achieve the company’s objectives. In this role, the CEO/CFO is also expected to be involved in strategic planning and corporate development. The mortgage company’s CEO is expected to have board experience.
Job description for mortgage account executive
As a mortgage account executive at a mortgage company, you will be responsible for overseeing mortgage transactions and developing relationships with clients. You will estimate borrowers’ credit worthiness and calculate their risk, and approve or disapprove loans after thorough examination. As a mortgage account executive, you will manage existing clients and follow-up on qualified leads. You will also be responsible for building relationships with new customers, and you will spend a considerable amount of time on the phone and in person.
While working in this role, you’ll be required to manage relationships with brokers. The role of a mortgage account executive is similar to that of an outside salesperson, but a mortgage account executive must have strong communication skills and be well-versed in mortgage lending. You’ll be required to learn the products and service requirements of mortgage brokers. Your training and experience in this area should prepare you for this important role, which requires strong interpersonal and verbal communication skills.
Salary for mortgage account executive
A mortgage account executive is responsible for managing and developing national and regional sales activities. They work with mortgage brokers and approved brokers to close sales. Mortgage account executives must have excellent communication and decision-making skills, as they analyze and approve mortgage loans. They must also be able to multi-task, as they must manage several client accounts at once. Mortgage data and reports are usually processed through spreadsheet software. They must also have excellent computer skills, and have strong customer service and negotiation skills.
The salary ranges from $50,000 to over $75,000 per year, although the salary may be higher in some areas. The average salary for a mortgage account executive is $91,000 per year, and can go as high as $152,000 in some areas. In June 2011, the average salary for a mortgage account executive was $91,000, and this figure includes government and subprime loans. Before the financial crisis, account executives made $300,000 per year. However, the number of account executives has decreased since then and salaries are now lower.
The salary of a mortgage account executive is not too high, but it can be considerably higher than the average for similar jobs. Some account executives earn a base salary plus a percentage of the loans they fund each month. The commission is typically calculated in basis points, or 1/100th of a percentage point. Therefore, a mortgage account executive earning 25 basis points would earn $2,500 in commission. Most salary plus commission compensation packages have base salaries in the $30s to $40k range and a tiered commission schedule.
Requirements for mortgage account executive
Mortgage account executives manage and develop sales activities through various third-party channels. As a result, they are required to have a wide range of knowledge about loan products and be able to offer advice to approved brokers. In addition, they must be able to multitask with several client accounts at once. This position typically involves working with spreadsheet software and processing data electronically. A college degree is preferred.
While in a wholesale account executive role, a candidate should have an in-depth knowledge of the mortgage industry and have strong verbal communication skills. They should also be knowledgeable about the latest trends in the mortgage industry. A mortgage account executive must be able to train brokers and remain informed about wholesale lending requirements. If you are interested in this role, read on to find out more about the job description.
As an Account Executive, you must have a strong desire to work for a mortgage company. Account executives are responsible for establishing and maintaining relationships with mortgage brokers and bankers. Typically, they build and manage at least 10 to 20 mortgage broker relationships in their market area. An Account Executive must be willing to travel and be able to sell mortgage company products effectively. You will be paid by volume and must be dedicated to achieving your personal goals.
