Mortgage Broker Job Description [Updated for 2024]

mortgage broker job description

In the modern world of finance, the role of mortgage brokers is increasingly significant.

As the property market evolves, so does the demand for skilled professionals who can navigate, enhance, and protect our mortgage landscape.

But let’s delve deeper: What’s truly expected from a mortgage broker?

Whether you are:

  • A job seeker aiming to understand the core of this role,
  • A hiring manager outlining the perfect candidate,
  • Or simply interested in the intricate world of mortgage brokering,

You’ve come to the right place.

Today, we present a customizable mortgage broker job description template, crafted for easy posting on job boards or career sites.

Let’s dive right in.

Mortgage Broker Duties and Responsibilities

Mortgage Brokers act as an intermediary between lenders and borrowers.

They use their expert knowledge of the mortgage market to source the most suitable mortgage products for their clients based on their financial situation.

They often have the following duties and responsibilities:

  • Evaluate the financial status and credit history of the client
  • Discuss and understand the client’s property ownership goals and financial capabilities
  • Research various mortgage loan products available from different lenders
  • Provide clients with comparative information on different types of loans and recommend the most suitable option
  • Explain legal disclosures to the client and ensure they understand the terms of the loan
  • Apply for loans on behalf of the client and assist them in gathering the necessary documentation
  • Manage loan process through to closure, liaising with various parties including loan officers, underwriters, and real estate agents
  • Stay updated on current regulations and laws related to mortgage lending
  • Maintain professional relationships with clients and lenders to develop a strong referral network


Mortgage Broker Job Description Template

Job Brief

We are in search of a skilled Mortgage Broker to evaluate, authorize, or recommend approval of commercial, real estate, or credit loans.

A Mortgage Broker’s responsibilities include advising clients on the loans that are most suitable for their needs, gathering necessary financial documents, and ensuring all lending procedures comply with regulations.

The ideal candidate should be able to effectively manage relationships with clients and lenders, be knowledgeable about real estate markets and lending options, and have strong analytical skills.



  • Research and evaluate loan options suitable for clients
  • Manage relationships with lenders and clients
  • Collect and verify all necessary financial documentation
  • Ensure all lending procedures comply with regulations
  • Prepare detailed loan proposals and documentation
  • Present and explain loan options to clients
  • Negotiate loan terms with clients and lenders
  • Maintain an updated knowledge of real estate markets and lending options
  • Keep clients informed about their loan application process



  • Proven work experience as a Mortgage Broker or similar role
  • Knowledge of different types of loans and credit packages
  • Understanding of lending procedures and customer service experience
  • Excellent analytical skills and attention to detail
  • Strong negotiation and sales skills
  • Ability to manage multiple clients and tasks simultaneously
  • Good understanding of banking and financial management principles
  • Bachelor’s degree in Finance, Business Administration or relevant field



  • 401(k)
  • Health insurance
  • Dental insurance
  • Retirement plan
  • Paid time off
  • Professional development opportunities


Additional Information

  • Job Title: Mortgage Broker
  • Work Environment: Office setting with options for remote work. Some travel may be required for client meetings.
  • Reporting Structure: Reports to the Loan Department Manager.
  • Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
  • Pay Range: $45,000 minimum to $90,000 maximum
  • Location: [City, State] (specify the location or indicate if remote)
  • Employment Type: Full-time
  • Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
  • Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].


What does a Mortgage Broker do?

Mortgage Brokers are licensed professionals who serve as intermediaries between borrowers and lenders in mortgage transactions.

They work closely with their clients, understanding their financial situation and needs, to find the best mortgage loan options available.

This involves sourcing and comparing mortgages from a variety of lenders to ensure the client gets the best interest rates and terms.

Mortgage Brokers often handle the loan application process on behalf of their clients, ensuring all necessary paperwork is completed accurately and on time.

They also provide financial advice and guidance to their clients, helping them understand the mortgage process and any associated fees or charges.

This includes explaining the legal disclosures and making sure the client fully understands the terms and conditions of the mortgage.

Mortgage Brokers often maintain relationships with a variety of lenders and stay up-to-date on the latest mortgage products and lending criteria.

This knowledge allows them to assist clients with diverse needs, from first-time home buyers to property investors.

In some cases, Mortgage Brokers may also negotiate with lenders on behalf of their clients to secure better loan terms or rates.


Mortgage Broker Qualifications and Skills

A proficient mortgage broker must possess skills and qualifications that support the demands of the role, including:

  • Financial knowledge and understanding of various mortgage products, lending procedures, and real estate market trends to provide effective advice to clients
  • Excellent interpersonal and communication skills to build and maintain relationships with clients, lenders, and other industry professionals
  • Negotiation and sales skills to secure the best mortgage rates and terms for clients
  • Strong analytical skills to assess complex financial situations and make informed decisions
  • Attention to detail and organizational skills to manage multiple applications, meet deadlines, and comply with regulatory requirements
  • Customer service skills to ensure clients’ needs are met and maintain client loyalty and referrals
  • Ability to work under pressure and meet targets within a competitive market environment
  • Proficiency in using mortgage software systems and other computer applications to process loan applications and manage client information


Mortgage Broker Experience Requirements

Mortgage Brokers usually start their career journey with a formal education in finance, economics, or a related field, where they acquire a foundational understanding of mortgage lending and financial markets.

Entry-level positions may require a minimum of one to two years of experience in a financial or banking environment.

This experience can often be gained through internships or part-time roles in banking, real estate, or finance companies.

Candidates with more than 3 years of experience are often expected to have a deeper understanding of the mortgage lending process, as well as experience with loan origination systems and various mortgage products.

Their previous roles may include Loan Officer, Mortgage Loan Processor, or Loan Underwriter.

Those with more than 5 years of experience are often considered for senior roles.

They may have some managerial or supervisory experience in their background, along with a track record of successful sales performance and client relations.

In addition to experience, some employers may require Mortgage Brokers to hold specific certifications or licenses in accordance with state and federal laws.


Mortgage Broker Education and Training Requirements

Mortgage Brokers typically require a minimum of a high school diploma or equivalent.

In many places, they also need to complete a state-approved mortgage broker course, which may range from 20 to 40 hours.

These programs cover essential topics such as mortgage laws, ethics, and fraud prevention.

Additionally, some states require mortgage brokers to have an associate’s or bachelor’s degree in fields such as business, finance or economics.

Each state has a licensing requirement for mortgage brokers.

To earn a license, individuals must meet education and experience requirements, pass a state-administered exam, and maintain a clean criminal record.

Many brokers pursue additional designations like Certified Mortgage Banker (CMB) or Certified Residential Mortgage Specialist (CRMS), which can enhance their credibility in the industry.

Continuing education is often required to maintain the license and stay updated with the changes in laws and regulations.

In addition to formal education, successful mortgage brokers usually have strong communication and analytical skills, along with a good understanding of real estate markets and lending practices.


Mortgage Broker Salary Expectations

A Mortgage Broker on average earns around $62,270 (USD) per year.

The actual salary can vary depending on factors such as experience, qualifications, the size of the brokerage company, and geographical location.


Mortgage Broker Job Description FAQs

What skills does a mortgage broker need?

A Mortgage Broker should have excellent communication and negotiation skills, as they need to discuss complex financial matters with clients and negotiate with lenders.

They need to be detail-oriented to understand and explain various mortgage options.

Analytical skills are also important to assess a client’s financial situation and offer suitable mortgage options.

Finally, they need to have good organizational skills to manage multiple applications and transactions at the same time.


Do mortgage brokers need a degree?

Mortgage brokers do not necessarily need a degree, but many have degrees in fields such as finance, economics, or business.

The most important requirement is to be licensed as a Mortgage Broker.

This requires passing the National Multistate Licensing System (NMLS) exam, and the criteria may vary by state.


What should you look for in a mortgage broker resume?

In a mortgage broker’s resume, first, verify their licensing information.

Then look for experience in mortgage brokering or a related field, such as real estate or finance.

Proficiency in mortgage-related software or customer relationship management systems is a plus.

Finally, any evidence of sales skills or a strong track record in securing mortgage deals would be valuable.


What qualities make a good mortgage broker?

A good mortgage broker is reliable, diligent, and has a deep understanding of financial concepts and mortgage products.

They need to be patient and empathetic, as they often deal with clients who may be stressed or confused about the mortgage process.

They should also be proactive in staying updated with current mortgage policies and market trends to provide the best advice to clients.


Is it difficult to hire a mortgage broker?

The challenge of hiring a mortgage broker largely depends on the current state of the real estate and financial markets.

During boom periods, there can be a high demand for experienced mortgage brokers, making it more challenging to find suitable candidates.

However, offering competitive compensation, ongoing training opportunities, and a supportive work environment can attract quality candidates.



And there we have it.

Today, we demystified the essence of being a mortgage broker.

Surprise, surprise?

It’s not just about crunching numbers.

It’s about paving the way to home ownership, one loan application at a time.

With our go-to mortgage broker job description template and real-world examples, you’re all prepped to make your mark.

But why halt your journey here?

Dig deeper with our job description generator. It’s your next step towards creating meticulous job listings or refining your resume to absolute precision.


Every approved loan is a step closer to someone’s dream home.

Let’s construct that pathway. Together.

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