Equity Loan Officer

About the Role

The Equity Loan Officer (ELO) educates, advises, and guides members through the Equity Loan and Home Equity Line of Credit (HELOC) application process while delivering exceptional service. This role develops and maintains relationships with branch locations, members, and Credit Union staff to identify lending opportunities, generate referrals, and originate equity loan products. The ELO assesses member needs, explains loan options, collects documentation, communicates loan status, and ensures compliance with Credit Union policies and regulatory requirements.

Responsibilities

• Respond to member inquiries about Equity Loans, HELOCs, and other consumer real estate lending products, explaining eligibility, rates, terms, and the application process.
• Follow up promptly on member referrals and new loan applications per service level standards.
• Maintain a visible presence at assigned branch locations to engage with members and staff, cultivate referral relationships, and identify lending opportunities.
• Refer first mortgage purchase and refinance opportunities to a Mortgage Loan Officer while ensuring a positive member experience.
• Communicate with members throughout the loan process, including status updates and underwriting decisions, adhering to service level standards.
• Explain underwriting decisions, loan denials, counteroffers, and alternatives to members in compliance with Credit Union policies and regulations; refer members to financial counseling when appropriate.
• Maintain knowledge of equity pricing, guidelines, and related software applications.
• Meet or exceed monthly loan production goals while delivering exceptional service and maintaining compliance with lending policies and regulations.
• Conduct loan closings for Equity Loans and HELOCs.
• Participate in Credit Union-sponsored events, branch promotions, and community outreach to promote lending products and strengthen member relationships.
• Ensure compliance with federal and state lending regulations, including TRID, ECOA, Fair Lending, HMDA (if applicable), Flood Insurance, SAFE Act, and Credit Union policies.
• Maintain up-to-date personal information in the NMLS registry within 30 days of any change.
• Perform other duties as assigned by management.

Skills

• Strong organizational skills with the ability to manage multiple priorities and meet deadlines.
• Excellent verbal and written communication skills for explaining loan requirements, options, and processes.
• Strong problem-solving and troubleshooting abilities.
• Customer service-oriented with relationship-building skills to deliver an exceptional member experience.
• Demonstrated sales skills to identify lending opportunities, develop referrals, and achieve production goals.
• Ability to build effective working relationships with branch staff, members, and internal departments.
• Understanding of local, state, and federal lending regulations, including mortgage and equity lending requirements.
• Ability to apply lending policies, procedures, underwriting guidelines, and product requirements.
• Detail-oriented with a focus on accuracy in reviewing loan documentation and ensuring compliance.
• Proficiency with loan origination systems, document management platforms, and Microsoft Office applications.