Mortgage Loan Officer

About the role

Generate new mortgage loan clients for the Credit Union and new mortgage loans from existing clients of the Credit Union. Contacts and creates relationships with potential mortgage loan clients, marketing the Credit Union’s services to various outside parties, and securing mortgage loan engagements with new and existing customers of the Credit Union.

Responsibilities

• Contacts and creates relationships with potential mortgage loan clients, marketing the Credit Union’s services to various outside parties, and securing mortgage loan engagements with new and existing customers of the Credit Union.
• Conducts initial pre-qualification interviews and prepares loan application packages and necessary documentation, acting as liaison to branch staff by conducting training in the same.
• Conveys policies for extension of credit in accordance with the Credit Union and secondary investor guidelines, meeting mortgage loan scheduling and documentation requirements, as well as production expectations as determined by the Vice President, Mortgage Origination.
• Serves members, prospective members, builders, developers, and Realtors promptly and professionally, networking to cross-sell the Credit Union’s services.
• Generate new mortgage loan clients for the Credit Union and new mortgage loans from existing clients of the Credit Union.
• Research, visit, call, contact, network and communicate with existing and prospective customers of the Credit Union – and referral sources of the same – regarding their financial and mortgage-related needs and/or opportunities for sales.
• Interview, take applications, and process preliminary documentation on loan requests.
• Discuss loan alternatives, credit criteria, interest rates, and loan documentation in such a manner as to elicit positive responses from members and potential customers.
• Perform these functions on a regular basis, no less than every work week, and most often outside the Credit Union’s place of business.
• Effectively and professionally complete other loan origination functions, incidental to the acquisition of additional business.
• Take advantage of opportunities to cross-sell the Credit Union’s products and services.
• Perform these functions at the member’s or potential customer’s convenience, most often at locations other than the Credit Union’s facilities, such as the client’s home or place of business.
• Perform follow-up work necessary to achieve conditional approval within established timeframes.
• Promptly and courteously notify member or prospective client if loan is referred back to Loan Officer because of problem ratios or credit ratings.
• Advise members or prospective clients of loan approval or denial. Explains loan denials precisely and clearly.
• Complete lending operations in accordance with established Credit Union policies and legal requirements.
• Establish and maintain effective communication and coordination with Credit Union personnel and with management.
• Coordinate functions with related departments and Branches and provides support as needed.
• Loan Officer will act as liaison to branch staff and will be responsible for training of branch personnel in mortgage loan products and completing online applications using mortgage loan software.
• Keep management informed of area activities and of any significant problems.
• Attend and participate in all meetings, trainings, and committees as required.
• Complete required records and reports.
• Assume responsibility for related duties as required or assigned.
• Stay informed regarding changes in lending standards, related legal requirements, and trends in local real estate and the competitive lending market.
• Ensure that any shared/temporary work area or Credit Union property, including any assigned equipment (such as a laptop), is safely maintained and secured.
• Accomplish all essential tasks despite not having regular work hours scheduled.
• Participate in all required trainings, meetings and committees.
• Satisfactorily complete all required compliance training and comply with all regulations which apply within the scope of the position to include Bank Secrecy Act compliance.
• Participate in community and civic events to promote awareness of the Credit Union.
• Ensure work area and assigned equipment is clean, secure, and well maintained.
• Perform other duties as assigned by management.

Requirements

• Education/Certification: Associate degree in Business or an equivalent combination of formal training and experience. State Mortgage Originator License required or must be able to obtain within 6 months.
• Required Knowledge: Understanding of the foundation of determining credit worthiness. Knowledge of industry standard products, procedures, processing, and underwriting guidelines. Familiarity with title reports, insurance, and appraisals.
• Experience Required: Three to five years of related mortgage industry experience preferred. Minimum of one year mortgage loan originating experience required.
• Skills/Abilities: Ability to accurately assess cultural environment, exhibiting emotional intelligence and appropriate sensitivity while maintaining individuality. Strong interviewing skills. Excellent interpersonal and public relations abilities. Able to work in a cooperative manner with others. Excellent oral and written communication skills. Strong organizational skills with excellent follow-up and attention to detail. Good analytical and financial skills. Highly motivated and responsible. Adaptable. Able to move multiple streams of work forward simultaneously. Able to operate PC, related software applications, and standard office equipment. Able to meet deadlines and maintain and effective and efficient workflow. Must be able to work independently, collaboratively as a team, and handle multiple tasks in a fast-paced environment. Professional dress, appearance, and attitude. Required to work at any Credit Union location that may include extended hours, holidays, or Saturdays. Regular and predictable attendance.

Qualifications

• Education/Certification: Associate degree in Business or an equivalent combination of formal training and experience. State Mortgage Originator License required or must be able to obtain within 6 months.
• Required Knowledge: Understanding of the foundation of determining credit worthiness. Knowledge of industry standard products, procedures, processing, and underwriting guidelines. Familiarity with title reports, insurance, and appraisals.
• Experience Required: Three to five years of related mortgage industry experience preferred. Minimum of one year mortgage loan originating experience required.
• Skills/Abilities: Ability to accurately assess cultural environment, exhibiting emotional intelligence and appropriate sensitivity while maintaining individuality. Strong interviewing skills. Excellent interpersonal and public relations abilities. Able to work in a cooperative manner with others. Excellent oral and written communication skills. Strong organizational skills with excellent follow-up and attention to detail. Good analytical and financial skills. Highly motivated and responsible. Adaptable. Able to move multiple streams of work forward simultaneously. Able to operate PC, related software applications, and standard office equipment. Able to meet deadlines and maintain and effective and efficient workflow. Must be able to work independently, collaboratively as a team, and handle multiple tasks in a fast-paced environment. Professional dress, appearance, and attitude. Required to work at any Credit Union location that may include extended hours, holidays, or Saturdays. Regular and predictable attendance.