Mortgage Loan Officer

About the role

Professional and administrative loan origination work, including implementation and coordination of approving or denying credit/loans to members. The individual solicits new business across various WCCU branch locations and collaborates with loan processing, closing, and servicing mortgage staff.

Responsibilities

• Gather background information on loan applicants by interviewing them and obtaining credit bureau reports.
• Assist members with the loan application process to ensure completeness of information.
• Collect income, employment, assets, debt/liabilities, credit, and property information of applicants and co-applicants.
• Estimate monthly payments for any outstanding debts not listed on the application and include them on the application.
• Calculate debt-to-income and loan-to-value ratios for loan applicants.
• Determine collateral needs and payment plans for members applying for loans.
• Identify the best loan product and options for applicants, ensuring loans meet underwriting guidelines for secondary market loans and/or in-house mortgages.
• Review, approve, or deny loan applications up to authority limits.
• Explain reasons for denial and explore alternative options for members when loans are denied.
• Verify the accuracy of loan amounts and repayment terms on approved loan applications.
• Complete loan documents and disclosures accurately and timely, per lending laws and regulations.
• Recommend new loan products and services in accordance with management direction.
• Research, analyze, and report on information impacting the area of expertise, including interest rates, real estate activity, title companies, attorneys, and appraisers.
• Travel to different WCCU branch locations daily and weekly to support and grow business, and assist with Loan Officer coverage during vacations.
• Communicate frequently with other personnel regarding underwriting and pricing criteria, and make loan adjustments as needed.
• Conduct loan closings with applicants, reviewing final closing documents and figures.
• Implement relevant aspects of strategic plans and budgets, set goals, and assist in achieving budgeted objectives.
• Occasionally meet with and speak to community or private groups to answer questions or promote loan products.
• Comply with applicable mortgage laws, regulations, company guidelines, and maintain current knowledge of policies and procedures.
• Inform the supervisor of legal, auditing, or compliance problems as necessary and cooperate with auditors or compliance officers.
• Maintain an active NMLS number per SAFE Act requirements.
• Prepare required reports as necessary.
• Maintain confidentiality of all processed information.
• Adhere to Credit Union policies and procedures.
• Explain Credit Union services and charges to members.
• Demonstrate a helpful, friendly attitude and look for opportunities to sell or refer Credit Union products and services.
• Maintain a neat and orderly work area, ensuring all negotiables and confidential records are properly secured.
• Stay abreast of changes in real estate lending trends.
• Maintain orderly files on each account with complete and accurate detailing of problems or correspondence.
• Perform other job-related duties as necessary.

Requirements

• 2-3 years minimum mortgage loan origination experience in a mortgage lending department.
• Knowledge of real estate loan policies, credit granting criteria, interest rates, and required documentation for each loan type.
• Professional sales experience is beneficial.
• Well-developed interpersonal skills for interviewing loan applicants and projecting a positive image as a Credit Union representative.
• Ability to maintain stable and courteous business relations with realtors, appraisers, employees, and others.
• Ability to perform basic mathematical calculations.
• Ability to work with a wide range of personalities in a courteous, effective, and efficient manner.
• Knowledge and ability to apply current financial service industry standards, laws, and regulations.
• Ability to present ideas, report facts, and other information clearly and concisely.
• Proficient knowledge of Microsoft Suite (Outlook, Word, Excel, PowerPoint).
• Proficient operation of general office equipment such as computers, software applications, calculators, telephones, copy machines, and fax machines.

Work Relationships and Scope

Reports directly to the Mortgage Lending Manager. Regular contact with members and employees of the Lending Department. Must maintain the integrity of confidential business information and provide outstanding service to co-workers and members. Ability to handle numerous details with frequent interruptions while maintaining courteous and timely relations with a variety of individuals.