Mortgage Loan Officer

About the role

Professional and administrative loan origination work involving the implementation and coordination of approving or denying credit/loans to members. The role includes soliciting new business across various WCCU branch locations and collaborating 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 with members.
• Verify the accuracy of loan amounts and repayment terms on approved applications.
• Complete loan documents and disclosures accurately and timely, adhering to lending laws and regulations.
• Recommend new loan products and services in line with management direction.
• Research, analyze, and report on information impacting the lending area, 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 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 supervisors of legal, auditing, or compliance issues 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, and explain 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, securing negotiables and confidential records properly.
• Stay abreast of changes in real estate lending trends and maintain orderly, detailed account files.
• 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 rate computation, and required documentation for each loan type.
• Professional sales experience is beneficial.
• Well-developed interpersonal skills for interviewing applicants and representing the Credit Union positively.
• Ability to maintain stable and courteous business relations with realtors, appraisers, employees, and others.
• Ability to perform basic mathematical calculations.
• Ability to work effectively with a wide range of personalities.
• Knowledge of and ability to apply current financial service industry standards, laws, and regulations.
• Ability to present ideas, facts, and information clearly and concisely.
• Proficient in Microsoft Suite (Outlook, Word, Excel, PowerPoint).
• Proficient operation of general office equipment such as computers, calculators, telephones, copiers, fax machines, and related software.

Skills

• Interviewing techniques.
• Strong interpersonal and communication skills.
• Attention to detail with the ability to manage numerous tasks under frequent interruptions.
• Ability to maintain confidentiality and integrity of business information.
• Punctuality, flexibility, reliability, and a positive, professional, team-oriented attitude.
• Ability to gain trust and respect from members, management, and employees.
• Commitment to continuing education for job growth.