Mortgage Loan Officer (MLO)

Purpose of the Job

The Mortgage Loan Officer (MLO) proactively acquires new residential mortgage business and matches members with Truliant Federal Credit Union mortgage products to meet established loan quality and production goals. The Mortgage Loan Officer continually identifies, develops and maintains a quality network of business relationships that serves as a recurring source of referrals for new mortgage lending opportunities.

Essential Functions And Responsibilities

• Responds to customer inquiries and referrals that are generated from personal contacts and from other Truliant Federal Credit Union business channels.
• Conducts interviews with prospective borrowers in order to analyze financial and credit data, determine customer financing objectives, advises borrowers of product/pricing policies and guidelines, and gathers any additional required information.
• Maintains thorough knowledge of lending programs, policies, procedures and regulatory requirements, demonstrates a commitment to professional ethics, complies with all Federal and State compliance policies and adheres to HMDA requirements.
• Develops and maintains successful relationships with business referral sources, existing and prospective Truliant Federal Credit Union through marketing, cold-calling, prospecting and networking activities.
• Meets with members as necessary during various stages of the loan process.
• Utilizes Truliant Federal Credit Union training materials, reference tools and other resources to provide accurate and up-to-date loan program/policy information to both external members and internal business partners.
• Provides complete loan applications to fulfillment center partners.
• Ensures exceptional member experience by overseeing loan process from origination to close and providing on-going communication to members and business partners.
• Participates in community efforts to promote home ownership.
• Presents appropriate Truliant Federal Credit Union products and programs and explains guidelines.
• Works with Mortgage Processor, Underwriter, and all other Mortgage Staff to ensure that loan docs are submitted to processing within 7 days or as modified by Truliant Federal Credit Union.
• Works with Mortgage Processors to ensure that loan conditions are met.
• Maintains current and thorough knowledge of all lending programs, policies, procedures and regulatory requirements.

Other Duties And Responsibilities

• Assists with other tasks and projects as assigned.

Knowledge, Skills, And Abilities

• Sound understanding of standard concepts, practices, procedures, regulations and compliance within the loan origination environment, as well as services offered by the credit union.
• Thorough knowledge of first and second mortgage real estate lending, including mortgage processing, underwriting, and closing procedures, and any regulatory compliance relating to real estate lending.
• Continuing knowledge of insurance products offered and underwriting guidelines to ensure the loans are insurable to protect the credit union’s loan-to-value in the collateral.
• Demonstrated success in prospecting, generating leads, closing business and consistently meeting/exceeding production goals.
• Established network of referral business including Real Estate professionals and other centers of influence.
• Strong computer skills including a fundamental understanding of MS applications, database management and previous experience utilizing laptop technology for communication purposes including accessing rate, credit and loan status information.
• Solid time management skills and the ability to organize, prioritize and perform multiple tasks simultaneously.
• Ability to analyze and comprehend complex financial data and provide financial alternatives.
• Professionalism and effective interpersonal skills.
• Excellent communication skills in English, both verbal and written.
• Solid understanding of all business processes within the Credit Union.
• Ability to meet requirements to be bonded.
• Able to work in a general office environment.
• Able to complete all assignments with minimal supervision.
• Strong commitment to providing excellent service to Truliant’s members.

Physical Requirements

• Occasional standing, walking, bending, and stooping required.
• Must be able to sit at a desk for long periods of time and use a computer.
• Must be able to moderately lift or move up to 5 pounds and occasionally lift or move up to 10 pounds.
• Occasional travel required between MFC’s.

Education And Background

• Bachelor’s degree in Business or Finance or related experience with loan processing, or financial services preferred.
• Must pass the NMLS-developed S.A.F.E. Mortgage Loan Originator Test with a score of 75% or better within one year, or demonstrate equivalent proficiency based on industry experience.
• Minimum of 1 year residential mortgage lending experience with a focus on generating self-sourced business required.