Mortgage Loan Originator

Essential Duties and Responsibilities

• Interviews mortgage loan applicants and analyzes the information received to recommend the correct product for the applicant.
• Submits the mortgage loan application to an automated underwriting system for approval. Documents the loan file with accurate information and complies with all underwriting requirements as stated on the automated underwriting decision sheet.
• Prepares directions for the Loan Processor pertaining to the information that will be required to perfect the mortgage loan sale to the secondary market.
• Communicates to the applicant, real estate agent, etc., the status of the mortgage application.
• Develops and promotes good public relations within the Real Estate community and with the member base of the Sioux Falls Federal Credit Union, etc.
• Reviews the completed file to assure that all mortgage processing functions are completed before and after closing for proper documentation and salability of the loan to the secondary market. Perfects the loan documentation for purchases for any loans which are suspended.
• Keeps updated and current on all mortgage products, procedures, and policies.
• Makes recommendations of needs for review or changes of policies and procedures relating to the mortgage lending process to the AVP Mortgage Services.
• Is knowledgeable about all products available at the Credit Union and actively cross-sells products to qualified members.
• Affords assistance to the Marketing Department in the promotion and development of mortgage-related products.
• Affords assistance in the collection of payments for all in-house mortgages which the loan officer originates.

Qualifications

• Four-year degree in business or a related field or two-three years related mortgage lending experience and/or training or an equivalent combination of education and experience.
• Ability to read, analyze, and interpret financial data, general business information and periodicals, professional journals, technical procedures, or governmental regulations.
• Ability to write reports, business correspondence, and procedure manuals.
• Ability to effectively present information and respond to questions from managers, members, and the general public.
• Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages.
• Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists.
• Knowledge of Internet, Spreadsheet, and Word Processing software.
• Knowledge of automated underwriting software.
• Knowledge of policies, regulations and procedures for regulatory and investor agencies as they pertain to the mortgage lending industry such as but not limited to knowledge pertaining to FHA, VA, Conventional and Rural Development guidelines and regulatory compliance.