Mortage Loan Originator

Mortgage Loan Originator

Responsible for originating conventional, VA, and FHA mortgage loans, as well as construction, second mortgages, and HELOCs. Conducts initial prequalification interviews, prepares complete loan application packages, and gathers all necessary documentation. Communicates and applies Credit Union and secondary investor lending policies to ensure sound credit decisions are made. Reviews and evaluates loan applications for completeness and compliance with relevant regulations. Provides mortgage support services, assisting members with inquiries, maintaining accurate records, and performing related administrative duties. Keeps all involved partiesborrowers, Realtors, title companies, and other stakeholdersinformed throughout the process.

In addition to providing exceptional mortgage lending services, the Mortgage Loan Originator is expected to generate immediate loan production by leveraging an established book of business or strong referral network. The successful candidate will actively develop and maintain relationships with realtors, accountants, attorneys, and other community professionals to build and sustain a consistent pipeline of mortgage opportunities.

Major Duties and Responsibilities :

• Assumes responsibility for the effective and professional completion of assigned loan origination functions. Interviews, takes applications, and processes 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. Performs follow-up work as necessary to achieve conditional approval within established time frames. Notify member if loan is referred back to Officer because of problem ratios or credit ratings. Advises members of loan approval or denial. Explain loan denials precisely and clearly to members.
• Assumes responsibility for providing effective clerical support for all phases of mortgage loan activities. Reviews for new loan applications. Orders, credit reports, and title reports from vendors/providers approved by the VP of Lending. Logs of dollar amounts received and verified employment, salary, assets, and liabilities. Resolves loan application problems. Assists applicants with addressing credit report problems, low appraisals, low salary levels, and high debt ratios. Reviews information for completeness and accuracy. Clarifies missing or questionable information. Follows up with outside sources of outstanding documents. Ensure that all necessary items are available for underwriting. Tracks development of information to ensure compliance with underwriting guidelines. Resolves conditions of underwriting. Submit all loan files with original documentation to the mortgage loan department within 3 business days of the application. Communicates status of loans to buyer, seller, realtor, and title company. Obtains information for homeowner's insurance from borrower. Calculations closing costs. Prepare monthly sales reports for the Mortgage Manager. Prepares miscellaneous correspondence and records.
• Assumes responsibility for establishing and maintaining professional business relationships with members and mortgage professionals. Resolves (or refers) requests and problems promptly and courteously. Answers loan questions regarding applications in the process of approval, payments, balances, and insurance requirements. Keeps members and realtors properly informed of Credit Union policies and procedures. Notify members of additional information required. Maintains and conveys the Credit Union's professional reputation.
• Assumes responsibility for establishing and maintaining effective coordination and communication with Credit Union personnel and with management. Assists and supports Mortgage Loan personnel as needed. Completes reports and records promptly and
• Assumes responsibility for related duties as required or assigned. Performs miscellaneous clerical functions as needed. Keeps work area clean, secure, and well maintained. Replace absent Mortgage Loan personnel as required. Professionally cross-sells Credit Union services.
• Keeps informed of current trends in mortgage lending and market factors affecting mortgage lending.

Expectations :

• To meet the minimum established individual goals each month.
• Compliance with federal regulations (RESPA, TILA, HMDA, Fair Lending)
• To ensure all approved loans comply with established loan standards and have zero errors.
• To sell assigned volume of credit union products and services.
• To maintain a professional, courteous, and friendly atmosphere for members and co-workers.
• To demonstrate a working knowledge of all mortgage products and rates, both within the credit union and from the industry overall.
• To maintain a dependable record of attendance and timeliness.
• To troubleshoot and resolve members and internal inquiries in a timely, friendly and accurate manner.

Requirements

Knowledge and Skills :

• Experience Two years to five years of similar or related experience.
• Education A two-year college degree or completion of a specialized course of study at a business or trade school.
• Interpersonal Skills A significant level of trust and diplomacy is required, in addition to normal courtesy and tact.
• Work involves extensive personal contact with others and/or is usually of a personal or sensitive nature. Work may involve motivating or influencing others. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary.
• Other Skills Knowledge of the secondary market and experience with first and second mortgage residential real estate lending.