As a Mortgage Loan Originator, you will be responsible for initiating the residential mortgage process for potential members, preparing, analyzing, and verifying mortgage loan applications for the purchase or refinance of real estate. Accountable for originating first and second mortgages by soliciting new residential mortgage business from external sources to include, but not limited to, realtors, builders, and other referral sources. Maintain outside working relationships and promote the Credit Union's products and services.
Direct Reports: None
HOW YOU WILL MAKE AN IMPACT
- Meets with and interviews potential and current members to understand their lending needs including first mortgages and refinance of existing loans. Explains the differences between and approval requirements of various types of mortgages; prepares and presents a lending package based on member specifications. Assists members with completion of mortgage applications, inspecting completed documents for accuracy and thoroughness.
- Reviews loan applications, gathers credit histories and reports, and assesses applicants’ capacity to repay and default risk. Originate residential mortgage loans in applicable systems, provide disclosures and required documentation, obtains proper signatures following regulatory timeline requirements. Keeps members and realtors up to date on the status of their loan application. Attends title company closing, as needed.
- Identifies cross-sell opportunities and educates members on credit union products and services. Meets required annual cross sales expectations on an ongoing basis. Follows up on internal referrals.
- Maintains and strengthens relationships with existing member base. Follows up with members after closing to identify additional needs or to answer questions. Returns member phone calls and emails the same day, but no later than the next business day, after the message is received.
- Maintains knowledge of trends and developments in the local real estate market; current and predicted lending rates; and changes in rules, regulations, and best practices of various mortgages.
- Develops and maintains contacts with local realtors, developers, and builders to promote and encourage the use of Credit Union services for residential mortgages.
- Works with various mortgage staff members to validate the underwriting worksheet to include, but not limited to, aggregate borrowing totals, purpose, cash flows and ratios. Submit loans to processing over to Underwriting staff. Provide assistance in the documentation, processing, and closing of mortgage loans.
- Performs other duties as assigned.
- Must comply with all company policies and procedures, applicable laws, and regulations, including but not limited to the Bank Secrecy Act, the USA PATRIOT Act, the Office of Foreign Assets Control, Home Mortgage Disclosures (HMDA), Servicemembers Civil Relief Act (SCRA), and Military Lending Act (MLA). Assists the Credit Union to be in compliance with all current and pending applicable rules, laws and regulations.
WHAT YOU WILL NEED TO SUCCEED
Experience
3+ years mortgage loan, sales, or related experience. Experience with Federal Housing Authority (FHA), Veterans Affairs (VA), and Federal National Mortgage (Fannie Mae), construction loans, bridge loans, and reverse mortgage loans is required.
Education / Certifications / Licenses
This level of knowledge is acquired through completion of a required Bachelor's degree in Finance, Business Management, Business Administration or related field. NMLS and State Licensing Required: Incumbents are required to maintain their registration active, and current, with the National Mortgage Licensing System throughout their employment. Must have and maintain a valid driver's license.
PREFERRED SKILLS
- Excellent interpersonal and customer service skills.
- Excellent organizational skills and attention to detail.
- Thorough understanding of Federal Housing Authority (FHA), Veterans Affairs (VA), Federal National Mortgage (Fannie Mae), and other types of construction and conventional loans.
- Professional level of verbal and written communication skills are essential to the position.
- Advanced proficiency in Microsoft Office (Outlook, Word, Excel, PowerPoint).
- Demonstrated knowledge of Credit Union regulations, products, policies, procedures, and services.
- Advanced and comprehensive knowledge of all product offerings.
- Ability to deal with complex problems involving multiple facets, variables, and situations.
- Ability to provide world class member service while executing Interra’s vision, mission, and delivery of Core Values.
INTERPERSONAL SKILLS
- The ability to motivate or influence internal or external senior level professionals is a critical part of the job, requiring a significant level of influence and trust.
- Obtaining cooperation and agreement on important outcomes via frequently complex, senior level dialogues, as well as a professional level of written communication skills are essential to the position.
COMPETENCIES
- Balance Stakeholders - Understands the needs of diverse stakeholders and the underlying motivations driving those needs, including cultural and ethical factors. Acts fairly in the decision-making process when faced with conflicting demands of stakeholders.
- Drive Results - Consistently accomplishes goals even under adverse conditions. Has a strong bottom-line orientation. Pushes self and helps others achieve results.
- Functional Expertise - Possesses a sufficient level of technical and professional skill or knowledge in position-related areas; keeps up with current developments and trends in areas of expertise; actively seeks ways to grow and be challenged using both formal and informal development activities.
- Integrity and Trust - Is widely trusted; is seen as a direct, truthful individual; has credibility within their areas of expertise; keeps confidences; doesn’t misrepresent themselves for personal gain.
- Interpersonal Savvy - Relates to and can connect with diverse individuals and groups at all levels within the organization. Externally, builds appropriate relationships and rapport with members and external partners.
- Member Focus - Builds and maintains collaborative relationships with internal and external members which result in member satisfaction with both the process and the outcome.
ADA REQUIREMENTS
Physical Requirements
- Perform primarily sedentary work with limited physical exertion and occasional lifting of up to 5 lbs.
- Must be capable of climbing / descending stairs in emergency situation.
- Must be able to operate routine office equipment including CRTs, typewriters, telephone, copier, facsimile, and calculator.
- Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary.
- Must be able to work extended hours and travel whenever required or requested by management.
- Must be capable of regular, reliable, and timely attendance.
Working Conditions
- Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.
Mental and/or Emotional Requirements
- Must be able to perform job functions independently and with limited supervision.
- Must work effectively as part of a team.
- Must be able to read and carry out various written instructions and follow oral instructions.
- Must be able to speak clearly and deliver information in a logical and understandable sequence.
- Must be able to perform basic financial calculations with accuracy.
- Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of member service and discretion when dealing with the public.
- Must be able to perform responsibilities with composure under stress of deadline, requirements for extreme accuracy and quality and/or fast pace.
- Must be capable of exercising highest level of discretion on confidential matters.
ACKNOWLEDGEMENT
Nothing in the position description restricts management’s right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This Job description is not a contract and should not be constructed as a guarantee of employment for any period of time. Interra Credit Union is an Equal Opportunity Employer and does not discriminate against employees or applicants based on race color, religion, sex/gender, national origin, disability, age, or any other category protected by law.
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