The Mortgage Loan Officer is responsible for developing referral contacts from Dover FCU branches and other leads sources, co-workers, Member Business loan officers, Community Development Officers, vendor booths/tables, financial literacy education, and other internal lead sources. The Mortgage Loan Officer will maintain their own integral pipeline, with a minimum monthly requirement for volume, conduct loan interviews council members and offer financial alternatives while providing superior service throughout the entire process.
Essential Functions:
- Attracts new mortgage loan applications by developing relationships within the branches and the community, and following up on leads.
- Examples of business development activities should include but not limited to attending chamber events, supporting marketing functions such as vendor booths/tables, and participating in member financial literacy initiatives, interact with coworkers and members within the branch, pass out business cards, and developing relationships with external leads sources.
- Identifies business development opportunities with prospects or current members and markets and provides counsel on the credit unions’ products and services.
- Conduct a thorough loan interview with members to identify their financial needs, recognize potential sales opportunities, and originate loan applications. Act as the point of contact for the duration of the loan. Issue pre-approvals as appropriate, run information through mortgage software to create findings, collect required documents, order title and appraisal reports, work with internal and mortgage vendor’s processor to meet underwriter requirements, and ensure a smooth loan process for applicants.
- Meet or exceed established mortgage sales goals as well as cross-sell other CU deposit and loan products while maintaining high standards of client satisfaction and quality.
- Review mortgage referral results with branches, lending, and Member Experience Management.
- Expedite loans in process by regularly reviewing pipeline, following up on documentation with borrowers, interacting with title companies, realtors, attorneys, etc.
- Attend regularly recurring pipeline meetings with lending management and mortgage vendors.
- Develop, maintain, and utilize an in-depth knowledge of products and services as well as knowledge of competitor’s rates and product offerings and report information to lending management as appropriate.
- Updates job knowledge by participating in educational opportunities, reading professional publications, maintaining personal networks, and participating in professional organizations.
- Continue education and training of company, state, federal and investor requirements and guidelines. Meet necessary requirements to continuously maintain NMLS registration.
- Insures all appropriate disclosures and required documentation are issued within the required timeframes to meet governmental compliance standards including HMDA, RESPA, Reg Z and WCU lending policies.
- Excellent external and internal member service and relationship management skills with the ability to convey a positive attitude and maintain a high degree of confidentiality, diplomacy, and tact.
- Superb sales, negotiating and critical thinking skills.
- Excellent organizational skills with proven ability to prioritize and manage workload with the ability to instill a sense of urgency in others as necessary to meet deadlines.
- 50% travel expected including meeting with applicants, visiting branch locations and referral sources to develop leads, and attending various networking events.
- Other duties as assigned.
Note: The list of essential functions is not exhaustive.
Requirements:
- Minimum of 3 years mortgage lending experience.
- Working knowledge of FNMA, FHLMC, FHA, VA, TIL regulations, Equal Credit Opportunity Act, RESPA regulations, local and state real estate and finance laws.
- Demonstrated sales ability and service techniques, including tele-consulting, prospecting, and networking.
- NMLS required, or ability to get within 60 days of hire.
- Excellent verbal and written communication skills.
- Strong computer skills including Microsoft Outlook, Excel, Word, PowerPoint.
- Strong financial acumen.
PHYSICAL REQUIREMENTS:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is frequently required to sit, use hands to finger, handle or feel, reach with hands and arms, and talk or hear. The employee is occasionally required to stand, walk, bend, kneel, and reach above or at shoulder level. The employee must occasionally lift/push/pull and/or carry up to 25 pounds.
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