Mortgage Loan Officer

Job Title: Mortgage Loan Officer Department: Mortgages

Reports to: Mortgage Lending Manager Classification: Exempt

Job Summary:

The Mortgage Loan Officer plays a pivotal role in proactively soliciting new mortgage business and promoting the Credit Union’s products to achieve loan quality and production goals. The Mortgage Loan Officer supports the strategic initiative to grow the mortgage business through the origination of long-term real estate mortgage loans, while consistently delivering exceptional service to both members and potential members. The Mortgage Loan Officer conducts initial pre-qualification interviews and meticulously prepares complete loan application packages, ensuring all necessary documentation is included. Additionally, the officer communicates policies for extending credit in alignment with Credit Union and Secondary Market investor guidelines. Responsibilities include meeting mortgage loan scheduling and documentation requirements, as well as production expectations set by the VP of Lending. The officer serves members, prospective members, builders, developers, and Realtors with prompt and professional service, ensuring their needs are met efficiently. Furthermore, the officer performs all duties in compliance with regulatory requirements, including but not limited to the Bank Secrecy Act. The officer also assists mortgage loan personnel as needed, contributing to the overall success and smooth operation of the mortgage loan department.

Duties/Responsibilities:

Knowledge and Participation

• Possesses comprehensive knowledge of Credit Union loan policies, products, procedures, processing, and underwriting guidelines.
• Keeps up-to-date with changes in lending standards, legal requirements, and trends in the local real estate and competitive market.
• Ensures lending functions are performed in accordance with established Credit Union policies and legal and regulatory requirements.
• Understands the foundation of determining credit worthiness.
• Attends and participates in meetings and committees as required.

Mortgage Loan Operations

• Uses independent business judgment and discretion in granting loan applications that benefit both the applicant and the Credit Union.
• Interviews members to collect information, takes applications, and processes preliminary documentation on loan requests.
• Assumes responsibility for the effective and professional completion of assigned loan origination functions.
• Counsels members on money management and financial matters.
• Counsels members whose loan requests were denied, explaining reasons and alternatives.
• Performs follow-up work to achieve conditional approval within established time frames.
• Ensures loan documentation, files, and related reports are complete, accurate, and timely.
• Submits monthly reports as scheduled.
• Analyzes and evaluates loan applications and related financial data closely and effectively.
• Completes lending operations in accordance with established Credit Union policies and legal requirements.  
• Maintains effective communication and coordination with Credit Union personnel and management, providing assistance as needed.  
• Coordinates functions with related departments and branches, providing support as needed.
• Assists mortgage loan personnel and serves as a backup as needed.
• Keeps management informed of area activities and any significant problems.
• Completes required records and reports.
• Assumes responsibility for related duties as required or assigned.

Member Service

• Educates and advises members on the home buying process and mortgage loan options, discussing loan alternatives, credit criteria, interest rates, and loan documentation.  
• Advises members of loan approval or denial, explaining denials clearly.

Problem Solving

• Notifies members of problem ratios, credit ratings or title problems and advises on potential options.
• Answers questions, resolves problems, and informs members of Credit Union loan policies and services.

Sales

• Generates production by establishing a business development call program to solicit new mortgage loan business from realtors, builders, members, and other entities.
• Makes regular outside visits to foster relationships that increase mortgage loan applications.
• Identifies and recommends product and service offerings to meet member needs and Credit Union goals.
• Represents the Credit Union during outside business development calls.
• Post on Denim Social on a regular basis.
• Ensures Credit Union services are cross-sold professionally.
• Meets or exceeds established individual production expectations.

WCCU/TCCU Values:

• Uses best business judgment to consult with members about financial goals and objectives.
• Serves as a trusted source for financial solutions, delivering extraordinary service and value.
• Establishes ongoing financial services relationships and encourages continued member engagement with the Credit Union.
• Maintains effective and professional business relations with members, realtors, and building professionals.
• Projects and maintains the Credit Union's professional reputation.
• Ensures that the work area is clean, secure, and well-maintained. Adheres to the Clean Desk Policy to ensure the security of the desk area.
• Safeguards Credit Union property such as laptops, cell phones, and mobile technology devices.
• Ensures good business relations with members and professionals, thoroughly explaining programs and services and courteously answering questions.

Required Skills and Abilities:

• Strong interviewing skills.
• Excellent communication and public relations abilities.
• Good analytical and financial skills.   
• Proficiency with related computer applications, calculator, and other basic business equipment.
• Familiarity with title reports, insurance, and appraisals.

Education and Experience:

• Associate’s degree or equivalent work experience.
• Additional coursework in business or related field preferred. 
• Experience in outside sales and/or business development is helpful.
• This position requires registration under the National Mortgage Licensing System (NMLS) as a Mortgage Loan Officer (MLO).

Physical Requirements:

• Talking: Frequently required to convey detailed or important instructions or ideas accurately, loudly, or quickly.
• Average Hearing: Able to hear average or normal conversations and receive ordinary information.
• Repetitive Motion: Frequent and regular movements required using the wrists, hands, and/or fingers.
• Average Visual Abilities: Necessary to prepare or inspect documents or products or operate machinery.
• Physical Strength: Sedentary work; sitting most of the time. Exerts up to 10 lbs. of force occasionally.

Employee signature below indicates the employee's understanding of the requirements, essential functions, and duties of the position.

Employee______________________________________ Date__________________