Role
The Mortgage Loan Officer is responsible for proactively soliciting new residential mortgage loans to meet established loan quality and production goals of AlaTrust Credit Union {The Loan Headquarters}. This position will handle branch and call center generated referrals along with self-generated referrals. This position will develop and maintain long-term relationships with members, approved organizations, realtors, other referral sources, and communities we serve to ensure recurring mortgage loan prospects and referrals. Incumbent must be familiar with all mortgage types including: Government (FHA, VA, USDA), conforming, non-conforming portfolio, home equity, land, Construction-Perm, etc.
Major Duties and Responsibilities
- Creates and generates leads and loan applications from various referral sources and COIs to meet mortgage production goals.
- Receives, screens, and processes loan applications; requests applicant credit, gathers and reviews all necessary documentation necessary to process the loan application in a timely manner. Provides adequate information to the Credit Committee for loan consideration.
- Works directly with the applicants, realtors, attorney’s, internal processor(s) to ensure strict deadlines are met.
- Responds to inquiries from prospective members regarding all types of mortgage and construction loans, provides requested information regarding the organizations lending policies and procedures.
- Also responds to post-closing servicing related inquiries from members for escrow, tax information, payment reconsolidation questions, etc…
- Works directly with investors to ensure loans and processed and booked to investor guidelines and all deadlines are met. Balance loan transactions, coordinate with 3rd parties, overall acts as an intermediary between investor(s) and all other parties.
- Cross-sells members additional Credit Union products including preauthorized payment plan, car loans, credit cards, checking, online banking, etc…
- Create and maintain reports as needed for senior management and the CU Board as requested.
- Maintains close relations with others in the real estate community, home builders, appraisers, and attorneys to be knowledgeable about market trends and to build network of professionals.
Knowledge & Skills
- Experience - Experience with Federal Housing Authority (FHA), Veterans Affairs (VA), US Department of Agriculture (USDA), and Federal National Mortgage (Fannie Mae), construction loans, home equity, and raw land. Also, must have experience working in a team environment, including branch staff, processors, closers, investors, etc..
- Education/Certifications/Licenses - Must have an active NMLS license or be able to secure one within 60 days of hire. Incumbents are required to maintain their registration active, and current, with the National Mortgage Licensing System throughout their employment.
- Other Skills - Is responsible for a width of information including but not limited to: the organizations current mortgage loan interest rates, commitment/rate lock/relock fee procedures, consumer loan products/rates/guidelines that are used in conjunction with Mortgage Lending. Experience with Mortgage Origination software, (Byte, Encompass, Optimal Blue, etc.) a plus