The Mortgage Loan Originator proactively solicits outside mortgage business to meet established loan quality, production and service goals. MLO’s continually identify, develop and maintain a quality network of business relationships that serves as a recurring source of referrals for new mortgage lending opportunities. A MLO’s network may consist of real estate professionals, builders, professional and personal contacts, as well as other valuable referral sources, and is enhanced by the mortgage loan officer’s regular participation in business related development opportunities & community efforts. Responsible for origination of all mortgage loan products and programs the MLO responds to member inquiries and referrals that are generated from both their own contacts and from other business channels. The MLO conducts interviews with prospective borrowers to analyze financial and credit data, determine financing objectives, advise members of product/pricing policies and guidelines, and gather any additional required information and/or documentation. The MLO ensures exceptional service by maintaining thorough knowledge of lending programs, policies, procedures and regulatory requirements, demonstrating a commitment to professional ethics, complying with all Federal and State compliance policies and adhering to HMDA requirements.
1. Assumes responsibility for the effective and professional completion of assigned loan origination functions.
a. Possesses a complete knowledge/understanding of the mortgage loan products offered. This includes but is not limited to the standard secondary market loan programs expanded criteria, investment property and America First Loan programs.
b. Possesses a complete knowledge/understanding of Mortgage origination software systems, as expected of this position.
c. Interviews, pre-qualifies, completes application documents, and analyzes preliminary documentation for loan requests. Discusses loan alternatives, credit criteria, interest rates, and loan documentation. Explains mortgage process, time frames to expect and lock in procedures thoroughly. All in such a manner as to elicit a shared understanding and positive responses from members.
d. Performs follow-up work as necessary to achieve conditional approval within established time frames.
e. Works to resolve loans referred by Underwriting or Automated Underwriting System within established time frames. Discusses loan alternatives with member thoroughly, together arriving at a conclusion as to what action is to be taken next on loan request.
f. Understands and completes lending operations in accordance with all applicable federal and state mortgage regulations,, NCUA and established Credit Union policies and requirements. Stays informed as to changes thereto.
2. Assumes responsibility for meeting loan production and service expectations as established.
a. Possesses a complete understanding of production and service expectations of position.
b. Creates and actively maintains a result oriented, assertive MARKETING PLAN.
c. Drafts, executes and revises MARKETING PLAN as needed, in a well-organized, professional manner.
d. Achieves and maintains a level of proficiency which meets expectations of position.
3. Assumes responsibility for establishing and maintaining effective and professional business relations with members, realtors, builders, co-workers, and other industry professionals.
a. Attentively answers questions and resolves problems.
b. Counsels members regarding money management and financial matters.
c. Provides relevant and timely updates with all involved parties
c. Works effectively with processing and underwriting teams
d. Projects the Credit Union's professional image by maintaining a clean, secure and well-maintained desk/ work area, and follows Credit Union/Department dress code.
d. Stays informed regarding changes and trends in the local real estate and competitive lending market.
4. Assumes responsibility for establishing and maintaining effective communication and coordination with Credit Union personnel and with management.
a. Coordinates functions with related departments and branches, providing support as needed.
b. Functions as an essential constituent of the Mortgage Department.
c. Keeps management informed of area activities and of any significant problems.
d. Attends and participates in meetings and committees as required.
e. Completes required records and reports in a timely manner.
e. Provides support to the mortgage team as required for business development.
f. Mentor others with mortgage knowledge.
5. Assumes responsibility for related duties as required or assigned.
a. Professionally cross-sells Credit Union services.
b. Completes special projects as assigned.
· Associate degree in business or related field or an equivalent combination of formal training and experience.
· Qualifies under Federal and State standards for licensing.
· Understanding of the foundation of determining credit worthiness and borrower qualification.
· Knowledge of Credit Union loan policies, products, procedures, processing, and underwriting guidelines.
· Familiarity with title reports, insurance, and appraisals.
· Knowledge of Mortgage Investor selling guidelines and requirements.
· One to two years of mortgage loan originating experience.
· One to two years of related mortgage loan processing experience.
· Mortgage lending sales experience.
· Real estate background helpful.
· Strong interviewing skills.
· Ability to interact effectively with staff to direct workflow, assess performance, assign duties and achieve desired outcomes.
· Ability to create, execute and revise a Marketing Plan as needed.
· Excellent communication and public relations abilities.
· Good analytical and financial skills.
· Ability to work in a fast paced, deadline driven environment and under pressure as needed.
· Able to operate related computer applications, calculator, and other basic business equipment.