Mortgage Loan Officer

POSITION SUMMARY:  Uses knowledge based on experience to develop and manage the credit union's mortgage lending function, maximizing revenue from fees and the sale of loans on the secondary market.  This may require involvement in activities outside of the credit union’s normal business hours.  Also makes home improvement loans, home equity loans, and unimproved property loans.

PRIMARY RESPONSIBILITIES

• Aggressively promotes community awareness of 1st Community FCU's mortgage lending programs.  Participates in professional organizations and community functions as the credit union's representative. Works with the SVP of Marketing to develop marketing plans. Also promotes other programs, such as home improvement loans, home equity loans, and unimproved property loans.
• Develops procedures to ensure mortgage, home improvement, home equity, and unimproved property loans are packaged according to credit union policy and industry standards. 
• Recommends operational policies for mortgage lending, including home improvement, home equity, and unimproved property loans.
• Answers members' questions regarding mortgage loan options or the lending process.
• Interviews, counsels and takes mortgage loan applications from members. Pre-qualifies member for compliance with credit union or investor guidelines, qualifying ratios, employment history and source of sufficient funds to close the loan. 
• Reviews all mortgage applications for approval or denial based on policy and knowledge.
• Maintains contact with the member throughout the loan process. Calls or sends status information to keep all parties aware of what is happening on the loan.
• Verifies income, employment, and outside credit references.  Ensures information is accurate on the application in the lending system.
• Verifies documentation necessary for properly executed contract, perfection of lien, and appropriate insurance for all collateral
• Informs members of denials in writing and verbally in accordance with consumer regulations as needed and provides minor financial counseling if appropriate.
• Works with applicants using any communications medium.
• Complies with all applicable laws and regulations.
• Answers questions related to rates, policies, balances, payments, and other lending issues. Researches and resolves problems with loan accounts.
• Supervises mortgage loan processor and performs annual performance evaluations.
• Follows the expectations set in the Member Service Values.
• Supports management through words and actions.
• Performs other duties as assigned.

Education: High school diploma or equivalent. Two-four years College course work in real estate finance or related field preferred.

Experience: Three or more years of successful financial institution lending or mortgage experience preferred. Additional experience may be substituted for education at the discretion of the President.

Salary : $53,371