Equity Loan Officer

Job Summary:

The Equity Loan Officer (ELO) is responsible for educating, advising, and guiding members through the Equity Loan and Home Equity Line of Credit (HELOC) application process while providing exceptional member service throughout the lending experience. The ELO will develop and maintain relationships with assigned branch locations, members, and Credit Union staff to identify lending opportunities, generate referrals, and originate equity loan products.

This position will assess member needs, explain available loan options, collect and review required documentation, communicate loan status and underwriting decisions, and ensure all activities are completed in accordance with Credit Union policies, regulatory requirements, and established management service level standards. The ELO is expected to achieve established monthly production goals, actively participate in Credit Union sales and community events, and promote Credit Union products and services while maintaining a high level of professionalism, accuracy, and compliance.

Duties & Responsibilities:

• Respond to member inquiries regarding Equity Loans, Home Equity Lines of Credit (HELOCs), and other consumer real estate lending products, explaining available loan options, eligibility requirements, rates, terms, and the application process.
• Respond promptly to all member referrals and new loan applications by making timely follow-up calls in accordance with established service level standards and management turnaround time requirements.
• Report to assigned branch locations on a regular basis as directed by management to maintain a visible presence, engage with members and branch staff, cultivate referral relationships, identify lending opportunities, and originate Equity Loans and Home Equity Lines of Credit while providing exceptional member service.
• Refer first mortgage purchase and refinance opportunities to a Mortgage Loan Officer in accordance with departmental procedures while maintaining a positive member experience.
• Communicate with members throughout the loan process to provide an overview of the lending process, collect necessary information, provide timely status updates, and communicate underwriting decisions while adhering to established management service level standards for member calls, follow-up, and turnaround times.
• Communicate underwriting decisions, loan denials, counteroffers, and available lending alternatives to members in accordance with Credit Union policies and applicable regulatory requirements. Refer members to financial counseling resources, including GreenPath, when appropriate.
• Report to assigned branch locations on a regular basis as directed by management to maintain a visible presence, engage with members and branch staff, cultivate referral relationships, identify lending opportunities, and originate Equity Loans and Home Equity Lines of Credit while providing exceptional member service.
• Maintain working knowledge of equity pricing and guidelines as well as related software applications.
• Meet or exceed established monthly loan production goals and performance expectations while delivering exceptional member service and maintaining compliance with all applicable lending policies and regulatory requirements.
• Conduct loan closings with members on Equity Loans and Equity Lines of Credit.
• Participate in Credit Union-sponsored events, branch promotions, community outreach activities, and other business development initiatives to promote the Credit Union's lending products and services, generate referral opportunities, and strengthen member relationships.
• Ensure compliance with all applicable federal and state lending regulations, including but not limited to TRID (when applicable), ECOA, Fair Lending, HMDA (if applicable), Flood Insurance regulations, SAFE Act, and Credit Union policies.
• Maintain personal information up-to-date in the NMLS registry within 30 days of a change.
• Performs other duties as assigned by management.

Skills:

• Strong organizational skills with the ability to manage multiple priorities, meet established deadlines, and adhere to management service level and turnaround time requirements.
• Excellent verbal and written communication skills with the ability to effectively communicate loan requirements, lending options, underwriting decisions, and processes to members and Credit Union staff.
• Strong problem-solving and troubleshooting skills with the ability to identify issues, provide solutions, and escalate matters appropriately.
• Customer service-oriented with strong relationship-building skills and the ability to deliver an exceptional member experience.
• Demonstrated sales skills with the ability to identify lending opportunities, develop referrals, promote Credit Union products and services, and achieve established monthly production goals.
• Ability to establish and maintain effective working relationships with branch staff, members, and internal departments.
• Understanding of local, state, and federal lending regulations, including applicable mortgage and equity lending requirements.
• Ability to understand and apply lending policies, procedures, underwriting guidelines, and product requirements.
• Detail-oriented with the ability to accurately review loan documentation and ensure completeness and compliance.
• Ability to learn and effectively utilize loan origination systems, document management systems, and other lending technology platforms.
• Proficiency with Microsoft Office applications and general computer systems.