What are the responsibilities and job description for the Mortgage Loan Officer position at Self-Help Credit Union?
Job Description
We are seeking a Mortgage Loan Officer to join our Chatham, IL team!
Mortgage Loan Officers provide information on credit union products and services to potential borrowers according to all credit union policies and procedures as well as Federal and State rules and regulations. Interviews all applicants for real estate loans. Prepares, analyzes, processes and documents all required forms and related documents for real-estate loans. Approves or denies loan applications based on analysis of each applicant's background. Responsible for promoting credit union products and services to ensure meeting productivity goals.
What You'll DO
LOAN MANAGEMENT/BORROWER ADVISEMENT
MIN $56,770 MID $70,962 MAX $79,584
Self-Help is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.
Company Disclaimer
Self-Help is committed to providing equal employment opportunities to all persons, regardless of race, religion, religious creed, color, national origin, ancestry, physical disability, mental disability, medical condition, genetic information, marital status, sex, gender, gender identity, gender expression (including transgender status), age, sexual orientation, military and veteran status, class or family status.
We are seeking a Mortgage Loan Officer to join our Chatham, IL team!
Mortgage Loan Officers provide information on credit union products and services to potential borrowers according to all credit union policies and procedures as well as Federal and State rules and regulations. Interviews all applicants for real estate loans. Prepares, analyzes, processes and documents all required forms and related documents for real-estate loans. Approves or denies loan applications based on analysis of each applicant's background. Responsible for promoting credit union products and services to ensure meeting productivity goals.
What You'll DO
LOAN MANAGEMENT/BORROWER ADVISEMENT
- Meet with loan applicants to discuss viable mortgage options, counsel on credit and budget, develop roadmap and process for mortgage approval and assist with the loan application process. Achieve productivity goal as set forth by manager.
- Prequalify loan applicants by examining all borrower information and documentation, assessing creditworthiness, adequacy of income, credit and collateral and calculating repayment risk. Determines the maximum purchase price/loan amount based on borrower data. Approve or deny real-estate loan applications that do not meet pre-qualification standards and explain reasons for denial.
- Gather and review necessary data to complete the loan review process including credit bureau reports; verifying debts and estimating monthly payments for any outstanding debts not listed on application and ensuring they are added to application.
- Comply with all federal and state mortgage regulations and disclosure requirements.
- Prepare mortgage loan application and documentation for underwriting and closing. Ensure that each real-estate loan is processed accurately, troubleshoot any issues that may arise during the processing period, and maintain communication with borrower throughout processing period, as needed.
- Develop mortgage loan business through continual identification, development and maintenance of a quality network of business relationships that serves as a recurring source of referrals for new mortgage lending opportunities. This network may consist of Real Estate professionals, builders, and professional contacts, as well as other valuable referral sources enhanced by regular participation in business related development opportunities, community efforts to promote homeownership and professional organizations.
- High School Diploma. Bachelor's degree preferred.
- 2 years’ of experience in mortgage, banking or other relevant experience.
- Experience in consumer lending preferred.
- Ability to represent Self-Help in networking functions and to develop and maintain key realtor and other relations that generate attractive loan/borrower referrals.
- Strong analytical and quantitative skills and ability to independently handle loan applications and assess borrower ability to successful repay loans.
- Ability to consistently follow guidelines for file quality.
- Ability to consistently meet productivity goals.
- Ability to secure and maintain NMLS certification.
- Ability to work collaboratively on team
- Sensitivity to issues of low-wealth borrowers and a desire to work in a racially and socially diverse organization
- Strong organization, computer and customer service skills
- Strong communications skills including strong writing skills and presentation skills.
- Ability to travel and work evenings and weekends as needed
- Bilingual Spanish/English a plus.
- Proficiency with Word, Excel and PowerPoint
- Strong commitment to our mission – creating economic opportunity for traditionally underserved communities.
- Preference for working in organizations that place priority on teamwork and collaboration.
- Mission Before Self
- Service With Excellence
- Embracing & Promoting Change
- Results Not Credit
- Diversity as a Strength
- Financial Sustainability for Mission Impact
MIN $56,770 MID $70,962 MAX $79,584
Self-Help is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.
Company Disclaimer
Self-Help is committed to providing equal employment opportunities to all persons, regardless of race, religion, religious creed, color, national origin, ancestry, physical disability, mental disability, medical condition, genetic information, marital status, sex, gender, gender identity, gender expression (including transgender status), age, sexual orientation, military and veteran status, class or family status.
Salary : $56,770 - $79,584