What are the responsibilities and job description for the Mortgage Loan Originator position at St. Mary's Bank?
Overview
Under the direction of the Director of Residential Lending, the Mortgage Loan Officer is responsible for assisting members in obtaining mortgage loans and ensuring a smooth, efficient, and positive lending experience. Cross-sell applicable products and services to meet credit union goals.
Key Responsibilities
• Assess members financial situations and provide tailored mortgage solutions.
• Conduct thorough analyses of applicants' credit histories and financial backgrounds.
• Guide members through the mortgage application process, explaining terms, conditions, and legalities.
• Collaborate with real estate agents, underwriters, and other industry professionals.
• Maintain up-to-date knowledge of mortgage products, lending regulations, and market trends.
• Generate new business by developing relationships with real estate professionals, builders, attorneys, and personal networks.
• Prepare and submit mortgage applications to underwriting for approval.
• Negotiate loan terms and interest rates with applicants.
• Ensure compliance with all federal and state regulations throughout the lending process.
• Provide exceptional member service and maintain ongoing relationships with members.
• Participate in community and industry organizations and events.
Core Skill Competencies
• Communication: Clear and effective communication skills, both written and verbal.
• Relationship Building: Strong interpersonal skills to build and maintain professional relationships.
• Analytical Skills: Ability to assess financial situations and determine appropriate mortgage solutions.
• Member Focus: Commitment to providing high-quality service and fostering positive member relationships.
• Detail-Oriented: Meticulous attention to detail to ensure accuracy and compliance in all documentation.
• Interpersonal Skills: Strong ability to build and maintain professional relationships.
• Problem-Solving: Effective problem-solving abilities to address clients' concerns and find viable solutions.
• Sales Skills: Proficiency in sales techniques and ability to generate new business opportunities.
• Time Management: Excellent time management skills to handle multiple tasks and deadlines efficiently.
• Technical Proficiency: Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint, Outlook) and mortgage lending software including but not limited to LOS, POS and Pricing.
Physical Demands
• Prolonged periods sitting at a desk and working on a computer.
• Occasional lifting of office supplies, up to 15 pounds.
• Frequent travel may be required for meetings and events.
Qualifications
• Minimum of an associate’s degree in business or finance with five or more years of experience in first mortgage origination.
• Active well-established book of business and COIs to consistently originate production averaging a minimum funded loan volume of $1MM monthly for the most recent 24-months, previous 24-month production mix should be a minimum of 60% purchase volume.
• Able to accurately determine interest rates, buy-downs, pricing for Conventional, HFAs and Government programs.
• Maintain a thorough knowledge and understanding of Conventional, FHA, VA, NHHFA, USDA RD, HFAs and portfolio lending and how they work and be able to communicate these effectively to all members.
• Mortgage Loan Originator (MLO) license or certification as required by state regulations.
• Continuing education and training in mortgage lending practices and regulations.
