What are the responsibilities and job description for the Loan Officer position at Stoughton Co-Operative Bank?
This position reports to the President of the Bank. The Loan Officer is
responsible for the management and coordination of residential and
consumer/commercial lending (originations, underwriting, and
processing/closing), loan servicing and collections. This position\'s
primary responsibility is the origination of all loans while ensuring
Bank policies and procedures are adhered to and in compliance with all
applicable Federal and State regulations and in accordance with the
Bank\'s strategic plan. This is a \"hands-on\" position. Duties \*
Primary contact for all lending inquiries from customers. Review
individual scenarios and make recommendations. Take applications and
Perform Pre-qualifications, Answer Customer Questions Relating To
products and programs. Advises First Time Homebuyers on the homebuying
process \* Provides leadership, coaching, direction, and supervision to
direct reports within loan department and directly handles loan
collections. \* Actively participates in conjunction with the President
and Bank ALCO committee to develop and generate residential and consumer
marketing strategies. Continuously enhancing the customer experience
through new products/services and more efficient processes. \* Develops
and fosters effective industry relations, including but not limited to
homebuilders, real estate professionals, condominium associations,
industry/market stakeholders and other business development contacts.
Represents the Bank in various community, civic and community
reinvestment functions to further enhance the Bank\'s image while
developing, establishing, and maintaining market position. \*
Responsible for review and preparation of appropriate information for
residential/commercial and consumer loan analysis and setting conditions
and terms of residential/consumer/commercial loan requests including
approvals, declinations, returns or alternate loan programs. Reviews
residential/consumer/commercial loan packages for compliance with
Federal, State, and secondary market/investor guidelines. \* Manages,
reviews, and oversees the Bank\'s secondary market function (Freddie
Mac, Federal Home Loan Bank). Ensures investor quality loan packages,
takes out investor contracts, delivers loans according to specific
investor requirements, ensures funding is received and communicates sale
to the loan servicing department. Keeps abreast of secondary market
investor requirements and pricing to assist in mortgage sale decisions.
Monitors competition and develops/recommends interest rate schedules. \*
Keeps informed of all laws, regulations, developments and trends in
residential, commercial and consumer lending and maintains expertise in
internal policies and procedures to continually identify opportunities
to improve the efficiency and effectiveness of the teams. Recommends
revisions to loan policies and procedures for approval by the Board or
Directors. Maintains adequate internal controls and ensures
procedures/task lists are kept to date. \* Acts as primary liaison with
regulators and auditors relative to lending. \* Primary liaison with
specified vendors supporting the Bank\'s lending technology. Responsible
for resolution of system issues. Maintains rates on website to ensure
functionality, accuracy of disclosure and regulatory compliance. Takes
the lead on new projects and provides leadership and guidance when
delegating to direct reports. \* Responsible for monitoring for a
variety of reporting (i.e., Loan Policy Exceptions, Loan Document
Exceptions, production, pipeline status, commitments, etc.) to support
management decisions regarding loan sales and to comply with audit and
examination requests. \* Responsible for the preparation and monitoring
of the year-end HMDA Reporting. Submits LAR to appropriate regulatory
body within required periods. Qualifications: \* Bachelor\'s Degree in
business administration or another relevant field; or equivalent
experience; \* Five (5) years minimum of relevant experience
responsible for the management and coordination of residential and
consumer/commercial lending (originations, underwriting, and
processing/closing), loan servicing and collections. This position\'s
primary responsibility is the origination of all loans while ensuring
Bank policies and procedures are adhered to and in compliance with all
applicable Federal and State regulations and in accordance with the
Bank\'s strategic plan. This is a \"hands-on\" position. Duties \*
Primary contact for all lending inquiries from customers. Review
individual scenarios and make recommendations. Take applications and
Perform Pre-qualifications, Answer Customer Questions Relating To
products and programs. Advises First Time Homebuyers on the homebuying
process \* Provides leadership, coaching, direction, and supervision to
direct reports within loan department and directly handles loan
collections. \* Actively participates in conjunction with the President
and Bank ALCO committee to develop and generate residential and consumer
marketing strategies. Continuously enhancing the customer experience
through new products/services and more efficient processes. \* Develops
and fosters effective industry relations, including but not limited to
homebuilders, real estate professionals, condominium associations,
industry/market stakeholders and other business development contacts.
Represents the Bank in various community, civic and community
reinvestment functions to further enhance the Bank\'s image while
developing, establishing, and maintaining market position. \*
Responsible for review and preparation of appropriate information for
residential/commercial and consumer loan analysis and setting conditions
and terms of residential/consumer/commercial loan requests including
approvals, declinations, returns or alternate loan programs. Reviews
residential/consumer/commercial loan packages for compliance with
Federal, State, and secondary market/investor guidelines. \* Manages,
reviews, and oversees the Bank\'s secondary market function (Freddie
Mac, Federal Home Loan Bank). Ensures investor quality loan packages,
takes out investor contracts, delivers loans according to specific
investor requirements, ensures funding is received and communicates sale
to the loan servicing department. Keeps abreast of secondary market
investor requirements and pricing to assist in mortgage sale decisions.
Monitors competition and develops/recommends interest rate schedules. \*
Keeps informed of all laws, regulations, developments and trends in
residential, commercial and consumer lending and maintains expertise in
internal policies and procedures to continually identify opportunities
to improve the efficiency and effectiveness of the teams. Recommends
revisions to loan policies and procedures for approval by the Board or
Directors. Maintains adequate internal controls and ensures
procedures/task lists are kept to date. \* Acts as primary liaison with
regulators and auditors relative to lending. \* Primary liaison with
specified vendors supporting the Bank\'s lending technology. Responsible
for resolution of system issues. Maintains rates on website to ensure
functionality, accuracy of disclosure and regulatory compliance. Takes
the lead on new projects and provides leadership and guidance when
delegating to direct reports. \* Responsible for monitoring for a
variety of reporting (i.e., Loan Policy Exceptions, Loan Document
Exceptions, production, pipeline status, commitments, etc.) to support
management decisions regarding loan sales and to comply with audit and
examination requests. \* Responsible for the preparation and monitoring
of the year-end HMDA Reporting. Submits LAR to appropriate regulatory
body within required periods. Qualifications: \* Bachelor\'s Degree in
business administration or another relevant field; or equivalent
experience; \* Five (5) years minimum of relevant experience