Mortgage Originator

Job Description

Job Description

Position Title: Mortgage Originator Department: Mortgage

REPORTING RELATIONSHIPS

Position Reports To: Vice President of Real Estate

Works Closely With: Assigned Mortgage Processor and Assigned Mortgage Closer

POSITION PURPOSE

Responsible for origination of long-term mortgage loans as well as lot, and construction. Conducts initial pre-qualification interviews and prepares complete loan application packages and necessary documentation. Conveys policies for extension of credit in accordance with Credit Union and secondary investor guidelines. Meets Mortgage Loan scheduling and documentation requirements, and production expectations as determined by the Mortgage Operations Manager. Serves members, prospective members, builders, developers, and Realtors promptly and professionally. Provides general Credit Union information and cross-sells services. Assists Mortgage Loan personnel as necessary.

NATURE AND SCOPE

This position requires a high level of organizational skills, excellent communication abilities, and professionalism. Complete knowledge of mortgage lending functions as well as efficiency and accuracy are also vital to the successful execution of this position.

ESSENTIAL FUNCTIONS AND BASIC DUTIES

1. Assumes responsibility for the effective and professional completion of assigned loan origination functions.

a. Interviews, takes applications, and processes preliminary documentation on loan requests. Discusses loan alternatives, credit criteria, interest rates, and loan documentation in such a manner as to elicit positive responses from members.

b. Performs follow-up work as necessary to achieve conditional approval within established time frames.

c. Notifies member if the loan is referred back to Officer because of problem ratios or credit ratings.

d. Advises members of loan approval or denial. Explains loan denials precisely and clearly to members.

e. Completes lending operations in accordance with established Credit Union policies and legal requirements.

f. Complies with Bank Secrecy Act responsibilities.

g. Analyzes and evaluates loan requests. Identifies problems or potential problems with credit information and coordinates with the necessary party to resolve the problems.

h. Develop new business and promote Credit Union’s name in the market.

i. Demonstrate an active role in the community by attending business and charitable events.

2. Assumes responsibility for establishing and maintaining effective and professional business relations with members, Realtors, and building professionals.

a. Answers questions and requests, and resolves problems.

b. Informs members of Credit Union loan policies and services.

c. Counsels members regarding money management and financial matters. Counsel members whose loan requests were denied, explaining reasons and alternatives.

d. Maintains and projects the Credit Union's professional reputation.

3. Assumes responsibility for establishing and maintaining effective communication and coordination with Credit Union personnel and with management.

a. Coordinates functions with related departments and Branches and provides support as needed.

b. Assists Mortgage Loan personnel and serves as a backup as needed.

c. Keeps management informed of area activities and of any significant problems.

d. Attends and participates in meetings and committees as required.

e. Completes required records and reports.

4. Assumes responsibility for related duties as required or assigned.

a. Professionally cross-sells Credit Union services.

b. Stays informed regarding changes in lending standards, related legal requirements, and trends in local real estate and competitive market.

c. Keeps work area clean, secure, and well maintained.

PERFORMANCE MEASUREMENTS

1. Lending functions are effectively performed in accordance with established Credit Union policies and with legal and regulatory requirements.

2. Good business relations exist with members and business professionals. Programs and services are properly and thoroughly explained and questions courteously answered or appropriately referred.

3. Loan documentation, files, and related reports are complete, accurate, and timely. Monthly reports are submitted as scheduled.

4. Loan applications and related financial data are closely and effectively analyzed and evaluated.

5. Good working relations exist with Credit Union personnel and with management. Assistance is provided as needed. Management is appropriately informed.

6. Established production expectations are met or exceeded.

QUALIFICATIONS

Education/Certification: High school graduate or equivalent. Additional course work in business or related fields preferred.

Required Knowledge: Understanding of the foundation of determining creditworthiness.

Knowledge of Credit Union loan policies, products, procedures, processing, and underwriting guidelines.

Familiarity with title reports, insurance, and appraisals.

Experience Required: One to two years of related loan processing experience.

Real Estate background helpful.

Skills/Abilities: Strong interviewing skills.

Excellent communication and public relations abilities.

Good analytical and financial skills.

Able to operate related computer applications, calculators, and other basic business equipment.

PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

Talking: Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.

Average Hearing: Able to hear average or normal conversations and receive ordinary information.

Repetitive Motion: Movements frequently and regularly required using the wrists, hands, and/or fingers.

Average Visual Abilities: Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.

Physical Strength: Sedentary work; sitting most of the time. Exerts up to 10 lbs of force occasionally. (Almost all office jobs.)

WORKING CONDITIONS

None: No hazardous or significantly unpleasant conditions (such as in a typical office).

MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

Reasoning Ability: Ability to deal with a variety of variables under only limited standardization.

Able to interpret various instructions.

Mathematics Ability: Ability to compute discount, interest, profit, and loss; commission markup and selling price; ratio and proportion, and percentage.

Able to perform very simple algebra.

Language Ability: Ability to read a variety of books, magazines, instruction manuals, atlases, and encyclopedias.

Ability to prepare memos, reports, and essays using proper punctuation, spelling, and grammar.

Ability to communicate distinctly with appropriate pauses and emphasis; correct punctuation (or sign equivalent) and variation in word order; using present, perfect, and future tenses.

INTENT AND FUNCTION OF JOB DESCRIPTIONS

Job descriptions assist organizations in ensuring that the hiring process is fairly administered and that qualified employees are selected. They are also essential to an effective appraisal system and related promotion, transfer, layoff, and termination decisions. Well constructed job descriptions are an integral part of any effective compensation system.

All descriptions have been reviewed to ensure that only essential functions and basic duties have been included. Peripheral tasks, only incidentally related to each position, have been excluded. Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions. In no instance, however, should the duties, responsibilities, and requirements delineated be interpreted as all-inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate.

In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.

Job descriptions are not intended and do not create employment contracts. The organization maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.