Outside Mortgage Loan Originator

Job Description

Job Description

Description:

POSITION TITLE: Outside Mortgage Loan Originator

DEPARTMENT: Mortgage Lending

POSITION FUNCTION

This position requires a self-driven, ambitious individual who possesses a current book of business and has the proven capability to form and maintain professional relationships within the community. A key responsibility is soliciting new business and expanding the business of current members by selling the Credit Unions mortgage financing capability. 90% of the work week will consist of being on the road, developing relationships with attorneys, brokers, developers, and realtors to generate new mortgage business.

Compensation:

$50K Base Salary with .50% points commission structure starting at the first dollar.

Expectation of 1 Million minimum per month.

Excellent Benefits:

Our comprehensive benefits package includes medical, dental, and vision coverage; a generous first dollar HRA, 401 (k) plan, employer paid pension, paid time off, federal holidays off, ability to earn bonus days, birthday off; employer-paid life and disability insurance with additional buy-up coverage options; tuition and continuing education reimbursement; and other voluntary benefits.

ESSENTIAL FUNCTIONS:

1. Interviews and counsels members regarding residential and investment mortgage applications to help determine their eligibility.
2. Inform members of various mortgage products as well as cross-selling other products offered by the credit union.
3. Keeps informed of the current trends and developments in the local real estate market as well as changing rules and regulations; communicates these changes to all appropriate team members in a timely fashion.
4. Establishing and maintaining a customer and referral basis by making calls and scheduling visits to potential realtors, investors, builders, and attorneys as assigned; and maintains detailed records for the same.
5. Attend community, realtor and industry events and organizational meetings to establish relationships with local businesses and individuals. Seek business opportunities for the Credit Union as they arise.
6. Performs preliminary underwriting of loans to determine DTI, credit and Loan-to Value rations in accordance with the FRMCU and the secondary market guidelines.
7. Ensures accuracy and completion of loan applications. Generate applications and necessary forms needed for the processor to proceed with processing the application. Provide all documentation to the mortgage processor in a timely manner so that the loan may close.
8. Maintains effective communication with all FRMCU employees to ensure coordination and exchange of information to achieve goals and provide a positive member experience.
9. Ensure all documents collected up front are accurate and adhere to policy, checking for conformity to regulations (federal, state and credit union).
10. Responsible for production goals set forth by management.
11. Perform other duties as assigned.

ADDITIONAL RESPONSIBILITIES

• Maintains a required level of quality and quantity of work.
• Assists in all areas of the department as needed.
• Continues to acquire the necessary education to maintain knowledge of federal and state rules and regulations to ensure compliance.
• Flexible schedule, including some weekends to meet the needs of members and generate new leads to increase production.

PHYSICAL DEMANDS:

1. Hand dexterity required to operate computer terminal and/or related equipment.
2. Eye coordination required to operate computer/teller terminal.
3. Sitting at desk or computer workstation for periods of time.
4. Travels to Credit Union facilities/locations as required.
5. Drives to and attends meetings as required.
6. Moves around credit union between levels or floors while performing duties.
7. Bending and stretching in work area.
8. Speaks and listens to members and explains credit union services.
9. Ability to lift up to 20 lbs. with or without assistance
10. Safe driving record

This position description covers the more prominent duties performed, and is not limited to other work duties that may be assigned.

• Previous mortgage lending experience with portfolio
• Ability to communicate both orally and in writing to explain detailed lending concepts to a diverse customer base
• Must have and maintain, or be eligible for NMLS registration
• Working knowledge of a wide range of lending procedures and products
• High school diploma or equivalent required, college degree preferred
• Must have a valid driver’s license and good driving record