Mortgage Loan Officer

Description

POSITION PURPOSE

Responsible for originating real estate mortgage loans in accordance with Del-One FCU (Del-One) product guidelines, and processing loans in accordance with Del-One processes up to delivery to a Mortgage Support Specialist. The MLO’s primary responsibility is to grow mortgage production by assisting branch and credit union personnel with mortgage leads and developing business relationships with realtors and other professionals and sourcing mortgage leads from these relationships. The MLO will be assigned to operate in Sussex County in the state of DE with the purpose of expanding our mortgage products and services to the south of the state. The MLO is expected to collect and review all needed supporting loan documentation and maintain a minimum standard of production and quality. The MLO is expected to comply with all consumer and real estate lending laws and requirements. Having a designated area will help the MLO to be focused and be consistent when communicating with our business partners in Sussex County. MLO will be attending different networking events, and actively participating in Sussex County Chamber of Commerce or Association of Realtors, etc. MLO will have a dedicated office in our Seaford Branch, however, will be visiting Dagsboro, Lewes, Milford, and other branches during the week to build trust with our teammates and members.

Requirements

ESSENTIAL FUNCTIONS AND BASIC DUTIES

• Market and develop loans
• Source leads for mortgage loan originations, mostly away from the Del-One location or home office
• Develop and build relationships with realtors and other business professionals
• Understand and market Del-One mortgage loan products.
• Meet with applicants to obtain information for mortgage loan applications and answer questions about Del-One products and processes
• Collect loan documentation and financial information and upload into the loan operating system.
• Analyze applicants’ financial status, credit, and related evaluations to determine feasibility of granting loans
• Master the Credit Union’s point of sale and loan operating system.
• Effectively communicate with mortgage support, processing, and underwriting support staff
• Maintain a high level of member satisfaction and effectively resolve member complaints.
• Maintain open and effective communication channels with members, realtors, and other referral sources, including regular scheduled meetings and dissemination of pertinent information.
• Attend loan closings, sales, and officer meetings
• Support Del-One’s strong member relationship culture through on-going member/referral contact, exceptional member service, and superior product knowledge.

Required Traits/Behavioral Competencies:

• Unquestionable integrity and a genuine desire to help others
• Ability to thrive in a high volume, fast-paced environment
• Self-motivated and self-sufficient in approach to work
• Strong organizational and time management skills; close attention to detail
• Ability to build and maintain positive and effective relationships with others
• Strong oral and written communication skills. A good listener. Articulate. Ability to effectively present information and respond to managers, referral sources, and customers
• Strong work ethic; ability to work to achieve desired production results
• Adhere to mortgage loan standards and laws

PERFORMANCE MEASUREMENTS

• 1. Lending functions are effectively performed in accordance with established Credit Union policies and within legal and regulatory requirements.
• 2. Good business relations exist with members and business professionals. Products 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:

• Proficient or ability to be proficient in mortgage lending compliance and regulatory requirements including federal and state lending statutes, and a solid understanding of mortgage underwriting criteria.
• Knowledge of retail lending concepts and principles are required, along with formal training in personal financial analysis and tax return analysis is required.
• Bachelor’s Degree or equivalent experience
• Must be eligible for registration with the National Mortgage Licensing System.

REQUIRED KNOWLEDGE:

• Knowledge of retail lending concepts and principles
• Thorough understanding and strong working knowledge of credit, underwriting, credit policy and financial statement analysis
• Ability to quickly learn automated underwriting systems.
• Strong PC. Skills (Loan operations Systems, Adobe, Microsoft Windows Office Products, etc.

EXPERIENCE REQUIRED:

• +5 years of experience in retail lending
• Real estate background helpful.
• Credit union industry background preferred.

SKILLS/ABILITIES:

• Preferred but not required: Ability to speak fluently in another language (preferable Spanish and/or Haitian-Creole)
• Strong interviewing skills.
• Excellent communication and public relations abilities.
• Good analytical and financial skills.
• Able to operate related computer applications, calculator and other basic business equipment.
• Able to travel throughout the state of Delaware to meet members/prospective members at Del-One branches.

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 to operate machinery.

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

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 as 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.