Northern Home Loan Officer II

Northern Home Loan Officer II

Red Canoe Credit Union hires passionate, knowledgeable, and dependable individuals who are committed to making a difference. As a not-for-profit financial institution owned by our members, we believe in the value of people over profit. If you're looking for a place to start a rewarding career you can be proud of, then Red Canoe might be the place for you.

Red Canoe Credit Union has 10 branches spread across Washington and Oregon. We even have members living in all 50 states. But Red Canoe is still a local credit union at its core. For us, being local means an ongoing commitment to go beyond serving our members and giving back to the communities we call home. At Red Canoe, we strive to make a difference in the lives of our neighbors.

The Home Loan Officer plays a crucial role in the early stages of the mortgage loan application process by gathering and validating essential data. This position requires the expertise to ask borrowers for additional information when necessary. The Loan Officer must have a deep understanding of all product offerings within the home loan department, including conforming mortgages, home equity loans, land loans, and manufactured home loans, and be able to recommend the best options to meet the borrower's needs. The Loan Officer conducts interviews with members in person, by phone, or online, to determine the most suitable product and pricing. They are authorized to review, prepare, and submit loan applications for approval or denial by the designated underwriter. Additionally, the officer ensures compliance with credit union policies and investor guidelines by reviewing rates, fees, and loan guidelines for each application. The Home Loan Officer also aids members regarding Red Canoe Credit Union's services and policies, focusing on loans and financial counseling. They are committed to delivering excellent service, responding to all member communications within 24 hours in line with the department's service standards.

Regulatory Compliance Ensure timely preparation and delivery of all initial disclosures for conventional and portfolio loans in accordance with RESPA guidelines. Verify that all loans comply with RESPA and Fair Lending regulations by accurately disclosing all fees on the Loan Estimate and Closing Disclosure.

Interviews Conduct interviews with members to assess their home loan needs and recommend the best product and pricing options. Provide guidance on improving their credit profiles and financial situations. Assist members with completing online applications, either in person or over the phone, for all conventional or portfolio loans.

Loan Packages Prepare and submit loan packages to Underwriting within 5 days by gathering income, asset, and liability documentation, reviewing credit reports, and calculating debt-to-income ratios. Ensure full compliance with Fannie Mae DU findings, investor guidelines, and RCCU policies to meet all preliminary conditions. Include additional conditions identified during the interview process that DU cannot determine from the provided information.

Documentation Review initial loan documentation and provide guidance to members on any additional paperwork needed to process their loans.

Cross-Sell Actively cross-sell RCCU's retail products and services, such as checking and savings accounts, CDs, auto loans, Visa credit cards, secured and unsecured lines of credit, and online banking.

Notary Services Provide public notary services when applicable.

Referral Partnerships Cultivate, develop and retain referral partners such as Realtors, Loan Officers from other lending institutions, Insurance Providers, Financial Advisors and Title Agents and Escrow officers.

Professional Development - Continuously expand knowledge of industry trends, new loan products, relevant regulations and rate trends. Attend training and development sessions to improve skills and provide better service to members.

Marketing and Business Development - Actively promote home loan products to prospective and existing members through networking, referrals, and local outreach. Participate in community events and industry meetings to build awareness of credit union mortgage services. Collaborate with the credit union's marketing team to develop targeted campaigns and promote loan products.

Loan File Management Develop and consistently maintain an organized tracking system for all assigned loan files. Ensure that files are complete by identifying and retrieving any missing information.

Data Entry and Validation Ensure all validated loan information is accurately entered into the Encompass URLA form, meeting regulatory and investor requirements to disclose complete loan applications within three days of receipt.

Achieve Production Goals Support the department in meeting production goals by completing additional tasks as assigned by the Home Loan Sales Manager.

Efficient Workload Management Perform duties efficiently in a fast-paced environment, effectively managing and prioritizing multiple tasks to meet deadlines.

Member Inquiries Respond promptly and accurately to home lending inquiries, providing members with information on department services, credit union policies, and procedures.

Team Collaboration Foster a cooperative and positive team environment to enhance staff relations and improve departmental efficiency. Mentor and foster LO 1's to help grow and strengthen team.

Loan Request Analysis Conduct interviews with borrowers, record loan requests, analyze the information, and recommend appropriate actions to the Underwriter.

Product and Policy Knowledge Stay informed about home loan products, loan officer guidelines and credit union policies approved by the Board of Directors to ensure accurate and compliant loan processing.

Collateral Information Gather all required collateral information to assist the Underwriter in making informed decisions.

Closing and Regulatory Knowledge Be knowledgeable about real estate closing procedures, escrow processes, and applicable regulatory requirements to ensure compliance throughout the loan process.

Loan Submission Preparation Ensure the Loan Officer's Policy/Procedures/Workflows are complete and accurate before completing their milestone and submitting the loan for processing.

Option Analysis Review each application thoroughly to ensure all potential loan options have been considered and discussed with the borrower.

Cross-Department Support Provide assistance to other loan officers and departments as needed to ensure smooth operations and timely loan processing.

Cross-Selling Services Analyze loan requests to identify opportunities for cross-selling other RCCU products and services that may benefit the member.

Additional Duties Perform other duties as assigned by the manager to support the overall goals of the department.

Servicing Multiple Branches - Support, assist, or manage tasks across more than one location or branch of a company. This may involve traveling between locations or providing remote support.

Bondable Must be bondable to meet regulatory and company standards.

Problem-Solving & Relationship Management Ability to manage urgent and complex situations, providing constructive solutions while maintaining positive relationships with members, colleagues, vendors and referral partners.

NMLS Registration Must be registered with the Nationwide Mortgage Licensing System & Registry (NMLS) as a requirement for obtaining and maintaining the position of Mortgage Loan Originator (MLO).

Goal-Oriented Possess the drive and competitiveness to consistently meet or exceed individual monthly production targets.

Professionalism Must maintain a professional appearance and demeanor, demonstrating punctuality, dependability, and self-motivation.

Interpersonal Skills Strong human relations skills to effectively address and resolve member-related matters.

Technical Skills Proficient in personal computer use, including Microsoft Office Suite (Word, Excel, Outlook, etc.).

Communication Skills Excellent written and verbal communication skills, with the ability to clearly and effectively convey information.

Decision-Making & Organizational Skills Ability to make informed decisions, manage the complexities of the role, and stay organized in a fast-paced environment.

Minimum of 2 years' Mortgage Loan Officer experience required.

Proven competencies in originating and submitting FHA and VA loans.

Documented ability to perform accurate income analysis of wage, commission, bonus, and overtime income.

Be knowledgeable and compliant with Reg Z, CFPB's Reg X, HMDA, Fair Housing Act, Flood Disaster Protection Act, Homeowner's Protection Act of 1998, ECOA and Reg B, and the SAFE Act.

Proficient in determining member loan requests and matching them with the mortgage products that best meet the member's needs.

Thorough knowledge of all mortgage products and services, including forms and required documentation for each type of loan or equivalent experience.

Possess an intermediate understanding of mortgage loan systems including mortgage underwriting, processing, quality control, funding, and Red Canoe's mortgage lending website.

Maintain current knowledge of all federal and state regulations governing credit union mortgage lending.

High school diploma or equivalent.

Ability to read English by sight; and both speak and write English.

Ability to hear by telephone and in person.

This position reports directly to the Home Loan Production Manager and may have daily contact with employees, management team, members, Board of Directors, and outside organizations.