Mortgage Loan Officer

Job Description

Job Description

Competitive signing bonus available, commensurate with experience and existing production portfolio.

Starting pay for successful applicants is generally within the minimum to midpoint of the pay range. Our consideration for pay is designed to support career growth and development over time. Offers extended depend on a variety of job-related factors, including but not limited to individual experience, knowledge, training, education, geographic location, market demands and internal equity.

Hybrid remote 60 miles from Clarksville, TN

POSITION PURPOSE

Responsible for origination of mortgage loan products as offered through the mortgage loan department. Contacts and creates relationships with potential mortgage loan clients, marketing the Credit Union’s services to various outside parties, and securing mortgage loan engagements with new and existing customers of the Credit Union. Conducts initial pre-qualification interviews and prepares loan application packages and necessary documentation, acting as liaison to branch staff by conducting training in the same. Conveys policies for extension of credit in accordance with the Credit Union and secondary investor guidelines, meeting mortgage loan scheduling and documentation requirements, as well as production expectations as determined by the Vice President, Mortgage Origination. Serves members, prospective members, builders, developers, and Realtors promptly and professionally, networking to cross-sell the Credit Union’s services.

ESSENTIAL FUNCTIONS AND BASIC DUTIES

Generate new mortgage loan clients for the Credit Union and new mortgage loans from existing clients of the Credit Union.

• Research, visit, call, contact, network and communicate with existing and prospective customers of the Credit Union – and referral sources of the same – regarding their financial and mortgage-related needs and/or opportunities for sales. Such should usually be done in-person with the specific design to develop borrower leads.
• Establish and maintain effective and professional business relations with Credit Union members, Realtors, building professionals and other potential sources of business. Maintain, project, and protect the Credit Union’s professional reputation.
• Intentionally, strategically and professionally market Credit Union products and services to existing and prospective customers and/or referral sources. Promptly answer questions, respond to requests, and resolve problems related to any product or service provided by the Credit Union, particularly those pertaining to mortgage loans. Take advantage of opportunities to cross-sell the Credit Union’s products and services.
• Perform these functions on a regular basis, no less than every work week, and most often outside the Credit Union’s place of business.

Effectively and professionally complete other loan origination functions, incidental to the acquisition of additional business.

• Interview, take applications, and process preliminary documentation on loan requests. Discuss loan alternatives, credit criteria, interest rates, and loan documentation in such a manner as to elicit positive responses from members and potential customers. Perform these functions at the member’s or potential customer’s convenience, most often at locations other than the Credit Union’s facilities, such as the client’s home or place of business.
• Perform follow-up work necessary to achieve conditional approval within established timeframes.
• Promptly and courteously notify member or prospective client if loan is referred back to Loan Officer because of problem ratios or credit ratings.
• Advise members or prospective clients of loan approval or denial. Explains loan denials precisely and clearly.
• Complete lending operations in accordance with established Credit Union policies and legal requirements.

Establish and maintain effective communication and coordination with Credit Union personnel and with management.

• Coordinate functions with related departments and Branches and provides support as needed. Loan Officer will act as liaison to branch staff and will be responsible for training of branch personnel in mortgage loan products and completing online applications using mortgage loan software.
• Keep management informed of area activities and of any significant problems.
• Attend and participate in all meetings, trainings, and committees as required.
• Complete required records and reports.

Assume responsibility for related duties as required or assigned.

• Stay informed regarding changes in lending standards, related legal requirements, and trends in local real estate and the competitive lending market.
• Ensure that any shared/temporary work area or Credit Union property, including any assigned equipment (such as a laptop), is safely maintained and secured.
• Employ adequate safeguards to ensure the security of member information in the employee’s possession. Must do the same for information pertaining to any leads or prospective clients as well.
• Accomplish all essential tasks despite not having regular work hours scheduled.
• Participates in all required trainings, meetings and committees.
• Satisfactorily completes all required compliance training and complies with all regulations which apply within the scope of the position to include Bank Secrecy Act compliance.
• Participate in community and civic events to promote awareness of the Credit Union.
• Ensure work area and assigned equipment is clean, secure, and well maintained.
• Perform other duties as assigned by management.

Special Note: Fortera Federal Credit Union is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to age, sex, race, color, national origin, disability, pregnancy, genetic information, religious preference, protected veteran status, sexual orientation, gender identity or any other trait protected by state or federal law.

Please be advised, visa sponsorship is not available for this position.

PERFORMANCE MEASUREMENTS

• Additional mortgage loan business is obtained from either new or existing clients, primarily as a result of employee’s efforts outside of the Credit Union’s place of business. Related production expectations establish by management are met or exceeded.
• Good business relations exist with members, potential clients, referral sources and business professionals.
• Lending functions, including the processing of loan applications and related financial data, are effectively performed in accordance with established Credit Union policies and with legal and regulatory requirements.
• Loan documentation, files, and related reports are complete, accurate, and timely. Monthly reports are submitted as scheduled.
• Good working relations exist with Credit Union personnel and with management. Assistance is provided as needed. Management is appropriately informed.
• Fortera’s Core Values satisfactorily demonstrated.

QUALIFICATIONS

Education/Certification:

• Associate degree in Business or an equivalent combination of formal training and experience.
• State Mortgage Originator License required or must be able to obtain within 6 months.
• Must have access to personal transportation covered by adequate, current insurance and a valid driver’s license.

Required Knowledge:

• Understanding of the foundation of determining credit worthiness.
• Knowledge of industry standard products, procedures, processing, and underwriting guidelines.
• Familiarity with title reports, insurance, and appraisals.

Experience Required:

• Three to five years of related mortgage industry experience preferred.
• Minimum of one year mortgage loan originating experience required.

Skills/Abilities:

• Ability to accurately assess cultural environment, exhibiting emotional intelligence and appropriate sensitivity while maintaining individuality.
• Strong interviewing skills.
• Excellent interpersonal and public relations abilities.
• Able to work in a cooperative manner with others.
• Excellent oral and written communication skills.
• Strong organizational skills with excellent follow-up and attention to detail.
• Good analytical and financial skills.
• Highly motivated and responsible.
• Adaptable. Able to move multiple streams of work forward simultaneously.
• Able to operate PC, related software applications, and standard office equipment.
• Able to meet deadlines and maintain and effective and efficient workflow.
• Must be able to work independently, collaboratively as a team, and handle multiple tasks in a fast-paced environment.
• Professional dress, appearance, and attitude.
• Required to work at any Credit Union location that may include extended hours, holidays, or Saturdays.
• Regular and predictable attendance.

PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

Talking:

• Must frequently convey detailed or important instructions or ideas accurately, loudly, and/or quickly and, often, in a pleasant and receptive manner.

Grasping:

• Using fingers and palm on an object.

Finger Dexterity:

• Using primarily just the fingers to make small movements such as typing, picking up small objects, or pinching fingers together.

Repetitive Motion:

• Movements frequently and regularly required using the wrists, hands, and/or fingers.

Average Hearing:

• Able to hear average or normal conversations and receive ordinary information.

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).
• Frequent local travel

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:

• Able to perform basic math skills, use decimals to compute ratios and percents, and to draw and interpret graphs.

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.