Job Title: Mortgage Loan Officer

Department: Mortgage

Reports To: Mortgage Manager

FLSA Status: Non-Exempt

Grade: 9

Minimum Starting: $21.67 / hour

Summary

Originates real estate loans in accordance with federal guidelines and established lending objectives, policies, and procedures

Essential Duties and Responsibilities include the following. Other duties may be assigned. This job description in no way implies that the duties listed here are the only ones the employee can be required to perform. The employee is expected to perform other tasks, duties and training as dictated by their supervisors.

• Interview loan applicants and request appropriate credit documentation.
• Analyze applicant’s financial status, credit, and proposed transaction to determine feasibility for loan approval.
• Request documents such as income tax return, bank account number, purchase agreement, and property description, for verification.
• Prepare up-front disclosure package and ensures compliance requirements are met.
• Answer applicant's questions and obtain signatures on loan application, disclosures, and authorization forms.
• Perform cursory review of credit, income, asset, and property documentation to submit an approvable package to underwriting Informs applicant of closing costs such as appraisal, credit report, and notary fees.
• Determines which product the applicant qualifies for and if they meet established standards for further consideration
• Submit complete application forms to Mortgage Loan Processor for verification of application information.
• Coordinate with Mortgage Loan Processor to ensure loan is handled in a timely manner.
• Handle correspondence with applicant with regard to locking of loan.
• Access to FNMA/DU for pricing on FHLB or 30-year Portfolio
• Correspond with applicant to resolve question and discrepancies, such as credit report showing late payment history.
• Analyze and comprehend complex financial data and provide financial alternatives. Maintain professional appearance of work area and notifies supervisor when supplies are necessary.
• Inform applicant of loan approval, denial, and/or outstanding conditions.
• Promote and develop relationships with referral sources such as branch personnel, realtors, builders, mortgage companies and other affinity groups to generate mortgage leads.
• Manage a heavy pipeline of loans.
• Comply with continuing education requirements for the SAFE Act policy – NMLS Licensing
• Assist in any other area as directed by Mortgage Manager, Vice President of Lending, Or President/CEO.
• Accurately identify all members using RGCU approved types of identification for all transactions.
• Ensure that all CIP information for new accounts is complete prior to proceeding with a mortgage loan.
• Properly update all necessary CIP information in the core processor for prime and joint members and customers on all accounts for all transactions.
• Accurately perform OFAC during transactions such as but not limited to: opening new accounts; adding individuals to an account or shares; producing cashier’s checks or money orders; initiating wires, etc.
• Ensure that all accounts, loans, and transactions are reviewed for the appropriate red flags.
• Report all suspicious activity to the Risk Management department via the compliance group email

Supervisory Responsibilities

This job has no supervisory responsibilities.

Competencies

To perform the job successfully, an individual should demonstrate the following competencies:

Business Acumen - Understands business implications of decisions; Displays orientation to profitability; Demonstrates knowledge of market and competition; Aligns work with strategic goals and complies with all Federal and State compliance policies.

Oral Communication - Speaks clearly and persuasively in positive or negative situations; projects a positive and professional image; listens and gets clarification; responds well to questions; demonstrates group presentation skills; participates in meetings.

Organizational Support - Follows policies and procedures; Supports organization’s goals and values; Ensures that loans are processed in accordance with the Credit Unions policies and procedures

Quality Management - Looks for ways to improve and promote quality; Demonstrates accuracy and thoroughness; Applies feedback to improve performance; Monitors own work to ensure quality.

Technical Skills - Assesses own strengths and weaknesses; Pursues training and development opportunities; Strives to continuously build knowledge and skills; Shares expertise with others.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience

Experience- 2 to 5 years related experience

Education- 2-year degree or completion of specialized course of study OR 5 years related experience

Language Skills

Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals. Ability to write routine reports and correspondence. Ability to speak effectively before groups of customers or employees of organization.

Mathematical Skills

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry. Must be detail oriented.

Reasoning Ability

Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Ability to deal with problems involving several concrete variables in standardized situations.

Computer Skills

To perform this job successfully, an individual should have knowledge of Loan Origination software (Loan Producer preferred), DU (Desktop Underwriter), DO (Desktop Originator), Outlook, Microsoft Word and Excel, along with a general understanding of the Internet.

Certificates, Licenses, Registrations

Mortgage License System number preferred

Pursuant to the SAFE Act policy, you must register and maintain a status in good standing. Failure to register successfully or to maintain a status in good standing under the SAFE Act will affect your eligibility for continued employment and may result in your immediate termination.

• I will not act as an MLO for Rio Grande Credit Union until I have received notification from the NMLS Registry that I have been registered and I have forwarded said notification to the Human Resources Department.
• If at any time I allow my NMLS registration to lapse, I will not be allowed to act as a MLO until the registration has been completed.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this Job, the employee is regularly required to sit and use hands to finger, handle, or feel. The employee is frequently required to reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds.

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually quiet.