Mortgage Loan Officer

Job Description

Mortgage Loan Officer

Job Classification: Full Time

FLSA Status: Exempt or Non-Exempt

Department: Lending

Reports To: Vice President of Lending Production

Senior Leader: Chief Operating Officer

Job Overview

The Mortgage Loan Officer is responsible to provide professional expertise in promoting and originating first and subordinate lien loans that meet portfolio and investor guidelines. Builds rapport and provides quality customer service between and for internal and external customers through a proficient knowledge of the credit unions program offerings. Develops a customer referral base of Realtors, Builders, Financial Service Providers, and Consumers. This position has a base salary plus commission. The MLO must be licensed in the State of WI and registered with NMLS.

Major Tasks, Responsibilities and Key Accountabilities

• Facilitate the loan application process by conducting borrower interviews in person and over the phone, originating 1st mortgage loans that meet investor and portfolio guidelines
• Obtain and evaluate credit reports and where applicable, submits loans to Desktop Underwriter® to obtain automated underwriting recommendations.
• Prepare and execute loan documentation including the application, initial disclosures and re-disclosures (when applicable), insuring documents are prepared accurately, in compliance with all regulations and timely
• Provide financing solutions and credit reporting education to borrowers that best meet their financial needs while adhering to anti-predatory lending and regulatory compliance guidelines
• Communicates with borrower, Realtor, Closing Agent regarding documentation required, file progress, closing arrangements, etc., while maintaining borrower confidentiality
• Works with the borrower, loan processor, underwriter and other staff through the entire loan process
• Communicates loan decisions to borrowers, including approvals and denials, verbally and in writing
• Participate in training and continuing education as required by the Credit Union and any state or federal programs (such as the SAFE Act)
• Working with management, develop, coordinate and deliver training and marketing activities that drive profitable loan volume, meeting production and service goals
• Answer incoming calls, counseling new applicants; answering questions on files in process; or re-directing the caller to appropriate staff in other areas of the Credit Union
• Maintains up to date knowledge and adheres to all regulations, policies, procedures and standards that pertain to this position.
• Follows Processes and procedures established to ensure compliance with the Bank Secrecy Act (BSA). Complete required, annual BSA training to ensure you understand your responsibilities that apply to BSA, including:
  1. CIP (Customer Identification Program)
  2. CDD (Customer Due Diligence)
  3. Beneficial Owner Identification and Verification
  4. Prohibited Account Types
  5. CTRs (Currency Transaction Report)
  6. SARs (Suspicious Activity Report)
  7. OFAC (Office of Foreign Assets Control)
  8. Monetary Instruments
  9. Record Retention

• Cross sell other products and services
• Work in multiple branch office locations
• Perform other duties/projects as assigned.

QUALIFICATIONS and COMPETENCIES

EDUCATION and EXPERIENCE

• Bachelor's degree or equivalent work experience in the mortgage lending field is required.
• 2-5 years' experience in mortgage lending, finance or real estate related field.
• Must be a licensed mortgage loan originator through NMLS.
• Pass the pre-employment Drug Test and Background Check.
• 5 years' experience in Mortgage Lending

COMPETENCIES

• Ability to multitask and prioritize.
• Pass the pre-employment drug test and background check.

OTHER (PHYSICAL, MENTAL, AND VISUAL SKILLS)

Physical Job Requirements

Frequent periods are spent standing or sitting in the same location with some opportunity to move about; occasionally there may be a need to stoop or lift light objects (typically less than 8 pounds).

• Ability to move about and communicate with a diverse membership and employee group.
• Ability to accomplish the described responsibilities using computers and technology.
• Ability to sit and/or stand for extended periods of time.
• Ability to work in a changing, challenging, and fast paced work environment.
• Variable stress levels.
• Provide own transportation.
• Occasional business travel.

Environmental Job Requirements

Typically located in a comfortable, quiet indoor area. There may be regular exposure to mild physical discomfort from factors such as dust, fumes or odors, temperature extremes, strong drafts, or bright lights.