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The Mortgage Loan Originator is responsible for developing current and prospective member mortgage loan relationships to increase the Credit Union’s mortgage loan portfolio. The Mortgage Loan Originator actively secures residential mortgage loan applications and provides pre-approvals for members and non-members in conformance with established Credit Union policies and procedures.
Performs functions, within scope of authority and expertise, to provide the highest level of service and responsiveness to members served by the Credit Union.
1. Works directly with members and non-members to understand mortgage lending needs and matches them with the appropriate Credit Union mortgage lending product.
2. Explains and answers questions regarding the requirements of the mortgage lending products and the requirements of the mortgage lending application and pre-approval process.
3. Originates and prepares mortgage loan applications and ensures quality, timeliness and completion of required mortgage loan application documentation and follows up with applicants as needed.
4. Reviews and analyzes loan applications for pre-qualification by gathering documents to verify financial status, credit histories and reports and assesses applicants’ repayment and default risk and forwards completed applications to processing and/or underwriting.
5. Continuously monitors mortgage loan pipeline and manages expected mortgage loan closing dates.
6. Provides superior member service by providing timely and accurate information to applicants and borrowers, colleagues, closing agents and real estate brokers regarding various mortgage loan programs and applications using a variety of communication channels.
7. Maintains comprehensive knowledge of the Credit Union’s mortgage loan products and all other products and services. Cross sells products and services as appropriate.
8. Maintains current knowledge of mortgage industry, developments, trends and best practices. Maintains in-depth knowledge of state and federal mortgage laws and regulations including Federal National Mortgage (Fannie Mae).
9. Adheres to all LCU policies and procedures. Responsible for compliance with the following regulations: BSA, OFAC, and other regulations as required.
10. Participates in internal employee mortgage loan preparation training. May develop training programs and assist in the instruction of the programs.
11. Travels throughout credit union branches and Credit Union lending area to meet with prospective home buyers, as needed.
12. Provides pipeline and process support to the mortgage origination team and AVP Real Estate Lending as needed.
13. May represent the Credit Union through participation in various community organizations and activities and develops relationships to promote Credit Union products and services as directed.
Associate Degree in business or related field preferred. One to three years of mortgage processing/mortgage origination and business development experience required. Strong organizational, interpersonal, written and verbal communication skills both in person and over the phone. Working knowledge of Microsoft Office and mortgage lending systems requires. Knowledge of Fannie Mae/Secondary mortgage market guidelines and requirements, including automated underwriting systems DU and DO. Must possess a valid Massachusetts driver’s license. Must be registered with the Nationwide Mortgage Licensing System (NMLS).