Job Description
Job Description
TITLE: Mortgage Loan Officer I
REPORTS TO: Loan Manager
Purpose
Provide information on credit union products and services according to credit union policies and procedures, and Federal and State rules and regulations. Interview applicants for real estate loans. Prepare, analyze, process, and document all required forms and related documentation for real estate loans. Approve or deny loan applications based on analysis of each applicant’s background. Also assist with same for consumer loans. Operate under moderate credit authority. Promote credit union products and services.
Duties and Responsibilities
1. Develop mortgage loan business through member seminars and calls to realtors, contractors, and other institutions. Participate in community efforts to promote home ownership.
2. Establish and monitor control procedures for first mortgage loan portfolio.
3. Interview loan applicants and assist members with application process. Maintain ongoing communication with members regarding loan status.
4. Obtain and evaluate credit reports on applicants. Verify debts and estimate monthly payments for any outstanding debts not listed and add them to debts on application.
5. Approve or deny real estate applications. On denied loans, explain reasons for denial in a professional and courteous manner. Work with member to provide recommendations to possibly secure a future loan.
6. Ensure that each real estate loan is processed accurately.
7. Prepare mortgage documents for closing.
8. Pay title company, appraisers, and any other closing related fees. Ensure property taxes are up to date.
9. Maintain accurate records of insurance and taxes on real estate loans.
10. Manage second-mortgage portfolio.
11. Monitor delinquent real estate loans and assist in collection if needed.
12. Achieve production goals on mortgage loans as established by the credit union.
13. Attend and complete all required regulatory training and continuing education to maintain NMLS status.
14. Assist with consumer loans; application, approval/denial process.
15. Implement new loan products and services in accordance with management direction.
16. Benefit awareness of all credit union products.
17. Escrow maintenance, including but not limited to, Home Owner’s Insurance, Flood Insurance, HOA dues, Taxes and PMI invoice payments and yearly Escrow Analysis notices and payment changes
18. Ensure that Credit Union complies with all HMDA regulations
19. Perform other duties as assigned.
Qualifications/Requirements
· High School Diploma/GED.
· Minimum of 3 years of mortgage processing, underwriting, or originating experience including first mortgages, secondary market mortgages and HELOC loans.
· Knowledge of Fannie Mae, Freddie Mac, and HUD guidelines is a plus.
· Previous experience in Calyx loan origination software is a plus.
· Strong ability to analyze large volumes of numeric data including proficiency with financial calculations.
· Strong computer skills; proficient in Microsoft Word, Excel and Outlook.
· Passion, great communication skills, self-motivation, positive and competitive attitude.
· Detailed orientated.
· Ability to effectively present information in one-on-one and small group situations.
· To adequately perform this position, the candidate must have knowledge of federal and state laws and regulations governing residential mortgage lending including but not limited to HMDA, RESPA, REG Z and ECOA Compliance.
· NMLS Licensing Required. Candidate is subject to initial and subsequent reviews and assessments of registry requirements through NMLS (Nationwide Mortgage Licensing System) as well as a review of their criminal background, credit report and NMLSR (Registry).
Note: This Job Description is not a complete statement of all duties and responsibilities comprising this position and may change with or without notice.
Candidates for certain positions may be required to submit to a credit history report in determining qualification for employment with University of Louisiana Federal Credit Union. If the position you are applying for requires a credit history report, any information received in such report will be not be the sole factor in making an employment decision. A history of personal financial irresponsibility may be reason for disqualification insofar as it relates to your potential job duties. University of Louisiana Federal Credit Union is aware that occasionally there are extenuating circumstances that may affect an individual's credit history. We comply with the Fair Credit Reporting Act and are an Equal Opportunity Employer.
Company DescriptionFederal Insured Credit Union
Company Description
Federal Insured Credit Union