Mortgage Loan Officer at Seattle Credit Union in Seattle, WA

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Description

Job Title:                COMMISSIONED MORTGAGE LOAN OFFICER

                              

Functional Area:    Lending                            

Department:           Home Loan Center
Reports to:             Mortgage Lending Manager                                                         

Employee Type:     Regular, FT

FLSA Status:         Non-Exempt 

 

Objective:

Originates quality residential mortgage loans under a variety of programs by establishing a solid referral base.  Cross sells Seattle CU’s products and lending services to the membership during and after traditional business hours and at off-site locations.

 

Essential Duties/Functions:

Responsible for producing high quality loans which meet investor guidelines and Seattle CU’s lending policy, while providing excellent member service.

  • Responsible for meeting minimum sales production goals set by Sr. Management.

  • Develops and maintains a network of internal and external referral sources, to include individual and organizations likely to produce mortgage referrals such as Real Estate Brokers, Attorneys, and Accountants, Builders, Financial Planners and other business professionals.

  • Promotes Seattle CU’s residential loan products by maintaining regular contact with referral sources to generate new mortgage business.

  • Originates mortgage loans, pre-qualifies borrowers, counsel prospective buyers to determine needs and match with appropriate Seattle CU programs.

  • Plan, coordinate and participate in activities which promote homeownership, including homebuyer seminars, home shows, broker’s meetings and other home financing workshops.

  • Maintains community involvement by serving on boards of organizations in relevant Credit Union approved areas to positively represent the Seattle CU in the local community.

  • Ensures quality and timeliness of mortgage application documentation.Follows up with applicants for information as needed.

  • Maintains comprehensive knowledge of Seattle CU’s mortgage and other company products and services; maintains general knowledge of the mortgage industry, including maintaining in-depth knowledge of state and federal mortgage laws and regulations.

  • Responsible for complying with SAFE Act legislation, which requires annual registration renewal as a  Mortgage Loan Originator (MLO)

  • Completes Product/Service Knowledge Assessment within 90 days of employment with a score of at least 80%. (Note: This assessment may be taken as many times as needed to achieve this score)

  • Responsible for compliance and generating accurate loan disclosures in a timely manner including RESPA, Reg Z, HMDA and Reg B.

  • Effective pipeline management.Works with processor to effectively manage expected closing dates, provides timely and accurate information to borrowers and real estate brokers to minimize customer service issues and provide overall quality customer service.

  • Other duties as assigned.

Skills and Knowledge:

  • Superior sales skills

  • Strong interpersonal and communication (verbal/written) skills and the ability to work in a diverse community.

  • Proficiency in standardized software applications, including Microsoft Word, Excel, PowerPoint and Outlook.

  • Basic ability to analyze personal and business financial statements

  • Knowledgeable in regulatory, policy and compliance issues pertaining to the mortgage industry.

  • Thorough knowledge of all mortgage products and programs.

  • Good analytical skills necessary to evaluate credit requests and determine trends in a given market place.

  • Possesses excellent organizational and time management skills.

  • Possesses excellent attendance records.

Abilities:

  • Ability to work independently and prioritize workload.

  • Ability to handle stress in a high volume and fast paced environment.

  • Ability to communicate with tact, discretion, and courtesy within and outside the organization.

  • Professional appearance and demeanor.

  • Ability to perform basic math calculations (addition, subtraction, multiplication, division, percentages, debt ratios).

  • Provide proof of past and/or current performance.

Experience/Education:

  • High School Diploma or equivalent

  • Some college preferred

  • At least three years of residential lending sales experience which includes consistently meeting established sales / production goals.

  • Required experience includes producing work that meets sales goals and meets all compliance requirements (RESPA, Reg Z, HMDA, Reg B)

  • Solid knowledge and experience originating mortgage loans for FHLMC/FNMA, FHA and VA is preferred.

  • Knowledge of the Secondary Market

Working Conditions

  • Position will require travel to outside locations for Seattle CU events, for application interviews, and attend training.Position may also require some work before and after normal business hours for loan applications, training, RE community visits.Other times, work will generally be performed in an office environment.

  • Indirect exposure to robbery

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

 

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