Mortgage Loan Originator- Hybrid
POSITION TITLE: Outside Mortgage Loan Originator
DEPARTMENT: Mortgage Lending
POSITION FUNCTION
This position requires a self-driven, ambitious individual who possesses a current book of business and has the proven capability to form and maintain professional relationships within the community. A key responsibility is soliciting new business and expanding the business of current members by selling the Credit Unions mortgage financing capability. 90% of the work week will consist of being on the road, developing relationships with attorneys, brokers, developers, and realtors to generate new mortgage business.
Compensation:
$50K Base Salary with .50% points commission structure starting at the first dollar.
Expectation of 1 Million minimum per month.
Excellent Benefits:
Our comprehensive benefits package includes medical, dental, and vision coverage; a generous first dollar HRA, 401 (k) plan, employer paid pension, paid time off, federal holidays off, ability to earn bonus days, birthday off; employer-paid life and disability insurance with additional buy-up coverage options; tuition and continuing education reimbursement; and other voluntary benefits.
ESSENTIAL FUNCTIONS:
- Interviews and counsels' members regarding residential and investment mortgage applications to help determine their eligibility.
- Inform members of various mortgage products as well as cross-selling other products offered by the credit union.
- Keeps informed of the current trends and developments in the local real estate market as well as changing rules and regulations; communicates these changes to all appropriate team members in a timely fashion.
- Establishing and maintaining a customer and referral basis by making calls and scheduling visits to potential realtors, investors, builders, and attorneys as assigned; and maintains detailed records for the same.
- Attend community, realtor and industry events and organizational meetings to establish relationships with local businesses and individuals. Seek business opportunities for the Credit Union as they arise.
- Performs preliminary underwriting of loans to determine DTI, credit and Loan-to Value rations in accordance with the FRMCU and the secondary market guidelines.
- Ensures accuracy and completion of loan applications. Generate applications and necessary forms needed for the processor to proceed with processing the application. Provide all documentation to the mortgage processor in a timely manner so that the loan may close.
- Maintains effective communication with all FRMCU employees to ensure coordination and exchange of information to achieve goals and provide a positive member experience.
- Ensure all documents collected up front are accurate and adhere to policy, checking for conformity to regulations (federal, state and credit union).
- Responsible for production goals set forth by management.
- Perform other duties as assigned.
ADDITIONAL RESPONSIBILITIES
- Maintains a required level of quality and quantity of work.
- Assists in all areas of the department as needed.
- Continues to acquire the necessary education to maintain knowledge of federal and state rules and regulations to ensure compliance.
- Flexible schedule, including some weekends to meet the needs of members and generate new leads to increase production.
PHYSICAL DEMANDS:
- Hand dexterity required to operate computer terminal and/or related equipment.
- Eye coordination required to operate computer/teller terminal.
- Sitting at desk or computer workstation for periods of time.
- Travels to Credit Union facilities/locations as required.
- Drives to and attends meetings as required.
- Moves around credit union between levels or floors while performing duties.
- Bending and stretching in work area.
- Speaks and listens to members and explains credit union services.
- Ability to lift up to 20 lbs. with or without assistance
- Safe driving record
Location:
Hybrid work schedule with a one day per week in office requirement.
This position description covers the more prominent duties performed, and is not limited to other work duties that may be assigned.
Requirements:- Previous mortgage lending experience with portfolio
- Ability to communicate both orally and in writing to explain detailed lending concepts to a diverse customer base
- Must have and maintain, or be eligible for NMLS registration
- Working knowledge of a wide range of lending procedures and products
- High school diploma or equivalent required, college degree preferred
- Must have a valid driver's license and good driving record