Mortgage Loan Originator - Hampden County
Reports To: Manager, Real Estate Loan Originators
Salary Grade: Base plus Commission
Effective Date: June 2013
Position Summary: Utilizes proven sales ability in the mortgage lending field to achieve Credit Union mortgage lending goals and objectives within an assigned territory. Must operate within required state/federal laws, NCUA regulations and Credit Union lending policies, while ensuring that all loans accepted are fully documented and in compliance with such standards
Essential Duties and Responsibilities:
- Responsible for achieving established Credit Union residential mortgage loan market share and loan volume goals. Actively seeks mortgage applications from borrower/members needing funds in the form of mortgages secured by real estate.
- Services a branch network in an assigned territory to follow up on referrals and assist in training staff members with lending needs.
- Actively calls on Realtors, Attorneys and Financial Professionals in an assigned territory to solicit referral business.
- Participates in networking functions, Homebuyers Seminars and other functions to increase awareness of AEFCU’s Real Estate Business.
- Interviews mortgage loan applicants to explain various mortgage products available and to obtain pertinent financial and loan related information.
- Performs loan pre-approvals to analyze member financial position and to determine if credit lending criteria, established by the Credit Union are met. Explains alternatives for restructuring loan to meet Credit Union lending criteria as needed.
- Provides financial counsel to members to help in determining the mortgage or other loan product that best suits their financial needs. Cross-sells other Credit Union products and services as appropriate to meet or exceed member needs.
- Seeks solutions to members’ financial problems and concerns (i.e. poor credit rating, loan denial, etc.). Explains options and alternatives available to meet member financial needs (i.e. re-establish sound credit rating, restructure loans, etc.).
- Ensures that all terms under which credit is extended (i.e.: costs, repayment method/schedule, disclosures and collateral requirements) are within Credit Union policy, NCUA policy, meet compliance requirements of RESPA, ECOA, Truth and Lending, are fully documented and understood by loan applicant.
- Performs related duties and special requests as assigned.
Supervisory Responsibilities: None
Qualification Requirements: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience: Bachelor's degree from a four-year college or university and five to six years related experience and/or training; or equivalent combination of education and experience. Established territory in Middlesex, Hartford or Tolland County is highly preferred.
Customer Focus – Understands customer needs in order to provide an experience that exceeds expectations.
Collaboration – Builds trusting partnerships to impact positive change, improve operations, and align with organizational strategies.
Effective Communication – Ensures clear, appropriate messages are provided to others on a consistent basis.
Accountability – Takes responsibility for actions and behaviors.
Adaptability – Remains flexible to overcome obstacles and achieve results.
Emotional Intelligence – Manages own emotions; understands and is empathetic to emotions of others.
Other Skills and Abilities: Ability to operate a personal computer and other electronic tools with a high level of proficiency in such software applications as word processing, spreadsheets, Internet and E-mail. Ability to operate a fax, calculator and copier.
Certificates, Licenses and Registrations: Ability to successfully complete the registration process as a mortgage loan originator, (MLO) with the National Mortgage Licensing System and Registry, (NMLS), and ability to annually renew and maintain registration throughout employment. Must possess a valid driver’s license with a clean record and have reliable transportation.
Language Skills: Ability to read, analyze, and interpret vendor contracts, business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write business correspondence, procedure manuals and create reports. Ability to effectively present information and respond to questions from groups of managers, clients, members, and the general public.
Mathematical Skills: Ability to work with mathematical concepts and perform cost analysis. Ability to calculate figures and amounts such as discounts, interest, commissions, proportions and percentages.
Reasoning Ability: Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel objects, tools or controls; reach with hands and arms; climb or balance; and stoop, kneel, crouch, or crawl. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and ability to adjust focus.
Work Environment: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.
Mental Demands: The mental characteristics necessary to competently perform this job include the need to be accurate, organized, analytical, persuasive, able to problem solve, resourceful, precise and creative.