A Mortgage Loan Originator (MLO) provides professional mortgage services to members related to financing FSCU Real Estate products secured by primary residential property. MLOs work independently making sales calls on existing and potential member referral sources. Typical referral sources, with whom an MLO will seek to develop business relationships, include Realtors, home builders, land developers, real estate attorneys, accountants, financial consultants, real estate appraisers, and credit union employees. This is a sales position that primarily focuses on assisting members from direct leads but may also involve working outside the office to represent FSCU at business development functions and community events; visiting the offices of member referral sources; and meeting with loan applicants at a location convenient for them.
Essential Functions & Responsibilities:
65% - Interview, process, and close mortgage loans by collecting appropriate documentation from each applicant and delivering mortgage loan packages in the time frames set by management.
5% - Coordinate mortgage loan training and education for the staff.
5% - Work with the marketing staff in developing mortgage loan promotions.
5% - Develop referral contacts (realtors, builders, professional and personal contacts).
5% - Maintain knowledge of available loan products, processing procedures, and underwriting and general departmental guidelines.
5% - Manage pipeline for all originated loans through closing and complete required management reports.
5% - Communicate with branches and/or applicants of providing timely updates and progress reports.
5% - Performs other job related duties as assigned.
1. Ensure the department is providing professional, timely, personal service to all members and associates by responding to all messages and correspondence within 24 hours.
2. Develop and maintain a highly qualified staff possessing maintaining knowledge of all mortgage
products and rates both with the credit union and the industry as a whole, sufficient to meet the
daily lending demands for members.
3. Ensure all mortgage lending activity is in compliance with established policies. procedures, rules
4. Ensure the department meets or exceeds 100% of established goals.
5. Keep management informed regarding key operational issues affecting the department.
Knowledge and Skills:
- Experience: One year to three years of similar or related experience
- Education: (1) A two year college degree or (2) Completion of a specialized course of study at a business or trade school or (3) Completion of a specialized and extensive in-house training or apprenticeship program.
- Interpersonal Skills: A significant level of trust and diplomacy is required, in addition to normal courtesy and tact. Work involves extensive personal contact with others and is usually of a personal or sensitive nature. Work may involve motivating, influencing or training others. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas or services to others.
- Other Skills:
1. Knowledge of the secondary market and experience with first and second mortgage residential real estate lending; must have proven track record of selling and servicing loans.
2. Must have working knowledge of regulations affecting mortgage lending.
3. Must have good communication skills.
4. Must have working knowledge of spreadsheets and word processing software; be able to use PC and general office equipment including 10-key calculator.