Mortgage Loan Representative

About BankFund:

BankFund Credit Union is a full-service financial cooperative that was organized and chartered in 1947 as a convenient place for employees of the World Bank Group and International Monetary Fund and their families to save and to obtain credit. Located in Washington, DC, BankFund maintains three full-service branches downtown with our headquarters located near Farragut West metro station. This position is classified as a full-time on-site role which means that on-site work will be expected for each scheduled workday.

Summary:

Originate all BFSFCU real estate loan products (including, home equity loans, home equity lines of credit and first mortgage loans). Counsels members regarding BFSFCU products and services offered, and cross-sell loan products to members in an effort to add value and provide full financial services.

Responsibilities:

• Accept applications and interview members applying for first mortgage, and home equity loans from BFSFCU. Counsels and advises members with regard to their financial activities, explaining the different financing options available through the Credit Union. Review applications, credit reports and income verifications to ensure compliance with Credit Union lending policies, guidelines and credit standards. Underwrite all assigned applications to ensure compliance with Credit Union guidelines and credit standards. Make recommendations regarding the disposition of each loan request.
• Review Mortgage Pre-Qualification and Pre-Approval requests and issue Pre-Qualification and Pre-Approval letters in accordance with Bank-Funds mortgage underwriting guidelines.
• Sells and cross-sells products and services while talking with members. Achieves individual sales goals on a monthly basis.
• Explain Mortgage Lock-in procedure and Options. Lock member into requested program and collect and review necessary funds and documentation.
• Responds to written, in-person, e-mail and telephone inquiries from members, realtors and other interested third parties concerning Credit Union and real estate loan products.
• Acquires and maintains a strong knowledge of all Credit Union products and services in order to identify and meet the needs of our members during the evaluation stage of our IMPACT program.
• Discusses denied loans with members immediately following Underwriting denial. Advises members of corrective measures and additional lending options and other alternatives if available.
• Have a thorough knowledge of all Bank-Fund Staff Federal Credit Union lending programs. Including the necessary documentation for processing and obtaining underwriting decisions.
• Prepare all initial federally regulated disclosures on mortgage loans. Ensuring that the borrowers receive these documents along with necessary CFPB brochure within three days of receipt of an application.
• Coordinate the flow of information, communication, and documentation with the Mortgage Loan Processors, Mortgage Loan Underwriters and Mortgage Loan Closers. Organizes workflow to ensure maximum productivity and efficiency. Keeps member informed of loan status.
• Maintain effective communication with all Credit Union employees to ensure coordination and exchange of information to accomplish Credit Union goals.
• Must be able to obtain and maintain registration with the National Mortgage Licensing System (NMLS). Maintenance of their unique identifier number includes applying for an annual recertification through the NMLS database.
• Attend marketing, member, and/or realtor events to generate leads and maintain relationships with members and realtors.
• Successfully participate in annual Information Security refresher training. Comply with the Information Security Policy, including the immediate reporting of unusual or suspicious activity to management and the Information Security Officer. Follow all procedures to protect company computers from viruses, and to maintain the security and confidentiality of Credit Union data.
• Participate in annual Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) training and demonstrate knowledge and understanding of the BSA and OFAC, including the immediate reporting of unusual or suspicious activity to the Risk Management Department. Undertake additional training specific to daily responsibilities and as required to ensure continued compliance with all applicable regulations.
• Ensure the Credit Union’s safe harbor protections as allowed by the BSA. Understand that if confronted with knowledge of existence of a Suspicious Activity Report (SAR), an obligation exists to preserve the confidentiality of that SAR, as well as any information that may reveal the existence of a SAR. Maintain awareness of, and immediately report to the Compliance Officer, any unauthorized disclosure of a SAR, or unauthorized disclosure of information related to a SAR. Understand that failure to do so is a violation of federal law and may lead to both civil and criminal penalties for SAR disclosure violations.
• Demonstrates a strong commitment to BFSFCU’s IMPACT program.
• Undertakes other work-related duties as assigned by the Supervisor, Mortgage Loan Originations.

Minimum Qualifications:

Education:

• B.S. Degree in related field or equivalent combination of Education and Experience
• Must be eligible to register with the Nationwide Mortgage Licensing System & Registry (NMLS) and must maintain registration with NMLS as a registered Mortgage Loan Originator (MLO).

Experience:

• Prior Banking Experience required
• Strong understanding of Credit Union’s loan products and services
• Recent loan officer experience that adheres to recent regulatory changes is preferred
• Knowledge of IMC, OSI and Relationship Manager
• Well-developed communication and member relations skills
• Proven ability to organize and prioritize tasks in a fast-paced environment
• Impressive business writing skills
• Strong problem-solving abilities with the ability to think independently

For internal purposes, this position is graded as NE-7

The anticipated annualized base salary range for this position is $53,000 to $67,000. Final base salary for this role will be based on the individual’s job-related experience, skillset, training, certifications and market demands. The benefits available for this full-time position include but are not limited to: medical, dental, and vision insurance, 401(k) plan, life insurance coverage, disability benefits, tuition assistance program and paid time off, including paid parental leave benefits. In addition to base compensation salary, this role position is eligible for an annual incentive plan.