What are the responsibilities and job description for the Mortgage Loan Originator I position at Commonwealth CU?
Our goal is to be an Employer of Choice, and it takes all of us to achieve this. That's why all Commonwealth Credit Union team members are expected to live our Team 1 culture in all facets of their position. This includes our commitment to Diversity, Equity, Inclusion, Accessibility, and Belonging.
At Commonwealth Credit union, we are united in our Common Purpose to Better Lives through OUR PASSION to Serve. This includes everyone, from our team members to the people in the communities we serve. That’s the emphasis of our Team 1 Culture. Together Everyone Achieves More. We believe We Better Lives when we cultivate diversity, promote equity, foster inclusion, are intentional about accessibility, and provide an environment where everyone feels like they belong. That’s an Extraordinary Experience. That’s Bettering Lives. That’s Team 1.
Our Mortgage Loan Originators assist members in determining their mortgage needs, evaluates their qualifications, and advises them on business and financial matters relating to mortgage loans.
They are responsible for business development through community involvement, referral systems and other activities. They process mortgage loan applications, establish and negotiate the terms under which credit will be extended, including cost, repayment method and schedule, and collateral requirements within policy.
They assist members in determining appropriate mortgage products available for their specific use, including KHC, secondary market loans, FHA and VA loans. They close approved loans, complying with applicable rules and regulations. They actively cross sell Credit Union products and services and stays abreast of the residential loan market -- keeping management informed of changes in market conditions.
They generate sales ideas and programs and assists management with special projects and presentations. They maintain knowledge of rules, policies and procedures governing all classes of loans. They offer assistance and sound guidance to staff, referring them to management when appropriate. They demonstrate strong communication skills. They are fully trained and acclimated to position duties and responsibilities and performs with minimal guidance.
They maintain a working knowledge of all regulations such as OFAC, Privacy Act, Reg Z, Reg X, ECOA, and any other additional new regulations affecting mortgage loan applications.
Registration in the National Mortgage Licensing System (NMLS) is required for this position. If not currently registered, the individual will be required to pass applicable background screening, which may be different from what was required to become employed by the Credit Union.
The duties and responsibilities of a Mortgage Loan Originator include, but are not limited to:
- Actively promoting all Credit Union promotional activities and products in daily interaction with members
- Meeting cross selling goals established for the department.
- Staying abreast of all applicable laws and regulations to ensure compliance by processor and originator.
- Maintaining technical skills in all mortgage operational systems (POS/LOS/Servicing Director and Meridian Link) and any other software programs necessary for accurate job performance.
- Organizing daily activities to ensure all tasks and follow up items are completed in a timely and accurate manner.
- Maintaining accuracy and efficiency with respect to file maintenance and deadlines in submission of loan approval, closing and audit.
SOME SATURDAY HOURS ARE REQUIRED
