What are the responsibilities and job description for the Residential Loan Officer position at Community Credit Union?
Job Summary:
The Mortgage Loan Officer will initiate the mortgage process for potential borrowers, preparing, analyzing, and verifying mortgage loan applications for the purchase or refinance of real estate. Stays up-to-date on current market trends, regulations, and mortgage programs is essential. Strength in sales and customer service is important with excellent communication and time management skills. *Spanish Speaking Preferred
Duties/Responsibilities:
- Meets with and interviews potential and current members to understand their lending needs including first-time mortgages and refinance of existing loans.
- Explains the differences between and approval requirements of various types of mortgages; prepares and presents a lending package based on member specifications.
- Assists members with completion of mortgage applications, inspecting completed documents for accuracy and thoroughness.
- Reviews loan applications, gathers credit histories and reports, and assesses applicants’ capacity to repay and default risk.
- Maintains knowledge of trends and developments in the local real estate market; current and predicted lending rates; and changes in rules, regulations, and best practices of various mortgages.
- Develops and maintains contacts with local realtors, developers, and builders to promote and encourage the use of bank services for residential mortgages.
- Performs other duties as assigned.
- Be the Ambassador of the Credit Union by attending networking and community events.
- Conduct outbound sales calls
Required Skills/Abilities:
- Excellent interpersonal and customer service skills.
- Excellent organizational skills and attention to detail.
- Thorough understanding of Federal Housing Authority (FHA), Veterans Affairs (VA), Federal National Mortgage (Fannie Mae), and other types of conventional loans.
- Proficient with Microsoft Office Suite or related software.
Education and Experience:
- Bachelor’s degree in Finance or Business Administration preferred.
- At least three years of prior experience in lending or related field preferred.
Equipment Used:
General Office Equipment. Software used: Word, Excel, Outlook, Calyx, DU, FiServ Cleartouch, other
Physical Requirements:
- Prolonged periods of sitting at a desk and working on a computer.
- Must be able to lift 15 pounds at times.