What are the responsibilities and job description for the Mortgage Originator position at Eastman Credit Union?
Eastman Credit Union is seeking an experienced Mortgage Originator. This position is for Inbound Mortgage Origination. Some of the benefits include:
Work/Life Balance - 40 hours per week (November – February)/ Minimal Overtime (March – October)
Non-Commission, Competitive Pay
Benefits Include: Medical, Dental, Vision, 401(k), Paid Vacation, Annual Bonus Plan, Tuition Reimbursement, and more!
Promotional Opportunities and Career Development
Possibility of Floating within Tri Cities Region
Mortgage Loan Originator Functions:
- Interview prospective borrowers, determine borrowers’ financial goals, and present appropriate ECU product options
- Discuss loan pricing and lock options
- Gather application data such as income, assets, sales contract, etc
- Enter personal and financial information in loan origination system, and analyze applicant financial status to determine feasibility of granting loan.
- Deny application or submit application to Processing
- Review loan application and pertinent disclosures (loan estimate, closing disclosure, etc.) with applicants.
- Compile loan package and discusses loan terms with applicant in accordance with ECU guidelines and policies.
- Deliver loan package to Disclosure Desk in a timely manner (within 1 day of application)
- Confer with underwriter/processing to aid in resolving mortgage underwriting compliance
- Assist members with inquiries and information requests
- Inform loan applicant of credit decision
- Manages pipeline to insure timely loan processing and closing
- Promote and cross-service other ECU products and services as appropriate to member needs
- Continuing education – seminars and on-line training to stay abreast of changes in the mortgage lending industry
- Maintain working knowledge of mortgage regulatory compliance. Including but not limited to:
- Regulation Z –
- High - Cost Mortgages
- Higher Priced Mortgages
- Periodic Statement Requirements
- Adjustable-rate Disclosures and Requirements
- Ability to Repay
- Right of Rescission
- Home Mortgage Disclosure Act (HMDA)
- Regulation X
- Timely Escrow Payments and Treatment of Escrow Balances
- Error Resolution Procedures
- Requests for Information
- Force Placed Insurance
- Homeownership Counseling
- Regulation B – Equal Credit Opportunity Act
- Adverse Action
- Appraisal Delivery
- Qualified Mortgages
- TILA RESPA
- Fair Credit Reporting Act/FACTA
- Equal Credit Opportunity Act
- Right to Financial Privacy Act
- Flood Insurance Notification
- Maintain expert knowledge of systems used in the mortgage process
- ECU currently originates its mortgage loans in Ellie Mae’s Encompass system, also working knowledge of ValuTrac, OSI, Courthouse Retrieval, DU, Data Quick etc.
- Maintain expert knowledge of ECU Mortgage products and services.
- ECU offers a variety of loan products including: FNMA, VA, FHA and USDA products.
- ECU also provides a wide variety of specialty products, First Time Home Buyer, Purchase Plus, Construction, Select, Home Equity/Home Equity Line of Credit and Choice Loans to name a few.
- Team player. Ability to work well with all areas within mortgage department and ECU.
- Demonstrate exceptional attendance and punctuality practices.
Empathy, Reliability, Responsiveness, and Teamwork
