What are the responsibilities and job description for the MORTGAGE LOAN ORIGINATOR position at Hope Credit Union?
Title : Mortgage Loan Originator
Department : Mortgage Lending
Reports To : SVP, National Sales Manager
Supervises : N / A
Job Classification : Full-time, Non-Exempt
About Us
Recognized as one of the most successful Black and Women owned credit unions in the nation, HOPE continues to build its brand and impact by expanding access to financial services and engaging in advocacy to mitigate the extent to which factors such as race, gender, birthplace and wealth limit one's ability to prosper. Since 1994, HOPE has generated more than $3.6 billion in community development financing that has benefitted more than 2 million people in Alabama, Arkansas, Louisiana, Mississippi, Tennessee and nationwide. This work has supported small business owners struggling to gain access to capital, families seeking to own homes and individuals looking for a better way to manage their hard-earned money with a financial institution they can trust.
Job Summary
The Mortgage Loan Originator originates home loans, counsel's customers in mortgage financing, provides appropriate disclosures, and develops mortgage referral sources. The Mortgage Loan Originator is also responsible for developing new business in their regional area.
Primary and Essential Functions
- Leads and supports Strengthening HOPE Initiative that values an organizational culture for open communication, innovation, associate engagement and other traits that contribute to collaboration and high performance.
- Meet with applicants to obtain information for loan applications and to answer questions about the process. This includes, but is not limited to, initial review of pay stubs, tax returns, bank statements and credit bureaus.
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans with the ability of setting reasonable expectations of outcomes.
- Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- Obtain and compile copies of loan applicants' credit histories, financial statements, and other applicable financial information to determine eligibility for loan approval.
- Review and update credit and loan files.
- Review loan agreements / sales contracts to ensure that they are complete and accurate according to policy.
- Handle customer complaints and take appropriate action to resolve them.
- Confer with underwriters / processors to aid in resolving mortgage application problems.
- Market bank products to individuals and firms, promoting and cross-selling bank services that meet customers' needs.
- Develop relationships with realtors, builders and community organizations that aligns with Hope's mission.
- Ensure all feedback is communicated with the borrower in a timely manner
- Required to meet minimum quarterly / annual production goals. The goals will be set annually and will be at the beginning of each year and reiterated monthly. If the goals are not met, MLO may be subject to disciplinary action.
- Supports mortgage department by working on team-based opportunities to continue to develop new products to meet member needs and mission of Hope.
Secondary Functions
Desired Qualifications
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
Equal Opportunity Employer / Protected Veterans / Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
