Position Title: Mortgage Loan Originator
Reports to: Mortgage Loan Manager
Category: Non-Exempt / Base Pay plus Commission Salary
Status: Regular Full-Time
The Mortgage Loan Originator’s primary responsibility is to establish and maintain relationships with local professionals including Realtors, Mortgage Brokers, CPAs, Attorneys and other referral networks within our lending areas, to ensure continued mortgage loan volumes and quality growth. Another critical function of this position is to assist in establishing a strong relationship between members and the credit union during and after the origination process by providing general credit union information and cross and up selling additional credit union products and services.
This position is performance driven and involves a salary that has a base pay plus commissions.
Mortgage Loan Originator—Commission based
- $24,000 base salary and
- .50% on all realtor and mortgages directly (and verifiably) referred and worked
Responsibilities include, but are not limited to the following:
- Business Development –
- Develops business relationships within assigned territories,
- Maintains a quality network of real estate professionals, builders and other business referral sources
- Actively participates in business related development opportunities and community efforts to increase credit union visibility, enhance business opportunities and promote home-ownership
- Participates in closings when necessary
- Maintains flexible hours and has a willingness and ability to meet with members and brokers at night and/or on weekends.
- Mortgage Loan Originations –
- Maintains knowledge of credit union's core and mortgage loan origination systems.
- Meets with members, builders and realtors to discuss loan options,
- Interviews applicant and completes a mortgage loan application,
- Identifies the appropriate product offering and negotiates the terms of a loan
- Gathers and forwards all required information and documents to the RE Lending department for processing
- Completes preliminary analysis and evaluation of loan request according to applicable underwriting guidelines in effect.
- Preferred Business Partners –
- Maintains relationships with assigned preferred business partners including but not limited to builders and realtors to ensure desired volumes and quality
- Works professionally with vendor personnel and provides any information and support necessary to close and fund mortgages quickly and efficiently.
- Strategic Planning –
- Assists in the development and execution of the Real Estate Lending Business Plan with the goal of ensuring desired mortgage loan growth.
- Product Knowledge –
- Maintains knowledge of available real estate loan products,
- Acts as the primary resource in answering all RE loan related questions and concerns from members.
- Procedure Knowledge –
- Maintains knowledge of all credit union policies, procedures and guidelines
- Loan Support –
- Provides follow-up support to underwriting and/or processing
- Contacts applicant, broker and other sources to obtain additional information, clarification, and/or documentation needed to facilitate the final underwriting decision.
- Member Service –
- Based on information provided by the Mortgage Loan Department, recommends additional products and services to benefit the member.
- Performs necessary activity to help ensure TFCU retains mortgage loan and relationship for an extended period of time.
- Initiates immediate contact with members to addresses loan pay offs and refinances.
- Regulatory Compliance –
- Demonstrates a commitment to professional ethics and complies with all Federal, State and local laws, regulations and compliance policies.
- Training / Support –
- Remains current and up to date on current processes and products
- Trains new outside originators in business development techniques (as necessary) to ensure consistency and continuity in credit union efforts.
- Others Duties and Responsibilities –
- Performs other duties as required.
- Willingness to work in position that involves primarily commission based compensation.
- Working knowledge of Microsoft Office products.
- Goal oriented.
- Working knowledge of both portfolio and secondary market mortgage loan products.
- Working knowledge of mortgage loan origination systems.
- Good verbal and written communication skills.
- Strong attention to detail.
- Aptitude to work in an organized and structured manner.
- NMLS license required.
- Periodic lifting of up to thirty-five pounds may be required.
- Bending, squatting, twisting, kneeling and reaching above and below the shoulder may be required.
- Five years lending and mortgage experience.
- Financial institution or credit union experience preferred.
- Thorough knowledge of Tidemark FCU’s products and service.
- Thorough knowledge of mortgage regulatory, policy and compliance issues.