Mortgage Loan Officer
USALLIANCE Financial, United States
Job Description
The MLO is an essential member of the Originations Team who captures Mortgage application leads both internally and externally. The MLO will actively search external sources to continually build application volume. Fundamental tasks include but are not limited to handling incoming member real estate loan inquiries and applications, helping members identify the program(s) that best fits their needs, determining eligibility, and guiding qualified members through the loan process. In addition to meeting all incoming volume to the Credit Union, it is expected that the MLO will effectively pursue new leads independently. This person will be expected to maintain up-to-date knowledge of all phases of the Real Estate Lending process, including but not limited to program features and benefits, documentation requirements, general policies, procedures, guidelines, compliance, origination systems and the loan disclosure processes. They will also be expected to advocate for all their files through the various stages of the process.
- Extensive external search for new applications.
- Acting as Mortgage Loan Officer on new member loan submissions including insuring loans meet guidelines, following delivery receipt processes and procedures for all applications received, interviewing members to review and validate information submitted on their online loan application to insure accuracy and completion, working with members to insure they have chosen appropriate product to meet their overall borrowing goals, completing all MLO related tasks to advance loan file to processing to meet TRID disclosure timelines.
- Review and follow-up on Pre-Qualification Applications. Pre-qualifying members for financing and issuing Pre-Qualification Letters as needed.
- Providing Members with timely and periodic status updates relative to their mortgage and home equity loan application.
- Maintaining up to date knowledge and understanding of Fannie Mae Guidelines, including loan level pricing adjustments (LLPAs), as well as USALLIANCE Portfolio Product Guidelines.
- Assist with incoming leads and phone calls in answering prospective applicants and member questions, directing them to the appropriate resources.
- Maintaining up to date knowledge of all State, Local and Federal Regulations relative to Real Estate Lending.
- Working with Loan Processors and Underwriters to obtain outstanding conditions from Members.
- Acting as a backup on Brokered Loan files, when needed.
Requirements
- Minimum of 5 Years of Mortgage Industry and Lending Experience (loan origination, account management, underwriting).
- Excellent verbal and written communication and sales skills.
- Ability to deliver exceptional member service and remain calm and courteous in stressful situations.
- Ability to handle multiple tasks and frequent interruptions.
- Ability to maintain accurate and complete files and records.
- Proficient knowledge and experience using MS Office and ability to learn and utilize various LOS and Core software support systems as required.
- Ability to follow processes and procedures.
- Ability and willingness to be a Team Player within the Department.
- NMLS Licensing through the Credit Union will be required.
- In depth knowledge of mortgage industry including Mortgage and Home Equity Lending, Fannie Mae Guidelines and Local, State and Federal Compliance, including up to date knowledge of TRID).
- Strong background in mortgage origination and sales.
- Ability to understand and work through borrower scenarios to recommend best financing options.
- Ability to communicate effectively and possess a can-do attitude.
- Be highly organized, conscientious and have great attention to details.
- Be self-driven and proactive
Benefits
- Medical and Dental Insurance
- Employer Paid Vision and Life Insurance
- 401(k) Savings Plan with Employer Match
- Flexible Spending Accounts for Health amp; Dependent Care Expenses
- Collaborative amp; Dynamic Co-workers
- Innovative amp; Relevant Technology Resources
- Career Planning
USALLIANCE Federal Credit Union, as an Equal Opportunity Employer, values and supports the diverse cultures, perspectives, skills and experiences within our workforce.