Description

MORTGAGE ORIGINATOR

Department :Mortgages

Reports To :Mortgage Manager/VP of Lending/Chief Lending Officer

Pay Classification: Salary

FLSA Status :Exempt

Position Grade: 10

SUMMARY

To assist the credit union in achieving its mission statement, “PFCU WILL DELIVER FINANCIAL WELL-BEING WITH VALUE, CONVENIENCE AND EXCEPTIONAL SERVICE”. The Mortgage Loan Originator (MLO) is responsible for proactively generating mortgage loan applications through outbound calling, relationship building, and referral development. This role focuses on driving new business by educating borrowers on mortgage solutions, guiding them through the process, and achieving individual production goals defined in a structured incentive plan. This includes, taking advantage of every opportunity and seeking out opportunities to grow loans secured by real property at PFCU by taking ownership of all situations for maximum sales. Support, model & adhere to PFCU’s Service Standards as outlined in My MARC.

ESSENTIAL FUNCTIONS, DUTIES, & RESPONSIBILITIES

· Solicit outside referrals through attending networking events and meetings with realtors and other applicable parties.

· Originate first mortgage, home equity, and HELOC loans.

· Interview applicants to determine financing objectives and goals.

· Analyze member mortgage applications and collect supporting documentation to determine best mortgage products based on member’s needs and financial goals.

· Educate and update members regarding the loan process, timing, interest rates, and closing costs.

· Summarize the loan requests, prepare submission packages, and submit to the various lending authorities for decision.

· Mortgage Lending Sales Performance:

§ Performs outbound calls to prospects, leads, and referral partners to generate mortgage applications.

§ Meet or exceed sales goals by identifying members’ financial needs and fulfilling those with Credit Union products and services.

§ Sell and convert competitor held loans secured by real property; accept applications in person, by telephone and through internet applications

§ Perform consistent daily outbound calling to assigned lead list and self-generated prospects.

§ Perform outbound calls to members who came in for other lending or other financial services, and proactively educate members on PFCU mortgage and/or home equity options in an effort to convert loans to the credit union, including mortgage loan referrals received from Consumer Loan Origination team.

§ Meet or exceed minimum call, contact, and application benchmarks established by management.

§ Actively manage pipeline to drive steady loan closings.

§ Refer consumer loan product cross-sell opportunities to a Consumer Lending Originator

§ Sell all supporting products and services offered by PFCU.

§ Complete external business visits and establish referral relationships.

§ Maintain thorough knowledge of the Credit Union Mortgage products, lending policies and the secondary market programs available to members. Capable of discussing various loan alternatives and closing costs with members.

§ Accept applications sent over from Branch Offices, and by phone.

§ Prepare and send out proper disclosures.

§ Responsible for ongoing communication with the members and notification of approval or denial of mortgage request.

§ Perform mortgage servicing functions, as needed.

§ Maintain cleanliness and security of work area and equipment, including protecting the confidentiality of member information.

· This position is subject to SAFE Act Registration Requirements. Pursuant to the SAFE Act requirements, all loan officers engaged in residential loan mortgage originations (as defined by the SAFE Act) must register with the federal registry system and maintain a status in good standing under the SAFE Act requirements. Failure to register successfully or to maintain a status in good standing under the SAFE Act will affect your eligibility for continued employment and may result in your immediate termination.

· Seek training opportunities to develop or enhance through training, conferences, reading etc. Willingly participate in and attend educational functions and meetings as requested by management.

· Perform other duties assigned.

REGULATORY COMPLIANCE

Follows regulatory and policy compliance requirements which would include those efforts in compliance with Bank Secrecy Act (BSA), Office of Foreign Asset Control (OFAC), Red Flag and Anti-Money Laundering (AML) Regulations, and other compliance related policies.

CONFIDENTIALITY

This position requires maintaining confidentiality with regard to non-public information about our members, employees and the Credit Union. We must protect the confidentiality of member information. Financial transactions are confidential and private. With account access, employees are to handle member information responsibly and confidentially.

SECURITY

To ensure the safety and security of all employees, employees must follow all security policies and procedures at all times. Security is the responsibility of all employees.

QUALIFICATION REQUIREMENTS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education Requirements

High School Graduate or equivalent

Work Experience

Minimum of two years mortgage origination or outbound sales experience is required, two or three years is preferred.

Language Skills

Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or government regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, employees, clients, members, and the general public. Excellent communication skills.

Mathematical Skills

Ability to add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent.

Reasoning Ability

Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Must have the capability to deal with problems involving concrete variables in standardized and non-standardized situations.

Other Skills & Abilities

· This position is subject to SAFE Act Registration Requirements. Pursuant to the SAFE Act requirements, all loan officers engaged in residential loan mortgage originations (as defined by the SAFE Act) must register with the federal registry system and maintain a status in good standing under the SAFE Act requirements.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to stand; use hands to finger, handle, and feel objects, tools, or controls; reach with hands and arms; and talk or hear. The employee frequently is required to walk and stand. The employee is occasionally required to stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 50 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in work environment is usually moderate. While performing the duties of this job, the employee occasionally works near moving mechanical parts, and is occasionally exposed to risk of electrical shock.

Mental Demands

The employee is frequently required to use alertness, precision, resourcefulness, problem solving, numeric calculations, persuasiveness, auditory perception, memory, creativity, judgment, writing ability, reading ability, reasoning, imagination, patience, visual perception, comparing, and analyzing.

PFCU is an equal opportunity employer