Position - Mortgage Loan OfficerGeneral SummaryServe the credit union membership by providing and promoting prudent borrowing activities within the mortgage lending area. Assist in serving our membership by promoting and selling all credit union borrowing and savings products/services.
Essential Functions- Identify, develop and maintain outside contacts with realtors, builders, home improvement dealers, financial institutions, professional organizations/groups and others to develop business and the sale of mortgage loan/ other products and services of the credit union.
- Provide financial counseling on our mortgage loan products and follow through with scheduling, interviews, applications and closings on these products with potential new/current homeowners.
- Provide processing and underwriting skills that conform to the secondary mortgage market; credit and loan guidelines as set forth by the credit union and secondary market underwriting for loans.
- Gathering the necessary documents for timely and accurate loan processing
- Promote credit union membership and develop/maintain the knowledge/ability to cross sell all credit union products/services for new/current members.
- Maintain expertise in the mortgage lending area regarding compliance, regulations, product development/implementation, pricing, funding, portfolio quality and auditing guidelines.
- Maintain a working knowledge of credit union's data processing systems.
- Develop an understanding of credit union history, philosophy, organization, bylaws, and operational procedures.
- Conduct oneself in a positive professional manner in relationship to all credit union activities.
Additional Functions- Actively support our "sales and service "culture and demonstrate these skills by communicating to members the benefits and features of all our products and services.
- Expect and embrace change by being flexible and adaptable. Meet performance objectives and expectations (i.e. Sales, Quality Service and Reliability)
- Develop a working knowledge of competitors' products and services with a continued interest in improving quality services and products for the credit union.
- Complete in-house training based on required classes set up for this position. Continue education in other 2nd market mortgage loan products to better meet the needs of potential members.
- Assist in any area as directed by management.
Job Requirements- Two years of experience preferred with knowledge of mortgage lending regulations tied to FHA, VA, Conventional, NIFA and the continuing changes to system and other underwriting guidelines.
- College degree preferred in a related discipline (business, finance, etc.)
- Must demonstrate exceptional interpersonal skills and professionalism necessary for promotion and sales of credit union products and services, serving credit union members and projecting a positive attitude/image.
- Must demonstrate a high degree of accuracy with intermediate mathematical skills (calculations and concepts involving decimals, percentages, fractions, etc.)
- Will be required to exercise discretion and use effective independent judgment. The top candidates will be able to analyze complicated factual situations, apply functional principles and develop solutions. Judgment and decision making involve a variety of concrete variables where only limited standardization exists, including work governed by broad instructions and frequently changing conditions and problems.
- The ability to engage and perform work away from the credit union's places of business. A majority of the time will be spent away from the office promoting and selling credit union products and services and completing the related transactions.
Work Hours - Full-time
Wage- Fully commission based, paid bi-weekly. Outside sales position.
- Experienced candidate meeting goals estimated to earn $115k+ per year, exceeding goals $200k+ per year
LFCU Benefits & Other ProgramsInsurance Benefits
- Medical - LFCU pays 85% of premium, associates pay only 15%
- Dental - Free to employees
- Vision - LFCU pays 50% of premium
- Life and ADD - LFCU pays 100% of premium
- Short-term and Long-term Disability - LFCU pays 100% of premium
- AFLAC Supplemental -Cancer, Critical Care, Accident, Hospital - employee paid
- Flexible Spending Accounts (FSA) - Health Savings and Depending Care
Retirement Plan - LFCU contributes 5% of employee earnings to Profit Sharing. LFCU matches 100% up to 3% and 50% for 4% and 5% of associate's 401(k) contributions (total match 4%).
Additional Programs
- Quarterly all-staff professional development
- Tuition Reimbursement
- Fitness Club Reimbursement
- LFCU Apparel - 2 free items annually
- Jeans Day options with charity donation
- Free Breakfast Monthly
Compensation Estimate $115-200k+ per year
