Mortgage Loan Officer
The Mortgage Loan Officer (MLO) is responsible for proactively soliciting new mortgage business and selling OECU mortgage products to meet loan quality and production goals. Support OECU’s strategic effort in growing the mortgage portfolio and delivering extraordinary service to members and potential members. Initiate processing and preliminary underwriting as well as communicate with underwriting to ensure timely closings. Performs duties in compliance with regulatory requirements including, but not limited to, the Bank Secrecy Act.
Essential Job Functions and Responsibilities
• The Mortgage Loan Officer (MLO) must be able to dress and conduct themselves in a professional manner.
• The MLO shall exercise his/her independent, business judgment and discretion in granting loan applications that are in the best financial interest of the applicant and of OECU and in denying loan applications not in the best financial interest of the applicant and/or OECU. The MLO then submits loans to underwriting along with a final overview of analytical findings and a recommendation regarding the loan to management.
• Educate and advise members on the home refinancing process and how to best determine the right mortgage loan option; interview applicants in order to provide and obtain information needed to originate the loan process, including review of the member’s application; schedule meetings to obtain detailed loan information, evaluate and consider such loan information and answer any questions regarding the lending process. The MLO shall also maintain timely communication with applicants throughout the process and answer questions about loan terms, underwriting process, credit report, escrow, closing expectations and how to manage their mortgage after the closing.
• Utilize business acumen to expand and develop OECU referral relationships
• The MLO must be the trusted source for financial solutions by delivering extraordinary service and value with members, establishing ongoing financial services relationships, providing continuing service on all loans, encouraging members to continue their relationship with OECU and expanding their use of available services to best meet the member’s individual financial goals.
• The MLO shall frequently conduct research and analyze potential new loans/members/relationships by evaluation, reaching out to members and using his/her experience, skills and business judgment to provide information regarding the menu of services and products offered by OECU
• Engage in continuing education and development regarding all applicable regulatory obligations, policies, and legislation to ensure all services rendered maintain both legal and OECU compliance requirements.
• The MLO shall regularly use, develop and update skills and tools, including lending software, to conduct an initial analysis of credit, underwriting and other financial information to evaluate and determine the best recommendations for mortgage options for all applicants.
• Generate production from an internal list of members that may not be taking advantage of OECU’s mortgage products via outbound phone calls, email, and other electronic forms of communication.
• Perform sales calls on leads referred to the mortgage department.
• Track daily and monthly production.
Experience
• 1-year experience
• Proven ability with negotiation and sales
Certificates/Licenses
• Ability to qualify with NMLS (Nationwide Mortgage Licensing System)
Position competencies:
Collaborates
Is an effective team player who adds complementary skills and contributes valuable ideas, opinions and feedback; communicates in an open and candid manner and can be counted upon to fulfill any commitments made to others on the team.
Decision Making
Makes good decisions based upon a mixture of analysis, wisdom, experience, and judgment; most solutions and suggestions turn out to be correct and accurate when judged over time; sought out by others for advice and solutions.
Effective Communication
Utilizes a variety of communication modalities effectively and appropriately across multiple channels.
Functional Expertise
Possesses a sufficient level of technical and professional skill or knowledge in position-related areas; keeps up with current developments and trends in areas of expertise; actively seeks ways to grow and be challenged using both formal and informal development activities.
Manage Complexity
The MLO is able to accomplish complex tasks with minimal guidance or instruction.
Member Focus
Builds and maintains collaborative relationships with internal and external members which result in member satisfaction with both the process and the outcome; therefore, sometimes requiring later than normal business hours and/or weekends.
Additional Requirements
Job Knowledge
• Intermediate knowledge with Microsoft Office (Word, Excel, and Outlook)
• Ability to learn proprietary computer software such as Episys Quest, FocusAgent, Xperience, etc
• Good organization skills and attention to detail and accuracy
• Experience in processing & closing conventional and HELOC mortgages
• Working knowledge of underwriting requirements
• Ability to read and understand a credit report and appraisals
Interpersonal Skills
Advanced written and verbal communication skills including good grammar skills, are required for working directly with applicants, co-workers and members; good telephone skills. Ability to create an atmosphere which promotes OECU’s Core Values by maintaining a high level of personal integrity, presenting a friendly, enthusiastic and professional demeanor while providing extraordinary service to members and fostering teamwork among employees.
Working Environment
Must be able to perform job functions independently or with limited supervision, manage ones time/workload and work effectively either on own or as part of a team. Must be able to read and carry out various instructions and follow oral instructions. Must be able to speak clearly and deliver information effectively. Must be able to perform basic mathematical calculations with extreme accuracy. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate the highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines/requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.
Physical Demands
Regularly – Perform primarily sedentary work with limited physical exertion and lifting of up to 20 lbs
Regularly -Capable of regular, reliable and timely attendance
Regularly -Must be able to operate office equipment including telephone, copier, facsimile, and calculator
Regularly -Must be able to routinely perform work on computer for an average of 6-8 hours per day
Occasionally – Must be able to work extended hours whenever required or requested by management
Occasionally – Must be capable of climbing / descending stairs in emergency situation.
Job Type: Full-time
Pay: $28,715.00 – $35,000.00 per year