Responsible for the timely, accurate review of mortgage loan applications received through branch, phone and online application channels. Ensures applications meet secondary investor guidelines and that mortgage systems reflect accurate transaction specific details. Ensures member and related industry professionals receive prompt contact and are provided relevant transaction information. Responsible for effective and efficient loan application pipeline management. Ensures that all member, realtor and builder contact is conducted with extreme professionalism. Originates long term, construction, lot, bridge, home equity and consumer credit loan products as needed or requested by manager. Understands and completes lending operations within applicable regulations. Provides support to branch and department staff, promoting Credit Union goals and objectives.
1. Assumes responsibility for effectively and professionally completing mortgage loan application review and pipeline management functions.
a Possesses a complete knowledge and understanding of home loan products and property types as well as home loan related software systems including investor automated underwriting systems.
b. Conducts an in depth evaluation of initial loan application information. Reconciles application information to credit report and AUS findings. Analyzes member provided documentation including income. Works to resolve any conflicting data between sources. Ensures loan request meets investor documentation and underwriting guidelines. Pursues all possible loan alternatives including obtaining a second review, when appropriate.
c. Enters additional information into Credit Union and mortgage processing system giving special attention to documenting conversations via electronic notes, early disclosure dates and loan progression statuses.
d. Promptly contacts members to discuss loan application, answer questions, convey documentation requirements, loan status and next steps so as to gain a shared understanding. Maintains contact within specified intervals and application progresses into the processing stage or loan request cancels.
e. Possesses an in depth understanding of interest rate lock policies and procedures. Able to thoroughly explain policies, discuss procedures and answer questions. Ensures rate lock protection requests are completed promptly in accordance with established policies and procedures.
f. Promptly contacts realtors or builders to discuss appropriate transaction details so as to solicit a shared understanding as well as promoting additional future business. Maintains contact within specified intervals until loan closes or transaction cancels.
g. Coordinates with MBDR staff to cultivate and maintain positive realtor and builder relationships.
h. Completes pipeline management reports as specified.
i. Ensures that every contact with Member, Realtor or Builder is fully documented and annotated in notes and the file reflects appropriate documentation.
j. Understands and completes lending operations in accordance with regulations of RESPA, ECOA, HMDA, TILA, Fair Housing, Fair Credit Reporting Act, Flood Disaster Protection Act and Utah State Code. Ensures that NCUA and established Credit Union policies, procedures and requirements are followed. Stays informed as to changes thereto.
2. Assumes responsibility for the effective and professional completion of assigned mortgage loan origination functions.
a. Interviews, pre-qualifies, completes application documents and analyzes preliminary documentation for loan requests. Discusses alternative lending, credit criteria, interest rates and loan documentation. Explains mortgage process, time frames to expect and interest rate lock procedures thoroughly. All in such a manner as to elicit a shared understanding and positive responses from members.
b. Meets initial application submission quality standard as well as member service and realtor survey expectations.
c. Provides MCLO branch support as needed or assigned.
3. Assumes responsibility for establishing and maintaining effective and professional business relations with members, realtors, builders and mortgage industry professionals.
a. Responds to requests and questions promptly and courteously.
b. Counsels members regarding money management and financial matters as it relates to mortgage lending.
c. Projects the Credit Union's professional image by maintaining a clean, secure and well maintained desk/work area, and follows Credit Union dress code.
d. Stays informed regarding changes and trends in the local real estate and competitive lending market.
4. Assumes responsibility for establishing and maintaining effective communication and coordination with Credit Union personnel and with management.
a. Coordinates functions with related departments and branches, providing support as needed.
b. Functions as an essential constituent of branch and mortgage department teams.
c. Keeps management informed of area activities and of any significant problems.
d. Attends and participates in meetings and committees as required.
e. Completes reports and paperwork accurately and promptly.
5. Assumes responsibility for related duties as required or assigned.
a. Actively and professionally cross-sells Credit Union services, stays informed of policies and requirements.
b. Stays informed on all pertinent legal and regulatory changes.
c. Completes special projects as assigned.