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Mortgage Loan Originator

4 months ago


Rochester, United States The Summit Federal Credit Union Full time
Job DescriptionJob Description

DATE: January 9th, 2024

STATUS: Full Time / Exempt

REPORTS TO: Mortgage Manager

LOCATION: Corporate

COMPENSATION: The starting salary for this position is expected to be $25,000 plus commission. The actual salary will be determined based on experience and other-job related factors, consistent with applicable law.

HOURS: 37.50 hours per week

SCHEDULE: Monday – Friday, 8:30am – 5:00pm

Position Overview


The Mortgage Loan Originator’s primary responsibility is to work to generate new business for the credit union, primarily through telephone and face-to-face interactions with members and referral sources. Additionally, the Mortgage Loan Originator is responsible for originating investment quality loans by selling the credit union’s mortgage loan products and services. The Mortgage Loan Originator will also participate in related business development projects including, but not limited to home buyer seminars and mortgage program presentations to generate new credit union business.


Essential Functions

  • Develop and maintain client referral relationships with realtors, builders, Summit branches, and member companies. Make sales calls on potential or existing clients to develop new business or maintain existing business.
  • Interview, pre-qualify and counsel applicants and potential home buyers; obtain all necessary documentation for complete and accurate applications.
  • Meet The Summit’s minimum production standard of 4 funded units per month on an ongoing basis, by taking accurate and complete loan applications. Collect, verify and analyze information regarding the applicant’s income, assets, investments, debts.
  • Oversee the loan approval process by monitoring the loan status and ensuring conformity with terms.
  • Advise the client regarding advantages and disadvantages on loan products.
  • Monitor and is responsible for communication from application to closing to all interested parties.
  • Assist in collecting additional documents and promptly communicating the loan status to all interested parties. Obtain loan documentation after closing, if necessary.
  • Keep informed of market trends and developments in the local real estate market and competitive environment and rules and regulations of secondary market agencies and other investors.
  • Prepare and facilitate mortgage presentations to prospective clients, staff, members and member companies.
  • Maintain a professional image and adheres to standards consistent with company policies and procedures.
  • Interact with other departments, branches as well as realtors, and builders.


Other Responsibilities

  • Promote and cross-sell all credit union products and services.
  • Participate in special assignments and projects as requested by the manager.

*Note: The above information on this job has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.


What We Provide You With

  • Work Life Balance
  • Collaborative Work Environment
  • 401(k)/Matching
  • Pension Plan
  • Generous PTO Allotment
  • Paid Training
  • Medical, Dental, and Vision Insurance
  • Employee Assistance Program
  • Employee Referral Program
  • Flexible Spending Account/ Health Savings Account
  • Tuition Reimbursement

Qualifications

Knowledge & Experience: Applicants must possess the following qualifications or an equivalent combination of education and experience:

  • Education: Associates or Bachelor’s Degree.
  • Experience:
  1. Minimum 3 to 5 years’ of mortgage loan originator experience.

Knowledge/Skills

  • Demonstrated judgment and decision-making ability. Excellent and effective communication skills both verbal and written.
  • Continue to expand knowledge of issues influencing industry and organization.
  • Must be able to work flexible hours and be willing and able to travel. Must possess a valid New York State driver’s license and reliable transportation.
  • Ability to work with basic mathematical concepts such as percentages, ratios and fractions.
  • Must possess a working knowledge of standard loan products in the mortgage industry and underwriting guidelines.
  • Must be active in the community and in those job-related organizations to enhance the network of beneficial contacts.

Abilities

  • Ability to read, write and communicate at a level consistent with the requirements of the position.
  • Ability to effectively present information and respond to questions from groups of managers, clients, members and the public.
  • Ability to communicate and interact with internal and external contacts including processors, underwriter, managers, staff, realtors, vendors and other clients.

Working Environment

  • Must be able to sit or stand for extended periods of time in an office or automobile.
  • Must be available to work flexible hours at the client’s convenience, including weekends and evenings or holidays.
  • This is a commissioned sales position for which compensation is based on performance and closed loan volume.

Licensure Requirements

  • In compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act) and the statute’s regulations, applicants must be eligible to register as a Mortgage Loan Originator (MLO). Candidates being considered will be subject to a credit check and fingerprinting.

Safe Work Performance Expectations

We expect our employees to follow all objectives for safe work performance and be responsible for their own actions and conduct. Our workers also play a significant role in the success or failure of our program.

EQUAL OPPORTUNITY EMPLOYER: The Summit Federal Credit Union is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, protected veteran status, or status as a qualified individual with disability.

Subject to the compliance requirements of all related federal regulations, including but not limited to; the Bank Secrecy Act (BSA), Anti Money Laundering (AML), Information Security and Privacy policies and procedures. Employees complete annual BSA, AML, Information Security, Privacy, and other job-related training requirements as established by the Summit and within deadlines.

*Note: The above information on this job has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.