Real Estate Loan Officer

3 weeks ago

Bellingham, United States The Ladders Full time
WECU is seeking a Real Estate Loan Officer to join our Home Loan team. In this role you'll deliver a superior member experience through efficient, knowledgeable, and timely residential mortgage origination.

This is an incentive-based position with a competitive commission program featuring a draw, an organizational bonus, and an outstanding benefits package.

RESPONSIBILITIES:
  • Promote the credit union as a real estate team member by making outside sales calls to brokers and real estate professionals using sales techniques and ability.
  • Participate in WECU sponsored community and credit union activities and events to promote the credit union and home ownership.
  • Meet with borrowers interested in or applying for real estate loans. Determine financial objectives and provide recommendations regarding loan programs, rates and terms. Gather information and/or documentation, and process applications as appropriate keeping borrowers informed throughout the process and through loan closing.
  • Provide timely, clear, and concise communication throughout the application process to include progress and next steps. This includes communicating loan application status on both approvals and denials as well as providing education and insight for future applications.
  • Attend all loan closings where possible.
  • Prepare and issue initial disclosures in accordance with current regulations.
  • Monitor all loans in process to ensure proper documentation is obtained in a timely fashion, communication is up to date, and all member and regulatory deadlines are met.
  • Ensure the confidentiality and security of loans being processed.
  • Must be registered as an MLO or able to register and acquire an NMLS number and comply with all S.A.F.E. act requirements.
  • Stay current on real estate law and secondary market guidelines using appropriate resources and research.
  • Actively cross sell other WECU products and services that would complement the member's financial needs.
  • Stay informed in all aspects of WECU's business plans, operations, changes to policy and procedure, as well as WECU's history and philosophy.
  • Follow policy and procedures related to Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP) and Customer Due Diligence (CDD) daily to ensure compliance with current regulations.
  • Follow policy and procedures related to OFAC by consistently running entities and non-member check payee names through the Bridger system.
  • Follow policy and procedures related to SARs by monitoring and reporting suspicious activity to the Compliance department. Notify immediate supervisor of any substantive discrepancies with respect to information obtained under the CIP, including fraudulent identification, fraudulent applications, etc.
  • Complete mandatory BSA/AML annual training via online web course.
  • Perform specific and delegated duties as assigned by management.
  • Process and order supporting documentation for all loan transactions. (i.e., appraisal, verification of employment, credit report, title commitment, etc.)
  • Assist members with subordination and partial release requests following guidelines
EDUCATION, SKILLS, AND EXPERIENCE:
  • High school diploma or GED
  • Two years of mortgage lending or outside sales experience preferred. Formal training should be supplemented with continuing education.
  • Working knowledge of the credit union's products and services
  • Working knowledge of organizational policies/procedures and credit union's service philosophy
  • Working knowledge of FNMA, USDA, programs, and underwriting requirements
  • Familiarity with Desktop Underwriter (DU) program
  • Strong technical experience with PCs, Word, Excel, and other related software
  • Strong external sales and networking skills
  • Strong problem-solving skills
  • Working knowledge of safety and security program for false alarms, robberies, bomb threats and extortion
  • Working knowledge of credit union's in-house computer system and real estate loan processing system
  • Knowledge of state and federal lending regulations
  • Ability to exercise judgment, initiative, and tact in dealing with members, management, and staff.
  • Ability to represent the credit union in a positive, professional manner in person, on the telephone, and in written correspondence.
  • Knowledge in processing and packaging secondary market loans
  • Business fluency in Spanish or another language preferred but not required.

COMPENSATION:

This commission-based position offers 75 basis points for originated residential loans as well as a guaranteed monthly draw.

WECU provides a comprehensive benefits package that includes medical, dental, and vision benefits with premiums for employee coverage paid in full, 401(k) retirement plan with an 8% annual contribution from WECU, bonus plan, two or more weeks of vacation, up to 11 paid holidays, paid life and disability insurance, annual wellness benefit, loan discounts, professional development, and much more.

ABOUT WECU:

WECU is a not-for-profit financial cooperative where members are encouraged to save and borrow responsibly at fair and competitive rates. Headquartered in Bellingham, WA, WECU has over 130,000 members and over $2.0 billion in assets.

It is WECU's mission to make a meaningful difference in the lives of our members. We strive to treat both members and staff with honesty and integrity and to be a socially responsible part of our community. WECU also endeavors to be an employer of choice.

WECU is an Equal Opportunity Employer that is committed to diversity and inclusion in the workplace. We make employment decisions on the basis of merit and qualifications, and seek to have the best qualified person in every job. WECU policy prohibits discrimination on the basis of race, color, religion, creed, sex, gender, sexual orientation, gender identity, marital status, age, national origin or ancestry, physical or mental disability, veteran status, genetic characteristics or information, or any other consideration made unlawful by federal, state or local laws.

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