Mortgage Loan Originator

Salary Range: $56,765.00 To $67,930.00 Annually

Responsible for originating mortgage loans using products offered by the Credit Union and lending partners. Works directly with members to receive real estate loan applications, gathers required supporting documentation, analyzes applicant’s credit history and determines the best product option available. Prepares loan file for processing. Must have strong understanding of lending guidelines, and applicable regulations including TRID among other state and federal regulatory requirements.

• Meet with members and assist them with completion of the Uniform Residential Loan Application (URLA) to ensure complete information.
• Gather background information and obtain tri-merge credit bureau report.
• Verify debts, assets, collateral, and applicant’s financial needs.
• Analyze loan application data including debt-to-income ratio, credit history, collateral, Loan-To-Value and Ability-To-Repay.
• Determine eligibility of applicants based on lending guidelines and qualifications.
• Pull flood zone certification reports, title reports and review, as needed.
• Send Adverse Action notices as required. Manager must approve all declines.
• Explain reasons for denial and explore other options for members such as credit builder or inhouse loan products.
• Structure the loan and prepare the file for submission to Processing.
• Work with Processor to issue initial disclosures timely.
• Assist and oversee file processing for Underwriting submission.
• Follow up with Processor to ensure all Underwriting conditions are satisfied upon loan approval.
• Request ARCH Private Mortgage Insurance (PMI) commitments as needed.
• Must be able to discuss mortgage related loan products including conventional mortgage programs, Alaska Housing Finance Corporation loans, USDA, HUD
  184, FHA, and VA.
• Ensure all loan files adhere to policies, procedures, product guidelines and meet federal and state regulations, as well as investor requirements.
• Monitor pending mortgage loan files to ensure they are closed or canceled in a timely manner.
• Participate in marketing campaigns and loan promotions.
• Build relationships with local real estate agents and other real estate professionals through networking opportunities.

• Participate in loan department meetings and annual loan goals.
• Maintain an orderly, neat, and clean workstation; cooperate in cleaning and maintaining shared work areas.
• Assist in overall credit union compliance efforts.
• Other duties as assigned.

• Must obtain NMLS licensing number prior to discussing or originating mortgage loans.
• At least two years of experience as a loan processor in a credit union or financial institution.
• Ability to effectively communicate verbally and in writing.
• Education equivalent to a four-year high school education.
• General computer proficiency with knowledge of the Credit Union core operating system and a variety of software including, Byte Pro, Loan Prospector, Microsoft Word, and Excel.
• Intermediate mathematical skills required (calculations and concepts involving decimals, percentages, fractions, etc.)
• Ability to work independently and as part of a team.
• Demonstrate organizational skills
• Required continuing education through webinars, workshops, internet courses as assigned.