Metro Credit Union

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Mortgage Loan Originator

at Metro Credit Union

Posted: 6/28/2019
Job Reference #: 499
Keywords: credit, credit union

Job Description

Location:
Chelsea - Main Office

State/Territory:
US-MA

Department:
Mortgage Lending

# of Openings:
5

MORTGAGE LOAN ORIGINATOR

FUNCTION:

A Mortgage Loan Originator (MLO) provides a financial service to the public exclusively related to obtaining financing for purchasing residential real estate and the refinancing of existing mortgages secured by residential real estate. The MLO works independently making sales calls on potential customer referral sources; such as, realtors, home builders, land developers, real estate attorneys, accountants, financial consultants, previous clients, etc

RESPONSIBILITIES:

  • Works outside the office representing Metro Credit Union (Metro) at business development functions and community events (as approved or directed by Metro).
  • Generates mortgage loans and achieves sales goals through self-generating leads. Represents the credit union in a professional manner; providing quality service and advice to potential customers.
  • Responds to self-generated inquiries regarding real estate lending products and calls on referral sources to obtain leads
  • Counsels applicants on credit and affordability and conducts pre-qualification/pre-approval analysis. Explains rate, terms, payment amounts and payment protection options (insurance) to the member. Provides all necessary information, analysis and comparisons to assist applicants with the application process and making sound financial decisions that is in the applicant’s best interest.
  • Completes mortgage applications received and provide initial disclosures as required on all new applications; including program selection and rate lock agreement, GFE and TIL.
  • Guides first-time homebuyers, through the application and mortgage process.
  • Maintains contact with pre-approved applicants on a regular basis.
  • Generates new mortgage business through approved promotional activities and expands new mortgage customer relationships.
  • Develops community agency and other external business relationships that will affirm Metro Credit Union’s commitment to meet local mortgage needs and counseling.
  • Assists in mortgage related workshops, expos or other industry associated function or organization as directed by Metro Credit Union.
  • Develops and maintains professional relationships with industry professionals such as realtors and counseling agencies.
  • Responds to e-mail and telephone inquiries on a timely basis at all times.
  • Provides re-disclosures to applicants as necessary according to regulations; change of circumstances.
  • Adheres to member verification procedures, compliance, credit union policies and procedures, and state and federal regulations.
  • Maintains a thorough knowledge of credit union products and regulations by attending all training, informational meetings, and required courses; incorporates the knowledge and skills into daily responsibilities to ensure that all inquiries and applications are taken in accordance to all federal and state regulations.
  • Informs applicants of denials and provides counseling to address the reason(s) for the denials.
  • Expends and maintains a robust customer referral network that will generate the mortgage leads needed to build a healthy pipeline of potential loan applicants.
  • Maintain an active MLO license with the National Mortgage Loan Service registry.
  • Performs additional duties as requested.

JOB COMPETENCIES:

  • Ability to communicate professionally well both verbally and in writing accurately and punctually. Ability to deliver presentations, share information and ideas and has good effective listening skills.
  • Understands duties and responsibilities, has necessary job knowledge, technical skills, understands organization mission/values, keeps job knowledge current, and is in command of critical issues.
  • Listens attentively to others, asks clarifying questions, actively listens, stays open to other viewpoints, manage distractions and interruptions.
  • Knows and explains product features/benefits, understands/sells the full product line, understands customer’s needs and goals, understands/responds to the competition, applies market knowledge.
  • Uses consultative and advisory methods efficiently to maximum sales promotions and incentive programs with the primary focus on the benefit to the customer.

KNOWLEDGE/SKILLS/EXPERIENCE/REQUIREMENTS:

  • Working knowledge of all state and federal mortgage regulations.
  • Minimum of two years mortgage experience preferred.
  • Working knowledge of Windows based applications including Excel and the Internet
  • Solid math skills including the ability to work with percentages and decimals
  • Excellent sales skills with ability to close a deal
  • Public speaking skills
  • Sales oriented
  • Possess good interpersonal and communication skills and strong desire to exceed
  • Self-confident
  • Satisfy all required professional courses as designated by Metro
  • Ability to maintain a high level of confidentiality
  • Ability to carry out his/her professional duties in good faith with honesty, fairness and efficiency.