Mortgage Loan Officer - Outside Sales

$35,360 - $35,360/Yr

Sandia Laboratory Federal Credit Union - Albuquerque, NM

Full-time - Mid Level

Albuquerque, NM

Credit Intermediation and Related Activities

About the position

The Mortgage Loan Officer - Outside Sales position at SLFCU is designed for a self-sourced Mortgage Loan Originator who will be responsible for originating, reviewing, and evaluating mortgage loan applications. This role requires a strong focus on providing superior service to members, aligning with SLFCU's mission of delivering a "close and caring touch". The officer will counsel members on appropriate financial planning and practices, ensuring they receive the best possible service throughout the mortgage process. In this role, the Mortgage Loan Officer will actively work to grow the credit union's membership by self-sourcing mortgage applicants. This involves building and maintaining relationships with referral partners such as realtors, builders, and other trade organizations. The officer will conduct interviews and process mortgage loan requests through various channels, including appointments, web applications, phone calls, and walk-ins. A critical part of the job is analyzing supporting documentation, evaluating creditworthiness, and utilizing credit reports to verify the accuracy of loan applications. The officer will also be responsible for providing a superior member experience by actively listening to and assessing member needs, explaining the features and benefits of targeted products and services, and offering tailored solutions. Proficiency in all mortgage loan products, except for construction loans, is essential. The officer will educate and advise members on financial planning, calculate loan payments, determine loan-to-value ratios, and make recommendations regarding loan approvals or denials. To succeed, the Mortgage Loan Officer must strive to exceed the credit union's service and sales goals by developing and maintaining member relationships, conducting cold calls, and following up with potential clients. The role also involves assisting the Mortgage Loan Manager and Marketing Department with Select Employer Group (SEG) development and maintaining partnerships with industry representatives to enhance member experiences and create future business opportunities. Meeting or exceeding annual origination goals set by management is a key performance indicator for this position. Additionally, the officer will be required to register and renew yearly with the Nationwide Mortgage Licensing System and Registry (NMLS) and participate in various SLFCU events and seminars as requested.

Responsibilities

• Assist in growing the credit union membership by self-sourcing mortgage applicants through referral partners.
• Interview and process mortgage loan requests via appointments, web applications, phone, and walk-ins.
• Analyze supporting documentation such as purchase agreements, warranty deeds, and appraisals.
• Evaluate creditworthiness and verify loan application accuracy using credit reports.
• Provide a superior member experience by actively listening and assessing member needs.
• Explain features and benefits of targeted products and services to members.
• Offer targeted solutions to meet member needs and demonstrate proficiency in mortgage loan products.
• Educate and advise members on financial planning, policies, and rates.
• Calculate loan payments and determine loan-to-value ratios.
• Make recommendations regarding approval or denial of loan requests.
• Strive to exceed service and sales goals through member relationship development.
• Conduct cold calls and follow-ups to maintain member associations.
• Cross-sell consumer and commercial products to members when appropriate.
• Assist the Mortgage Loan Manager and Marketing Department with SEG development.
• Maintain partnerships with industry representatives to enhance member experience.
• Meet or exceed annual department origination goals set by management.
• Complete all steps required to register and renew with the NMLS.
• Participate in SLFCU mortgage seminars and other events as requested.
• Perform other duties as requested by management.

Requirements

• Minimum three years' experience originating, underwriting, and approving mortgage loans.
• Ability to compare SLFCU products to marketplace products and cross-sell effectively.
• Good record of recommending loans for approval or denial.
• Understanding of laws and regulations governing lending and financial institutions.
• Solid knowledge of Microsoft Office applications and ability to learn in-house programs and third-party mortgage software.
• Thorough knowledge of the products and services offered by the Credit Union.
• Bachelor's degree in business or related field, or equivalent experience.

Nice-to-haves

• Prior experience with mortgage products is desired.
• Successful completion of a specialized course or study in real estate.

Benefits

• $35,360 salary draw with uncapped commissions.