Mortgage Loan Officer

NRL Federal Credit Union - Alexandria, VA

- Mid Level

Alexandria, VA

Credit Intermediation and Related Activities

About the position

We are searching for a Mortgage Loan Officer to actively solicit and originate first mortgages from sources outside Spectra CU's internal first mortgage origination efforts. Facilitate and assist applicants with the residential lending application process, manage borrower expectations and establish valuable trust relationships, resulting in repeat business and loan referrals. This position works with minimal supervision and has a Base + Commission pay structure.

Responsibilities

• Originate first mortgage loans that meet qualifications under various Spectra CU investor loan programs and guidelines.
• Establish and maintain business contacts that will generate potential new loan volume, including real estate brokers, realtors, and builders.
• Collect, examine, and evaluate the borrower's financial and personal data to counsel and recommend appropriate residential lending products.
• Provide counsel on the advantages and disadvantages of various mortgage loan products based upon the borrower's needs and financial picture.
• Determine and acquire support documents needed/required based on loan investor guidelines.
• Analyze applicant data, credit, and collateral property value to determine the accurateness of information and to preliminarily determine if the borrower meets investor guidelines.
• Correspond, communicate, and coordinate with Spanish-speaking and non-Spanish speaking applicants, in-house support staff and outside service providers to facilitate timely closings.
• Ensure all regulatory disclosures timely comply and provided to the applicant.
• Understand and comply with all aspects of the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), Real Estate Settlement Procedures Act (RESPA), the Truth in Lending Act (TILA) and all other laws, regulations, and policies governing the duties and responsibilities of the Loan Officer.

Requirements

• A minimum of 2 years mortgage lending origination experience dealing with conforming residential mortgage loans underwritten to Fannie Mae, Freddie Mac and other private investor guidelines.
• High School Diploma.
• Must possess a valid NMLS registration.
• Demonstrate knowledge of applicable lending regulations and compliance.

Nice-to-haves

• Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.
• Ability to effectively present financially complex information and respond to questions from applicants, members, staff, and managers.
• Knowledge and proficient use of computer applications to include spreadsheet and word processing programs.
• Knowledge of member services/loan policies and procedures; knowledge of basic mortgage servicing.
• Knowledge of Fannie Mae guidelines.
• Excellent oral and written communication skills.
• Decision-making skills and problem-solving ability.