Mortgage Loan Officer

Wccu Credit Union - Wisconsin Dells, WI

Full-time - Entry Level

Wisconsin Dells, WI

Credit Intermediation and Related Activities

About the position

The Mortgage Loan Officer is responsible for professional and administrative loan origination work, including the implementation and coordination of approving or denying credit/loans to members. This role involves soliciting new business across various WCCU branch locations and collaborating with loan processing, closing, and servicing mortgage staff to ensure a smooth loan application process.

Responsibilities

• Gathers background information on loan applicants by interviewing them and obtaining credit bureau reports.
• Assists members with the loan application process to ensure completeness of information.
• Collects income, employment, assets, debt/liabilities, credit, and property information of applicants and co-applicants.
• Estimates all monthly payments for any outstanding debts not listed on the application.
• Calculates debt-to-income and loan-to-value ratios on loan applicants.
• Determines collateral needs and payment plans for members applying for loans.
• Determines the best loan product and options for applicants, ensuring compliance with underwriting guidelines.
• Reviews and approves or denies loan applications up to authority limits, explaining reasons for denial and exploring options for members.
• Verifies the accuracy of loan amounts and repayment terms on approved loan applications.
• Completes loan documents and disclosures accurately and timely, per lending laws and regulations.
• Recommends new loan products and services in accordance with management direction.
• Researches, analyzes, and reports on information impacting the area of expertise, including interest rates and real estate activity.
• Solicits new business sources and monitors trends in areas of responsibility.
• Travels to different WCCU branch locations to support and grow business, assisting with Loan Officer coverage during vacations.
• Conducts loan closings with applicants, reviewing final closing documents and figures.
• Implements relevant aspects of strategic plans and assists in achieving budgeted goals and objectives.
• Maintains current knowledge of accounting, compliance, and other policies, procedures, and guidelines.

Requirements

• Bachelor's degree in business or a related field, or equivalent combination of education and experience.
• 2-3 years minimum mortgage loan origination experience in a mortgage lending department.
• Knowledge of real estate loan policies, credit granting criteria, and required documentation for each type of loan.
• Professional sales experience is beneficial.
• Excellent communication and presentation skills.

Nice-to-haves

• Knowledge of interviewing skills and techniques required.
• Ability to work with a wide range of personalities in a courteous and effective manner.
• Knowledge of computer operations and loan processing software.

Benefits

• 401(k)
• 401(k) matching
• Dental insurance
• Flexible spending account
• Health insurance
• Life insurance
• Paid time off
• Parental leave
• Referral program
• Retirement plan
• Vision insurance