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Mission Federal Credit Union

Job: Mortgage Loan Originator

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Jobing Description

Job Details
Experienced
SORRENTO MESA CORPORATE OFFICE - San Diego, CA
Exempt
High School
Real Estate
Description

SUMMARY: Originates residential mortgage loans for Mission Fed members and potential members from sources of referral business such as real estate agents and builders. Works with real estate agents, other mortgage referral sources, and the builder community to market and communicate Mission Fed mortgage products and services in order to generate a consistent and ongoing flow of purchase mortgage applications and closings.


KEY RESPONSIBILITIES:

1. Markets and sells mortgage loans to sources of referral business:
* Engages in outside marketing and promotional activities to support individual mortgage sales by making office visits, making presentations, attending open houses, frequenting trade shows and local Realtor/trade events.
* Conducts in-person calls to real estate agents, builders, financial advisors and other potential referral sources to develop new individual borrower leads.
* Generates referral business leads and develops constructive and cooperative working relationships with the housing industry that work with our members to find homes.
* Originates mortgage sales by contacting prospective clients and analyzing potential loan market to develop referral networks in order to locate members seeking financing for home ownership.
* Identifies and contacts members referred by real estate agents and/or builders who may be or have expressed interest in applying for mortgage loans for purchase and refinance transactions.

2. As part of the sales process, interviews and counsels prospective mortgage clients face-to-face, over the telephone, and by e-mail to facilitate and close the sale, including:
* Provides detailed information about Mission Fed’s mortgage loan products and clarifies complexities of the mortgage loan process.
* Evaluates and recommends financing alternatives based on individual members’ qualifications.
* Conveys the benefits of the Mission Fed mortgage products, assists the applicant in selecting the best-fit mortgage and takes the application.
* Reviews the application for preliminary analysis as well as completeness and integrity of loan data.
* Reviews the automated recommendation to approve the loan or refer it for further analysis.
* Determines applicable loan conditions and documentation requirements for approved loans.
* Advises the member of loan conditions and documentation requirements.

3. For referred loans, analyzes areas of concern and determines proper course of action (e.g., obtains explanations for derogatory credit) in order to close the sale consistent with Mission Fed lending criteria and guidelines.
* Requests and obtains documentation needed and forwards to internal Loan Rep, Processor and/or Mortgage Underwriter.
* Maintains working relationship with team members and assigned Loan Rep regarding loan progress and required processing information (e.g., verifications of employment, assets, income, and liabilities; appraisal reports, Mission Fed and investor requirements, etc.)
* Follows up with client and loan underwriting/processing team members on unanswered requests for documentation.

4. Maintains contact with the member client, realtor and/or builder during the entire loan process:
* Develops, creates, conducts, and/or participates in events to build on-going business for Mission Fed such as Homebuyer Seminars, trade shows, tent sales, branch office promotions, etc.
* Responds to inquiries and resolves problems regarding processing of the loan
* Ensures that the processing and loans are in compliance with federal laws, and Mission Fed, NCUA and secondary market practices, guidelines, and regulations.

5. Supervises and/or coordinates with in house Mission Fed employees involved in underwriting and loan processing activities on loans initiated by the sales person to provide the customer a central point of contact throughout the loan sale.

6. Maintains in-depth knowledge of and complies with all Mission Fed, departmental and security policies and procedures, as well as, federal regulations applicable to the position, including BSA requirements. Completes all required compliance training as assigned.

7. Performs other duties as assigned to facilitate and close sales.

Qualifications

Education: High School Diploma, G.E.D. or equivalent is required.

Experience: Minimum of three years of experience in mortgage loan origination with emphasis in out-bound sales in a commission pay environment. Working knowledge of FNMA/Freddie Mac, FHA/VA underwriting guidelines is required. Working knowledge of federal and state regulations, including RESPA, TILA, ECOA and HMDA requirements, loan documents, appraisals, surveys, title policies and homeowners insurance policies is required


COMPETENCIES:

Skills & Abilities: Excellent sales and consulting skills. Thorough understanding of the local real estate market and the mortgage industry. Ability to build long term networking relationships of community/industry contacts, fostering real estate lending business. Working knowledge of FNMA/Freddie Mac underwriting guidelines is required. Working knowledge of federal and state regulations, including RESPA, TILA, ECOA and HMDA requirements, loan documents, appraisals, surveys, title policies and homeowners insurance policies is required. Excellent interpersonal and communication skills, including presentation and facilitation skills.

Software: Microsoft Office Suite, Internet, Symitar, FNMA Desktop Underwriter, All Regs, Accenture Mortgage Cadence system, Imagility, Prime Valuations, and Symphony.


PHYSICAL DEMANDS/WORKING CONDITIONS:

  • Constant sitting.
  • Frequent repetitive use of the hand involving simple grasping.
  • Occasional lifting & carrying 0-25 lbs.
  • This position entails customarily and regularly making sales away from Mission Fed offices, as well as the employee’s home office. The expectation of this position is that the sales employee will spend 80% or more of their time away from the office meeting with customers and prospects to identify and close sales.
  • A current driver's license in good standing is a requirement of the position.

**Critical features of this job are described under the headings above. They may be subject to change at any time due to reasonable accommodation or other reasons. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential job functions.**

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