Mortgage Loan Originator I

Mortgage Loan Originator I

• Job Type: Full-Time
• Exemption Type: Non- Exempt
• Wage Amount: $25.39 per hour

The Mortgage Loan Originator I (MLO I) plays an important role supporting members with their home-financing needs. This position focuses primarily on originating home equity loans and lines of credit delivering exceptional member service while learning the fundamentals of mortgage lending. Working under general supervision and following established policies and procedures the MLO I builds a strong understanding of A products lending guidelines and Mortgage Lending operations. As skills and knowledge grow the MLO I gradually expands responsibilities to include conventional conforming first-mortgage products.

MLO I Duties

• Originates home equity loans/lines of credit loans with a target product mix of approximately 80% home equity loans/lines of credit and 20% conforming conventional first mortgage loans.

• Collects and reviews loan application information for home equity and first mortgage files including credit reports income documentation and asset verification while learning how to evaluate full conventional first mortgage credit packages.

• Assists in evaluating interest rates and mortgage programs and recommends appropriate home-equity and introductory mortgage solutions to members with guidance from more experienced Mortgage Loan Originators.

• Explains loan terms conditions and requirements to applicants in a clear and member-friendly manner ensuring alignment with credit union policies and regulatory standards.

• Submits complete and accurate loan applications along with all required supporting documentation to the processing team building skill and confidence in preparing first mortgage files over time.

• Collaborates closely with the mortgage operations team to ensure loans move efficiently through processing supporting a smooth member experience.

• Utilizing the consultative conversations approach recommend other Credit Union products and services to enhance member relationships.

• Participates in training and development activities designed to expand knowledge of conventional conforming first mortgage purchase and refinance lending.

Miscellaneous Duties

• Stay current on all relevant mortgage lending laws and regulations ensuring all loan origination activities are transparent compliant and focused on protecting members while minimizing risk to the Credit Union.

• Complete all required annual compliance training as required by the Credit Union.

• Assist the mortgage leadership with special tasks and projects.

• Maintain confidentiality.

• Perform other duties as assigned.

Education and Experience

• High school diploma or G.E.D equivalent required.

• Bachelors degree is strongly preferred.

• Two years of financial institution experience required.

• Two years of sales-focused experience required.

• Two years of lending experience preferred.

Knowledge Skills & Abilities

• Knowledge of Home Equity Loan and Home Equity Line of Credit products.

• Knowledge of necessary documentation for disclosure and compliance purposes (Real Estate Settlement Procedures Act Truth in Lending Integrated Disclosure Rules Equal Credit Opportunity Act Fair and Accurate Credit Transactions Act Home Mortgage Disclosure Act).

• Excellent written and verbal communication skills strong math/accounting analytical and data entry skills.

• Attention to detail to provide accurate relevant and timely information to internal and external members.

• Ability to work independently and as part of a team with flexibility to adapt to change.

• Must be dependable self-motivated and require minimal supervision.

• Critical thinking skills including dealing with potential conflict.

• Bilingual Spanish preferred.

Certifications / Registrations

This position requires registration as a Mortgage Loan Originator (MLO) with the Nationwide Mortgage Licensing System (NMLS) and Registry on an annual basis in addition to maintaining updates as needed. Initial registration is required immediately upon hiring into this position. Failure to register or maintain a current registry or any criminal activity that would bar continued participation as an MLO may result in disciplinary action up to and including termination of employment.

Additional Compliance Requirements

All mortgage-related positions are subject to an additional background check at the time of hire and annually thereafter to ensure compliance with Federal National Mortgage Association (FNMA) requirements.

This background check includes verification against the following:

• GSA: General Services Administration
• EPLS: Excluded Parties List System
• HUD: U.S. Department of Housing and Urban Development
• LDP: List of Parties Excluded or Disqualified from Federal Procurement and Non-Procurement Programs
• FHFA: Federal Housing Finance Agency
• SCP: Suspended Counterparty Program

Failure to authorize the annual background check or the employee being listed on one of the prohibition lists above may lead to loss of the ability to participate in the mortgage origination or servicing process and disciplinary action up to and including termination of employment.

Cognitive & Physical Functions

• Must have the ability/stamina to work at least 40 hours a week.

• Will frequently reach feel bend stoop carry finely manipulate and key in data.

• Must be able to engage in problem-solving skills to help identify and solve potential issues in the field.

• Must be able to communicate heavily through telephone e-mail and in-person communications.

Desirable Traits

• Pleasant and professional appearance

• Enjoy working with public using courteous professional approach

• Dependable

• Organizer and planner

• Possesses decision-making abilities

• Well versed in all aspects of the Credit Union

Types of Decisions Requiring Supervisory Approval

• Loan situations outside the Credit Union and investor policies and procedures.

• Any loan situations that need/require loan exception authority.