Direct to Consumer Loan Officer I/II (Z)

Bank of Hawaii • Honolulu, HI

9d • Onsite

About The Position

Under the direction of the Residential Loan Manager, the Direct to Consumer Loan Officer is responsible for generating loan volume from the real estate market. Responsibilities Level I: Gathers and reviews all income, asset, credit, title, property information and disclosures in a residential loan transaction for all loans including: Validates the information on the loan application and findings of the respective underwriting engine, pursuant to the bank and secondary requirements. Reviews all loan information, including, but not limited to credit reports, appraisal reports, tax returns, financial statements, income, and asset documentation. Calculates all income being used to qualify. Processes documents pursuant to investor, bank and regulatory guidelines. Ensures the integrity and consistency of data in the loan file and on the loan origination/processing system. Maintains productivity and quality of service standards, as established by Management, with respect to the approval of loans, including but not limited to submission of loan to underwriter for approval within specified timeframes, from the receipt of Intent to Proceed signed by the borrower for initial credit approval to final approval, pursuant to standards set forth by Management. Validates all point of sale income and asset documents with the information on 1003 and automated underwriting findings. Ability to process and manage a pipeline of 50 files. Ability to meet processing turn times for closing dates on Purchase transaction as set forth by the Deposit Receipt Offer and Acceptance (DROA) and specified lock expiration dates for all loans. Maintains a high level of customer service by being proactive and communicating effectively with borrowers, Loan Officers, Underwriters, external and internal customers, which includes other division employees, including Management. Completes Welcome calls and Follow-up calls with borrowers throughout the process of the loan. Develops and maintains effective pipeline management to meet processing turn times and transaction deadlines. Reviews and utilizes processor daily pipeline report to prioritize workload. Performs all other miscellaneous responsibilities and duties as assigned. Level II: Interviews applicants to determine their ability to qualify for residential mortgage products and cross sells other Bank of Hawaii products and services that meet the customers’ needs. Analyzes the applicant’s current and recent income, credit and debt picture in order to qualify them for the correct loan amount and program that best fits their needs. Understands and communicates federal and state regulations to the consumer. Uses this understanding to deliver adequate disclosures and accurate information on rates, programs and Bank of Hawaii policies. Understands program parameters and pricing in order to provide accurate loan options to borrowers as directed by the Residential Loan Officer. Understands compliance regulations related to the job function and delivers adequate disclosures to the consumer as well as proper guidance on the loan fulfillment process. Makes recommendations regarding loan approval to the chief underwriter with backup data to support the recommendation. This includes accurately assembling customer files and obtaining the documentation necessary to meet investor standards. Inputs customer information into a computer processing system and monitors the flow of loans through the system to meet successful closing dates. Answers phone inquiries and uses the phone and computer system to communicate information to customers about products and qualifications. Performs all other miscellaneous responsibilities and duties as assigned.

Requirements

• A credit report mandated by the Dodd-Frank Act to ensure demonstrated financial responsibility.
• Registration with the Nationwide Mortgage Licensing System & Registry.
• Bachelors degree from an accredited institution or equivalent work experience.
• Minimum 5 years of experience in the mortgage banking industry resulting in a good understanding of the loan process, qualifying criteria, individual product parameters and regulatory requirements or equivalent work experience.
• Good understanding of deposit products and at least 3 years of experience selling mortgages and any consumer banking product.
• Demonstrated proficiency with personal computers and Microsoft applications (Outlook, Word, Excel, and PowerPoint) or similar software.
• Ability to use a HP financial calculator.
• Knowledge of or ability to use Bank software and systems.
• Knowledge of Mortgage Origination Software Systems.
• Demonstrated verbal and written communication skills.
• Must be analytical, detail oriented, organized.
• Ability to work effectively and prioritize workload and multi-task to meet deadlines.
• Must have good math skills and ability to read and understand credit reports.
• Able to review and analyze large amounts of information and determine the appropriate loan product and type.
• Must have good follow up and customer service skills.
• Must be able to provide own transportation or to operate a vehicle with a valid driver’s license, and commute as required.
• Must be able to push/lift 25 lbs.

Responsibilities

• Gathers and reviews all income, asset, credit, title, property information and disclosures in a residential loan transaction.
• Validates the information on the loan application and findings of the respective underwriting engine.
• Reviews all loan information, including credit reports, appraisal reports, tax returns, financial statements, income, and asset documentation.
• Calculates all income being used to qualify.
• Processes documents pursuant to investor, bank and regulatory guidelines.
• Ensures the integrity and consistency of data in the loan file and on the loan origination/processing system.
• Maintains productivity and quality of service standards.
• Validates all point of sale income and asset documents with the information on 1003 and automated underwriting findings.
• Processes and manages a pipeline of 50 files.
• Meets processing turn times for closing dates on Purchase transaction.
• Maintains a high level of customer service by being proactive and communicating effectively with borrowers, Loan Officers, Underwriters, external and internal customers.
• Completes Welcome calls and Follow-up calls with borrowers.
• Develops and maintains effective pipeline management to meet processing turn times and transaction deadlines.
• Reviews and utilizes processor daily pipeline report to prioritize workload.
• Interviews applicants to determine their ability to qualify for residential mortgage products and cross sells other Bank of Hawaii products and services.
• Analyzes the applicant’s current and recent income, credit and debt picture.
• Understands and communicates federal and state regulations to the consumer.
• Delivers adequate disclosures and accurate information on rates, programs and Bank of Hawaii policies.
• Understands program parameters and pricing to provide accurate loan options.
• Understands compliance regulations related to the job function and delivers adequate disclosures to the consumer.
• Makes recommendations regarding loan approval to the chief underwriter with backup data to support the recommendation.
• Accurately assembles customer files and obtains the documentation necessary to meet investor standards.
• Inputs customer information into a computer processing system and monitors the flow of loans through the system.
• Answers phone inquiries and uses the phone and computer system to communicate information to customers about products and qualifications.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: Associate degree