Home Loan Officer

MSUFCU • East Lansing, MI

12d • Hybrid

About The Position

The Home Loan Officer serves as a key point of contact for prospective borrowers, guiding them through the mortgage application process. This role involves conducting comprehensive interviews with applicants to assess their financial needs and goals, clearly explaining available loan programs and eligibility requirements, and gathering all necessary financial documentation. The Home Loan Officer performs an initial analysis of the applicant’s financial profile to determine whether minimum qualification standards are met and provides informed recommendations on suitable loan products. This position requires strong interpersonal skills, attention to detail, and a commitment to delivering a positive and compliant borrower experience.

Requirements

• High school diploma or equivalent
• Consumer lending background required
• NMLS number required in accordance with federal regulations
• Fannie Mae secondary market eligibility required
• Extensive experience in mortgage lending, including decisioning required

Nice To Haves

• College-related courses are desirable, real estate and finance coursework preferred
• home lending experience preferred
• Knowledge of state and federal lending regulations as follows: Truth-in-Lending Act, Equal Credit Opportunity Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act, Fair Housing Act, Flood Disaster Act, Real Estate Settlement Procedures Act, Rights to Financial Privacy Act, Home Mortgage Disclosure Act, Frank Dodd Act, and Regulation Z

Responsibilities

• Ensures phone coverage by adhering to the schedule, and remaining available to support members and staff during Credit Union business hours
• Originates home equity applications after conducting thorough interviews with members to ensure members are informed as to the home equity product and terms that will best fit their needs
• Assists members with mortgage products and applications with the assistance of an experienced Home Loan Officer
• Communicates with members on a regular basis as to the status of their loan application and documents member communication in application processing system
• Communicates with staff and management on a regular basis regarding application issues and/or status of member’s loan application
• Returns e-messages, phone messages and emails from members by the end of the day to ensure clear, concise communication
• Assists members and peers throughout the loan process to maximize loan closings and achieve origination goals
• Identifies and sells products and services, provides personalized financial education to enhance member experience, and achieves individual and departmental goals.
• Resolves member service complaints or errors; expends up to position’s authorized dollar amount of up to $150.00 when applicable to place the Credit Union in a better position, or to resolve problem situations with members
• Makes home equity lending decisions within assigned lending approval limits; or makes recommendations for preapproval or denial for Underwriter review
• Understands the Credit Union's policies and procedures to ensure compliance and accountability for managing operational risks.
• Adhere to established internal controls and procedures to safeguard assets, prevent fraud, and maintain the integrity of credit union operations
• Performs other duties as assigned
• Originates mortgage and home equity applications after conducting thorough interviews with members to ensure members are informed as to the mortgage products and terms that will best fit their needs
• Communicates with members on a regular basis as to the status of their loan, while also keeping third parties, including Realtors, up to date with the loan status
• Attends networking events, meetings, and luncheons with Realtors, Builders, Financial Planner, etc. to build relationships and attract home loan referral business
• Actively communicates problems, concerns and opportunities to Leads or Management which improves the department and/or Credit Union
• Acts within assigned lending approval limits to pre-approve applications independent of Underwriting, as appropriate, and makes recommendations for preapproval or denial for Underwriter review
• Mentors new Home Loan Officers
• Maintains an established network of Realtors, Builders, etc. and attends events such as Association of Realtors, Women’s Council of Realtor, Homebuilders events and others as assigned
• Creates and maintains a vast network of referral sources including Realtors, Builders, members you have worked with previously, etc. who contribute to the Loan Officer’s monthly business
• Resolves member service complaints or errors; expends up to position’s authorized dollar amount of up to $300.00 when applicable to place the Credit Union in a better position, or to resolve problem situations with members
• Acts within assigned lending approval limits to pre-approve applications independent of Underwriting as appropriate, and deny applications independent of Underwriting, as appropriate

Benefits

• 100% Company-Paid Health, Dental, Vision, Life, and Long-Term Disability Premiums
• Up to 26 days of PTO within your first year
• Volunteer Time Off
• 11 Paid Holidays
• 401(k) with a company match
• Tuition Reimbursement
• Up to 12 Weeks of Paid Parental Leave

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED