Loan Officer III
About The Position
The Loan Officer III is a senior-level lending professional who serves as a liaison between members and the credit union, providing high-quality service and expert financial guidance. The role interviews members, originates and underwrites consumer and real estate loans, prepares and processes loan documents, and handles DMV title and lien activities. It also has compliance and documentation responsibilities. The credit union registers the employee as a Mortgage Loan Originator (MLO) in accordance with SAFE Act requirements. The position represents the credit union to members, prospective members, coworkers, and the Downey community. The employee is expected to exercise sound business judgment, maintain a professional appearance, and demonstrate a positive, energetic, self-motivated, enthusiastic, team-oriented approach.
Requirements
- High school diploma or equivalent required.
- At least 2 years of experience in consumer and real estate loan underwriting.
- At least 2 years of experience in lending at a credit union or financial institution.
- Knowledge of title and registration processes, especially California DMV guidelines.
- Must be bondable.
- Must be registered by the credit union as a Mortgage Loan Originator (MLO) in compliance with the SAFE Act.
- California Notary Public commission required, or willingness to obtain one with credit union support.
- Strong verbal and written communication skills.
- Excellent analytical and problem-solving ability.
- Proficiency with Microsoft Office, including Word and Excel.
Nice To Haves
- Post-secondary education preferred.
- Bilingual Spanish highly preferred.
Responsibilities
- Interview members to assess financial needs and recommend appropriate credit union products and services.
- Guide members through the loan application process and ensure timely, accurate collection of required documents.
- Analyze credit reports and financial data to identify lending opportunities and mitigate risk.
- Explain loan denials professionally and offer alternative solutions where appropriate.
- Underwrite consumer and real estate loans within authorized limits and in accordance with internal policies and external regulations.
- Verify loan terms, prepare accurate documents, explain loan agreements, and obtain required member signatures.
- Fund loans in accordance with credit union guidelines and approved stipulations.
- Originate, process, and fund real estate loans offered by the credit union.
- Perform Mortgage Loan Originator duties in compliance with the SAFE Act.
- Prepare and submit title applications to the California DMV.
- Ensure lien perfection for secured auto loans and address discrepancies with members, dealerships, and DMVs.
- Process lien releases in compliance with California regulations after loans are paid in full.
- Comply with federal and state lending regulations, including BSA, AML, and OFAC requirements, as well as credit union policies.
- Maintain organized, accurate records relating to loans, titles, liens, and member interactions.
- Prepare and support audit responses and maintain detailed tracking reports.
- Coordinate with lending, collections, and compliance departments to facilitate loan processing.
- Communicate with third-party vendors, DMVs, and dealerships as needed.
- Promote a retail sales environment and support marketing efforts and community outreach.
- Assist in gathering documentation for CTRs and other reporting requirements.
- Perform other related duties as requested by management.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
Education Level
High school or GED
