Mortgage Loan Officer I (Purchase)

Navy Federal•Norfolk, VA

About The Position

The Mortgage Loan Officer I interviews and counsels members about first mortgage loans and takes mortgage loan applications. The role establishes and maintains relationships with members, guiding their mortgage loans from initial application through closing. It evaluates applicants’ qualifications, provides information about Navy Federal mortgage and equity loan products, explains the loan process, and recommends financing alternatives. The position also builds and maintains referral relationships with realtors, builders, and other centers of influence.

Requirements

Ability to work effectively and efficiently with automated systems.
Familiarity with accounting, credit, and/or lending principles and techniques.
Experience in member/customer service, preferably in a related field or industry such as realty, insurance, retail banking, or a financial institution.
Exposure to the lending application and approval process.
Familiarity with mortgage lending concepts and principles.
Familiarity with banking/financial industry standards and practices.
Register with the Nationwide Mortgage Licensing System and Registry before assuming employment duties; registration includes fingerprinting and background checks.
Effective database and presentation software skills.
Effective skill performing mathematical calculations and working accurately with numbers.
Effective skill in actively guiding members through interactions to reduce member effort and enhance member loyalty.
Effective skill in comprehending, analyzing, applying, and communicating complex written legal documents.
Effective skill speaking and/or presenting in front of groups in a professional setting.
Effective word processing and spreadsheet software skills.

Nice To Haves

Working knowledge of Navy Federal Mortgage Production and/or Servicing Systems.
Working knowledge of mortgage/equity loan processing, closing, and documentation requirements and regulations.
Familiarity with mortgage lending requirements, regulations, and procedures for VA and conventional loan programs.

Responsibilities

Take first mortgage loan applications through face-to-face interviews, mail, and telephone.
Interview and counsel members about mortgage products, financing options, and the mortgage loan process.
Review applications for completeness and accuracy and identify additional information or supporting documentation needed.
Help members understand loan requirements, conditions, and documentation needed for their applications.
Request and obtain required documentation and forward it to the Mortgage Processor.
Maintain contact with members throughout the mortgage process and provide application and processing status updates.
Coordinate with Mortgage Processors and other appropriate parties to support timely application processing.
Respond to routine inquiries about applications, documentation requirements, processing status, and next steps.
Identify routine application or processing issues and seek guidance or escalate more complex issues as appropriate.
Monitor assigned applications to support timely completion of required activities and documentation.
Follow established procedures to help ensure mortgage loan activities comply with applicable federal laws and Navy Federal, NCUA, and secondary market requirements.
Build and maintain effective relationships with members, Realtors, builders, and other referral sources.
Participate in approved marketing and promotional activities, including financial presentations and local Realtor or community events.
Perform other duties as assigned.