Mortgage Loan Officer

Self-Help•Chicago, IL

2d•$56,770 - $79,584

About The Position

We are seeking a Mortgage Loan Officer to join our Chatham, IL team! Mortgage Loan Officers provide information on credit union products and services to potential borrowers according to all credit union policies and procedures as well as Federal and State rules and regulations. Interviews all applicants for real estate loans. Prepares, analyzes, processes and documents all required forms and related documents for real-estate loans. Approves or denies loan applications based on analysis of each applicant's background. Responsible for promoting credit union products and services to ensure meeting productivity goals.

Requirements

High School Diploma.
2 years’ of experience in mortgage, banking or other relevant experience.
Experience in consumer lending preferred.
Ability to represent Self-Help in networking functions and to develop and maintain key realtor and other relations that generate attractive loan/borrower referrals.
Strong analytical and quantitative skills and ability to independently handle loan applications and assess borrower ability to successful repay loans.
Ability to consistently follow guidelines for file quality.
Ability to consistently meet productivity goals.
Ability to secure and maintain NMLS certification.
Ability to work collaboratively on team
Sensitivity to issues of low-wealth borrowers and a desire to work in a racially and socially diverse organization
Strong organization, computer and customer service skills
Strong communications skills including strong writing skills and presentation skills.
Ability to travel and work evenings and weekends as needed
Strong commitment to our mission – creating economic opportunity for traditionally underserved communities.
Preference for working in organizations that place priority on teamwork and collaboration.
Ability to demonstrate Self-Help's Core Values: Mission Before Self Service With Excellence Embracing & Promoting Change Results Not Credit Diversity as a Strength Financial Sustainability for Mission Impact

Nice To Haves

Bachelor's degree preferred.
Bilingual Spanish/English a plus.
Proficiency with Word, Excel and PowerPoint

Responsibilities

LOAN MANAGEMENT/BORROWER ADVISEMENT Meet with loan applicants to discuss viable mortgage options, counsel on credit and budget, develop roadmap and process for mortgage approval and assist with the loan application process.
Achieve productivity goal as set forth by manager.
Prequalify loan applicants by examining all borrower information and documentation, assessing creditworthiness, adequacy of income, credit and collateral and calculating repayment risk.
Determines the maximum purchase price/loan amount based on borrower data.
Approve or deny real-estate loan applications that do not meet pre-qualification standards and explain reasons for denial.
Gather and review necessary data to complete the loan review process including credit bureau reports; verifying debts and estimating monthly payments for any outstanding debts not listed on application and ensuring they are added to application.
Comply with all federal and state mortgage regulations and disclosure requirements.
Prepare mortgage loan application and documentation for underwriting and closing.
Ensure that each real-estate loan is processed accurately, troubleshoot any issues that may arise during the processing period, and maintain communication with borrower throughout processing period, as needed.
BUSINESS DEVELOPMENT Develop mortgage loan business through continual identification, development and maintenance of a quality network of business relationships that serves as a recurring source of referrals for new mortgage lending opportunities.
This network may consist of Real Estate professionals, builders, and professional contacts, as well as other valuable referral sources enhanced by regular participation in business related development opportunities, community efforts to promote homeownership and professional organizations.