Northern Home Loan Officer II

Red Canoe Credit Union•Federal Way, WA

7d•$26 - $38•Hybrid

About The Position

The Home Loan Officer plays a crucial role in the early stages of the mortgage loan application process by gathering and validating essential data. This position requires the expertise to ask borrowers for additional information when necessary. The Loan Officer must have a deep understanding of all product offerings within the home loan department, including conforming mortgages, home equity loans, land loans, and manufactured home loans, and be able to recommend the best options to meet the borrower's needs. The Loan Officer conducts interviews with members in person, by phone, or online, to determine the most suitable product and pricing. They are authorized to review, prepare, and submit loan applications for approval or denial by the designated underwriter. Additionally, the officer ensures compliance with credit union policies and investor guidelines by reviewing rates, fees, and loan guidelines for each application. The Home Loan Officer also aids members regarding Red Canoe Credit Union’s services and policies, focusing on loans and financial counseling. They are committed to delivering excellent service, responding to all member communications within 24 hours in line with the department's service standards.

Requirements

Must be bondable to meet regulatory and company standards.
Ability to manage urgent and complex situations, providing constructive solutions while maintaining positive relationships with members, colleagues, vendors and referral partners.
Must be registered with the Nationwide Mortgage Licensing System & Registry (NMLS) as a requirement for obtaining and maintaining the position of Mortgage Loan Originator (MLO).
Possess the drive and competitiveness to consistently meet or exceed individual monthly production targets.
Must maintain a professional appearance and demeanor, demonstrating punctuality, dependability, and self-motivation.
Strong human relations skills to effectively address and resolve member-related matters.
Proficient in personal computer use, including Microsoft Office Suite (Word, Excel, Outlook, etc.).
Excellent written and verbal communication skills, with the ability to clearly and effectively convey information.
Ability to make informed decisions, manage the complexities of the role, and stay organized in a fast-paced environment.
Minimum of 2 years’ Mortgage Loan Officer experience required.
Proven competencies in originating and submitting FHA and VA loans.
Documented ability to perform accurate income analysis of wage, commission, bonus, and overtime income.
Be knowledgeable and compliant with Reg Z, CFPB’s Reg X, HMDA, Fair Housing Act, Flood Disaster Protection Act, Homeowner’s Protection Act of 1998, ECOA and Reg B, and the SAFE Act.
Proficient in determining member loan requests and matching them with the mortgage products that best meet the member’s needs.
Thorough knowledge of all mortgage products and services, including forms and required documentation for each type of loan or equivalent experience.
Possess an intermediate understanding of mortgage loan systems including mortgage underwriting, processing, quality control, funding, and Red Canoe’s mortgage lending website.
Maintain current knowledge of all federal and state regulations governing credit union mortgage lending.
High school diploma or equivalent.
Ability to read English by sight; and both speak and write English.
Ability to hear by telephone and in person.

Nice To Haves

The employee is regularly required to talk or listen.
The employee frequently is required to use hands or finger, handle, or feel objects, tools, or controls.
The employee is occasionally required to stand, walk, sit, reach with hands and arms, climb or balance, and stoop, kneel, crouch, or crawl.
Approximately 20% standing, 70% sitting, 10% walking, as need demands.
Possess sufficient manual dexterity to skillfully operate standard office equipment including a computer or typewriter keyboard, 10-key calculator, facsimile machine, photocopier, and telephone.
Other demands include talking, handling & reaching, seeing (corrected vision) and hearing in normal range.
Specific vision abilities required by this position include close vision, distance vision, color vision, peripheral vision, and the ability to adjust focus.
A telephone device to enhance hearing will be provided if needed.
Occasional light lifting.
The employee must occasionally lift and/or move up to 30 pounds.
Periodic inter-branch or interdepartmental access may be required, including for distribution and access to various materials, equipment, meetings, etc.
Storage and retrieval of materials, maximum reach required is 84 inches.
Mental effort required involving considerable organization, planning and analytical efforts with superior communication.
General demands include alertness, memory, observation, empathy, ingenuity, learning ability, problem solving, patience, initiative, memory, objectivity, creativity, speaking ability, reading, and writing ability, judgment, persuasiveness, concentration, flexibility, precision, and auditory discrimination.
Minimal discomfort from heat, dust, air conditioning.
The noise level is usually moderate, including external road noise.
Transport within remote branch and/or main office/facility may be single or multilevel (as required) including a variety of stairways, elevators, etc.
Exposure to computers and other electronic equipment.
Lunch/break area exposed to microwave; and is in the basement at main office.
The facility is 100% free of tobacco smoke.

Responsibilities

Ensure timely preparation and delivery of all initial disclosures for conventional and portfolio loans in accordance with RESPA guidelines.
Verify that all loans comply with RESPA and Fair Lending regulations by accurately disclosing all fees on the Loan Estimate and Closing Disclosure.
Conduct interviews with members to assess their home loan needs and recommend the best product and pricing options.
Provide guidance on improving their credit profiles and financial situations.
Assist members with completing online applications, either in person or over the phone, for all conventional or portfolio loans.
Prepare and submit loan packages to Underwriting within 5 days by gathering income, asset, and liability documentation, reviewing credit reports, and calculating debt-to-income ratios.
Ensure full compliance with Fannie Mae DU findings, investor guidelines, and RCCU policies to meet all preliminary conditions.
Include additional conditions identified during the interview process that DU cannot determine from the provided information.
Review initial loan documentation and provide guidance to members on any additional paperwork needed to process their loans.
Actively cross-sell RCCU’s retail products and services, such as checking and savings accounts, CDs, auto loans, Visa credit cards, secured and unsecured lines of credit, and online banking.
Provide public notary services when applicable.
Cultivate, develop and retain referral partners such as Realtors, Loan Officers from other lending institutions, Insurance Providers, Financial Advisors and Title Agents and Escrow officers.
Continuously expand knowledge of industry trends, new loan products, relevant regulations and rate trends.
Attend training and development sessions to improve skills and provide better service to members.
Actively promote home loan products to prospective and existing members through networking, referrals, and local outreach.
Participate in community events and industry meetings to build awareness of credit union mortgage services.
Collaborate with the credit union’s marketing team to develop targeted campaigns and promote loan products.
Develop and consistently maintain an organized tracking system for all assigned loan files.
Ensure that files are complete by identifying and retrieving any missing information.
Ensure all validated loan information is accurately entered into the Encompass URLA form, meeting regulatory and investor requirements to disclose complete loan applications within three days of receipt.
Support the department in meeting production goals by completing additional tasks as assigned by the Home Loan Sales Manager.
Perform duties efficiently in a fast-paced environment, effectively managing and prioritizing multiple tasks to meet deadlines.
Respond promptly and accurately to home lending inquiries, providing members with information on department services, credit union policies, and procedures.
Foster a cooperative and positive team environment to enhance staff relations and improve departmental efficiency.
Mentor and foster LO 1’s to help grow and strengthen team.
Conduct interviews with borrowers, record loan requests, analyze the information, and recommend appropriate actions to the Underwriter.
Stay informed about home loan products, loan officer guidelines and credit union policies approved by the Board of Directors to ensure accurate and compliant loan processing.
Gather all required collateral information to assist the Underwriter in making informed decisions.
Be knowledgeable about real estate closing procedures, escrow processes, and applicable regulatory requirements to ensure compliance throughout the loan process.
Ensure the Loan Officer’s Policy/Procedures/Workflows are complete and accurate before completing their milestone and submitting the loan for processing.
Review each application thoroughly to ensure all potential loan options have been considered and discussed with the borrower.
Provide assistance to other loan officers and departments as needed to ensure smooth operations and timely loan processing.
Analyze loan requests to identify opportunities for cross-selling other RCCU products and services that may benefit the member.
Perform other duties as assigned by the manager to support the overall goals of the department.
Support, assist, or manage tasks across more than one location or branch of a company. This may involve traveling between locations or providing remote support.