Real Estate Loan Officer

WECU • Bellingham, WA

3d

About The Position

WECU is seeking a Real Estate Loan Officer to serve borrowers in Washington state and provide a quality member experience through efficient, knowledgeable, and timely residential mortgage origination. The role requires expertise in available real estate loan programs, proactive solicitation of residential mortgage business, and development of business relationships to meet production goals. The Loan Officer must comply with applicable laws, regulations, and organizational guidelines.

The position includes incentive-based earnings tied to funded loan volume, starting at 75 basis points, with a guaranteed monthly draw and an organizational bonus. WECU also offers a comprehensive benefits package.

Requirements

• High school diploma or GED.
• Two years of experience in a related field with equal responsibilities; formal training should be supplemented with continuing education.
• Working knowledge of credit union products and services.
• Working knowledge of organizational policies and procedures and the credit union’s service philosophy.
• Working knowledge of safety and security procedures for false alarms, robberies, bomb threats, and extortion.
• Working knowledge of the credit union’s in-house computer system and real estate loan processing system.
• Knowledge of state and federal lending regulations.
• Ability to exercise judgment, initiative, and tact when dealing with members, management, and staff.
• Ability to represent the credit union positively and professionally in person, by telephone, and in written correspondence.
• Knowledge of processing and packaging secondary market loans.

Responsibilities

• Promote the credit union through outside sales calls to brokers and realtors.
• Meet with borrowers interested in or applying for real estate loans; gather information and documentation, make recommendations, and process applications as appropriate.
• Communicate clearly and promptly with borrowers about application progress, next steps, approvals, denials, and education for future applications.
• Attend loan closings where possible.
• Prepare and issue initial disclosures in accordance with current regulations.
• Monitor loans in process, ensure required documentation is obtained, and maintain an updated pipeline.
• Ensure confidentiality and security of loans being processed.
• Issue pre-qualification letters according to WECU guidelines.
• Provide members with information about loan rates and terms, application processing, credit reporting, loan funding, and ongoing servicing.
• Attend field and community functions to represent and support WECU.
• Stay current on real estate law and secondary market guidelines through appropriate resources and research.
• Cross-sell WECU products and services that complement members’ financial needs.
• Stay informed about WECU business plans, operations, policy and procedure changes, history, and philosophy.
• Follow BSA, AML, CIP, and CDD policies and procedures to ensure regulatory compliance.
• Follow OFAC procedures by running entities and non-member check payee names through the Bridger system.
• Monitor and report suspicious activity to the Compliance department under SAR procedures and notify the immediate supervisor of substantive CIP discrepancies, including fraudulent identification or applications.
• Complete mandatory annual BSA/AML training through an online course.
• Maintain registration with the Nationwide Mortgage Licensing System & Registration (NMLS).
• Perform duties assigned by management and assist others with tasks and work assignments.
• Provide accurate loan payoff or verification information to members, other financial institutions, and escrow companies.
• Process and order supporting documentation for loan transactions, such as appraisals, verifications of employment, credit reports, and title commitments.
• Review subordination and partial reconveyance requests for approval and processing.
• Follow WECU policies and applicable laws and regulations.

Benefits

• Medical, dental, and vision benefits with employee coverage premiums paid in full
• 401(k) retirement plan with an 8% annual contribution from WECU
• Bonus plan
• Two or more weeks of vacation
• Up to 11 paid holidays
• Paid life and disability insurance
• Annual wellness benefits
• Loan discounts
• Professional development

What This Job Offers

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