Summary: Individuals in the job are responsible for assisting Tropical Financial Credit Union in the achievement of its purpose of guiding members successfully through the financial marketplace. This position is responsible for increasing the Credit Union mortgage-lending portfolio through direct sales by promoting mortgage loan products, conducting initial mortgage application interviews and for obtaining necessary information and documentation.
Essential Duties and Responsibilities include the following. Other duties may be assigned.
Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Adhere to the Service Standards of Excellence defined by Tropical Financial Credit Union.
- Meet the annual goals established in the Performance Management Cycle.
- Meet quality standards set forth in the performance plan.
- Meet pull through standards set forth in the performance plan.
- Meet repurchase standards set forth in the incentive agreement.
- Adhere to all other criteria in the Mortgage Loan Originators Incentive Plan
- In many instances, the Mortgage Loan Originator acts as a salesperson and acquires leads and information from branches or Mortgage Information Representative regarding members seeking mortgage related information. Contacts members and makes appointments for meetings. Travels to branches or designated areas to meet with members, at times may be extensive. Follow up with members requesting mortgage applications and information.
- Responsible for business development activities such as establishing and managing relationships with parties involved in the real estate/mortgage industry such as realtors, brokers, title companies, etc.
- Responsible for working with TFCU Community Relationship Officers and Branch Managers to participate in TFCU activities and events throughout the community, at CU SEG company functions and events to promote the credit union and its mortgage products.
- Working knowledge of secondary market requirements and guidelines with experience in completing files to meet the established standards.
- Working knowledge of regulatory requirements for RESPA, Reg Z, HVCC, HMDA etc.
- Attendance and membership in groups like the Chamber of Commerce and other networking opportunities in order to solicit and obtain mortgage applications
- Conduct interviews and gathers appropriate information and documentation regarding the member’s income, credit worthiness and guides the members through the process of applying for a loan.
- Make recommendation to members regarding which mortgage products may meet their particular circumstances
- Rely on use of laptop computers and cellular phone to maintain contact with members as well as with employer.
- Pre-qualify members and non members and completes preliminary underwriting based on documents and data obtained from borrowers. Issues all applicable disclosures and booklets within allotted timeframes.
- Input the loan application in the processing system and obtains all supporting information and documentation to complete the file to investor standards. Coordinates with mortgage staff as needed. Assists with follow-up as needed.
- Discuss any discrepancies with members and provides alternatives to borrowers if file does not meet secondary market standards. If secondary market standards are met, submits for processing. If guideline exceptions are required, prepares file for presentation to management for preliminary credit approval.
- Notify members of acceptance or denial of loan. Discusses the reasons for denial and makes suggestions for future requests.
- Stay abreast of new product lines so that they can better meet the needs of the members
- Log data in HMDA report and submits to processing or stores file in storage area.
- Answer departmental telephones and answers promotional inquire.
- Prepare weekly/monthly report detailing origination and solicitation activity.
- Adhere to timekeeping system requirements on a timely and accurate basis. Seek and obtain advance approval prior to incurring any overtime hours.
- Provide feedback for the development and implementation of new mortgage products.
- BSA Compliance: every employee is required to uphold the credit union’s compliance with the Bank Secrecy Act and anti-money laundering policies and procedures. Specific functions within TFCU will take into consideration the awareness of unusual or suspicious activity that is relevant to the department.
- In addition to any other assigned training courses, online BSA and OFAC courses must be completed at least annually, as made available by the Training and/or Compliance Departments.
- Ensure ongoing individual compliance with all regulatory requirements established in the SAFE Act.
Must have excellent written and verbal communication skills.
An individual in this position is required to interact regularly with all credit union employees and external parties such as realtors, business leaders, closing agents etc., therefore outstanding interpersonal skills are a must.
Ability to meet deadlines in an organized and timely fashion.
Ability to work independently, with minimal supervision at times.
Valid drivers license required and ability to work evenings and weekends.
Bilingual skills may be required for certain locations.
Ability to work under pressure and manage sudden changes in the workflow.
Ability to facilitate presentations to individuals and groups such as realtors, brokers, etc.
Must be able to prove previous work experience
Education and/or Experience
Three to five years mortgage origination or processing experience with a focus on sales. Working knowledge of Federal Home Loan Mortgage Corporation (FHLMC) and Federal National Mortgage Association (FNMA) guidelines. Knowledge of mortgage related software packages.
Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand, walk, sit and use hands to handle or touch. The employee is occasionally required to reach with hands and arms. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, and ability to focus. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.