Mortgage Loan Officer

Are you looking for an exciting new opportunity? Here at UMCU we are passionate about our team members’ growth, success and contribution to our amazing company culture. Consider joining the University of Michigan Credit Union (UMCU) a pillar of the local community for 70 years.The Mortgage Loan Officer is responsible for originating first mortgage loan applications for the Credit Union. Works with the member to ascertain which mortgage product is best suited to meet the member’s needs and objectives. Where applicable, processes a Home Equity application for the member in conjunction with the mortgage app, with the member’s consent.Assures mortgage loan applications are originated within the parameters and guidelines of the Credit Union. Also responsible for training other staff in first mortgage origination to ensure quality in the mortgage portfolio.Why join the UMCU Team?Work with a high energy and collaborative group of supportive professionals.We are committed to helping you own your career and grow professionally and personally.Comprehensive benefits including low cost/high coverage medical, dental, vision, leave of absence and more!Very generous paid time off and a very flexible work environment to help you find just the right work-life balance.Tuition reimbursement and a student loan debt repayment programOur Fidelity 401k program with employer match is one of the most generous you'll find.From our parental leave, to pet insurance and home office credits, our benefits package is one of the best you'll find!What you'll be doing in this role:Meets with applicants interested in purchasing or refinancing a home and conducts effective interviews, needs analysis, and answers any questions they may have on the lending process. These meetings will occur based on the members preferred method; in person, Webex or phone.Educates and advises the applicant on the home buying process and conforming and alternative loan program options available. Discusses financing options and loan pricingInforms the applicant of applicable fees and closing costs including the appraisal, credit report, title insurance, notary fees, etc., and provides current information regarding rates and terms. Cross-recommends additional credit union products where appropriateMaintains pipeline of Mortgage pre-approvals and follows up with members in a timely mannerDocuments the applicant’s income, debt and credit history and assists the member through the loan application process. Requests the appropriate documentation to support the loan request such as the purchase agreement, property description, assets (i.e. bank accounts, investments), proof of income, etc., and submits to processors for verificationFor members and loans that qualify with appropriate DTI and LTV ratios; process Home Equity application alongside the mortgage app if member consentsAnalyze approved loan applications for eligibility to sell to FHLBIParticipates in networking opportunities with local real estate brokers and builders to inform them of the Credit Union’s products and services. Builds rapport and solicits new mortgage business from existing or new business partners such as developers and real estate agents.Assists with the review and updating of internal policies and procedures relating to mortgage and, as needed.Maintains knowledge of the Credit Union Act, credit legislation, legal implications of lending decisions, lending practices, and Credit Union operationsMaintains knowledge of FNMA and FHLMC guidelinesAssists in providing adequate staff training for existing and new staff designated to process mortgage loan requests. Provides periodic in-service training of all staffWorks comfortably with established routines and procedures and anticipates problems in areas of specializationResponsible for security of Credit Union propertyAssists Real Estate Lending Manager as necessaryVolunteers in various activities sponsored by UMCU within the University of Michigan and Ann Arbor communitiesMaintains knowledge of and follows all credit union policies and procedures regarding BSA, OFAC, U.S. Patriot Act, Anti-Money Laundering, S.A.F.E Act, CFPB regulations and Customer Identification ProgramOther duties as assignedWhat you'll need in this role:Bachelor's degree; or equivalent combination of education and experienceAbility to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulationsAbility to write reports, business correspondence, and procedure manualsAbility to effectively present information and respond to questions from managers, clients, customers, and the general publicAbility to perform basic math functions and compute rate, ratio, and percent and to draw and interpret bar graphsAbility to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization existsAbility to interpret a variety of instructions furnished in written, oral, diagram, or schedule formPhysical Demands/Work Environment The environment is typical of an office atmosphere. The noise level in the environment is usually moderateWhile performing the duties of this job, the employee is frequently required to stand; walk; sit; use hands to finger, handle, or feel; reach with hands and arms; stoop, kneel crouch, or crawl; and talk or hear. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and ability to adjust focus.