This position carries a base salary plus commission. We would consider annual total compensation projections in excess of $90,000 to be reasonable.
The expectations for this position, which we call a Branch Community Mortgage Loan Officer, are as follows:
Reporting to the Assistant Vice President of Mortgage Sales, performs a variety of responsibilities relating to the sales and origination of real estate lending products in accordance with regulatory requirements and established policies and procedures. This position will be based in a community-focused branch with leads developed through community network and branch referrals, and is expected to maximize the exposure of HFCU Real Estate Lending within the branch and in the surrounding community.
- Develops, maintains and solicits residential first mortgage and HELOC loan business thru effective relationships with real estate agents, community organizations (such as local Chamber of Commerce and Board of Realtors) and other referral sources (such as financial planners, attorneys, builders) to promote awareness of HFCU’s products and services. Represent the credit union in a professional manner and provide quality service to current and potential members.
- Guides new and existing members, including first-time homebuyers, through the application process. Conducts person to person interviews with members who request an appointment for a mortgage loan or HELOC, and completes the application for the member during the interview. Counsels applicants on credit, affordability and conducts pre-qualification analysis. Explains rate, terms, payment amounts and closing costs to the member. On a timely basis, responds to member e-mail and telephone inquiries requesting information on products, services, and problem resolution.
- Develop and present real estate financing related seminars and workshops at branch and other locations. Follow up with interested parties for pre-qualification, general mortgage counselling and score enhancement when appropriate.
- Actively manage the loan pipeline and provide consistent and timely follow up to members to ensure minimum turnaround time and enhance the members’ experience. Provide activity reports to the AVP of Mortgage Sales as requested or required..
- Complete all necessary loan data in MortgageBot POS & LOS as required, meet all compliance deadlines and requirements and work with Processors and Underwriters to achieve a timely and efficient approval and closing process.
- Cross-sell all HFCU products and services where possible.
- Keep informed of trends and developments in the real estate loan market and make recommendations to improve products, services, policies and procedures.
- Perform such other duties and functions as requested or required from time to time
Must have five to eight years of verifiable, successful expertise in Real Estate Loan origination (or applicable sales related experience) with a working knowledge of all state and federal (Fannie Mae and VA guidelines) mortgage regulations.
A two-year college degree or completion of a specialized course of study at a business or trade school equivalent to approximately 64 credit hours.
Must become registered as a Hanscom Federal Credit Union Mortgage Loan Originator (MLO) with the National Mortgage Licensing System (NMLS).
Strong written and oral communication skills with the ability to effectively communicate information over the telephone and in person. Exemplary public speaking skills similarly required.
Willingness to work hours outside of the typical American “9am to 5pm” week, including weekends, as responsibilities require.