Real Estate Loan Originator

Job Description

SUMMARY

Under the direction of the AVP Real Estate Experience, the Real Estate Loan Originator is responsible for performing a wide variety of member loan duties in the Real Estate Department.

• Receives and originates real estate loan applications.
• Reviews and verifies information, obtains credit reports and verifies credit references.
• Computes interest and payments.
• Communicates daily with front line employees regarding status on applications.
• Communicates regularly with Real Estate Agents and Title and Escrow Officers to obtain fees necessary to produce initial disclosures.
• Prepares initial disclosures.
• Assigns loans to the appropriate employees within the Real Estate Department.
• Receives incoming supporting application documentation; uploads documentation to the file cabinet.
• Issues documentation within the required time frames to adhere to regulatory waiting periods.
• Assists members in identifying real estate loan products which best meet their needs while maintaining real estate lending standards.
• Takes mortgage applications over the phone.
• Follows up with members regarding initial disclosure packages and notices of incompleteness.
• Responds to members’ inquiries and requests; assists in completing forms and documents.
• Submits loans to Automated Underwriting System (AUS) and has knowledge of how to read AUS results.
• Maintains updated system comments within the loan application.
• Explains reasons for adverse action and explore options for members when loans are declined.
• Helps and provides guidance to mortgage originators.
• May serve as a department floater depending on pipeline volume to assist in other areas of the Real Estate Department as needed.
• Performs duties in compliance with Credit Union policy and appropriate regulatory statutes.
• Maintains current job knowledge of Credit Union policies, procedures, and services. Uses cross-selling techniques to promote other Credit Union services.
• Regularly attends and participates in in-house training.
• Performs duties as assigned by management and may be assigned to work at any location.

The qualifications listed below are representative of the knowledge, skill and/or ability required to perform the essential functions of this position.

Education and Experience

• Two or more years increasingly responsible experience in real estate loan processing in real estate or financial institution.

Certificates, Licenses and Registrations:
Required to be registered with NMLS and renew registration each year.

Knowledge

• Credit Union products, services, programs and promotions.
• Credit Union real estate policies, procedures and practices.
• Knowledge of various computer systems and software necessary to effectively perform job.

Other

Skills and Abilities

• Performs duties accurately and efficiently, even with frequent interruptions.
• Operates variety of office equipment and machines.
• Travels, attends, and participates in meetings, seminars, and conferences held before and after normal business hours that may require unaccompanied long-distance travel and overnight lodging.
• Ability to work a variety of hours, including evenings and weekends.