Mortgage Loan Officer I

Southwestheritagecu; Odessa (TX); On-site; USD 65,000 - 90,000; Full time

Job summary

Southwest Heritage Credit Union is seeking a Mortgage Loan Officer to provide information on mortgage products, interview applicants for real estate loans, and process all required documentation. The role involves approving or denying applications based on borrower background and managing the first- and second-mortgage portfolios.

Successful candidates will have strong knowledge of residential mortgage lending, familiarity with TRID and disclosure requirements, and experience with mortgage

Qualifications

• Strong understanding of residential mortgage lending.
• Knowledge of FNMA, FHLMC, FHA, VA, USDA, or portfolio mortgage guidelines.
• Knowledge of TRID and mortgage disclosure requirements.
• Excellent written and verbal communication skills.
• Proficiency with mortgage origination software and Microsoft Office.

Responsibilities

• Interview applicants for real estate loans and process required forms.
• Approve or deny loan applications based on assessment.
• Establish and monitor control procedures for first-mortgage portfolio.
• Prepare mortgage loan applications and documentation for closing.
• Maintain escrow accounts for taxes and insurance on loans.
• Develop marketing plans for mortgage products and grow relationships.

Skills

Residential mortgage lending

Mortgage guidelines (FNMA/FHLMC/FHA/VA

Tools

Mortgage origination software

Microsoft Office

Job description

Provide information on credit union products and services to members according to all credit union policies and procedures and State and Federal rules and regulations. Interview applicants for real estate loans. Prepare, assess, process, and document all required forms and related documentation for real-estate loans. Approve or deny loan applications based on assessment of each applicant's background. Operate under moderate credit authority. Promote credit union products and services.

Essential Duties and Responsibilities:

• Develop mortgage loan business through member seminars and calls to realtors, contractors, and other institutions.
• Establish and monitor control procedures for first-mortgage loan portfolio.
• Interview loan applicants and assist members with the loan application process.
• Obtain and evaluate credit bureau reports on applicants.
• Pull credit reports for all accounts, verify debts, and estimate monthly payments for any outstanding debts not listed and add them to debts on application.
• Approve or deny real-estate loan applications, and explain reasons for denial.
• Ensure that each real-estate loan is processed accurately.
• Prepare mortgage loan application and document packet for closing.
• Pay title company fees for title searches, legal work, and appraisals.
• Pay real-estate taxes, including calculating tax shortages and new monthly payments.
• Maintain accurate records of insurance and taxes on real-estate loans.
• Maintain escrow accounts for the payment of members' taxes and insurance premiums.
• Manage second-mortgage portfolio and develop marketing plans for these products.
• Monitor delinquent real-estate loans, and take action as necessary.
• File necessary papers with the state land title for second mortgages.
• Perform other duties as assigned.

Knowledge, Skills & Abilities:

• Strong understanding of residential mortgage lending.
• Knowledge of FNMA, FHLMC, FHA, VA, USDA, or portfolio mortgage guidelines.
• Knowledge of TRID and mortgage disclosure requirements.
• Understanding of title policies, appraisals, closing documents, and settlement procedures.
• Strong analytical and problem solving skills.
• Ability to manage multiple loans simultaneously.
• Excellent written and verbal communication skills.
• Proficiency with mortgage origination software and Microsoft Office products.
• Detail oriented with strong organizational skills.
• Great member service that includes growing relationships, referrals, and constant member communication.

Southwest Heritage Credit Union is an Equal Opportunity Employer and offers a drug free work environment. Satisfactory Background check and drug testing a condition of employment.