Mortgage Loan Specialist

Hermantown Federal Credit Union; Hermantown (MN); On-site; USD 60,000 - 90,000; Full time

Job summary

Hermantown Federal Credit Union is seeking a Mortgage Loan Officer to originate mortgage purchases and refinances, including land, construction, and home equity loans. You will interview applicants, verify information, and build relationships with realtors and title companies to maintain a strong loan pipeline.

The role emphasizes adherence to mortgage regulations, accurate documentation, and timely communication to close loans efficiently.

Qualifications

• Knowledge of mortgage lending regulations and compliance requirements.
• Experience in interviewing applicants and collecting supporting documentation for loan applications.
• Ability to explain loan products and terms clearly to members.
• Strong attention to detail to ensure loan packages are complete and accurate.

Responsibilities

• Execute mortgage purchases and refinances and open/close end home equity loans.
• Interview applicants and gather needed information for underwriting.
• Pull credit reports and verify employment and income.
• Review supporting documents for accuracy and completeness before underwriting.
• Coordinate with realtors, title companies, and builders to facilitate closings.
• Schedule loan closings and ensure loan documents are complete and accurate.
• Maintain HMDA data integrity and regulatory compliance.
• Engage with members to clarify statuses and next steps.
• Collaborate with Servion and third-party servicers for timely processing.

Skills

Mortgage lending knowledge

Interviewing and needs assessment

Customer service excellence

Regulatory compliance

Detail oriented

Effective communication

Team collaboration

Analytical thinking

Education

High school diploma or equivalent

Tools

Calyx

Microsoft Office

NMLS

Job description

POSITION PURPOSEOrigination of mortgage loan purchases and refinances in addition to land, home equity and construction loans. Conducts loan interviews to determine member eligibility and preapprovals. Develops relationships with existing and prospective members, builders, realtors & title companies to ensure an excellent member experience and establish a pipeline for future business.Extensive administrative and organizational skills are required to safeguard that loan packages are complete and loan documents are accurate. Effective communication is paramount for the timely exchange of information and to ensure supporting documentation is received so a mortgage can close within a suitable timeline. Mortgage loan officers are expected to operate with moderate supervision and are evaluated on their ability to meet production expectations with accuracy, timeliness, and results. This position works closely with a third-party mortgage servicer to receive oversight and direction to ensure deadlines are met and exceptions are cleared ensuring loans are cleared to close.PROVIDES THE “EXPERIENCE”Initiative – A motivated self-starter who thrives in a goal-setting environment. Actively and consistently seeks opportunities to add value to the Credit Union. Consistently meets or exceeds goals. Actively seeks learning opportunities and seeks additional responsibility on their own.Accountability – Demonstrates responsibility for providing timely and accurate information, responses and decisions to internal and external members. Performs tasks/projects assigned with efficiency. Willingly accepts constructive coaching and feedback as needed. Schedules time off in advance and avoids unscheduled absences. Tell the truth.Accuracy – Due the nature of the position, attention to detail and verifying accuracy of daily processes is paramount. A lack of this ability exposes the Credit Union to reputation risk and financial loss, among other consequences.Member Services – provides exceptional member service and ensures the “Experience” is being provided with each encounter. Views situations from the member/employee perspective to effectively respond to their needs and concerns. Follows up in a timely manner to ensure the member/employee expectations have been met or exceeded. Explains recommendations, products and services in ways the member/employee can easily understand. Demonstrates patience, respect and empathy when dealing with difficult members/employees or their complaints.Effective Communication – Persuasive, honest, and confident. Uses clear and simple language to communicate information and decisions to internal and external members. Demonstrates correct grammatical proficiency in all written communications. Explains recommendations, products and services in ways that are easy for our members/employees to understand. Answers questions in such a manner that will clarify the situation, educate the recipient, and avoid misconception. Demonstrates sensitivity to cultural and gender differences.Teamwork – Builds rapport with fellow teammates and other Credit Union team members. Demonstrates genuine concern for others and shares personal expertise with peers. Fosters a spirit of cooperation to ensure the success of the team. Maintains personal integrity in all aspects of day-to-day activities. Displays flexibility regarding scheduling. Collaborate to share ideas and bring together departments and people to accomplish common strategic goals. Be ready to transfer knowledge to others to build genuine relationships and to build a company of knowledgeable individuals.POSITION RESPONSIBILITIES1) Execute mortgage purchases, mortgage refinances, open and closed end home equity loans, land loans, construction loans, home improvement loans & mobile home loans.2) Knowledgeable about consumer loan products and able to refer those opportunities to consumer lending.3) Understands real estate lending practices including pertinent mortgage regulations governed by state and federal regulators to ensure all loans are granted fairly and in compliance with said regulations.4) Interview applicant and request information and documentation to support the loan application.5) Pulls credit reports, verification of employment and background information pertinent to applicant’s evaluation. Provides pre-approvals based on information provided.6) Requests & reviews supporting loan documentation for:a. Credit bureau inconsistenciesb. Verification of continuous and adequate employment through pay stubs and taxesc. Debt Ratio calculation accuracy by reviewing assets & liabilities are properly reportingd. Appraisals to ensure value is sufficient. Ability to recognize potential property issues that may complicate the loan closing or require fixing prior to loan closing. Recognizing & facilitating additional required inspections. From time to time, appraisal disputes become necessary. Ability to look for “like” comparables and present dispute information respectfully in a report format may be necessary.e. Flood certificationsf. Loan conditions ensuring all are cleared before closing7) Correspond with applicants regarding financial status, credit, interest rate, property evaluation and eligibility to execute the loan.8) Compile loan package and documents and provide member with information regarding credit and resulting loan fees, repayment terms and interest rate.9) Submits to underwriting and ensures all conditions are cleared before submitting for final approval.10) Schedules loan closing and provides loan documents prior to closing as required. Ensures loan documents are complete and accurate.11) Networking and relationship building with realtors, title companies, builders, manufactured housing & construction companies.Mortgage LO-I Additional Responsibilities as Assigned:1. HMDA reporting including ensuring coding is correct and HMDA information is entered correctly. Verifying files are HMDA compliant. Enrolling in additional training to ensure CU is compliant and staff has adequate understanding of HMDA practices.2. Ensuring software upgrades and changes within Point are completed by staff and working with Calyx to ensure corrections and updates are made. This includes communicating with Calyx technical support and our account manager to elevate issues not addressed in a timely manner.3. Continued support reviewing our home equity and mortgage documents and recommending changes as needed to ensure we are compliant.4. As needed, research and development for potential new products or services that would enhance the mortgage department. Additionally, researching issues the team experiences and working to troubleshoot.5. Approval of GAMC appraisals.6. Review of correspondent purchases & approval of Servion invoices.7. Continued work with Servion to enhance our experience and troubleshoot issues as they arise. Awareness of mortgage profitability and suggestions on how to enhance how we execute mortgages and utilize their products and services.8. Implementation & training on new products and services as they arise. Coordinates with other departments if implementation crosses over into other areas of the CU.9. Annual LEI renewal for HMDA filing10. Review & update procedures as necessary. Makes recommendations for policy changes.TRAINING/EDUCATION RESPONSIBILITESWill attend all required regulatory training sessions conducted internally or externally, to include but not limited to:• BSA/OFAC• Robbery Training• NMLS/Safe Act training• Trace Risk and IT Security Training• HMDA Training• Mortgage compliance and regulatory training• Any additional training for regulatory compliance as necessary for the position. Continued education for professional development may/will be assigned.TRAVEL REQUIREMENTS AND WORK SCHEDULESThis position requires a valid state driver’s license. Travel to other branches and all regions will be required and expected on a regular basis.Must be able to work a flexible schedule to include occasional weekends and after hours as necessary.PERFORMANCE MEASUREMENTS• Work is completed accurately and timely.• Personal and department goals are consistently met or exceeded.• Good working relationships exist with Credit Union personnel and management.• Management is appropriately informed of area activities.• Workflows and assignments are completed in accordance with established standards, policies, and procedures.• Excellent communication skills used with members and staff members.• Ensure responses to member or staff member questions are timely.• Attendance at professional growth training.QUALIFICATIONSEducation/Certification:High school graduate or equivalentRequired Knowledge:Knowledge of Mortgage compliance and regulationsFinancial institution lending compliance and regulationsWorking knowledge and skills of Microsoft Suite ProductsExperience Required:Additional schooling in business or related field preferred.At least two years prior experience preferred but willing to consider candidates with prior financial institution and lending experience.Skills/Abilities:Excellent interpersonal skillsExcellent written and oral communication skillsCooperative and willing to assist othersAnalytical and critical thinking skillsWell organized with attention to detailProfessional appearance, dress, and attitudeAbility to use existing technology to increase accuracy and efficienciesAbility to learn new technologyAbility to change teaching techniques based on learnerExcellent decision-making skillsPHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITIONTalking: Clear, concise speech is necessary. Must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.Average Hearing: Able to hear average or normal conversations and receive ordinary information.Repetitive Motion: Movements frequently and regularly required using the wrists, hands, and/or fingers.Average Visual Abilities: Average, ordinary, visual acuity necessary to prepare or inspect documents or products or operate machinery.Physical Strength: Sedentary work and standing for long periods of time. Exerts up to 10 lbs. of force occasionally. (Almost all office jobs.) Must be able to exert up to 25 lbs. of forceWORKING CONDITIONSNone: No hazardous or significantly unpleasant conditions (such as in a typical office)INTENT AND FUNCTION OF JOB DESCRIPTIONSJob descriptions assist organizations in ensuring that the hiring process is fairly administered and that qualified employees are selected. They are also essential to an effective appraisal system and related promotion, transfer, layoff, and termination decisions. Well-constructed job descriptions are an integral part of any effective compensation system.All descriptions have been reviewed to ensure that only essential functions and basic duties have been included. Peripheral tasks, only incidentally related to each position, have been excluded. Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions. In no instance, however, should the duties, responsibilities, and requirements delineated be interpreted as all-inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate.In accordance with the American with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.Job descriptions are not intended as and do not create employment contracts. The organization maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.