Real Estate Loan Officer

Automatic Data Processing, Inc.; Bellingham (WA); On-site; USD 32,000 - 40,000; Full time

Benefits offered by this job

Medical benefits

Dental benefits

Vision benefits

401(k) plan

Vacation

Holidays

Life insurance

Disability insurance

Wellness benefits

Loan discounts

Professional development

Job summary

WECU is seeking a Real Estate Loan Officer to serve borrowers in Washington state, delivering a quality member experience through efficient mortgage origination and knowledgeable support. Demonstrate expertise in available loan programs while building relationships to reach production goals.

Compensation includes incentive-based earnings tied to funded loan volume (starting at 75 basis points) with a guaranteed monthly draw, plus an organizational bonus and a comprehensive benefits package.

Qualifications

• High school diploma or GED required.
• Two years of related experience acceptable.
• Knowledge of state and federal lending regulations.
• Ability to interact professionally with members and staff.
• Experience in real estate loan processing preferred.
• Knowledge of credit union products and services.

Responsibilities

• Promote the credit union to brokers and realtors to solicit real estate loans.
• Meet with borrowers; gather information; process applications and keep clients informed.
• Prepare disclosures in accordance with regulations; monitor loan pipeline.
• Maintain confidentiality and security of loan information.
• Cross-sell other WECU products and services as appropriate.

Skills

Real estate knowledge

Sales/prospecting

Regulatory compliance

Customer communication

Loan processing

Industry knowledge

Education

High school diploma or GED

Tools

In-house loan processing system

Job description

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Bellingham, WA, US

Salary Range: $36,000.00 To $36,000.00 Annually

WECU is seeking a Real Estate Loan Officer to serve borrowers in Washington state to deliver a quality member experience through efficient, knowledgeable and timely residential mortgage origination. Demonstrate expertise in all available real estate loan programs and proactively solicit new residential mortgage business. Develop and maintain a quality network of business relationships to achieve production goals. Operate in compliance with laws and regulations and adhere to guidelines.

In this role you'll deliver superior member experience through efficient, knowledgeable, and timely residential mortgage orientation.

Compensation for this role consists of incentive-based earnings tied to funded loan volume, starting at 75 basis points, with a guaranteed monthly draw, an organizational bonus, and an outstanding benefits package.

RESPONSIBILITIES:

• Promote the credit union as a real estate team member by making outside sales calls to brokers and realtors using sales techniques and ability.
• Meet with borrowers interested in or applying for real estate loans. Gather information and/or documentation, make recommendations, and process applications as appropriate. Provide timely, clear and concise communication throughout the application process to include progress and next steps. This includes communicating loan application status on both approvals and denials as well as providing education and insight for future applications. Attend all loan closings where possible.
• Prepare and issue initial disclosures in accordance with current regulations.
• Monitor all loans in process to ensure proper documentation is being obtained and keep an updated pipeline.
• Ensure the confidentiality and security of loans being processed.
• Issue pre-qualification letters according to WECU guidelines.
• Provide information to members regarding loan rates and terms, application processing, credit reporting, loan funding and ongoing servicing.
• Attend field and community driven functions to show WECU presence and support.
• Stay current on real estate law and secondary market guidelines using appropriate resources and research.
• Actively cross sell other WECU products and services that would complement the member's financial needs.
• Stay informed in all aspects of WECU's business plans, operations, changes to policy and procedure, as well as WECU's history and philosophy.
• Follow policy and procedures related to Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP) and Customer Due Diligence (CDD) daily to ensure compliance with current regulations.
• Follow policy and procedures related to OFAC by consistently running entities and non-member check payee names through the Bridger system.
• Follow policy and procedures related to SARs by monitoring and reporting suspicious activity to the Compliance department. Notify immediate supervisor of any substantive discrepancies with respect to information obtained under the CIP, including fraudulent identification, fraudulent applications, etc.
• Complete mandatory BSA/AML annual training via online web course.
• Maintain registry for Nationwide Mortgage Licensing System & Registration (NMLS).
• Perform specific and delegated duties as assigned by management.
• Provide accurate loan payoff or verification information to members, other financial institutions and escrow companies.
• Process and order supporting documentation for all loan transactions. (i.e. appraisal, verification of employment, credit report, title commitment, etc.)
• Review subordination requests and partial reconveyance requests for approval and processing
• Follows WECU's policies and all applicable laws and regulations.
• Performs other duties as assigned and may also assist others to complete tasks and work assignments.

QUALIFICATIONS:

• High school diploma or GED.
• Two years of experience in a related field with equal responsibilities is acceptable. Formal training should be supplemented with continuing education.
• Working knowledge of the credit union’s products and services.
• Working knowledge of organizational policies/procedures and credit union’s service philosophy.
• Working knowledge of safety and security program for false alarms, robberies, bomb threats and extortion.
• Working knowledge of credit union’s in-house computer system and real estate loan processing system.
• Knowledge of state and federal lending regulations.
• Ability to exercise judgment, initiative, and tact in dealing with members, management and staff.
• Ability to represent the credit union in a positive, professional manner in person, on the telephone, and in written correspondence.
• Knowledge in processing and packaging secondary market loans.

NOTE: Job descriptions are not intended, and should not be construed, to be exhaustive lists of all responsibilities, skills, efforts, or working conditions associated with a job.

COMPENSATION:

Compensation for this role consists of incentive-based earnings tied to funded loan volume, starting at 75 basis points, with a guaranteed monthly draw.

WECU provides a comprehensive benefits package that includes medical, dental, and vision benefits with premiums for employee coverage paid in full, 401(k) retirement plan with an 8% annual contribution from WECU, bonus plan, two or more weeks of vacation, up to 11 paid holidays, paid life and disability insurance, annual wellness benefits, loan discounts, professional development, and much more.

ABOUT WECU:

WECU is a not-for-profit financial cooperative where members are encouraged to save and borrow responsibly at fair and competitive rates. Headquarters in Bellingham, WA, WECU has over 160,000 members and over $3 billion dollars in assets.

It is WECU's mission to make a meaningful difference in the lives of our members. We strive to treat both members and staff with honesty and integrity and to be a socially responsible part of our community. WECU also endeavors to be an employer of choice.

WECU is an Equal Opportunity Employer that is committed to diversity and inclusion in the workplace. We make employment decisions based on merit and qualifications and seek to have the best qualified person in every job. WECU policy prohibits discrimination based on race, color, religion, creed, sex, gender, sexual orientation, gender identity, marital status, age, national origin, or ancestry, physical or mental disability, veteran status, genetic characteristics or information, or any other consideration made unlawful by federal, state, or local laws.

WECU participates in the federal E-Verify program to confirm the identity and employment authorization of all new hires.