Mortgage Loan Originator
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CLASSIFICATION: Nonexempt
DEPARTMENT: Mortgage Lending
REPORTS TO: Director of Lending
SUPERVISES: N/A
SALARY: Depends on knowledge & experience. Starting at $45,000 -
General Summary
Originate residential mortgage loans by developing referral relationships, responding to member inquiries, and guiding applicants through the mortgage process. Recommend loan options that support members’ financial needs and goals, obtain and review application information, and collaborate with a mortgage loan processor and other lending partners to move loans efficiently from application through closing. Support Meritus Credit Union’s growth by meeting established production, loan quality, and service expectations while delivering on our commitment to “Exceptional Service. No Compromise.”
Essential Functions
- Develop and maintain relationships with Realtors, builders, community partners, and internal referral sources to generate mortgage lending opportunities.
- Proactively follow up on inquiries, referrals, and applications to support established mortgage production goals.
- Participate in community outreach, homebuyer education, member seminars, and related business development activities as appropriate.
- Interview applicants to understand their financial circumstances, home financing needs, and goals. Recommend appropriate mortgage products, including portfolio, conventional, FHA, USDA, VA, refinance, and home equity options offered by the credit union.
- Explain loan options, estimated costs, documentation requirements, and next steps clearly so members can make informed decisions.
- Obtain and review application information, income documentation, credit reports, and other relevant records to identify potential qualification issues and documentation needs.
- Use mortgage loan origination software and applicable automated underwriting systems to submit, track, and manage applications.
- Collaborate with the mortgage loan processor to maintain complete application files, obtain outstanding documentation, address underwriting conditions, and support timely loan decisions and closings.
- Coordinate the preparation and delivery of required disclosures with the appropriate lending staff, ensuring assigned responsibilities are completed accurately and within required timeframes.
- Maintain regular communication with members, the processor, underwriting staff, closing agents, Realtors, and other authorized transaction partners. Identify potential delays early and work collaboratively to resolve them.
- Manage an active mortgage pipeline, monitor important milestones and deadlines, and maintain accurate application records, referral activity, and pipeline information in designated systems.
- Communicate approved loan terms and coordinate rate lock requests and expiration dates according to credit union procedures.
- Coordinate with the processor and closing partners to support accurate closing documentation, satisfaction of closing conditions, and timely closings.
- Support secondary-market delivery requirements by working with the processor and designated staff to resolve outstanding origination documentation or conditions.
- Meet established expectations for mortgage production, application follow-up, pipeline management, loan quality, timely closings, and member service.
- Maintain current knowledge of mortgage products, underwriting requirements, credit union policies, and applicable regulatory requirements.
- Identify and recommend additional credit union products and services that meet members’ needs, and make appropriate referrals to other departments.
- Assist members with mortgage-related questions and connect them with the appropriate servicing staff when ongoing account support is needed.
- Protect confidential member information and maintain accurate records in accordance with credit union policies.
- Perform other duties as assigned.
Note: This list of essential functions is not exhaustive and may be supplemented as business needs change.
Job Specifications
Experience and Education
- At least two years of residential mortgage origination experience required.
- Experience independently guiding applicants through the mortgage process and managing an active loan pipeline required.
- Working knowledge of conventional and portfolio mortgage lending required. Experience with FHA, VA, USDA, and home equity lending preferred.
- Demonstrated experience developing referral relationships and generating mortgage lending opportunities preferred.
- Bachelor’s degree in business administration, finance, or a related field preferred. Equivalent relevant experience will be considered.
Knowledge Skills and Abilities
- Knowledge of mortgage origination practices, credit evaluation, income documentation, debt-to-income calculations, loan-to-value calculations, interest rates, closing costs, and mortgage documentation requirements.
- Proficiency with mortgage loan origination software, automated underwriting systems, and standard office applications.
- Strong interpersonal and relationship-building skills, with the ability to represent the credit union professionally in the community.
- Ability to explain mortgage products and requirements clearly and provide responsive, personalized member service.
- Strong organizational skills, attention to detail, and the ability to manage multiple applications and competing deadlines.
- Ability to collaborate effectively with a mortgage loan processor, underwriting staff, closing partners, and other departments.
- Ability to work independently, exercise sound judgment within assigned authority, and follow through on commitments.
- Ability to meet established performance expectations while maintaining loan quality and compliance.
- Ability to obtain and maintain applicable NMLS registration and satisfy related eligibility requirements.
Working Conditions and Physical Requirements
Work is primarily performed in an office setting and involves frequent computer use, telephone communication, and review of electronic documents. The position may also require local travel to meet with referral partners and attend community or business development events.
Essential functions must be performed with or without reasonable accommodation.