Mortgage Loan Officer Trainee

Job Description:

Primary Function:

Under the supervision of a Mortgage Assistant Sales Manager, this role is responsible for assisting Virginia Credit Union members in obtaining first mortgage loans including FHA, USDA-RD, VA, and VHDA. Develop and maintain business relationships with VACU business partners, builders and realtors. Obtain and maintain all pertinent documents for processing. Responsible for application from initial receipt through loan approval/closing and ensuring that the application is handled in a timely manner. Exemplify excellent member service.

Length of Training Program

After successfully completing the 12 month training program, the Mortgage Loan Officer Trainee shall be promoted to the role of a Mortgage Loan Officer RETAIL. At this time, the base pay will be reduced and earned commission will become a major part of your total salary.
*Training program can be completed under 12 months with demonstrated proficiency in required skillset

Job Duties and Responsibilities:

Mortgage Sales

• Assists the Mortgage Loan Officer with interviewing members for first mortgage and equity loans including purchase and refinance transactions.
• Perform the following tasks include the following: taking a complete loan application; production of an accurate Loan Estimate; proper set up of loan file in the loan origination system; issuing interest rate locks (upon client request); timeline and management of mortgage loan officers pipeline. Submit complete applications to processing and underwriting
• Assist members with understanding the homeownership process or other related mortgage products, including conventional and government lending programs. Present mortgage options that balance leverage and home affordability.
• Assists in obtaining information for timely processing of all mortgage and equity loans. Verify supporting documentation including, but not limited to, employment history, deposit information and other documentation related to the application.
• Consistently communicates with members and REALTORS regarding their application status, (approval, denial, additional documentation, etc.), and current interest rates.
• Promotes Virginia Credit Union Home products at branch locations, VACU finance seminars, and cross promotes other VACU financial services options such as consumer lending, investment services, property and casualty insurance, title and settlement services, and Joyner Fine Properties.
• Attend homeownership programs and seminars.
• Exemplify excellent member service.

Communication and Partnership

• Proactively communicates with teammates, management, business partners and settlement agents as needed regarding loan status to ensure on time closing
• Maintains a positive partnership with other departments and team members to ensure good communication and a positive member experience and department environment
• Actively contributes towards team and departmental goals
• Is an active member and contributes positively to the success of the mortgage sales team and the mortgage department
• Consistently demonstrates top notch member service through consistent exemplary member service scores, member/business partner feedback and teammate feedback
• Consistently demonstrates prompt attendance

Compliance

• Complete all required credit union wide training (i.e. BSA, Fair Lending, OFAC, TRID, etc.)
• Complies with policies, procedures, practices, documents, and controls for the Mortgage function to protect the interests of the Credit Union, and ensures compliance with state, federal, NCUA and other applicable regulations including but not limited to National Flood Insurance Program (NFIP), Regulation B, Regulation C, Regulation X (RESPA), and Regulation Z (Truth in Lending), Potential Transfer of Servicing Form, and if required, the Adverse Action form.
• Comply with all published enterprise level policies and procedures including, but not limited to, Risk Management policies.

Other

• Assist management to investigate audit exceptions and formulate responses.
• Assists Post Closing in obtaining outstanding documentation for all closed mortgage loans
• Contributes towards team and departmental goals
• Other duties may be required and assigned.
• Assist with testing the mortgage loan origination system new product and program releases and updates/upgrades as needed.

Prerequisites for Position:

Education:

• High School Graduate; College graduate preferred, but not required.

Work Experience:

• Prior retail banking or consumer lending experience preferred
• Prior experience with residential lending preferred
• Previous retail banking sales experience preferred.
• A minimum of 2 years retail banking and direct branch sales experience. General understanding of mortgage documentation as well as federal, state, and local real estate regulations preferred. Prior experience building referral source relationships and marketing mortgage products preferred.
• Excellent oral and written communication skills and organization skills required. Strong customer service and sales ability. Strong problem solving and organizational skills. Ability to analyze financial information. Must be a team player and willing to learn.

Comments:

• Overtime and/or Saturday hours may be required

NMLS:

• Must be able to be actively registered with the Nationwide Mortgage Licensing System and Registry (NMLS).

PHYSICAL REQUIREMENTS:

• This job requires the ability to sit for long periods of time.
• This job requires infrequent lifting or carrying of objects up to 10 pounds.