Mortgage Loan Officer

  • Michigan Schools and Government Credit Union
  • Troy, MI, USA
  • May 13, 2022
Full time Banking Consultant Customer Service Other

Job Description

Available locations vary: Farmington Hills, Livonia, Canton, Commerce Township, Sterling Heights, Chesterfield, Macomb Township, and Troy.

Overview of Responsibilities: Responsible for origination of first mortgages including conducting initial   pre-qualification interviews, preparing loan application packages and necessary documentation, communicating policies for extension of credit in accordance with MSGCU and secondary investor guidelines, meeting production expectations, and serving members, prospective members, builders, developers, and real estate agents promptly and professionally. 

Essential Duties and Responsibilities:

  • Implements effective strategies and techniques to ensure members have a positive experience with MSGCU and our products and services at every touch point.
  • Performs loan origination activities including accurately reading, interpreting, and applying financial and numerical information to the loan file. Adheres to federal and state regulations; secondary market; and MSGCU policies, procedures, and guidelines.
  • A strong emphasis will be place on consultative phone selling, prospecting and member service. This position will focus on phone mortgage origination via inbound and outbound calling utilizing various lead sources (referrals, call lists, phone queue, self-generated, etc.). 
  • Highly skilled in persuasive sales and effective follow-up to maximize lead pull-through to closing.
  • Uses a consultative approach and asks high impact questions to identify and meet member needs, both perceived and unperceived. Listens for member cues and uses in depth knowledge of our products and services in order to offer effective solutions for member needs and cross sell MSGCU products and services by focusing on the benefits and value to the member.
  • Cultivates and maintains internal and external referral sources by attending loan closings, networking events, cold calling, follow up, and referrals to generate mortgage loan production. .
  • Maintains production levels at or above documented Minimum Production Standards.
  • Travels throughout branch network to strengthen relationships and collaborate with assigned branch teams in order to increase branch referrals and drive mortgage loan growth. Communicates mortgage updates and provides recommendations for identifying new opportunities. Responds to branch team members in a timely and efficient manner.
  • Performs follow-up work to achieve conditional approval within established time frames.
  • Provides consistent and effective communication informing all parties of loan transaction from pre-approval through funding issues preventing approval, denial, etc.  Follows up on cancelled and pre-approved applications. 
  • Maintains referral sources and member relationships after the closing by performing post closing activities through thank you letters, emails, phone calls, text messages and in person visits when possible to gain additional opportunities.

Essential Knowledge, Skills, and Abilities:

  • Member Focus: Uses active listening skills to gain insight and understanding into members’ homeownership objectives in order to offer appropriate options and build strong member relationships. Actively looks for ways to help people solve problems and/or meet financial objectives.
  • Action Oriented: Takes on new opportunities and tough challenges with a sense of urgency and enthusiasm. Strong organizational skills and ability to manage multiple responsibilities simultaneously in a fast-paced environment.
  • Builds Networks: Builds rapport and develops constructive relationship networks inside and outside MSGCU.
  • Communicates Effectively: Skillfully communicates to members with varying levels of mortgage knowledge the lending options, process, and timelines, and uses s. diplomacy and tact during high-tension situations. Poised phone presence and strong follow-up skills.
  • Persuades: Shares mortgage options in a compelling manner to help members see the value of our offerings as compared to others in the market. Encourages member referrals.
  • Instills Trust: Builds relationships and gains the confidence of others by modeling honesty, integrity, authenticity and behaviors that align with organizational values. Exemplifies courage by stepping up to address difficult issues.
  • Self-Development: Actively seeks new ways to grow and be challenged using formal and informal development channels.
  • Situational Adaptability: Adapts approach and demeanor in real time to match the shifting demands of different situations. Rebounds from setbacks and adversity.
  • Proficient with a variety of computer software applications including Microsoft Office products (Word, Excel, PowerPoint, and Outlook), and ability to operate standard office equipment.
  • Familiarity with secondary mortgage market underwriting, pricing, operations, and requirements as well as all consumer lending regulations.

Essential Preparation and Experience:

  • High school diploma or GED; and
  • Either
    • 1 year of mortgage origination experience; or
    • 2 years of mortgage banking experience or relevant lending experience in other roles; or
    • Associate degree in Business Administration, Marketing, Accounting, or Finance; or
    • 3 years of analytical finance experience.
  • Nationwide Multistate Licensing System & Registry (NMLS) licensure is highly preferred.

Working Conditions:

  • Office and branch location environment with little discomfort from noise, extreme temperature, dust, or other factors.
  • Occasionally required to travel throughout MSGCU's service area as business needs require.
  • Exposed to potentially hazardous conditions, such as robbery. Receives detailed instructions and security procedures on an annual basis to minimize risk.
  • This work involves sitting most of the time with brief periods of walking or standing and may occasionally require lifting and/or moving up to 10 pounds.
  • Normal working hours will be MSGCU’s standard branch and administrative office hours of operation, however, periodic weekends and/or before/after normal office hours will be required.