Retail Loan Officer I

Retail Loan Officer I

Job Type: Full-Time

Exemption Type: Non-Exempt

Wage Amount: $23.09 hourly minimum

The primary purpose of this position is to assist the Credit Union in achieving its mission of becoming members’ financial partner for life. Your role will conduct consultative loan interviews, identify cross help loan opportunities, and manage an application pipeline including processing, closing and funding loans in branch. They will partner with branch teams to deliver excellent member experiences for in-branch lending needs and provide outstanding service to internal (team) members while ensuring compliance with legal requirements, lending regulations, internal policies and procedures.

Essential Functions:

Member Service (consumer & mortgage)

• Conduct thorough consultative loan interviews and complete loan applications in branch for consumer and mortgage loan products, including first mortgage, home equity, vehicle, personal and specialty loans.
• Explain loan terms and compare scenarios including loan amounts, rates, payments, and fees, identifying loan product solutions that best fit individual needs.
• Review and explain program options, benefits, fees, standard qualifications, and documentation needs for all consumer and mortgage loan products.
• Prepare initial mortgage disclosure packages, including applicable fees and escrow calculations, and provide all required disclosures to borrowers within timelines as established by regulatory requirements.
• Review credit reports, member relationships and transaction histories during each consultation to identify additional cross help and loan savings opportunities.
• Structure, present and pull through cross help loan opportunities with applicants.
• Serve as primary point of contact with borrowers and maintain relationship through funding.
• Submit complete and thorough loan applications to underwriting, and work with underwriters on loan structure changes, vehicle valuations, and second reviews of documents.
• Communicate loan decisions to members, including explaining denial reasons and providing resources for financial/credit assistance, as applicable.
• Explain loan counter-offers & approvals to members and discuss loan stipulations, credit union guidelines and documents needed to proceed with loan request.
• Process approved consumer loan applications, ensure all stipulations are met, communicate with third parties such as dealers and lien holders as needed to collect processing information, collect and verify supporting documentation, and work up applications for funding.
• Verify validity of applicants and documents submitted to prevent fraud.
• Generate closing documents for direct consumer loans, complete loan closings with borrowers (in branch, DocuSign or Video Lending), and fund and disburse loan proceeds.
• Conduct mortgage loan closings in branch and notarize closing documents as required.
• Complete post-funding tasks, including preparation of vehicle title work packets and imaging of loan documents.

Branch/Departmental Support

• Manage application pipeline, follow up regularly on approved not funded applications, and maintain record of all contacts.
• Resolve audit exceptions within a timely manner.
• Work with branch staff and Retail Support to coordinate account openings for non-member applicants.
• Assist branch staff with lending needs and serve as a subject matter expert for loan products, applications and questions.
• Participate in branch huddles and other activities to maintain a positive, collaborative working relationship with branch teams.
• Answer inbound phone calls and interact with members via Video Lending to provide back-up support for the digital lending channels.
• Support outbound calling campaigns for consumer loan initiatives.

Miscellaneous Duties

• Consistently meet or exceed established Level I minimum expectations.
• Maintain job level knowledge by attending assigned trainings and reviewing procedures to perform all duties required of the position.
• Proactively work towards advanced knowledge of consumer and mortgage lending products, policies/procedures, and guidelines, as well as lending principles including credit scores, ability to repay, and underwriting ratios.
• Participate in external business development and community events.
• Complete annual regulatory training as assigned.
• Conduct individual dialogs with immediate supervisor, minimum quarterly.
• Perform other duties as assigned.

Education and Experience

• High school diploma or GED equivalent required.
• Bachelor’s degree preferred.
• Two years financial institution or sales experience required.
• One year consumer and/or mortgage lending experience preferred.
• Must be a commissioned Notary Public in Texas (may be obtained within first 12 months in the role)

Knowledge, Skills & Abilities

• Strong knowledge of consumer and mortgage lending products, guidelines, procedures, policies and laws, and knowledge of secondary mortgage lending and real estate market.
• Working knowledge of mortgage lending practices, federal & state regulatory requirements, mortgage insurance, secondary market, and compliance requirements.
• Knowledge of necessary documentation for mortgage disclosure and compliance purposes (Real Estate Settlement Procedures Act, Truth in Lending, Integrated Disclosure Rules, Equal Credit Opportunity Act, Fair and Accurate Credit Transactions Act, Home Mortgage Disclosure Act).
• Excellent written and verbal communication skills. Spanish speaking preferred.
• High level of professionalism, diplomacy, courtesy and tact.
• Comprehensive math skills, and excellent computer skills including MS Office suite experience.
• Ability to work independently and as part of a team, with flexibility to adapt to change.
• Problem-solving skills, ability to research and interpret as well as manage conflict.
• Working knowledge of Symitar Quest including posting transactions, TX DMV, TPWD Ownership Inquiry, FedEx, JD Power, DPS, and IQQ websites.

Certifications/Registrations

This position requires registration as a Mortgage Loan Originator (MLO) with the Nationwide Mortgage Licensing System (NMLS) and Registry on an annual basis in addition to maintaining updates as needed. Initial registration is required immediately upon hire into this position. Failure to register or maintain a current registry, or any criminal activity that would bar continued participation as an MLO may result in disciplinary action, up to and including termination of employment.

Physical Functions

• Must have the ability/stamina to work at least 40 hours a week.
• Will frequently reach, feel, bend, stoop, carry, finely manipulate and key in data.
• Must be able to engage in problem-solving skills to help identify and solve potential issues in the field.
• Must be able to communicate continuously through telephone, e-mail and in-person communications

Types of Decisions made independently: Providing members with proper lending products, advising members on best action to take on denials, provide members with next steps on approved loans, ensuring ease of use for members.

Types of Decisions requiring supervisory approval: Situations falling outside A+FCU policies and procedures.