Real Estate Loan Officer

Role:

Solicit potential borrowers/members for new residential real estate (RE) loan business. Must continuously identify and maintain business relationship by developing a network that serves as a recurring source of referrals for new lending opportunities. This network will include real estate professionals, LADWP employees and contacts, accountants, CPA's, community groups as well as other professionals and personal contacts that are valuable referral sources. The RELO is required to be registered through the NMLS registry.

Major Duties and Responsibilities:

50% - (Business Development) - Develops and maintains business relationships with LADWP JFB and all DWP yards, branches and all other networking relationships. Develops a business referral network through cold-calling, prospecting, networking activities such as attending Broker Caravans, NAHREP, AREAA and other community meetings. Attends Realtor Board meetings on a regular basis. Participates in community efforts to promote home ownership. Originates, reviews and processes all real estate applications. Cross sells new memberships, checking, savings, MasterCard, consumer loans, Power Auto Buying Services and investment products. Reviews all applications, credit reports and documents received from members and gather additional documents and letters of explanations as needed. Reviews all income documents and tax returns and analyze the income including but not limited to completing the Fannie Mae 1084 analysis. Supports the needs of the sales division by assisting wherever needed to meet member demand with sales and service delivery. Meets and maintains minimum sales objectives assigned by management. Actively retails the lending products and services of the credit union by providing appropriate information to the membership. This is primarily done by interviewing members to determine appropriate real estate loan products to meet their needs. Provides in-depth level of knowledge and skill in secondary market guidelines.

25% - (Member Focus) Internal/External - Ensures compliance with all credit union member service standards. Performs all member related functions and activities in accordance with superior member service. Promotes a retail sales environment by cross-selling all credit union products and services. Composes and handles member correspondence including phone, voicemails and e-mails in timely manner. Resolves inquiries and provides product information in timely manner. Recommended 2-4 hours on consistent basis. Provides feedback to staff, management, and other service centers on any issues that can improve performance. Maintains effective communications between licensed and non-licensed branch staff and the RE Lending Service Center and the Call Center. Provides support to other service centers in order to achieve exceptional member service and contribute to the overall success of the organization. Maintains professional standards with all members and staff contacts including written correspondence and branch appearance. Provides support to other service centers in order to achieve exceptional member service.

20% - (Quality of Work) - Assists other staff members with product and service issues with minimum supervision. Ensures compliance with all credit union member service standards. Requires submitting complete and organized loan files to processing using eFolder and paperless process via Encompass and/or e-mail. Explains and provides complete notes on members' applications including Letters of Explanations as needed. Documents member notes in the conversation log consistently (Encompass). Stays current with all products, compliance and market changes. Follows up on submitted loans regularly and manage his or her pipeline on daily basis. Assists the loan processor with data collection to move the file through the pipeline. Provides feedback to member/applicant on the status of their loan consistently.

5% Other duties as assigned.

Expectations:

1. Meets with Prospective members/borrowers
2. Reviews and analyze credit and financial data before submitting including income and assets documents
3. The following is the minimum required for each file submitted:
   
   
   
   1. Uploads a complete 1003 via Encompass
   2. Pulls credit
   3. Prices the loan
   4. Requests all the necessary conditions from members, reviews them to make sure they are complete and then downloads them to Encompass eFolder
   
   
   
   
4. Determines member financing objectives and goals
5. Presents appropriate WPCCU products and programs and explains guidelines and process
6. Apprises of pricing and lock rate as required
7. Identifies appropriate opportunities to cross sell additional WPCCU products or services
8. Helps collect supporting loan documentation as required during processing and attach them to the eFolder
9. Enters all comments in the conversation log (Encompass)

Follows up on their pipeline on daily basis

Basic Qualifications:

• Minimum of 2-4 years residential mortgage lending experience with a focus on generating self-sourced business.
• Demonstrates success in prospecting, generating leads, closing business and consistently meeting/exceeding production goals.
• Demonstrates understanding of mortgage loan origination, processing, underwriting and funding procedures
• Knowledge of conventional and government lending guidelines.
• Strong knowledge of Federal regulations governing real estate lending.
• Strong computer skills including a fundamental understanding of MS applications, database management and previous experience utilizing laptop technology for communication purposes including accessing rate, credit and loan status information.
• Solid time management skills and the ability to organize prioritize and perform multiple tasks simultaneously.
• Ability to communicate clearly and effectively, both verbally and in writing, across a variety of audiences.
• Ability to analyze and comprehend complex financial data and provide financial alternatives.
• Professional and effective interpersonal skills.
• High School Diploma or equivalent with 4 year college degree (preferred).