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External Mortgage Loan Officer (Bay Federal Credit Union)
Ref No.: 16-08586
Location: Capitola, California
The External Mortgage Loan Officer proactively solicits new residential first and second mortgage home loans that meet established loan quality and production goals. This includes but is not limited to spending 51% of time on outside sales such as origination of home loan products based on contacts with realtors and/or builders. This also includes spending a portion on time in a Bay Fed CU branch as a resource and mentor for branch staff that originate and refer home loan products. The External Mortgage Loan Officer identifies, develops and maintains a network of business relationships that serve as a recurring source of referrals for new home lending opportunities. They ensure exceptional customer service by maintaining thorough knowledge of lending programs, policies, procedures and regulatory requirements, demonstrating a commitment to professional ethics, complying with all Credit Union, federal and state compliance policies.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

1. Primary duty is sourcing and originating first mortgage home loans through development of relationships with realtors, builders, and business professionals.

2. Responsible for closing Bay Federal home loan applications submitted by branch and call center staff.

3. Sources and obtains first mortgage home loan inquiries from existing customer base, referrals, and external business sources using targeted marketing and/or advertising efforts

4. Conducts presentations at branches, real estate office sales meetings, homebuyer's seminars or any other venue to solicit first mortgage home loan business

5. Responsible for meeting individual and department home loan production goals supporting the overall Credit Union goals.

6. Uses interpersonal and communication skills to generate referral business, leads, and relationships with individuals, existing clients, past clients, and real estate professionals.

7. Manages pipeline so as to meet specific loan volume production goals, established loan quality and turnaround times.

8. Provide guidance and information relevant to the risks and benefits of each home lending program the applicant is qualified for; effectively explain and communicate the terms of each product; and ensure all necessary documents are signed by the borrower.

9. Gather all initial documentation required based upon the applicant's selected loan program and all disclosure requirements.

10. Analyze applicant's existing financial status, credit and property evaluation to determine feasibility of granting the loan, providing conditional approval or denial of loan request. Cleary communicate conditional approval and conditions surrounding the conditional approval.

11. Ensure all information and documents are presented to loan underwriting and are contained in the electronic loan file documenting the credit worthiness of the applicant.

12. Corresponds with or interviews applicant or creditors to resolve questions regarding application information.

13. Ensures loan agreements are complete and accurate according to policy and requirements set out in regulations and provides clear, understandable explanations at loan closing and document signing.

14. Completes home loans by monitoring collection, verification, and preparation of home loan documentation and scheduling and completion of mortgage loan closing.

15. Understands and can effectively apply home lending policies and procedures to all mortgage lending situations. Provides valuable input to Loan Procedures Manuals including updates, revisions, and the creation of new policies and procedures.

16. Analyzes detailed financial and credit data, matching the applicant's needs with an appropriate loan program and level of risk.

17. Receives loan applications, quotes the rate and points, and completes follow-up activities with the registration lock-in.

18. Promote and maintain a positive image of Bay Federal at all times to all personnel, members, volunteers, vendors and the community.


To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience:
• Bachelor's Degree in business or finance preferred.
• Minimum of two years' experience in mortgage loan sales, or equivalent combination of education and experience.

Certification and/or Licensing Requirements:
• Pursuant to the SAFE Act requirements, all applicants for employment who will be engaged in residential mortgage loan originations (as defined by the SAFE Act) must be registered with the federal registry system and maintain a status in good standing under the SAFE Act requirements.
• Must have current NMLS license.
• Valid California driver's license and insurance with reliable transportation.

Other Skills:
• 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 solve a variety of problems and deal with complex scenarios by using common sense and practical applications.
• Ability to understand the application of Regulations Z and B.
• Demonstrated PC skills, including Microsoft Office Suite.

Language Skills:
• Ability to read and interpret documents such as credit bureau reports, and related lending documents, policies and guidelines.
• Ability to write routine reports and correspondence.
• Ability to speak effectively with members and other Credit Union employees.
• Ability to interpret a variety of instructions furnished in written form, including but not limited to, Loan Policy, procedural manuals and loan guidelines.

Mathematical Skills:
• Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.
• Ability to compute rate, ratio, and percent and to draw and interpret bar graphs, as well as analyze data.

Physical Skills:
• While performing the duties of this job, the employee is regularly required to stand, talk or hear.
• The employee frequently is required to walk; sit; use hands and reach with hands and arms.
• Must have the manual dexterity to skillfully operate a computer keyboard and other standard office equipment, such as a copy machine and telephone.
• The employee must occasionally lift and/or move up to 30 pounds.
• The employee must frequently communicate with others over the telephone.
• Corrected vision in normal range is acceptable.

ControlID: 14.234.89 SHR