Mortgage Credit Supervisor supervises mortgage credit analysts and monitors application procedures to ensure assignments meet established processes/standards. Reviews the analysis of current, new and renewed residential loans. Being a Mortgage Credit Supervisor ensures processing timelines and production targets are met. Makes recommendations for process improvement. Additionally, Mortgage Credit Supervisor requires a bachelor's degree. Typically reports to a manager or head of a unit/department. The Mortgage Credit Supervisor supervises a small group of para-professional staff in an organization characterized by highly transactional or repetitive processes. Contributes to the development of processes and procedures. Thorough knowledge of functional area under supervision. To be a Mortgage Credit Supervisor typically requires 3 years experience in the related area as an individual contributor. (Copyright 2024 Salary.com)
Harvesters Federal Credit Union
Structured Compensation - Job Description
Mortgage Loan Officer
Data Year: 2020
Prepared On: 04/15/2020
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Department: Mortgages Grade: 10
Reports To: VP of Investments and Insurance Classification: Exempt
Supervises Direct: 0 Supervises Indirect: 0
Approved By: Bill Cox Effective Date: 07/21/2010
Revised Date: 04/15/2020
Role: To assist members with their mortgage lending needs: analyze loan requests and make credit decisions based on mortgage lending policy.
Essential Functions & Responsibilities:
E 35% Reviews and evaluates information on mortgage loan documents to determine if buyer, property, and loan conditions meet bank and regulatory standards. Approves or rejects loan application, or requests additional information. Establishes terms and conditions of an approved loan and reviews with member.
E 25% Markets the Credit Union's mortgage lending program to companies and individuals within the real estate community.
E 10% Evaluates acceptability of loan on secondary mortgage markets.
N 10% Cross-sells other Credit Union services.
N 5% Calls or visits members who are delinquent on their loan payment to bring loan current.
N 5% Assembles documents in loan file, including acceptance or denial, and returns file mortgage clerk.
N 5% Keeps informed of current trends in mortgage lending and market factors affecting mortgage lending.
N 5% Performs other job-related duties as assigned.
Performance Measurements:
1. Ensure all loan decisions are made within the established time frame and in compliance with lending policies, procedures, rules, and regulations and have zero errors.
2. Communicate loan decision to all involved parties within 24 hours of receipt of mortgage application file.
3. Troubleshoot and resolve member and internal inquiries in a timely, friendly, accurate manner.
4. Maintain a delinquency rate at or below .5% of loan portfolio.
5. Maintain a charge-off rate at or below .2% of loan portfolio.
6. Meet or exceed the minimum established individual goals each month.
7. Develop and maintain knowledge of all mortgage products and rates within the credit union and from the mortgage industry.
8. Communicate with mortgage operations staff to ensure smooth movement from applications to closing.
Knowledge and Skills:
Experience Two years to five years of similar or related experience.
Education (1) A two year college degree or (2) Completion of a specialized course of study at a business or trade school or (3) Completion of a specialized and extensive in-house training or apprenticeship program.
Interpersonal Skills A significant level of trust and diplomacy is required, in addition to normal courtesy and tact. Work involves extensive personal contact with others and/or is usually of a personal or sensitive nature. Work may involve motivating or influencing others. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary.
Other Skills Must have good communication skills; 10-key calculator and keyboard skills required.
Physical Requirements Ability to sit/stand and utilize computer workstation, including phones, keyboard and visual display monitor for extended periods of time.
Work Environment Office with some local travel.
Disclaimer:
This Job Description is not a complete statement of all job duties and responsibilities comprising this position.
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Confidential Page: 2/ 2
Job Type: Full-time
Pay: $1.00 - $5.00 per hour
Expected hours: No less than 40 per week
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Work Location: In person
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