Top Mortgage Credit Manager manages the loan application review process to determine loan eligibility and terms. Schedules and coordinates workload to ensure timely and accurate turnaround, and adequate staffing. Being a Top Mortgage Credit Manager provides loan options or product recommendations based on qualifications and stays informed on any new products, regulations, or product changes. Assists loan underwriters with complex or unique circumstances and trains the team on all regulatory guidance to ensure compliance. Additionally, Top Mortgage Credit Manager recommends improvements to the review process and general underwriting procedures to maximize efficiency. Requires a bachelor's degree. Typically reports to a director. The Top Mortgage Credit Manager typically manages through subordinate managers and professionals in larger groups of moderate complexity. Provides input to strategic decisions that affect the functional area of responsibility. May give input into developing the budget. To be a Top Mortgage Credit Manager typically requires 3+ years of managerial experience. Capable of resolving escalated issues arising from operations and requiring coordination with other departments. (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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