An External Mortgage Loan Originator (EMLO) provides professional mortgage services to borrowers and non-members related to financing the purchase of residential real property and the refinancing of existing mortgages secured by residential real property. EMLOs work independently making sales calls on Realtors, Builders, Financial Planners, or other sources including referrals from members of FSCU clients. Other typical referral sources with whom an EMLO will seek to develop business relationships, include land developers, real estate attorneys, accountants, insurance agents, financial consultants, real estate appraisers, and banks. They will be based in a FSCU branch (to be determined). Employee will be hired as a FSCU employee and become licensed with NMLS and State of Texas within 60 days from start date.
Essential Functions & Responsibilities:
60% - Interview, process and close mortgage loans by collecting appropriate documentation from each applicant and delivering mortgage loan packages in the time frames set by management.
5% - Develops and maintains rapport with buyers in the secondary market and assists in the selling of mortgage loans in this market as stipulated by policy.
5% - Performs other job related duties as assigned.
5% - Coordinates mortgage loan training and education for the staff.
5% - Works with the marketing staff in developing mortgage loan promotions.
5% - Develop referral contacts (realtors, builders, professional and personal contacts).
5% - Maintain knowledge of available loan products, processing procedures, and underwriting and general departmental guidelines.
5% - Manage pipeline for all originated loans through closing and complete required management reports.
5% - Communicate with branches and/or applicants of providing timely updates and progress reports.
1. Ensure the department is providing professional, timely, personal service to all members and
associates by responding to all messages and correspondence within 4 hours.
2. Develop and maintain a highly qualified staff possessing maintaining knowledge of all mortgage
products and rates both with the credit union and the industry as a whole, sufficient to meet the
daily lending demands for members.
3. Ensure all mortgage lending activity is in compliance with established policies. procedures, rules
4. Ensure the department meets or exceeds 100% of established goals.
5. Keep management informed regarding key operational issues affecting the department.
Knowledge and Skills:
- Experience: One year to three years of similar or related experience
- Education: NMLS required training and licensed in the state of Texas and perhaps other states as company expands.
(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: Courtesy, tact, and diplomacy are essential elements of the job. Work involves much personal contact with others inside and/or outside the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation.
- Other Skills:
A. Knowledge of the secondary market and experience with first and second mortgage residential real estate lending; must have proven track record of selling and servicing loans.
B. Must have working knowledge of regulations affecting mortgage lending.
C. Must have good communication skills.
3. Must have working knowledge of Loan Origination Systems in general, as well as spreadsheets and word processing software; be able to use PC and general office equipment including 10-key calculator.
- Physical Requirements: While performing the duties of the job, the employee is regularly required to:
-position self to move about the work area
-reach, grab, sort
-communicate in person and via telephone with others
-identify and recognize small font communication
-ability to transport a minimum of 10 pounds