University of Michigan Credit Union
Mortgage Loan Officer
University of Michigan Credit Union is an Equal Opportunity Employer. University of Michigan Credit Union (UMCU) is a pillar of the local community for 70 years. We are passionate about our team members’ growth, success, and contribution to our amazing company culture. Responsibilities
Meet with applicants interested in purchasing or refinancing a home and conduct effective interviews, needs analysis, and answer any questions they may have on the lending process. Meetings occur based on the member’s preferred method; in person, Webex, or phone. Educate and advise the applicant on the home buying process and conforming and alternative loan program options available. Discuss financing options and loan pricing. Inform the applicant of applicable fees and closing costs including the appraisal, credit report, title insurance, notary fees, etc., and provide current information regarding rates and terms. Cross‑recommend additional credit union products where appropriate. Maintain pipeline of mortgage pre‑approvals and follow up with members in a timely manner. Document the applicant’s income, debt and credit history and assist the member through the loan application process. Request the appropriate documentation to support the loan request such as the purchase agreement, property description, assets (bank accounts, investments), proof of income, etc., and submit to processors for verification. For members and loans that qualify with appropriate DTI and LTV ratios, process Home Equity application alongside the mortgage application if member consents. Analyze approved loan applications for eligibility to sell to FHLBI. Participate in networking opportunities with local real estate brokers and builders to inform them of the Credit Union’s products and services. Build rapport and solicit new mortgage business from existing or new business partners such as developers and real estate agents. Assist with the review and updating of internal policies and procedures relating to mortgage and, as needed. Maintain knowledge of the Credit Union Act, credit legislation, legal implications of lending decisions, lending practices, and Credit Union operations. Maintain knowledge of FNMA and FHLMC guidelines. Assist in providing adequate staff training for existing and new staff designated to process mortgage loan requests. Provide periodic in‑service training of all staff. Work comfortably with established routines and procedures and anticipate problems in areas of specialization. Be responsible for the security of Credit Union property. Volunteer in various activities sponsored by UMCU within the University of Michigan and Ann Arbor communities. Maintain knowledge of and follow all credit union policies and procedures regarding BSA, OFAC, U.S. Patriot Act, Anti‑Money Laundering, S.A.F.E Act, CFPB regulations and Customer Identification Program. Other duties as assigned. Qualifications
Bachelor’s degree, or equivalent combination of education and experience. Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from managers, clients, customers, and the general public. Ability to perform basic math functions and compute rates, ratios, percent and to draw and interpret bar graphs. Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form. Physical Demands / Work Environment
The environment is typical of an office atmosphere. The noise level is usually moderate. While performing the duties of this job, the employee is frequently required to stand, walk, sit, use hands to finger, handle, or feel, reach with hands and arms, stoop, kneel, crouch, or crawl, and talk or hear. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus. Benefits
Work with a high energy and collaborative group of supportive professionals. We are committed to helping you own your career and grow professionally and personally. Comprehensive benefits including low cost/high coverage medical, dental, vision, leave of absence and more! Very generous paid time off and a very flexible work environment to help you find just the right work‑life balance. Tuition reimbursement and a student loan debt repayment program. Our Fidelity 401k program with employer match is one of the most generous you'll find. From parental leave to pet insurance and home office credits, our benefits package is one of the best you'll find! Seniority Level
Associate Employment Type
Full‑time Job Function
Customer Service and Finance Industries
Financial Services and Banking
#J-18808-Ljbffr
University of Michigan Credit Union is an Equal Opportunity Employer. University of Michigan Credit Union (UMCU) is a pillar of the local community for 70 years. We are passionate about our team members’ growth, success, and contribution to our amazing company culture. Responsibilities
Meet with applicants interested in purchasing or refinancing a home and conduct effective interviews, needs analysis, and answer any questions they may have on the lending process. Meetings occur based on the member’s preferred method; in person, Webex, or phone. Educate and advise the applicant on the home buying process and conforming and alternative loan program options available. Discuss financing options and loan pricing. Inform the applicant of applicable fees and closing costs including the appraisal, credit report, title insurance, notary fees, etc., and provide current information regarding rates and terms. Cross‑recommend additional credit union products where appropriate. Maintain pipeline of mortgage pre‑approvals and follow up with members in a timely manner. Document the applicant’s income, debt and credit history and assist the member through the loan application process. Request the appropriate documentation to support the loan request such as the purchase agreement, property description, assets (bank accounts, investments), proof of income, etc., and submit to processors for verification. For members and loans that qualify with appropriate DTI and LTV ratios, process Home Equity application alongside the mortgage application if member consents. Analyze approved loan applications for eligibility to sell to FHLBI. Participate in networking opportunities with local real estate brokers and builders to inform them of the Credit Union’s products and services. Build rapport and solicit new mortgage business from existing or new business partners such as developers and real estate agents. Assist with the review and updating of internal policies and procedures relating to mortgage and, as needed. Maintain knowledge of the Credit Union Act, credit legislation, legal implications of lending decisions, lending practices, and Credit Union operations. Maintain knowledge of FNMA and FHLMC guidelines. Assist in providing adequate staff training for existing and new staff designated to process mortgage loan requests. Provide periodic in‑service training of all staff. Work comfortably with established routines and procedures and anticipate problems in areas of specialization. Be responsible for the security of Credit Union property. Volunteer in various activities sponsored by UMCU within the University of Michigan and Ann Arbor communities. Maintain knowledge of and follow all credit union policies and procedures regarding BSA, OFAC, U.S. Patriot Act, Anti‑Money Laundering, S.A.F.E Act, CFPB regulations and Customer Identification Program. Other duties as assigned. Qualifications
Bachelor’s degree, or equivalent combination of education and experience. Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from managers, clients, customers, and the general public. Ability to perform basic math functions and compute rates, ratios, percent and to draw and interpret bar graphs. Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form. Physical Demands / Work Environment
The environment is typical of an office atmosphere. The noise level is usually moderate. While performing the duties of this job, the employee is frequently required to stand, walk, sit, use hands to finger, handle, or feel, reach with hands and arms, stoop, kneel, crouch, or crawl, and talk or hear. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus. Benefits
Work with a high energy and collaborative group of supportive professionals. We are committed to helping you own your career and grow professionally and personally. Comprehensive benefits including low cost/high coverage medical, dental, vision, leave of absence and more! Very generous paid time off and a very flexible work environment to help you find just the right work‑life balance. Tuition reimbursement and a student loan debt repayment program. Our Fidelity 401k program with employer match is one of the most generous you'll find. From parental leave to pet insurance and home office credits, our benefits package is one of the best you'll find! Seniority Level
Associate Employment Type
Full‑time Job Function
Customer Service and Finance Industries
Financial Services and Banking
#J-18808-Ljbffr