The Mortgage Originator is responsible for offering counseling, guidance, and understanding of a wide variety of mortgage products to best suit the need of the borrower(s). The Mortgage Originator is responsible for completing the application (1003), gathering of all supporting documentation, preparation of initial disclosures, keeping borrower updated on status of the loan throughout the process and discussing final closing figures prior to closing. They are also responsible for building relationships with the local Realtor & Builder Community & work directly with Purdue Federal Business Partners in generating business for the organization. Must comply with all SAFE Act regulation procedures.
*Employees are expected to adhere to all rules and regulations applicable to this position, including but not limited to all policies and procedures pertaining to the Bank Secrecy Act.
Duties and Responsibilities (Essential Functions):
- Counsel/Origination of Mortgage Loans
- Meet with borrowers in person, via phone or email in regards to specific mortgage inquiries
- Must offer professional opinion and guidance on the mortgage product that would best fit the need of the borrower, including but not limited to pre-qualifying the borrower
- Includes calculation of estimated payments
- Calculation of estimated closing costs, escrow monies, and total funds to be taken to closing
- Locking of interest rate
- Completing 1003
- Work closely with the processor to prepare the Initial Disclosures and explain to the borrower(s).
- Completion of Borrower’s Authorization and Rate Lock Agreement
- Collection of all fees needed to process file
- Gather all supporting documentation and provide processor with copies within 24 business hours of application
- Communicate with borrower as well as all third parties involved in the transaction (builder/realtor/title companies) throughout the mortgage process to answer questions, keep borrower and all others involved updated on status of application, etc.
- Relations Management
- Build relationships with real estate agents and others that will lead to potential business for the Credit Union or mortgage loan applications.
- Cold call or arrange visits.
- Attend community functions and promote Purdue Federal.
- Regularly participate in activities in connection with mortgage sales, including but not limited to attending closings, open houses, and/or conducting seminars/trainings and other lead-generating activities.
Knowledge, Skill, and Ability Requirements:
- College course work in Business, Finance or a related field
- 1 to 3 years of mortgage lending experience
- Knowledge of Secondary Market Guidelines/Federal Lending Regulations
- Ability to communicate verbally and in writing, in a professional manner when dealing with employees, members, vendors and company contacts
- Ability to follow the core values of honesty, integrity, mutual respect, pride and ownership
- Self-motivated and highly organized
- Must be a team player with a positive attitude
Work Environment/Physical Demands:
- This job operates in a clerical office setting. This role routinely uses standard office equipment such as computers, phone, photocopiers, filing cabinets and fax machines
- This position requires manual dexterity, the ability to lift files and open filing cabinets
- This position requires sitting, bending, stooping or standing as necessary
Purdue Federal Credit Union is an Equal Opportunity Employer M/F/Disability/Veteran