Job Description

WECU is seeking a Real Estate Loan Officer to serve borrowers in Washington state to deliver a quality member experience through efficient, knowledgeable and timely residential mortgage origination. Demonstrate expertise in all available real estate loan programs and proactively solicit new residential mortgage business. Develop and maintain a quality network of business relationships to achieve production goals. Operate in compliance with laws and regulations and adhere to guidelines.

In this role you’ll deliver superior member experience through efficient, knowledgeable, and timely residential mortgage orientation.

This is an incentive-based position with a competitive commission program featuring a draw, an organizational bonus, and an outstanding benefits package.

RESPONSIBILITIES:

• Promote the credit union as a real estate team member by making outside sales calls to brokers and realtors using sales techniques and ability.
• Meet with borrowers interested in or applying for real estate loans. Gather information and/or documentation, make recommendations, and process applications as appropriate. Provide timely, clear and concise communication throughout the application process to include progress and next steps. This includes communicating loan application status on both approvals and denials as well as providing education and insight for future applications. Attend all loan closings where possible.
• Prepare and issue initial disclosures in accordance with current regulations.
• Monitor all loans in process to ensure proper documentation is being obtained and keep an updated pipeline.
• Ensure the confidentiality and security of loans being processed.
• Issue pre-qualification letters according to WECU guidelines.
• Provide information to members regarding loan rates and terms, application processing, credit reporting, loan funding and ongoing servicing.
• Attend field and community driven functions to show WECU presence and support.
• Stay current on real estate law and secondary market guidelines using appropriate resources and research.
• Actively cross sell other WECU products and services that would complement the member’s financial needs.
• Stay informed in all aspects of WECU’s business plans, operations, changes to policy and procedure, as well as WECU’s history and philosophy.
• Follow policy and procedures related to Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP) and Customer Due Diligence (CDD) daily to ensure compliance with current regulations.
• Follow policy and procedures related to OFAC by consistently running entities and non-member check payee names through the Bridger system.
• Follow policy and procedures related to SARs by monitoring and reporting suspicious activity to the Compliance department. Notify immediate supervisor of any substantive discrepancies with respect to information obtained under the CIP, including fraudulent identification, fraudulent applications, etc.
• Complete mandatory BSA/AML annual training via online web course.
• Maintain registry for Nationwide Mortgage Licensing System & Registration (NMLS).
• Perform specific and delegated duties as assigned by management.
• Provide accurate loan payoff or verification information to members, other financial institutions and escrow companies.
• Process and order supporting documentation for all loan transactions. (i.e. appraisal, verification of employment, credit report, title commitment, etc.)
• Review subordination requests and partial reconveyance requests for approval and processing
• Follows WECU’s policies and all applicable laws and regulations.
• Performs other duties as assigned and may also assist others to complete tasks and work assignments.

QUALIFICATIONS:

• High school diploma or GED.
• Two years of experience in a related field with equal responsibilities is acceptable. Formal training should be supplemented with continuing education.
• Working knowledge of the credit union’s products and services.
• Working knowledge of organizational policies/procedures and credit union’s service philosophy.
• Working knowledge of safety and security program for false alarms, robberies, bomb threats and extortion.
• Working knowledge of credit union’s in-house computer system and real estate loan processing system.
• Knowledge of state and federal lending regulations.
• Ability to exercise judgment, initiative, and tact in dealing with members, management and staff.
• Ability to represent the credit union in a positive, professional manner in person, on the telephone, and in written correspondence.
• Knowledge in processing and packaging secondary market loans.

NOTE: Job descriptions are not intended, and should not be construed, to be exhaustive lists of all responsibilities, skills, efforts, or working conditions associated with a job

COMPENSATION:

This commission-based position offers 75 basis points for originated residential loans as well as a guaranteed monthly draw.

WECU provides a comprehensive benefits package that includes robust medical, dental, and vision benefits with low employee premiums, 401(k) retirement plan with an 8% annual contribution from WECU, bonus plan, two or more weeks of vacation, up to 11 paid holidays, paid life and disability insurance, annual wellness benefit, loan discounts, professional development, and much more.

ABOUT WECU:

WECU is a not-for-profit financial cooperative where members are encouraged to save and borrow responsibly at fair and competitive rates. Headquartered in Bellingham, WA, WECU has over 160,000 members and over $3 billion dollars in assets.

It is WECU's mission to make a meaningful difference in the lives of our members. We strive to treat both members and staff with honesty and integrity and to be a socially responsible part of our community. WECU also endeavors to be an employer of choice.

WECU is an Equal Opportunity Employer that is committed to diversity and inclusion in the workplace. We make employment decisions based on merit and qualifications and seek to have the best qualified person in every job. WECU policy prohibits discrimination based on race, color, religion, creed, sex, gender, sexual orientation, gender identity, marital status, age, national origin, or ancestry, physical or mental disability, veteran status, genetic characteristics or information, or any other consideration made unlawful by federal, state, or local laws.