Real Estate Loan Origination Supervisor – Commission
WECU is seeking a Real Estate Loan Origination Supervisor to serve both Whatcom and Skagit counties. In this role you’ll ensure both you and your commission based loan officer team meet or exceed production goals through effective business development, excellent communication with borrowers and related professionals, and timely and efficient loan processing and closings, while delivering a quality member experience.
This is a commission-based position with a competitive commission program, organizational bonus, and outstanding benefits package.
- Works with the Real Estate Production Manager to establish Loan Officer production goals.
- Accountable for production levels and business development activities to meet overall department, member service and quality goals.
- Complete regular 1:1 meetings and quarterly staff dialogs to support and develop individual team members. Explore ways to involve staff in strategic planning to correct deficiencies in production.
- Train and coach Loan Officers in the development of business relationships including builders, real estate professionals, and other personal and professional referral partners.
- Responsible for scheduling training, time-off, and other requests for staff.
- Responsible for marketing/promoting the Real Estate Loan Department. Participate in WECU sponsored community and credit union activities and events to promote the credit union and home ownership. Participate in Marketing supported webinars, seminars and educational or informative videos.
- Collaborate with Real Estate Loan Production Manager on development of real estate loan programs, products, services, systems, and procedures.
- Handle member complaints/concerns in a professional and timely manner.
- Performs all duties and responsibilities of a commission based Real Estate Loan Officer:
- Meet with borrowers interested in or applying for real estate loans. Determine financial objectives, 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.
- Responsible for originating and processing complex and/or sensitive lending transactions.
- Must be registered as an MLO or able to register and acquire an NMLS number and comply with all S.A.F.E. act requirements.
- Performs regular review of loan officer pipeline and files for coaching opportunities and to ensure compliance to underwriting and documentation standards are maintained.
- Actively cross sell other WECU products and services that would complement the member’s financial needs.
- Remain current on changes within the legal, regulatory, economic, competitive, and technology environment that may affect real estate lending functions.
- Stay informed in all aspects of WECU’s business plans, operations, changes to policy and procedure, as well as WECU’s history and philosophy.
- Stay abreast of real estate secondary market guidelines and inform and educate staff on changes.
- Ensure that all real estate loan origination procedures are reviewed and updated annually, or earlier if needed.
- Responsible to respond, report, and recommend changes with respect to Quality Control audits.
- 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 by you and your staff with current regulations.
- Follow policy and procedures related to the Office of Foreign Assets Control (OFAC) to ensure compliance by you and your staff.
- Follow policy and procedures related to Suspicious Activity Reports (SARs) and ensure compliance by you and your staff 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 and ensure staff does the same.
- Perform specific and delegated duties as assigned by Manager.
- Working with the Real Estate Leadership team and the Real Estate Loan Administrators, ensure the accuracy of all Real Estate department information published on the WECU internet website to include the accuracy of department products/services.
- Process and order supporting documentation for all loan transactions (i.e. appraisal, verification of employment, credit report, title commitment, etc.).
- Facilitate subordination and partial release requests for approval and processing as needed.
- May participate in performing property/site inspections of on-going construction loans as needed for draw disbursements.
Education, skills, and experience
- Job requires a high school diploma or GED. A minimum of two years of mortgage lending experience in outside sales is required. Past supervisory experience preferred. Formal training should be supplemented with continuing education.
- Working knowledge of the credit union’s products and services
- Working knowledge of organization’s policies/procedures and credit union’s member service philosophy
- Working knowledge of FNMA, USDA, programs and underwriting requirements
- Familiarity with Desktop Underwriter (DU) program
- Strong technical experience with PCs, Word, Excel, and other related software
- Robust external sales experience along with successful network development skills
- Working knowledge of the home lending process. This includes a general understanding of the processing, underwriting, closing, and funding roles and requirements
- Working knowledge of safety and security program for false alarms, robberies, bomb threats and extortion
- Working knowledge of credit union’s real estate loan processing platforms
- 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
- Business fluency in Spanish or another language preferred but not required