Residential Loan Officer

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Company intro:

Community Financial Credit Union is a full-service financial institution that serves anyone living, working, worshiping, or attending school in Michigan. We are a not-for-profit institution and have been in business for over 70 years!

Community Financial Credit Union HQ is located in Plymouth, MI. We have 14 branches in the Metro Detroit Area well as Northern Michigan.

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The Residential Loan Officer is responsible for the origination of residential first and second mortgages that are generally derived from internal sources such as by the experience team, from provided leads, for employees, or mortgage refinances for current CFCU mortgage holders.

Compensation for this position has a starting amount of $18.94 hourly plus incentives but has the opportunity to increase with relevant work experience and transferrable skills.

A Day in the life of a Residential Loan Officer can look like:

• Deliver on our Member Engagement Manifesto and ensure an exceptional member experience through the mortgage journey.
• Respond to internally generated referrals/hot line transfers from branches/care center promptly.
• Reach out to members in the market for a mortgage (leads), with a firm offer of credit where required, within 24 hours of notification.
• Perform outbound calling (leads) from internally generated sources to maximize opportunities as directed.
• Accomplish sales goals and meet minimum monthly closed loan and deposit expectations.
• Consult with members about their home financing needs, risks, and offer lending solutions.
• Interview applicants to determine financial eligibility and feasibility of granting loans.
• Assess member needs, explore all options, and introduce different types of loans.
• Fully complete a mortgage loan application and/or an equity application online, over-the-phone, or potentially in-person at member's insistence.
• Communicate and set expectations with members regarding information that may be needed at the onset and/or subsequently to complete the application process.
• Pull tri-merge and/or single bureau credit report to ensure program eligibility based on member's credit history and/or credit scores.
• Preliminarily calculate income to determine all applicable ratios and metrics.
• Run Automated Underwriting and interpret findings.
• Select appropriate loan program meeting member expectations with first lien mortgages or home equity loan products.
• Provide prompt pre-approvals to applicants seeking homeownership.
• Lock loan, with approval from member.
• Review loan purchase contracts for issues or restrictions (as applicable)
• Maintain continuous communication with members, realtors, and loan operations team during loan process.
• Collaborate with loan assistant or loan processor in obtaining underwriting conditions.
• Effectively share our story and bring in deposit relationships.
• Perform other duties as directed by leadership.

What you bring to the table:

• High school diploma or equivalent.
• Minimum 1 years solid work experience in residential mortgage lending.
• Must possess a valid Nationwide Mortgage Licensing System (NMLS) registration.
• Solid understanding of residential lending practices and programs.
• Capable of working in a sales-centric, goal-oriented environment.
• Exceptional professionalism providing for a best-in-class member experience.
• Excellent verbal and written communication skills.
• Outstanding organizational and follow-up skills.
• Capable of proficiently delivering and handling difficult customer conversations.
• Strong teamwork abilities with co-workers and colleagues.
• Excellent interpersonal and decision-making skills
• Ability to handle the stress of meeting time-sensitive deadlines.
• Proficient computer skills, including MS Office and databases.
• Ability to adapt well to change and learn quickly.
• Ability to problem-solve with a high level of personal accountability.
• Proficiency using Excel and Word.

You might also have:

• Proficient with Encompass.
• Experienced with originating equity loans/lines.
• Experienced in gathering deposits.
• Experience in mortgage lending.
• Experience reaching or exceeding sales goals and objectives.

Top benefits:

As a team member at Community Financial Credit Union, you'll enjoy:

• Medical, dental, and vision plans
• Four weeks of PTO for all full-time team members
• Federal Bank Holidays off
• Flexible work options depending on position
• A generous 401k match
• Numerous employee engagement activities

What our organization has to offer:

• Community Resource Groups
• Volunteer time off, caregiver time off, family event time off
• Volunteer opportunities
• Company events
• Mentorship Program, Internal Growth Program

Contact/application information:

If this description appeals to you, please submit an application! A member of CFCU's Talent Acquisition Team will be in contact with you shortly!

Equal Employment Opportunity Policy: Community Financial Credit Union is an equal opportunity employer (M/F/D/V). We recruit, employ, train, compensate, and promote without regard to race, religion, creed, color, national origin, age, gender, gender identity or expression, sexual orientation, marital status, disability, veteran status, or any other basis protected by applicable Federal, State or local laws.