Member Direct Loan Officer

Overview

PenFed is hiring a (Hybrid) Member Direct Loan Officer at our San Patricio, Puerto Rico office. The primary purpose of this job is to be a trusted advisor to our members, assist with the appropriate mortgage decision for their unique needs. This position will be measured on their speed to lead, pre-approval to full application conversion, collection of intent to proceed, including initial documentation and sales contract, application quality, member, and realtor satisfaction. Additionally, this position will be a collaborative team effort with mortgage operations teams to ensure PenFed meets the members’ desired closing date.

Responsibilities

Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties, and the position will perform other duties as assigned.

• Act as a trusted advisor to PenFed members and prospective membership, related to the purchase and refinance of their primary home or second home property.
• Fully explain the mortgage process and set the right expectations of what the experience will entail.
• Promptly answer all phone calls and lead opportunities.
• Serve as a member liaison to ensure the closing date is met.
• Initiate and maintain contact with members throughout the processing period to ensure PenFed has continued to meet their needs, conveying the appropriate level of urgency and professionalism so that all expectations are exceeded.
• Identify any issues, which may affect ability to meet previously established conditions and dates in a timely manner.
• Complete the application over the phone for the member, provide electronic content, encourage use of e-consent to facilitate a timely closing of the loan, fully explain the loan estimate (LE), and obtain intent to proceed, and initial documentation.
• Responsible for follow up on all pre-approvals to answer questions and provide advice.
• Contact existing or new realtor as the lender who will be assisting the member and provide your direct dial information.
• Proactively work with the processor to obtain credit approval within established days of consent.
• Ensure all quality measures for the application are being met.
• Provide sound mortgage advice to members regarding the advantages and disadvantages of different loan products, pricing, and guidelines.
• Learn and utilize assigned programs and technology to maintain regulatory loan documentation requirements.
• Develop and maintain knowledge of Agency, Non-agency, VA and Home Equity lending policies and procedures.

Qualifications

Equivalent combination of education and experience is considered.

• High school degrees and experience that provide the necessary skills and knowledge to satisfactorily perform the essential job functions is required. Bachelor’s Degree is preferred.
• Minimum of two (2) years of residential mortgage lending experience with a focus on generating business is preferred.
• Must be bilingual (English/Spanish)
• Demonstrated understanding of mortgage processing, underwriting and closing procedures.
• Knowledge of agency, non-agency, FHA, VA, and home equity lending guidelines.
• Understanding of Federal Regulations governing Real Estate Lending.
• Must be willing to work evenings and weekends.
• Experience using A.I. tools preferred

Supervisory Responsibility

This position will not supervise employees.

Licenses and Certifications

Must have an active NMLS license.

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*

Travel

Ability to travel to various worksites and be on-call may be required.

#LI-Hybrid

Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties, and the position will perform other duties as assigned.

• Act as a trusted advisor to PenFed members and prospective membership, related to the purchase and refinance of their primary home or second home property.
• Fully explain the mortgage process and set the right expectations of what the experience will entail.
• Promptly answer all phone calls and lead opportunities.
• Serve as a member liaison to ensure the closing date is met.
• Initiate and maintain contact with members throughout the processing period to ensure PenFed has continued to meet their needs, conveying the appropriate level of urgency and professionalism so that all expectations are exceeded.
• Identify any issues, which may affect ability to meet previously established conditions and dates in a timely manner.
• Complete the application over the phone for the member, provide electronic content, encourage use of e-consent to facilitate a timely closing of the loan, fully explain the loan estimate (LE), and obtain intent to proceed, and initial documentation.
• Responsible for follow up on all pre-approvals to answer questions and provide advice.
• Contact existing or new realtor as the lender who will be assisting the member and provide your direct dial information.
• Proactively work with the processor to obtain credit approval within established days of consent.
• Ensure all quality measures for the application are being met.
• Provide sound mortgage advice to members regarding the advantages and disadvantages of different loan products, pricing, and guidelines.
• Learn and utilize assigned programs and technology to maintain regulatory loan documentation requirements.
• Develop and maintain knowledge of Agency, Non-agency, VA and Home Equity lending policies and procedures.

Equivalent combination of education and experience is considered.

• High school degrees and experience that provide the necessary skills and knowledge to satisfactorily perform the essential job functions is required. Bachelor's Degree is preferred.
• Minimum of two (2) years of residential mortgage lending experience with a focus on generating business is preferred.
• Must be bilingual (English/Spanish)
• Demonstrated understanding of mortgage processing, underwriting and closing procedures.
• Knowledge of agency, non-agency, FHA, VA, and home equity lending guidelines.
• Understanding of Federal Regulations governing Real Estate Lending.
• Must be willing to work evenings and weekends.
• Experience using A.I. tools preferred

Supervisory Responsibility

This position will not supervise employees.

Licenses and Certifications

Must have an active NMLS license.

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*

Travel

Ability to travel to various worksites and be on-call may be required.

#LI-Hybrid