Loan Officer, Single Family Production - Tacoma, United States - HomeStreet

Description

Salary Range:
$0.00 - $96.15
(Depending on knowledge, skills, abilities and location. Certain level jobs may be eligible for bonus, commission, and/or equity awards.)

Posting Date:
February 27, 2024
This job will be open and accepting applications for a minimum of three days from the date it was posted.

Benefits worth writing home about:

• Medical, dental, and vision coverage for employees and their families
• Life, disability and family Leave
• 401(k) and Roth 401(k) with employer match
• Wellness program, employee assistance program, "Commute Trip Reduction" (CTR) and various employee discounts
• Generous vacation, sick leave, 11 paid holidays, and 16 hours of paid leave every year for community service work
• Free employee checking account and employee home loan discounts

EO/AA Employer including Vets and Disabled.

Qualified applicants with arrest and conviction records will be considered in accordance with legal requirements.

If you are a California resident, you may be entitled to certain rights regarding your personal information, which is information that identifies, relates to, or could reasonably be linked with a particular California resident or household. Additional information about our data collection practices and location specific notices is available on our privacy policy.

Job Description Summary:
Responsible for helping customers to achieve their mortgage financing goals. Consult with customer on their financing options, recommending appropriate loan products and obtaining permanent single family mortgage loans, home equity loans and lines of credit through the Bank. In this process, responsible for ensuring each loan meets quality and marketability requirements within the policies and guidelines of HomeStreet. Also consults with customers in evaluating other Bank products that meet the customer's financial needs. Provide the highest level of service in all interactions with customers.

Customarily and regularly engaged in business development and loan origination activities outside of the company premises. May occasionally work from the HomeStreet office to complete tasks in support of loan origination.

Job Details:

ESSENTIAL FUNCTIONS:

Meet with customers by phone or in person to recommend loan products and other services that are in the best interest of the customer, given the customer's financial status, goals, needs, etc. May include referrals to Retail Banking, Commercial Lending, Commercial Real Estate, Consumer Lending, Investment Services, Consumer Lending, and the Insurance Agency, where customer needs align.

Exercises discretion and independent judgment in comparing and evaluating possible lending products as well as other Bank products that suit the customer's financial situation. Originates the following types of mortgage products:

• Permanent single family (1-4) FHA, VA and conventional mortgage loans
• Home equity loans and lines of credit

Understand and maintain a thorough knowledge of various mortgage loan programs (FNMA/FHLMC, FHA/VA, etc.) and company products.

Manage the loan application process, in conjunction with the Loan Officer Assistant, if applicable, to assist customers in completing loan applications, collect information to be verified, identify additional information to be provided or obtained, and provide all disclosures and forms to customers as required by company policy. Take complete applications in accordance with HomeStreet's loan file workflow.

Input and upload loan applications on HomeStreet's POS (Point of Sale) system, within company guidelines.

Complete preliminary analysis of loans using HomeStreet's underwriting guidelines.

Input loan files in DU (Desktop Underwriter), or other designated underwriting systems utilized by HomeStreet, within company guidelines.

Negotiate loan terms and conditions on loans within Company guidelines. Responsible for all rate locks on loans originated, closed internally, or brokered to another lender. Work with the LOA, Processor, and Branch Manager to monitor locks and extend as necessary.

Advocate customer interests throughout the transaction as needed. Remain the primary point of contact between customer and bank, throughout the loan process. Maintain excellent communication with the customer. Work with the Post Closing dept. to obtain any needed post-closing documentation from the customer.

Perform a weekly file review with the assigned Processor of all loans in process, reviewing missing items still needed. Maintain excellent communication with the Processor and Funder.

Understand and comply with all applicable government regulations and cooperate with internal quality control and compliance programs.

Develop a strategy to maintain contact with customers after completion of the transaction, in order to provide assistance for additional and future financial needs.

Develop and implement a marketing strategy including (1) identifying potential sources of business through existing personal and community contacts and referral sources, including realtors, builders, financial advisors, attorneys, buyers, sellers and the general community; (2) meeting with potential business sources outside the office to develop and maintain these relationships; and (3) creating additional referral and customer networks in the community by participating in community events, professional organizations, etc.

Provide input to the Bank with respect to lending products, processes, pricing, marketing strategies and other aspects of the Bank's mortgage lending program.

Maintain data base through the use of Mortgage Returns or other automated data base management systems.

Participate in training programs as required by management.

Actively develop and maintain a good working relationship with and between all company staff, customers, and others involved in loan transactions.

Conduct business activities primarily outside of the office. Such activities may include making sales calls, negotiating deals, making commitments to close residential mortgage loans on behalf of HomeStreet, and performing other duties as needed to generate and bring sales to fruition. Occasionally work from HomeStreet's offices to complete tasks in support of loan origination, to attend staff meetings, to update the contacts database, etc.

REQUIREMENTS:

Minimum of three years experience as a Loan Officer in the local market with proven results preferred.

Experience with all mortgage loan types, including Conventional, FHA, VA, Brokered, Rehabs, One-Steps, Streamline and Rollover Refinances preferred.

Ability to review and analyze a customer's financial status, goals and needs, and recommend the appropriate loan product.

Excellent math skills, familiarity with basic pricing structures, rates and yields. Awareness of economic factors and their effect on loan terms.

Excellent communication skills, including phone, personal contact and written.

Ability to resolve problems effectively with dissatisfied customers.

Ability to work under high pressure deadlines with diplomacy.

Able to persuade customers, real estate agents, and attorneys in a professional manner.

Strong ability, desire and enjoyment in working with others as part of a team as well as work independently. Desire to serve and act in the best interest of the customer.

Knowledge of personal computers, desktop underwriting and loan application software required.

Possess good judgment, ability to accept responsibility and handle confidential information.

Good at problem solving, researching, and decision making.

Must be a self-starter, dependable, accurate in completing responsibilities.

Strong organization skills.

Able to accept and facilitate change whether indicated by corporate needs, market, or regulatory requirements.

As most business activities are conducted outside of the office, a valid driver's license, working vehicle and auto liability insurance are required.

MENTAL AND PHYSICAL CONSIDERATIONS:

• Willing and able to travel occasionally as needed.
• Operation of a Personal Computer and viewing information on a monitor.
• Must be able to sit for many hours each day.
• Must be able to communicate via telephone and possess dexterity to include filing documents, reaching and bending.
• May be required to stand for extended periods of time.
• Ability to lift or carry up to 20 pounds
• Ability to speak English and express ideas and have difficult conversations in person and over the telephone
• Ability to listen and comprehend speech.
• Ability to problem solve, make decisions, interpret data and information, read, write and organize information in an orderly manner.

WORK ENVIRONMENT:

• Normal business office environment.
• Ability to sit in artificial light for extended periods of time.

This Position Description may not be limited to the Functions and Requirements as outlined, now or in the future. For example, changes in corporate needs, position demands, or individual performance may result in changes to the Functions or Requirements of this position.

Area:
Residential (Sales)