Job Title: Mortgage Loan Officer – Home Equity
Department: Mortgage
Reports To: Mortgage Manager
FLSA Status: Non-Exempt
Grade: 8
Summary
The Mortgage Loan Officer originates real estate-secured loans, specializing in Closed-End Home Equity Loans and Home Equity Lines of Credit (HELOCs), in accordance with applicable federal and state regulations and established organizational lending policies and procedures. This position guides applicants through the lending process, evaluates financial information, ensures accurate documentation, and coordinates with internal mortgage staff to facilitate timely and compliant loan decisions and closings.
Essential Duties and Responsibilities
- Promptly manage, respond to, and follow up on incoming home equity loan and HELOC leads, providing prospective borrowers with timely communication and guidance throughout the loan process.
- Interview loan applicants to understand their financial needs and explain available home equity products, terms, and financing options to support informed lending decisions.
- Collect and review required credit, income, asset, and property documentation; evaluate applicants' financial circumstances and credit history to assess loan feasibility and prepare complete applications for underwriting.
- Prepare and deliver initial disclosures, obtain required signatures and authorizations, and explain applicable loan terms, fees, closing costs, and documentation requirements in accordance with regulatory and organizational requirements.
- Submit complete loan applications to the Mortgage Specialist for processing and coordinate with internal partners to facilitate timely loan progression and closing.
- Communicate loan rates, rate-lock requirements, and financing alternatives; work with applicants to resolve questions, documentation issues, and discrepancies identified during the lending process.
- Communicate loan decisions to applicants, including approvals, denials, and outstanding conditions, in a professional and timely manner.
- Develop and maintain productive relationships with referral sources, including branch personnel, MRC and eBranch personnel, real estate professionals, builders, mortgage companies, and other affinity groups, to generate mortgage and home equity lending opportunities.
- Maintain required NMLS licensing and continuing education and comply with applicable SAFE Act requirements.
- Verify member and customer identification and ensure required Customer Identification Program (CIP) information is complete and accurately maintained, as applicable.
- Perform required Office of Foreign Assets Control (OFAC) screening and review applicable accounts, loans, and transactions for potential compliance concerns.
- Promptly report suspicious activity and other potential compliance concerns to the Risk Management Department through established reporting procedures.
- Maintain knowledge of and comply with applicable lending, regulatory, and organizational requirements.
- Other duties as assigned
Success in This Role
Success in this position requires strong relationship-building and communication skills, sound financial judgment, attention to detail, and the ability to manage multiple loan applications while maintaining a high level of service and regulatory compliance. The Mortgage Loan Officer must be able to explain complex financial information clearly, collaborate effectively with internal teams, and guide applicants confidently through the home equity lending process.
Qualifications
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience
- Experience- 2 to 5 years related experience
- Education- 2-year college degree or completion of specialized course of study OR 5 years related experience
Certificates, Licenses, Registrations
Mortgage License System number preferred
Pursuant to the SAFE Act policy, you must register and maintain a status in good standing. Failure to register
successfully or to maintain a status in good standing under the SAFE Act will affect your eligibility for
continued employment and may result in your immediate termination.
- I will not act as an MLO for Rio Grande Credit Union until I have received notification from the NMLS Registry that I have been registered and I have forwarded said notification to the Human Resources Department.
- If at any time I allow my NMLS registration to lapse, I will not be allowed to act as a MLO until the registration has been completed.
Physical, Mental and Working Requirements
This position requires the ability to perform primarily sedentary office work, operate standard office equipment, and use a computer for extended periods. Must be able to communicate effectively, follow instructions, manage multiple priorities, and maintain professionalism under deadlines. Work is performed indoors in a climate-controlled environment. Occasional extended hours or off-site travel may be required. Regular attendance and the ability to handle confidential information are essential.
Rio Grande Credit Union is an Affirmative Action and Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.
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