AVP, Mortgage Originations
Position Number: AVP, Mtg Ori
Location: San Jose, CA
The AVP Mortgage Origination is responsible for cultivation and maintenance of a contact network for 1st Mortgage sales through a variety of sources. During the application, approval and funding process the incumbent will provide relevant information and guidance to the member. The incumbent will follow-up on new 1st Mortgage referrals from any source and meet assigned sales objectives for the mortgage loan products.
Prepares for Selling
Knowledge of the Market
Can discuss thoroughly: Competition and their location ; their primary products and services; their major strengths and limitations; their pricing arrangements, fees, and rates; their major marketing strategies; national and local economic and real estate trends in order to anticipate demand for mortgage and real estate construction loans.
Knowledge of Technology Credit Union Products
Maintains appropriate technical understanding of residential & apartment mortgage loan products: Features of available fixed- and adjustable-rate mortgage loans; steps and time schedules required to move a loan from the origination stage to closing; inside and outside resources; involved in the residential & apartment lending; process; documents required for a complete loan package.
Can explain underwriting guidelines/regulations, federal/state laws and regulations governing the mortgage industry and comply with these rules throughout the loan process.
Can articulate Technology Credit Union’s major strengths and limitations as compared to the competition. Actively promotes the image and philosophy of Technology Credit Union.
Sales and Call Planning Skills
Sets long-range sales objectives for prospects and develops action plans.
On a regular schedule visits and cultivates business relationships with realtor organizations, title companies, chamber of commerce and other business associations identifying new 1st mortgage business.
Uses Consultative Sales Skills
Establishes rapport, detects and defines client needs, explains solutions, recommends action, handles resistance in a consultative manner, negotiates discount points/fees within authorized guidelines and responds positively to client resistance.
Identifies opportunities to refer members/clients to other areas of the credit union for additional sales opportunities. Personally arranges for service with other employees on the member's behalf when appropriate; and escorts members to meet other employee.
Maintains a referral program through our financial centers.
Conducts meetings to train Financial Center Managers, and staff on the origination process and mortgage products.
Member Follow-up Skills
Acts as primary member contact regarding progress of 1st Mortgage loan until client’s loan is funded.
Responds to request for information on a timely basis.
Responds to and resolves member complaints on a timely basis.
Implements details of sales promptly and accurately.
Follows up and keeps commitments made to members and other credit union personnel. Follows through and makes certain the product/service referral is effective and satisfactory to the member.
Maintains and cultivates a contact network via cold calls to local realtors, title companies, chamber of commerce and other business associations.
Maintains a referral and information network of local realtors, attorneys, and other real estate professionals.
Develops contacts through participation in local service clubs, professional organizations, and community activities.
Regularly updates contacts on mortgage products, rates and programs.
Information Gathering, Analysis and Evaluation
In conjunction with the client/member completes Mortgage Loan Application at the financial center, members workplace or home. Obtains information necessary for application analysis.
Incorporates good due diligence/investigation habits in verifying all information. Gathers documents required for completion of loan package.
Evaluates borrower's qualifications with consideration to Technology Credit Union’s standards and the standards established by the secondary market.
Competently calculates math formulas used in the mortgage origination process.
Can explain the interrelationship of all-basic analysis and underwriting factors.
Can make logical loan recommendations.
Involves other credit union resources as appropriate. Communicates with outside providers regarding borrower information accurately and in a timely manner.
Clearly communicates decisions to clients/members in the manner established by Technology Credit Union. Makes certain that the rights of the borrower are protected in the credit decision process.
Sales and Service Administration
Plans and schedules client/member interviews for efficient use of time.
Maintains current sales literature and sales tools in appropriate quantities.
Maintains complete and accurate logs and files on 1st Mortgage loan origination activity.
Provides prompt sales calls and expense reports to management.
Handles internal and external correspondence promptly.
Reports progress to manager on personal action plans according to schedule.
Keeps abreast of changes and trends related to responsibilities by regular reading of professional and other relevant publications.
On a periodic basis makes presentations to clients, realtors, members, etc. regarding TechCU mortgage loan products. The incumbent will also take an active role in the Home Buyers Seminars which the credit union holds periodically.
Supports the Credit Union’s Mission & Vision and Lives the Tech CU Values (Accelerate, Collaborate, Innovate, & Cultivate).
Meets on a monthly basis with manager to discuss goal alignment, performance metrics, and development plans.
Adheres to Policy & Procedure put forth in employee handbook; upholds employee Code of Conduct/Ethics, and ensures confidentiality of the workplace.
The employee will comply with all rules and regulations as defined by applicable regulatory agencies. The employee will also adhere to all internal controls and security measures designed to ensure regulatory compliance with State and Federal laws.
Typically has at minimum:
Education: BS/BA or equivalent experience. Courses in related business areas necessary to maintain position proficiency.
Experience: 2 to 3 years' increasingly responsible experience in related disciplines, including exposure to 1st Mortgage products, policies and procedures, loan interviewing and disbursement in a credit union or other financial institution.
Ability to lift 10 lbs. Push or pull a luggage cart 1 city block. Walk/stand 70% of the day. Sit 30% of the day (40% of this at Keyboard/reading computer screen and 60% of this talking/listening on telephone). Get into and out of a motor vehicle approximately 5 times each day.
Knowledge/Skills: Possess analytical, presentation, organizational, and problem resolution skills. Awareness of 1st Mortgage loan products, applications, rules, regulations, policies and procedures. Knowledge of 1st time Home Buyer programs. Secondary Market Underwriting (G.S.E.) and/or Investor Loan products a plus. Knowledge of managing Mortgage loan applications through an automated system. Solid PC skills, a valid California Drivers License and current automobile insurance are required. The incumbent must work well in a team environment.
Professional: Achieves a Real Estate Salesperson License within first 12 months in this role. Exposure to or participation in any of the following real estate professional organizations: SCCOAR, SAM-CAR, SILVAR, WCR, BAY EAST Association of Realtor and any other associations deemed necessary.
Travel: Holds a valid & clear California Drivers’ License. Possess current automobile insurance. Willingness to drive one’s own auto to conduct Credit Union business. Applicable IRS mileage reimbursement rate will be provided for business/credit union approved business travel within Bay Area Counties: Alameda, Contra Costa, Santa Clara, Santa Cruz, San Francisco and San Mateo counties.