Loan Workout Officer jobs in Cedar Rapids, IA

POSITION SUMMARY:

Creates, collects, analyzes, exercises judgment and advises members on mortgage loan options. Proactively seeks new business and builds pipeline. Maintains organization of portfolio and meets necessary and regulatory deadlines. As this position is 100% commission, significant time calling on prospective members and referral sources is essential.

GREENSTATE CULTURE:

At GreenState, we exist to create lasting value for those we serve. We do this by putting immense value into our employees, members and communities. We empower our employees to create endless opportunities, which will then impact the lives of our members and enhance the vitality of our communities.

Performs essential duties and responsibilities in the following areas which may include, but are not limited to those listed and are subject to change.

1. Adheres to the Credit Union's core values and Service Standards in carrying out GreenState's mission and vision.
2. Demonstrates a positive member service (internal and external) focus at all times, greeting members and guests with a smile and eye contact immediately upon their arrival, using their name or acknowledging them, and thanking them for their business.
3. Demonstrates teamwork in all interactions with coworkers and in the completion of all duties and responsibilities.
4. Ensures confidentiality of member information.
5. Supports a diverse and inclusive work environment.
6. Plays a vital role in enriching the community by participating in community service organizations and/or Credit Union sponsored events on an annual basis.
7. Explains the mortgage loan application process and products to the membership. Services by phone or in person the need for answers to inquiries pertaining to mortgage rates, mortgage programs, payments, daily rates, points, etc.
8. Conducts mortgage loan application interviews assisting applicants in the completion of application.
9. Gathers all required applicant information, including collecting, analyzing and advising members on best options to assure proper processing.
10. Reviews applications, exercises judgment and renders loan decision for pre-approval/denial.
11. Works with Underwriters in meeting their guidelines and obtaining loan approval.
12. Is responsible for ensuring that all necessary documentation is in the loan files, including regulatory compliance items.
13. With this position, it is customary to make regular outside sales calls to both prospective members and referral sources. Building relationships with realtors, builders are others that interact with the financial industry is crucial to ensure the ability to hit specific production targets. This may include such things as office calls, lunches or evening receptions as a way to generate future loan prospects. Most of such calls will take place outside of the employee's place of business many of which may extend outside normal work hours.
14. Works with mortgage processing department when necessary to ensure final documentation is received by the investors in a timely manner.
15. Assists to ensure that the various federal reporting documents are delivered in a timely manner, to include the borrowers 1098, sellers 1099, interest reported to the IRS, and the HMDA report.
16. Assists in any necessary training and development needed within the GreenState Mortgage Loan department.
17. Adheres to all state, federal and credit union regulations, policies and guidelines.
18. Coaches, trains, and mentors Mortgage Loan Sales Associates.

JOB REQUIREMENTS:

1. High school diploma or equivalent (i.e., GED.) with five years of previous mortgage experience.
2. Knowledge of procedures, forms, secondary market guidelines and regulations as they relate to mortgage lending.
3. Knowledge and procedures of Real Estate purchasing and refinancing.
4. Ability, availability, and willingness to work flexible hours to accomplish workload. During periods of peak demand and at other times, job will require a non-traditional workweek with extra hours including evening and/or weekend duties.
5. Ability and willingness to network in the community. This is essential to build potential member base as well as referral sources for future business.
6. Ability to prioritize assignments and organize work efficiently, to handle large volumes of details.
7. Interpersonal skills to represent the credit union in a positive way during member contact.
8. Excellent figure aptitude.
9. Accuracy and attention to detail required.
10. Ability to operate related computer applications.
11. Ability and desire to call on the Realtors and make sales marketing presentations.
12. Ability to deal tactfully and efficiently with members and co-workers on a professional level.
13. Must be bondable.
14. Must be registered pursuant to requirements of the S.A.F.E. Act.

PI239490652