The Mortgage Loan Originator interviews applicants applying for mortgage and home equity loans and examines,
evaluates and recommends approval of member applications for residential real estate loans.
Keeps everyone involved in the loan process updated and informed of the progress of the loan.

Essential Duties and Responsibilities include the following. Other duties may be assigned.

• Interview prospective borrowers, determine borrowers’ financial goals, and present

appropriate ECU product options so the member can make an informed decision.

• Maintain working knowledge of mortgage regulatory compliance. Including but not limited

to:

• Regulation Z –

o High - Cost Mortgages
o Higher Priced Mortgages
o Periodic Statement Requirements
o Adjustable-rate Disclosures and Requirements
o Ability to Repay
o Right of Rescission
Home Mortgage Disclosure Act (HMDA)
Regulation X
o Timely Escrow Payments and Treatment of Escrow Balances
o Error Resolution Procedures
o Requests for Information
o Force Placed Insurance
o Homeownership Counseling

• Regulation B – Equal Credit Opportunity Act

o Adverse Action
o Appraisal Delivery
Qualified Mortgages

• TILA RESPA
• Fair Credit Reporting Act/FACTA
• Equal Credit Opportunity Act
• Right to Financial Privacy Act
• Flood Insurance Notification
• Maintain expert knowledge of systems used in the mortgage process
• Maintain expert knowledge of ECU Mortgage products and services.

o ECU offers a variety of loan products including: FNMA, VA, FHA and USDA
products.
o ECU also provides a wide variety of specialty products, First Time Home Buyer,
Purchase Plus, Construction, Select, Home Equity/Home Equity Line of Credit and
Choice Loans to name a few.

• Discuss loan pricing and lock options
• Gather application data such as income, assets, sales contract, etc.
• Communicate clearly with members, realtors, mortgage staff, and any others associated with

the loan application and loan process.

• Enter personal and financial information in loan origination system and analyze applicant

financial status to determine feasibility of granting loan.

• Send application for denial or submit application to Disclosure Desk /Processing
• Maintain expert knowledge of the denial process, HMDA reporting, FACT Act Disclosure,

Statement of Denial, etc

• Review loan application and pertinent disclosures (loan estimate, closing disclosure, etc.)

with applicants.

• Compile loan package and discusses loan terms with applicant in accordance with ECU

guidelines and policies.

• Deliver loan package to Disclosure Desk in a timely manner (within 1 day of application)
• Confer with underwriter/processing to aid in resolving mortgage underwriting compliance
• Assist members/realtors with inquiries and information requests
• Inform loan applicant of credit decision
• Manages pipeline to insure timely loan processing and closing
• Promote and cross-service other ECU products and services as appropriate to member needs
• Continuing education – seminars and on-line training to stay abreast of changes in the

mortgage lending industry

• Team player. Ability to work well with all areas within mortgage department and ECU.
• Demonstrate exceptional attendance and punctuality practices.
• Other duties as assigned