Loan Officer

Jobs › Stoughton, MA › Loan Officer Stoughton Co-Operative Bank Loan Officer Stoughton, MA Apply This position reports to the President of the Bank. The Loan Officer is responsible for the management and coordination of residential and consumer/commercial lending (originations, underwriting, and processing/closing), loan servicing and collections. This position\'s primary responsibility is the origination of all loans while ensuring Bank policies and procedures are adhered to and in compliance with all applicable Federal and State regulations and in accordance with the Bank\'s strategic plan. This is a \"hands-on\" position. Duties

• Primary contact for all lending inquiries from customers. Review individual scenarios and make recommendations. Take applications and perform pre-qualifications, answer customer questions relating to products and programs. Advises First Time Homebuyers on the homebuying process
• Provides leadership, coaching, direction, and supervision to direct reports within loan department and directly handles loan collections.
• Actively participates in conjunction with the President and Bank ALCO committee to develop and generate residential and consumer marketing strategies. Continuously enhancing the customer experience through new products/services and more efficient processes.
• Develops and fosters effective industry relations, including but not limited to homebuilders, real estate professionals, condominium associations, industry/market stakeholders and other business development contacts.

Represents the Bank in various community, civic and community reinvestment functions to further enhance the Bank\'s image while developing, establishing, and maintaining market position.

• Responsible for review and preparation of appropriate information for residential/commercial and consumer loan analysis and setting conditions and terms of residential/consumer/commercial loan requests including approvals, declinations, returns or alternate loan programs.

Reviews residential/consumer/commercial loan packages for compliance with Federal, State, and secondary market/investor guidelines.

• Manages, reviews, and oversees the Bank\'s secondary market function (Freddie Mac, Federal Home Loan Bank).

Ensures investor quality loan packages, takes out investor contracts, delivers loans according to specific investor requirements, ensures funding is received and communicates sale to the loan servicing department. Keeps abreast of secondary market investor requirements and pricing to assist in mortgage sale decisions. Monitors competition and develops/recommends interest rate schedules.

• Keeps informed of all laws, regulations, developments and trends in residential, commercial and consumer lending and maintains expertise in internal policies and procedures to continually identify opportunities to improve the efficiency and effectiveness of the teams.

Recommends revisions to loan policies and procedures for approval by the Board or Directors. Maintains adequate internal controls and ensures procedures/task lists are kept to date.

• Acts as primary liaison with regulators and auditors relative to lending.
• Primary liaison with specified vendors supporting the Bank\'s lending technology. Responsible for resolution of system issues. Maintains rates on website to ensure functionality, accuracy of disclosure and regulatory compliance. Takes the lead on new projects and provides leadership and guidance when delegating to direct reports.
• Responsible for monitoring for a variety of reporting (i.e., Loan Policy Exceptions, Loan Document Exceptions, production, pipeline status, commitments, etc.) to support management decisions regarding loan sales and to comply with audit and examination requests.
• Responsible for the preparation and monitoring of the year-end HMDA Reporting.

Submits LAR to appropriate regulatory body within required periods.

Qualifications:

• Bachelor\'s Degree in business administration or another relevant field; or equivalent experience;
• Five (5) years minimum of relevant experience Active Filters Loan Officer Stoughton, MA Clear All Apply