Purpose

The Loan Officer III is a senior-level lending professional who serves as a liaison between members and the credit union, delivering high-quality service and expert financial guidance. This position is responsible for interviewing members, originating and underwriting consumer and real estate loans, preparing and processing loan documents, and handling DMV title and lien activities. The Loan Officer III also plays a key compliance and documentation role and is registered by the credit union as a Mortgage Loan Originator (MLO) in accordance with SAFE Act requirements.        

Organizational Standards

An energetic, self-motivated, enthusiastic, “team player” to represent our credit union with members, prospective members, other staff and the community of Downey; while exercising sound business judgment, maintain a professional appearance and displaying a positive attitude.

Primary Responsibilities

• Conduct member interviews to assess financial needs and recommend appropriate credit union products and services.
• Guide members through the loan application process, ensuring timely and accurate collection of necessary documents.
• Analyze credit reports and financial data to identify lending opportunities and mitigate risk.
• Provide professional explanations for loan denials and offer alternative solutions where appropriate.
• Underwrite consumer and real estate loans within authorized limits, ensuring adherence to internal policies and external regulations.
• Verify loan terms, prepare accurate documents, explain loan agreements, and secure required member signatures.
• Fund loans in accordance with credit union guidelines and approved stipulations.
• Originate, process, and fund real estate loans offered by the credit union.
• Perform MLO duties in compliance with the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act.
• The credit union will register the employee as a Mortgage Loan Originator upon hire.
• Prepare and submit title applications to the California DMV.
• Ensure lien perfection for all secured auto loans and address discrepancies with members, dealerships, and DMVs.
• Process lien releases in compliance with California regulations once loans are paid in full.
• Ensure compliance with federal and state lending regulations, including BSA, AML, and OFAC requirements.
• Maintain organized, accurate records related to loans, titles, liens, and member interactions.
• Prepare and support audit responses and maintain detailed tracking reports.
• Coordinate with internal departments (lending, collections, compliance) to ensure smooth loan processing.
• Communicate with third-party vendors, DMVs, and dealerships as necessary.
• Promote a retail sales environment and support marketing efforts and community outreach.
• Ensure full compliance with all credit union policies, the Bank Secrecy Act (BSA), OFAC, AML, and related financial regulations.
• Assist in gathering documentation for CTRs and other reporting requirements.
• Performs all other related duties as requested by management.

Minimum Job Requirements

• High school diploma or equivalent required; post-secondary education preferred.
• Minimum of 2 years in consumer and real estate loan underwriting.
• Minimum of 2 years in credit union or financial institution lending.
• Knowledge of title and registration processes, especially within California DMV guidelines.
• Bilingual (Spanish) highly preferred.
• Must be bondable.
• Employees will be registered by the credit union as a Mortgage Loan Originator (MLO) in compliance with the SAFE Act.
• California Notary Public commission required (or willingness to obtain, with credit union support).
• Strong verbal and written communication skills.
• Excellent analytical and problem-solving ability.
• Proficient with Microsoft Office (Word, Excel).