Introduction to the Credit Union's Lending Policies
4
Completion of Compliance Training
5
Approval: Compliance Training Completion
6
Introduction to the Credit Union's Loan Origination System
7
Completion of Loan Origination System Training
8
Review of Loan Products and their Features
9
Training on Credit Risk Analysis and Management
10
Approval: Credit Risk Analysis and Management Training
11
Introduction to Anti-Money Laundering (AML) and Know Your Customer (KYC) Policies
12
Completion of AML and KYC Training
13
Training on Client Interaction and Customer Service
14
Approval: Client Interaction and Customer Service Training
15
Shadowing of Experienced Mortgage Loan Officer
16
Review of Loan Document Types and their Interpretations
17
Completion of Real-life Case Studies
18
Final Review with Supervisor
19
Approval: Final Review by Supervisor
20
Assignment of First Case
Introduction to the Credit Union and its Culture
Welcome to the Credit Union! In this task, you will be introduced to our organization and its culture. Gain insight into our values, mission, and vision. Understand how our culture shapes our work and impacts our members. What are the core values of the Credit Union? How do they align with your own values and goals? How can you contribute to our culture of excellence? Share your thoughts below.
Overview of the Mortgage Loan Officer Role
Get ready to dive into the Mortgage Loan Officer role! This task will provide you with a comprehensive overview of your responsibilities and the impact you will have on our members. Learn about the loan origination process, how to assess creditworthiness, and provide exceptional customer service. What aspect of the Mortgage Loan Officer role are you most excited about? What skills or experience do you bring to this role? Please share below.
Introduction to the Credit Union's Lending Policies
Understanding our lending policies is crucial for your success as a Mortgage Loan Officer. In this task, you will explore our lending policies, underwriting guidelines, and loan approval process. Familiarize yourself with our risk assessment procedures and regulatory compliance requirements. What steps can you take to ensure compliance with our lending policies? How will you balance risk management with meeting the needs of our members? Share your thoughts below.
1
Visual
2
Auditory
3
Kinesthetic
1
Loan-to-Value Ratio
2
Debt-to-Income Ratio
3
Credit Score Requirement
4
Loan Origination Fees
5
Interest Rate Adjustment
Completion of Compliance Training
Compliance is a top priority at our Credit Union. In this task, you will complete compliance training to ensure you understand and adhere to industry regulations and internal policies. Gain knowledge about consumer protection laws, fair lending practices, and privacy requirements. What potential challenges do you anticipate when it comes to compliance? What strategies will you implement to overcome these challenges? Share your thoughts below.
1
Fair Lending
2
Privacy Protection
3
KYC/AML Procedures
4
Consumer Protection Laws
5
Data Security
Approval: Compliance Training Completion
Will be submitted for approval:
Completion of Compliance Training
Will be submitted
Introduction to the Credit Union's Loan Origination System
This task focuses on introducing the Mortgage Loan Officer to the Credit Union's Loan Origination System. Familiarity with this system is essential for efficient loan processing. What are the main features and functionalities of the Loan Origination System?
Completion of Loan Origination System Training
In this task, the Mortgage Loan Officer is expected to complete the training on the Loan Origination System. This training will provide hands-on experience and empower the Mortgage Loan Officer to effectively utilize the system. How will this training benefit your loan processing efficiency?
Review of Loan Products and their Features
This task involves reviewing the various loan products offered by the Credit Union and understanding their features. A deep understanding of these loan products will enable the Mortgage Loan Officer to recommend the most suitable options to clients. What are the unique features of each loan product?
1
Competitive interest rates
2
Flexible repayment options
3
Quick approval process
4
Special discounts for certain professions
5
Conversion options
Training on Credit Risk Analysis and Management
This task focuses on training the Mortgage Loan Officer on credit risk analysis and management. Analyzing creditworthiness is a critical skill for a Mortgage Loan Officer. What are the key factors and tools involved in credit risk analysis and management?
Approval: Credit Risk Analysis and Management Training
Will be submitted for approval:
Training on Credit Risk Analysis and Management
Will be submitted
Introduction to Anti-Money Laundering (AML) and Know Your Customer (KYC) Policies
This task aims to introduce the Mortgage Loan Officer to the Credit Union's Anti-Money Laundering (AML) and Know Your Customer (KYC) policies. Complying with these policies is crucial to prevent fraudulent activities and ensure the safety of the Credit Union's operations. What are the key requirements and procedures of these policies?
Completion of AML and KYC Training
This task involves completing the training program on Anti-Money Laundering (AML) and Know Your Customer (KYC) policies. This training will enhance the Mortgage Loan Officer's knowledge and ability to identify potential money laundering activities and verify customer identities. How will this training contribute to your ability to detect and prevent money laundering activities?
Training on Client Interaction and Customer Service
This task focuses on training the Mortgage Loan Officer on effective client interaction and exceptional customer service. Building positive relationships with clients is essential for success in this role. What are the key strategies and skills for effective client interaction and customer service?
Approval: Client Interaction and Customer Service Training
Will be submitted for approval:
Training on Client Interaction and Customer Service
Will be submitted
Shadowing of Experienced Mortgage Loan Officer
This task involves shadowing an experienced Mortgage Loan Officer to observe and learn from their day-to-day activities. This hands-on experience will provide valuable insights and guidance for the Mortgage Loan Officer's future tasks. What are the main activities and skills you aim to learn from this shadowing experience?
Review of Loan Document Types and their Interpretations
This task involves reviewing the different types of loan documents and understanding their interpretations. Proper interpretation of loan documents is essential to ensure accurate loan processing. What are the main loan document types and their primary interpretations?
1
Promissory note - Agreement to repay the loan
2
Deed of trust - Legal document securing the loan with property
3
Loan application - Information about borrower and loan request
4
Closing disclosure - Details of the final loan terms and costs
5
Title insurance - Protection against losses arising from ownership disputes
Completion of Real-life Case Studies
In this task, the Mortgage Loan Officer will complete real-life case studies to test their knowledge and decision-making skills. Case studies provide practical experience and help prepare for real-world scenarios. How will completing these case studies enhance your ability to handle complex loan situations?
Final Review with Supervisor
This task involves a final review session with the supervisor to discuss and evaluate the Mortgage Loan Officer's onboarding progress. This feedback session ensures that the Mortgage Loan Officer is ready to independently handle their responsibilities. What specific aspects of your onboarding progress would you like your supervisor to review and provide feedback on?
Approval: Final Review by Supervisor
Will be submitted for approval:
Final Review with Supervisor
Will be submitted
Assignment of First Case
In this task, the Mortgage Loan Officer will be assigned their first case to independently handle. This is a significant milestone that tests their acquired knowledge and skills. What challenges do you anticipate in handling your first case, and how do you plan to overcome them?
