Community Development Loan Officer oversees the bank's CRA Programs and policies to ensure compliance with federal Community Reinvestment Act banking regulations to meet the credit needs of the area's low to moderate-income populations. Serves as the subject matter expert of CRA laws, rules, and regulations by maintaining a deep and up-to-date knowledge of regulatory requirements, proposed legislation, and announcements. Being a Community Development Loan Officer reviews and analyzes lending activity data and practices to ensure compliance with CRA policies. Develops, implements, and administers the overall corporate CRA plan and localized or remedial plans with guidelines and standards to assist with compliance. Additionally, Community Development Loan Officer advises management and coordinates with legal staff on the potential impact of actions. Coordinates and delivers reports to bank leadership and regulatory agencies. Ensures the bank has a positive and visible role in community economic development activities, events, and initiatives. Requires a bachelor's degree or equivalent. Typically reports to a director. The Community Development Loan Officer work is generally independent and collaborative in nature. Contributes to moderately complex aspects of a project. To be a Community Development Loan Officer typically requires 4 -7 years of related experience. (Copyright 2024 Salary.com)
FUNCTION:
Originates real estate mortgages by sourcing prospective customers and proactively solicits new residential mortgage business. Continually identifies, develops and maintains a quality network of referral sources to generate mortgage sales to meet quarterly loan quality and production goals. Visits local Realtors, builders, accountants and utilizes available lead referral sources to identify prospects to obtain their individual sales results.
RESPONSIBILITIES:
3) Visits local Realtor’s, attorneys, accountants and other centers of influence in addition to using lead referral sources to facilitate the MLO’s mortgage sales efforts
4) Originate mortgage applications in adherence to company and investor program and pricing guidelines
Knowledge/Skills/Experience Requirements:
Employee must have an NMLS license or obtain and maintain a license as a condition of employment.
2 years of recent mortgage loan origination or similar sales background
College degree preferred
Excellent business acquisition and customer service skills and the ability to develop and maintain quality client relationships
Knowledge of conventional and government lending requirements
Knowledge of mortgage processing/underwriting/closing requirements
Knowledge of federal and state regulations concerning real estate lending
Solid time management skills including the ability to prioritize workload
Knowledge of Microsoft Office Products.
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