Represent Needham Bank as Vice President & Community Reinvestment Act Loan Officer in targeted territories with major goal of assisting bank in meeting both CRA and Fair Lending goals as outlined in CRA & Fair Lending Business plan. Establish and maintain relationships with realtors, housing authorities, and non-profit agencies to establish referral networks for mortgage loans, with focus on low and moderate income (LMI) and minority borrowers, and census tracts. Work with prospective customers to assist them in identifying and securing mortgage loans that are appropriate for their individual financial circumstances and are designed to help them achieve their home ownership goals. Responsible for administering the loan origination process in accordance with the policies and procedures of the Bank. Responsible for attracting and gaining new loan prospects and referral sources.
Essential Duties & Responsibilities
Meet and reach out to local realtors, housing authorities and non-profit homebuyer counseling organizations in order to establish relationships and referral sources for mortgage loans
Conduct regular meetings with realtors and housing authorities on-site, at open houses and at first time homebuyer seminars and events to assist the Bank in identifying new CRA products
On a regular basis, seek opportunities to meet with new housing agencies and non-profit agencies to discuss first time homebuyer programs
Attend and participate in all CRA working groups and other meetings held as required by management
Coordinate efforts with Compliance Department to represent the Bank in CRA initiatives which help achieve our CRA goals
Assist with lead generation for small business, commercial real estate, and community development loans in assessment area
Interview applicants to obtain and analyze required mortgage application information, including income, assets, investments, debt, credit history, prior bankruptcies, judgments, and liens, as well as characteristics of property and similar information
Identify customer's needs in conjunction with customer's financial situation and evaluate those needs in relation to available financial products
Recommend the financial products which best meet the customer's specific needs after advising customer about the risks and benefits of the loan alternatives, including the options and advantages involved; recommend terms and conditions of mortgage loans
Follow existing loan pipeline to ensure conformity with terms
Ensure documentation is completed in accordance with regulatory compliance
Communicate with the customer throughout the process on an ongoing basis to ensure the customer understands the process
Originate quality mortgage loans secured by 1-4 family properties with focus on LMI and minority borrowers pursuant to the Banks loan policies and procedures
Communicate with attorneys, appraisers and other vendors to ensure a timely and efficient process and customer satisfaction
Collaborate with management to develop and maintain strong mutually beneficial business relationships
Perform additional duties as requested, needed or assigned
Required Experience
JOB REQUIREMENTS
Requires successful registration with, and issuance of a valid NMLS ID in compliance with the S.A.F.E. Act
Extensive knowledge of financial institution policies and procedures
Strong knowledge of real estate lending practices and related areas
Good working knowledge of consumer lending regulations, with excellent understanding of CRA and Fair Lending guidelines
Knowledge of department support structures, resources and personnel
Strong analytical skills and decision-making ability
Strong sales, managerial and interpersonal skills
Knowledge of secondary market practices, underwriting procedures, lending laws and procedures for real estate lending
Strong organizational, communication and public relations skills particularly in working with documentation that requires special handling
Ability to build strong relationships and alliances across the organization; ability to adapt to change; ability to multi-task; reliable and highly self-motivated
Superior customer service skills; exceed customers expectations
Fluent written and verbal English communication skills
Proficient in Microsoft Office suite; MS Excel, MS Word and Outlook
Familiarity with Mass. Housing and MHP guidelines and procedures required.
Ability to adhere to Needham Banks Core Values (Focus on Customer Relationship, Embrace Change, Work as a Team, Be an Asset to Your Community, Always Learn, and Do the Right Thing)
Education & Experience
Bachelor Degree in business or finance; or
3 or more plus years experience in mortgage and secondary market underwriting
Established relationships with Realtors preferred
Experience with Housing Authorities and First Time Homebuyer programs required.
WORKING CONDITIONS/PHYSICAL DEMANDS
Normal business office environment
Needham Bank offers a competitive salary and an amazing benefit package for a full-time employee which includes fully paid medical and dental insurance, HRA, 401(k) plan with an 8% bank match, paid time off (PTO), paid holidays, a bonus program, flexible spending accounts, vision service plan, group term life insurance, short and long term disability insurance, tuition reimbursement, and an Employee Assistance Program. We offer a great benefit package to our eligible part-time employees as well.
At NB, we are dedicated to building a diverse, inclusive and authentic workplace - if you are excited about this role, but your past experience doesnt align perfectly with every qualification in the job description, we still encourage you to apply. You may be just the right candidate for this or other roles.
Needham Bank is an Equal Opportunity/Affirmative Action Employer. Needham Bank will provide all applicants for employment and all employees with equal opportunity for employment and promotion regardless of race, color, religion, gender, national origin or ancestry, age, disability, veteran status, military service, sexual orientation, genetic information, or gender identity.
Keyword: Mortgage Loan Originator
Seniority level
Mid-Senior level
Employment type
Full-time
Job function
Research, Analyst, and Information Technology
Industries
Banking
Referrals increase your chances of interviewing at Needham Bank by 2x