Community Reinvestment Act (CRA) Loan Officer

Job Type Full-time Description

SUMMARY

The Community Reinvestment Act Loan Officer is responsible for representing Dedham Savings as & Community Reinvestment Act Loan Officer in the Dedham Savings and South Shore Bank Community Reinvestment Act Assessment Area, with the major goal of assisting the Bank in meeting its CRA and Fair Lending goals. Establish and maintain relationships with realtors, housing authorities, and non-profit agencies to establish referral networks for mortgage loans, with a focus on low-to-moderate income (LMI) and minority borrower, and census tracts. Work with prospective customers to assist them in identifying and securing mortgage loans and down payment assistance programs which are appropriate for their financial circumstances and are designed to help them achieve their homeownership goals. Responsible for administering the loan origination process under the policies and procedures of the Bank. Responsible for attracting and gaining new loan prospects and referral sources. Bilingual preferred – English and Spanish/Portuguese.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Originate quality mortgage loans secured by 1-4 family properties with a focus on LMI and minority borrowers, according to the Bank’s loan policies and procedures. Meet and reach out to local realtors, housing authorities, and non-profit homebuyer counseling organizations to establish relationships and referral sources for mortgage loans. Conduct regular meetings with realtors and housing authorities on-site, at open houses, and first-time homebuyer seminars and events to assist the Bank in identifying new CRA products. Regular use of social media platforms as a means of obtaining loan referrals Regularly seek opportunities to meet with new housing agencies and non-profit agencies to discuss first-time homebuyer programs. Develop referral sources to meet production targets for Low-to-Moderate Income (LMI) and minority lending goals. Attend and participate in CRA working groups and other meetings held as required by management. Coordinate efforts with Compliance Department to represent the Bank in CRA initiatives, such as First-time homebuyer seminars and webinars, which help achieve our CRA goals. Assist with lead generation for small business, commercial real estate, and community development loans in the 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 the property and similar information. Identify customers’ needs in conjunction with their financial situation and evaluate these needs with available financial products. Recommend the financial products that best meet the customer's specific needs; advise the customer about the risks and benefits of the loan alternatives, including the options and advantages involved; recommend terms and conditions of mortgage loans. Follow the existing loan pipeline to ensure conformity with terms. Ensure documentation is completed under regulatory compliance. Communicate with the customer on an ongoing basis to ensure they remain informed and aware throughout the process. Communicate with attorneys, appraisers, and other vendors to ensure a timely and efficient process, creating an exceptional customer experience. Collaborate with management to develop and maintain strong, mutually beneficial business relationships. After successful registration with the National Mortgage Licensing System (NMLS) and issuance of a valid NMLS ID, maintain active registration status with proper annual renewal, in compliance with the S.A.F.E. Act. Maintain extensive knowledge of the Bank’s policies and procedures; maintain strong knowledge of real estate lending practices and related areas. Complete all internal Bank training as assigned and required. Adhere to the Bank’s privacy and data security policies including but not limited to safeguarding of sensitive information and complying with relevant regulations to protect non-public information. Exhibit the ability and desire to embrace and enhance the Bank culture. Consider this description to be the foundation of your job, not its boundaries. Expect to participate in internal and external training sessions and activities not described here which enhance the quality of service to the client.

SUPERVISORY RESPONSIBILITIES

None Requirements

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. EDUCATION and/or EXPERIENCE Associate’s degree or its equivalent through specialized coursework and training. Five – ten years of sales experience within a lending environment. Strong sales ability. Good working knowledge of residential lending. Excellent communication and organizational skills. Knowledge of mortgage guidelines (FNMA/FHLMC/MHFA). Excellent communication skills and personality oriented toward sales. Ability to organize time and work independently and to cooperate as a team member. Knowledge of HMDA and CRA regulations. Knowledge of lending, deposit, and/or operations compliance preferred. Prior experience reviewing transactions and filing documentation for compliance with applicable regulations.

SKILLS

Basic knowledge of the banking and financial services industry including federal laws and regulations Willingness to gain new knowledge and technical skills. Intermediate typing skills to meet the production needs of the position. Intermediate math skills: the ability to calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply, and divide into all units of measure, using whole numbers, common fractions, and decimals; locate routine mathematical errors; compute rate, ratio, and percent, including the drafting and interpretation of bar graphs. Exceptional verbal, written, and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, train personnel, read, analyze, and interpret documents and professional journals, understand procedures, write reports, correspondence, and procedures, speak clearly to customers and employees.

PHYSICAL DEMANDS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this Job, the employee is regularly required to sit and talk or hear. The employee is occasionally required to stand, walk; use sufficient hand, arm and finger dexterity or feel objects, tools, and controls. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision.

WORK ENVIRONMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.

KEY POINTS

At Dedham Savings, we believe that being here for the journey means supporting our clients in a friendly and professional manner every day. While our employees are committed to helping our clients, we are committed to our employees. After all, we wouldn’t have made it for nearly 200 years as a local neighborhood bank without them! To support our employees, we offer a competitive benefits package with Medical, Dental, Vision, Flexible Spending, Tuition Reimbursement, Childcare Subsidy Reimbursement, Retirement, Life Insurance, and many other benefits. Dedham Savings is committed to providing equal opportunity for all employees and applicants without regard to race, color, religion, gender, sexual orientation, age, marital status, national origin, physical or mental disability, veteran or disability status, gender identity, or expression, citizenship, genetic information, ancestral origin, military status, pregnancy, childbirth, and or conditions relating to pregnancy or any other related medical conditions or any other status protected by Federal, State or local laws. Here at Dedham Savings, we strive to foster a culture where every voice is valued and where employees have a sense of belonging and connection with each other. We are dedicated to creating a work environment that understands, supports, and welcomes diverse perspectives and backgrounds. Together, we will create an inclusive and culturally competent and supportive environment where employees model behavior that enriches both Dedham Savings and the communities we support.

PAY RANGE DISCLOSURE

The pay range for this position is $50,000.00 base salary per year plus commission, and is the lowest to highest salary Dedham Savings in good faith believe we would pay for this role at the time of this posting. The Bank may ultimately pay more or less than the posted range, and the range may be modified in the future. An employee’s pay position within the salary range will be based on several factors including, but not limited to, relevant education, qualifications, experience, sales or revenue-based metrics, and business or organizational needs and affordability. #J-18808-Ljbffr Dedham Sa