CRA Loan Specialist

Fifth Third Bank • Wausau, WI

13d

About The Position

The CRA Loan Specialist performs a wide range of duties relating to originating residential first mortgage loans for branch offices and outside referrals. The role focuses on selling CRA products and services to low- and moderate-income individuals and areas, as well as nonprofit organizations, and assumes responsibility for residential mortgage loans from application through closing. The specialist is expected to meet management-defined mortgage sales and cross-selling objectives while following bank policies and procedures, managing risk, and supporting a positive customer experience.

The position develops CRA prospects and referral relationships, maintains knowledge of mortgage products and procedures, and conducts or coordinates homebuyer-training seminars for potential CRA applicants. It also involves taking and processing applications, collecting documentation, managing loans through closing, communicating progress to applicants and referral sources, and completing required reports. SAFE Act registration through the Nationwide Mortgage Licensing System is required at employment.

Requirements

• High school diploma or equivalent.
• Knowledge of conventional and/or government lending guidelines.
• Knowledge of residential mortgage processing, underwriting, and closing procedures.
• Knowledge of federal lending regulations governing real estate lending.
• Demonstrated organizational skills.
• Strong written and verbal communication skills.
• Demonstrated teamwork and customer service skills.
• Proven computer skills.
• Basic sales technique skills.
• Strong desire to excel in a competitive environment.
• SAFE Act registration through the Nationwide Mortgage Licensing System at the time of employment.

Nice To Haves

• Four-year college degree.

Responsibilities

• Develop CRA prospects and referral contacts, including realtors, builders, and professional and personal contacts.
• Maintain knowledge of Fifth Third Mortgage Company policies and procedures.
• Maintain knowledge of available loan products, processing procedures, underwriting guidelines, and general departmental guidelines.
• Conduct and coordinate homebuyer-training seminars for potential CRA applicants.
• Handle employee loans and participate in Fifth Third-coordinated functions to promote employee loans.
• Follow defined protocols for escalating exceptions.
• Take applicant applications by completing Fannie Mae Form 1003 on a laptop.
• Use a laptop to communicate, access daily rates and applicant credit reports, review Loan Prospector responses, and transmit loans to LOMAS.
• Collect appropriate documentation from each applicant and deliver loan packages within management-defined time frames.
• Manage the pipeline for originated loans through closing and complete required management reports.
• Provide timely updates and progress reports to applicants and referral sources.
• Maintain high levels of customer service while managing applicants' and support staff's expectations.
• Attend and participate in Consumer Lending meetings as required by management.
• Complete SAFE Act registration through the Nationwide Mortgage Licensing System at the time of employment.

Benefits

• Comprehensive benefits programs supporting employees' and their families' physical, financial, emotional, and social well-being.
• Differentiated compensation offerings.
• Incentive compensation based on company, line of business, and/or individual performance, combined with either a base salary or a draw.

What This Job Offers

• Job Type: Full-time
• Education Level: High school or GED