CRA Loan Specialist

Fifth Third Bank • Livonia, MI

5d • Onsite

About The Position

The CRA Loan Specialist originates residential first mortgage loans for branch offices and outside referrals, with a focus on selling CRA products and services to low- to moderate-income individuals and areas, as well as nonprofit organizations. The specialist is responsible for the mortgage loan process from application through closing, meeting management-defined mortgage sales and cross-selling objectives, and maintaining a positive customer experience while following bank policies and risk procedures.

The role develops CRA prospects and referral relationships, maintains knowledge of mortgage products and lending procedures, and conducts or coordinates homebuyer-training seminars for potential CRA applicants. It also requires SAFE Act registration through the Nationwide Mortgage Licensing System (NMLS) at the time of employment. The position is located in Livonia, Michigan.

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 NMLS is required at the time of employment.

Nice To Haves

• Four-year college degree preferred.

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, available loan products, processing procedures, underwriting guidelines, and departmental guidelines.
• Conduct and coordinate homebuyer-training seminars for potential CRA applicants.
• Handle employee loans and participate in Fifth Third-coordinated functions that 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 applicants and deliver loan packages within management-set 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 customer-service levels while managing applicants’ and support staff’s expectations.
• Attend and participate in Consumer Lending meetings as required by management.
• Complete SAFE Act registration through NMLS at the time of employment.
• Meet management-defined mortgage loan sales and cross-selling objectives while managing risk and following policies and procedures.

Benefits

• Comprehensive benefits programs supporting physical, financial, emotional, and social well-being.
• Differentiated compensation offerings; compensation is largely incentive-based and combined with either a base salary or a draw to determine total cash compensation.

What This Job Offers

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