CRA Loan Specialist

Fifth Third Bank • Livonia, MI

3d • Onsite

About The Position

The CRA Loan Specialist originates residential first-mortgage loans for branch offices and outside referrals, with a focus on selling Community Reinvestment Act (CRA) products and services to low- and moderate-income individuals and areas, as well as nonprofit organizations. The specialist is responsible for the mortgage loan process from application through closing and is expected to meet management-defined mortgage sales and cross-selling objectives.

The role requires managing risk in accordance with bank policies and procedures, communicating openly about concerns, and supporting a positive customer and colleague experience. The position is based 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 the Nationwide Mortgage Licensing System (NMLS) is required 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, 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 appropriate 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 applicants 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 customer service while managing applicants’ and support staff’s expectations.
• Attend and participate in Consumer Lending meetings as required by management.
• Follow bank policies and procedures, identify and manage risks, and escalate concerns appropriately.

Benefits

• Comprehensive benefits programs intended to support employees’ and families’ 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. Incentives are based on company, line-of-business, and/or individual performance.

What This Job Offers

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