CRA Mortgage Originator

M&T Bank•Iselin, NJ

4d•$32 - $53

About The Position

The CRA Mortgage Originator originates mortgage applications in low-to-moderate income neighborhoods and for low-to-moderate income borrowers. The role supports the bank’s Community Reinvestment Act (CRA) responsibilities through mortgage origination, community outreach, and relationships with local housing agencies and other community organizations. The position requires extensive travel with limited supervision, federal registration under the SAFE Act, and compliance with bank policies and applicable regulations. The originator cultivates mortgage business independently, markets bank and agency-related mortgage products, assesses applicants’ creditworthiness, and advises borrowers on suitable loan programs and other financial options. The position includes extensive external contacts, primarily through sales calls outside the office, as well as collaboration with bank personnel and community stakeholders.

Requirements

Associate degree and 2 years of sales experience; or, in lieu of a degree, a combined minimum of 4 years of higher education and/or relevant work experience, including at least 2 years of sales experience.
Establish and maintain federal registration under the SAFE Act.
Extensive travel with limited supervision.

Responsibilities

Cultivate new mortgage business independently and market, service, and promote the bank’s mortgage products.
Follow up with potential customers by travel or telephone; travel to and work at prospective customers’ homes or business locations as required.
Market proprietary CRA products, such as Get Started, through the Retail Bank Network and outside organizations, including real estate firms and housing agencies.
Market agency-related products such as FHA and VA loans to low-to-moderate income borrowers and in low-to-moderate income neighborhoods.
Interview mortgage applicants and collect and analyze information about income, assets, debts, credit, needs, goals, and earnings; obtain and analyze relevant financial and credit data.
Independently assess applicants’ creditworthiness and issue pre-qualification statements of borrower eligibility.
Determine which products best meet customers’ needs and financial circumstances, and explain the advantages and disadvantages of financial products and mortgage programs.
Recommend other bank products or alternative lending options when appropriate.
Negotiate loan terms and conditions with mortgagors and bind the bank in connection with those terms and conditions.
Ensure lending compliance with origination procedures, bank policies, and regulatory requirements.
Advise management on effective compliance strategies and potential changes to operating policies to maintain regulatory compliance.
Interact with housing agencies and governmental entities focused on CRA initiatives, and stay informed about relevant industry regulations and government requirements.
Meet prospective customers to identify financial needs relating to CRA guidelines, first-time homebuyer guidelines, and mortgage opportunities.
Represent the bank in the community and at related functions to develop and promote business.
Present seminars to the public and real estate agents to promote business and community outreach, as needed.
Establish and maintain federal registration requirements under the SAFE Act.
Develop and maintain relationships with customers, Realtors, local housing agencies, community groups, and internal bank personnel.