Community Reinvestment Act Loan Officer

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 borrowers, 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 home ownership 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.

• 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, liens, and characteristics of the property.
• 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 , 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…