CRA Lending Specialist

CRA Lending Specialist

Job Description:

Responsible for guiding customers through the process of identifying and acquiring permanent FHA/VA and conventional mortgage loans, in addition to other residential mortgage programs, that align with their financial needs and objectives, while adhering to the federal registration requirements mandated by the SAFE Act.

Primary Responsibilities:

• Conducts interviews with applicants to compile and analyze data concerning their financial status, including income, debts, assets, and credit records, as well as their preferences, earnings, and requirements to assist in determining the viability of approving the loan; acquires and assesses critical financial and credit information.
• Assesses the credit worthiness of applicants autonomously. Authorized to issue a pre-qualification declaration of borrowers' eligibility.
• Determines the optimal products that suit the customer's needs and financial status while informing potential borrowers about the pros and cons of various financial choices and the most suitable mortgage programs.
• Advises clients on other available banking products or alternative loan choices as required.
• Engages in activities that foster the growth of mortgage business, such as reaching out to real estate agents, builders, and property developers to generate interest in residential mortgage options.
• There may be a need to visit and conduct work at potential clients' homes or business premises. Afterwards, follows up on potential clients via travel or phone contact.
• Participates in talks with borrowers regarding loan terms and holds the authority to finalize these agreements on behalf of the bank.
• Guarantees conformity with all origination guidelines, which encompass bank procedures and regulatory prerequisites for lending compliance.
• Advises management on how to implement effective compliance strategies and suggests possible modifications to corporate operating policies to maintain regulatory compliance over time.
• Observes the fluctuations and advancements happening in the local real estate market, as well as the alterations in rules and statutes related to both private and federally-insured home loans.
• Plays a key role in representing the bank within the community by taking part in various events and initiatives to enhance business prospects. Organizes seminars targeted at the general public and real estate agents to generate additional business and foster community engagement.

Scope of Responsibilities:

• The individual currently holding the position often works independently with little supervision, occasionally working remotely.
• This position involves maintaining broad external connections, as well as internal communications primarily during sales visits conducted away from the office.
• The role requires engaging with individuals and teams both inside the organization and in the assigned community, fostering new relationships and sustaining current ones.
• The responsibility for instituting and preserving federal registration prerequisites as delineated in the SAFE Act.

Requisite educational and experiential criteria:

• Individuals with a two-year degree and a couple of years working in sales,
• As an alternative to obtaining a degree, there are other choices available
• A total of 4 years of higher education and/or related work experience is necessary, with at least 2 years specifically in sales.
• Extensive expertise in FHA/VA regulations, conventional loan criteria, and legal aspects of real estate.

The ideal candidate is expected to possess a balance of education and experiential learning:

• Technical Skills
• Broad comprehension of personal computers and software tools frequently employed in the Residential Mortgage Department
• Proven sales ability.
• Strong mathematical skills.
• Self-motivated, well-organized individual.
• Strong communication skills demonstrated in verbal and written interactions.
• Skill in interacting with individuals across different income levels and peers professionally.
• Displayed skill in working independently and ensuring that all details are addressed.
• Competence in operating efficiently under time pressure.

Ensuring fairness, competitiveness, and market relevance, M&T Bank strives to provide just compensation to its employees. The pay structure for this specific role is commission-based, with an initial draw offered. The remuneration package for the appointed candidate will be determined by their individual amalgamation of skills, experience, and expertise.

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