FirstBank
Community Development Manager
FirstBank, Nashville, Tennessee, United States,
Summary:
The Mortgage Community Development Manager will originate quality first lien mortgage loans on 1-4 family properties for low to moderate income (LMI) and minority borrowers in partnership with supported external non-profit organizations. This position will ensure that all housing non-profit partners in their geographic market are aware of all mortgage loan products and services offered by the bank.
This role requires a deep knowledge of the Community Reinvestment Act (CRA), as it relates to lending, and knowledge of various grants and subsidy programs to fill affordable housing mortgage gaps. In addition, it requires substantial knowledge of affordable housing programs and first-time homebuyer education programs.
Essential Duties and Responsibilities:
Originate high quality first mortgage loans for low-to-moderate income borrowers to help the bank serve the housing credit needs of the communities it serves.
Responsible for originating a minimum of 4 CRA/LMI mortgage applications per month, closing at least 5 per quarter.
Increase mortgage loan volume, primarily focusing on CRA, low-to-moderate, and minority customers, through effective consultative selling.
Act as a representative of the bank in the community by attending community meetings/events and providing training seminars to residents regarding loan application procedures and mortgage loan products and services.
Work with non-profit partners to provide home buyer education, credit counseling, and technical assistance.
Identify appropriate community groups throughout the community and establish a plan for making contact and establishing relationships in partnership with the local business development officer.
Serve on a minimum of 1 housing/credit/finance related board, charitable/civic organization, or MBA committee on an ongoing basis.
Provide input for the design of programs, participate in credit related training for consumers to enhance knowledge within the community to maximize the benefits of mortgage loans and services.
Conduct a minimum of 6 outreach training classes in financial literacy, credit counseling, banking, home ownership, etc. annually.
Maintain extensive knowledge of FirstBank Borrower Benefit and Mortgage Tax Credits.
Identify potential loan applicants through referrals and make sales calls as appropriate to provide prospects with information on loan products and solicit business.
Assist borrowers with the application process by providing direction in filling out forms and keeping the applicant informed of necessary documentation.
Understand and remain educated on grant/subsidy programs available within the market to ensure borrowers receive maximum funding.
Prepare loan status updates for each loan in the individual pipeline to be given to non-profit housing partners if applicable.
Interview and counsel loan applicants on the various mortgage loan programs offered by the bank.
Analyze financial status and credit of each potential borrower, and fully understand the contract of sale to ensure proper submission of application.
Make sales calls to all housing non-profits to maintain relationships and ensure a steady flow of referrals.
Report weekly on loan volumes to management and produce all other applicable reports necessary to provide management with the success of the originating efforts as requested.
Understand the complexity of the partnerships with non-profit organizations to mitigate potential reputational risk.
Qualifications:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience:
3+ years of effective and proven mortgage sales experience.
Comprehensive understanding of regulatory requirements including Home Loan Disclosure Act, Real Estate Settlement Procedures, Reg Z, Federal Truth in Lending, Fair Housing and HUD regulations, Client/FHLMC requirements, and Equal Credit Opportunity Act.
Skills and Abilities:
Ability to register and hold an active NMLS (Federal) license.
Effective verbal and written communication.
Possess solid interpersonal and negotiation skills.
Ability to demonstrate the highest level of ethical behavior and confidentiality while maintaining sensitive information.
Respectful demeanor toward other associates and managers that promotes a positive and professional work environment.
Understand and comply with bank policy, laws, and regulations applicable to job duties, including completing compliance training and adhering to internal procedures and controls; report any known violations of compliance policy, laws, or regulations and report any suspicious customer and/or account activity.
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The Mortgage Community Development Manager will originate quality first lien mortgage loans on 1-4 family properties for low to moderate income (LMI) and minority borrowers in partnership with supported external non-profit organizations. This position will ensure that all housing non-profit partners in their geographic market are aware of all mortgage loan products and services offered by the bank.
This role requires a deep knowledge of the Community Reinvestment Act (CRA), as it relates to lending, and knowledge of various grants and subsidy programs to fill affordable housing mortgage gaps. In addition, it requires substantial knowledge of affordable housing programs and first-time homebuyer education programs.
Essential Duties and Responsibilities:
Originate high quality first mortgage loans for low-to-moderate income borrowers to help the bank serve the housing credit needs of the communities it serves.
Responsible for originating a minimum of 4 CRA/LMI mortgage applications per month, closing at least 5 per quarter.
Increase mortgage loan volume, primarily focusing on CRA, low-to-moderate, and minority customers, through effective consultative selling.
Act as a representative of the bank in the community by attending community meetings/events and providing training seminars to residents regarding loan application procedures and mortgage loan products and services.
Work with non-profit partners to provide home buyer education, credit counseling, and technical assistance.
Identify appropriate community groups throughout the community and establish a plan for making contact and establishing relationships in partnership with the local business development officer.
Serve on a minimum of 1 housing/credit/finance related board, charitable/civic organization, or MBA committee on an ongoing basis.
Provide input for the design of programs, participate in credit related training for consumers to enhance knowledge within the community to maximize the benefits of mortgage loans and services.
Conduct a minimum of 6 outreach training classes in financial literacy, credit counseling, banking, home ownership, etc. annually.
Maintain extensive knowledge of FirstBank Borrower Benefit and Mortgage Tax Credits.
Identify potential loan applicants through referrals and make sales calls as appropriate to provide prospects with information on loan products and solicit business.
Assist borrowers with the application process by providing direction in filling out forms and keeping the applicant informed of necessary documentation.
Understand and remain educated on grant/subsidy programs available within the market to ensure borrowers receive maximum funding.
Prepare loan status updates for each loan in the individual pipeline to be given to non-profit housing partners if applicable.
Interview and counsel loan applicants on the various mortgage loan programs offered by the bank.
Analyze financial status and credit of each potential borrower, and fully understand the contract of sale to ensure proper submission of application.
Make sales calls to all housing non-profits to maintain relationships and ensure a steady flow of referrals.
Report weekly on loan volumes to management and produce all other applicable reports necessary to provide management with the success of the originating efforts as requested.
Understand the complexity of the partnerships with non-profit organizations to mitigate potential reputational risk.
Qualifications:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience:
3+ years of effective and proven mortgage sales experience.
Comprehensive understanding of regulatory requirements including Home Loan Disclosure Act, Real Estate Settlement Procedures, Reg Z, Federal Truth in Lending, Fair Housing and HUD regulations, Client/FHLMC requirements, and Equal Credit Opportunity Act.
Skills and Abilities:
Ability to register and hold an active NMLS (Federal) license.
Effective verbal and written communication.
Possess solid interpersonal and negotiation skills.
Ability to demonstrate the highest level of ethical behavior and confidentiality while maintaining sensitive information.
Respectful demeanor toward other associates and managers that promotes a positive and professional work environment.
Understand and comply with bank policy, laws, and regulations applicable to job duties, including completing compliance training and adhering to internal procedures and controls; report any known violations of compliance policy, laws, or regulations and report any suspicious customer and/or account activity.
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