CRA Mortgage Advisor

2 weeks ago

Union, New Jersey, United States M&T Bank Full time
Position Overview:

As a Mortgage Loan Consultant, you will play a crucial role in originating mortgage applications for borrowers in low-to-moderate income areas. Your responsibilities will include engaging in Community Reinvestment Act (CRA) initiatives within M&T Bank's community regions, ensuring compliance with federal regulations under the SAFE Act.

Key Responsibilities:
  • Independently develop and nurture new mortgage business opportunities.
  • Promote and market the bank's mortgage offerings to potential clients.
  • Conduct home visits or meetings at business locations as necessary to engage with prospective clients.
  • Follow up with potential customers through various communication methods.
  • Market proprietary CRA products in collaboration with the Retail Bank Network and external organizations, including real estate firms and housing agencies.
  • Provide information on agency-related products (FHA, VA, etc.) to low-to-moderate income borrowers.
  • Interview applicants to gather and assess financial information, including income, assets, debts, and credit history, to evaluate loan eligibility.
  • Independently determine the creditworthiness of applicants.
  • Issue pre-qualification statements regarding borrowers' eligibility.
  • Advise clients on the most suitable mortgage products based on their financial situations, highlighting the pros and cons of various options.
  • Negotiate loan terms and conditions with borrowers.
  • Ensure compliance with all lending regulations and bank policies during the origination process.
  • Provide insights to management on compliance strategies and recommend necessary changes to corporate policies to maintain regulatory adherence.
  • Engage with housing agencies and government entities focused on CRA initiatives.
  • Stay updated on industry regulations and government requirements related to CRA housing needs.
  • Meet with potential clients to assess their financial needs in relation to CRA guidelines and mortgage opportunities.
  • Represent the bank at community events to foster relationships and promote business growth.
  • Conduct seminars for the public and real estate professionals to enhance community outreach and business development.
Scope of Role:

This position is vital for ensuring the bank meets its CRA obligations to federal regulators and the community. You will build relationships with local housing agencies and organizations that specialize in CRA outreach.

Extensive travel is required, and you will work with minimal supervision.

Your role involves frequent external interactions with potential and existing clients, as well as internal collaboration with bank personnel.

You will establish and maintain relationships within the community while adhering to federal registration requirements as outlined in the SAFE Act.

Supervisory Responsibilities:

This position does not have supervisory duties.

Qualifications:

A minimum of an Associate's degree and two years of sales experience, or a combination of four years of higher education and/or relevant work experience, including at least two years in sales.

M&T Bank is dedicated to providing fair and competitive compensation for our employees. The pay range for this role is $50.35 per hour (USD), with specific compensation determined by the candidate's unique blend of skills and experience.

Location:
Union, New Jersey, United States.

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