CRA Loan Specilaist
Fifth Third Bank · San Diego, CA
- On site
- Full-time
- $75,000 / year
- San Diego, CA
Job highlights
- Originate residential mortgage loans.
- Focus on CRA products and low-income areas.
- Manage loan process from application to closing.
- Develop prospect relationships and conduct training.
- Requires NMLS registration and sales skills.
About the role
CRA Loan Specialist
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General Function
Performs a wide range of duties relating to the origination of residential 1st mortgage loans for branch offices and outside referrals. Meets standards and objectives defined by management for mortgage loan sales and cross-selling objectives. Focuses on selling CRA products and services, targeting low to moderate-income individuals and areas, as well as non-profit organizations. Assumes overall responsibility for the residential mortgage loan from application to closing. Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
Essential Duties And Responsibilities
- Develop CRA prospects & referral contacts (realtors, builders, professional and personal contacts).
- Maintain knowledge of Fifth Third Mortgage Company's policies and procedures.
- Maintain knowledge of available loan products, processing procedures, and underwriting and general departmental guidelines.
- Conduct and coordinate homebuyer-training seminars for CRA potential applicants.
- Handle employee loans and participate in appropriate Fifth Third-coordinated functions to promote employee loans.
- Follow defined protocol for escalation of exceptions.
- Take applicant applications by completing Fannie Mae form 1003 on the laptop.
- Utilize the laptop for communication and access of daily rates, applicant credit reports, Loan Prospector responses, and transmitting the loan to LOMAS.
- Collect appropriate documentation from each applicant and deliver loan package in the time frames set by management.
- Manage pipeline for all originated loans through closing and complete required management reports.
- Communicate with applicants and/or referral sources by providing timely updates and progress reports.
- Maintain high levels of customer service while managing each applicant*s and support staff*s expectations.
- Attend and participate in all Consumer Lending meetings as required by management.
- This position requires SAFE Act registration at the time of employment through the Nationwide Mortgage Licensing System (NMLS).
Minimum Knowledge And Skills Required
- High school diploma or equivalent mandatory. Four-year college degree preferred.
- Knowledge of conventional and/or government lending guidelines.
- Knowledge of residential mortgage processing, underwriting, and closing procedures.
- Knowledge of federal lending regulations governing real estate lending.
- Demonstrated organizational skills.
- Strong written and verbal communications skills.
- Demonstrated teamwork and customer service skills.
- Proven computer skills.
- Basic sales technique skills.
- Strong desire to excel in a competitive environment.
- This position requires S.A.F.E. Act registration at the time of employment through the Nationwide Mortgage Licensing System (NMLS). The NMLS web site (mortgage.nationwidelicensingsystem.org) provides the MU4R questions and registration required for employment in this position.
CRA Loan Specilaist
At Fifth Third, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day.
Compensation for this position is largely incentive-based. Incentive compensation is combined with either a base salary or a draw to determine total cash compensation, and incentive compensation is based upon company, line of business and/or individual performance. More information can be obtained upon request.
Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner.
Key skills/competency
- Mortgage Origination
- CRA Products
- Loan Processing
- Sales
- Customer Service
- Fannie Mae Form 1003
- NMLS Registration
- Underwriting Guidelines
- Federal Lending Regulations
- Pipeline Management
Skills & topics
- CRA Loan Specialist
- Mortgage Loan Originator
- Residential Mortgage
- Community Reinvestment Act
- Loan Origination
- Sales
- Fifth Third Bank
- NMLS
- Fannie Mae
- San Diego
How to get hired
- Tailor your resume: Highlight experience in mortgage origination, CRA products, and sales.
- Showcase NMLS registration: Emphasize your SAFE Act compliance and licensing.
- Demonstrate sales skills: Provide examples of meeting sales objectives and customer acquisition.
- Understand CRA: Articulate your knowledge of community reinvestment initiatives.
- Prepare for interviews: Be ready to discuss your sales techniques and customer service approach.
Technical preparation
Behavioral questions
Frequently asked questions
- What is the salary for a CRA Loan Specialist at Fifth Third Bank?
- Compensation for the CRA Loan Specialist role at Fifth Third Bank is largely incentive-based, combining incentive compensation with either a base salary or a draw. Specific details can be obtained upon request from the hiring team.
- Is NMLS registration required for the CRA Loan Specialist position?
- Yes, this position requires S.A.F.E. Act registration at the time of employment through the Nationwide Mortgage Licensing System (NMLS). You will need to complete the necessary MU4R questions and registration.
- What are the primary responsibilities of a CRA Loan Specialist at Fifth Third Bank?
- The primary responsibilities include originating residential 1st mortgage loans, focusing on CRA products for low to moderate-income individuals and areas, managing the loan process from application to closing, and developing prospect relationships.
- What kind of training is provided for CRA Loan Specialist applicants?
- While not explicitly detailed, the role involves conducting homebuyer-training seminars for CRA potential applicants. You will also need to maintain knowledge of Fifth Third's policies, products, and procedures.
- What is Fifth Third Bank's stance on unsolicited resumes from agencies?
- Fifth Third Bank does not accept unsolicited resumes from agencies without an active agreement. Any unsolicited resumes submitted will be considered the property of Fifth Third Bank.
- What is the work arrangement for the CRA Loan Specialist role?
- Based on the location provided (San Diego, California), this role is likely on-site, requiring a physical presence at a Fifth Third Bank branch or office.
- What educational background is required for a CRA Loan Specialist?
- A high school diploma or equivalent is mandatory. A four-year college degree is preferred, and knowledge of conventional/government lending guidelines and federal lending regulations is essential.