The objective of this position is to generate mortgage loans that enable Bluestone to meet its minority and low-and moderate-income production goals. To achieve this objective, this individual will be responsible for identifying and establishing professional relationships and partnerships with individuals and organizations external to the Bank in order to generate lending opportunities that lead to the bank meeting its Community Reinvestment Act (CRA) assessment area requirements. This position will be responsible for sourcing applications in low - and moderate-income and minority census tracts within the Bank's CRA assessment area, offering a high-level of professional service to all applicants, working closely with the applicant and internal staff throughout the application and loan approval process, and ensuring operational compliance.
Additionally, this role will be responsible for working with and educating peer loan officers within the Residential Lending department to provide guidance on meeting lending goals as they relate to minority and low-and moderate-income loan production, as well as partnering cross functionally to generate referral business.
Essential Functions
Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions
Originate residential loans, with a focus on first-time, low- and moderate-income, and minority homebuyers within the Bank's designated CRA cities and towns.
Actively source new loan applicants, encourage and accept loan applications, and meet with applicant(s) to determine the best product and terms that will ensure success in the residential mortgage approval process.
Generate complete residential mortgage applications, ensuring appropriate guidelines and procedures are followed.
Clearly communicate loan documentation required for approval, loan estimate of fees, and terms and expectations for the approval process to the applicant.
Assist the loan processing and underwriting staff during the loan approval process and ensure the integrity and accuracy of all information and documents in the loan approval process.
Engage community groups, housing agencies, schools and municipalities within the Bank's CRA Assessment Area for first-time homebuyer counseling opportunities, financial literacy opportunities, and down-payment assistance funding. Conduct presentations that engage these groups.
Demonstrate a comprehensive understanding of CRA expectations and bank-wide goals; educates and advises other loan officers to assist them in effectively generating loans that support the Bank in meeting its CRA goals.
Researches and recommends strategic initiatives to maintain competitiveness in the Bank's CRA Assessment Area; meets established quantitative and qualitative goals
Collaborates with other revenue development officers and branch staff to increase the Bank's profitability by cross-selling products and services.
Actively participates in industry, community and other trade organizations to promote the Bank's visibility and brand.
Participates as necessary in audits and regulatory examinations.
Complies with state and federal laws and regulations and Bank policies and procedures.
Actively participates in Bank committees as requested.
Performs other duties as required.
Physical Demands and Work Environment
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit and talk or hear, reach with hands and arms; and stoop, kneel, or crouch. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, and the ability to adjust focus.
Affirmative Action/EEO Statement
An Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.
Associate or Bachelor's degree in Business or related field.
NMLS licensed (or Federal registration) required.
3-5 years of experience in residential lending with a proven track record of success developing relationships that lead to residential loans for first time homebuyers, low- and moderate-income, and minority homebuyers.
Demonstrated effectiveness in professional networking and business development.
Verbal and written fluency in Spanish, Cape Verdean Creole, and/or Portuguese.
Thorough understanding of all residential lending practices and requirements, including FHA, VA, USDA, Conventional, and state bond programs (i.e. MassHousing) and knowledge of local down payment assistance programs.
Must have experience in pre-qualifying borrowers using standards established in the Ability to Repay and Qualified Mortgage rules, including awareness of agency and investor underwriting guidelines and loan documentation.
Effective oral and written communication skills; strong negotiation, presentation, and public relations skills.
Thorough knowledge of relevant Federal, State and local laws and regulations.
Proficient in ICE Encompass or similar loan origination software.
Working knowledge of MS Office applications; Ability to learn and master the Bank's required systems/applications, as needed.
Strong decision-making and problem-solving skills.
