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CRA Mortgage Loan Officer (Capital One)
Ref No.: 16-07876
Location: Chicago, Illinois
CRA Mortgage Loan Officer

At bank, we march to a different beat! While we may be a top -10 bank by deposits, we operate and innovate with the vigor of a start-up. With thousands of employees, we never lose anyone in the shuffle, but we celebrate individuals with respect and exceptional benefits. And we don't just fill positions-we recruit the best and the brightest people that know how to set industry trends and wow consumers.

bank has celebrated milestones, including:
  • Top 10 bank by deposits.
  • 124 on the Fortune 500.
  • Approximately 900 bank branches.
  • More than 43,000 associates globally.
  • More than 65 million customer accounts.
We're excited to be growing and hiring across the country to build the next generation on sound practices and values so that our philosophy can transcend into our products and services. We hope you join our tremendous team that has helped changed our industry for the better

The Role:
We are seeking a CRA Mortgage Loan Officer. The individual will originate quality first lien mortgage loans on 1-4 family properties for low to moderate income (LMI) borrowers in partnership with supported external non-profit organizations. He or she will also ensure that all housing non-profit partners in a given geographic market are aware of all mortgage loan products and services offered by 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 gap.

The individual in this role must also have a comprehensive understanding of the following regulatory requirements:
  • Home Loan Disclosure Act
  • Real Estate Settlement Procedures
  • Reg. Z
  • Federal Truth in Lending
  • Fair Housing
  • Financial Institution Reform Act of 1989
  • HUD regulations
  • VA regulations
  • Client/FHLMC Requirements
  • Equal Credit Opportunity Act.
  • Originate high quality first mortgage loans which are typical in low-to-moderate income borrowers in order to help the bank serve the housing credit needs of the low-to-moderate income communities it serves
  • 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 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
  • 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
  • Identify potential loan applicants through referrals and make sales calls as appropriate in order to provide prospects with information on loan products and to solicit business as appropriate
  • 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 market to ensure borrower receives maximum funding
  • Enter all new loan applications on the computer system. Follows the Community Mortgage Acquisition Procedure and understands and complies with all regulatory and compliance objectives
  • Prepare loan status of each loan in individual pipeline to be given to non-profit housing partners if applicable
  • Track production and ensure all incentive pay-outs are correct in COINS
  • Interview and counsel loan applicants on the various mortgage loan programs offered by bank
  • Analyze financial status and credit on 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 relationship and ensure for the 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 by management
  • Understand the complexity of the partnerships with non-profit organizations in an effort to mitigate potential reputational risk from occurring
  • Work on special projects as assigned by manager.
Basic Qualifications :
  • High school diploma, GED or equivalent certification or military experience .
  • At least 3 years of experience in mortgage loan origination for low to moderate income borrowers.
  • At least 3 years of experience with the Community Reinvestment Act.
  • NMLS registration.
Preferred Qualifications:
  • Bachelor's Degree
  • 7 years of experience in mortgage loan origination for low to moderate income borrowers
  • 7 years of experience with the Community Reinvestment Act.
Requires successful registration with, and issuance of a unique identification number from, the Nationwide Mortgage Licensing System (NMLS) in compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act).

At this time, bank will not sponsor a new applicant for employment authorization for this position.

ControlID: 14.234.89 SHR