South Shore Bank · 18 hours ago
Community Reinvestment Act Loan Officer
Dedham, MA
Full-time
Onsite
Mid, Senior Level
5+ years expSouth Shore Bank is dedicated to serving its community and is seeking a Community Reinvestment Act Loan Officer. The role involves establishing relationships with realtors and organizations to assist low-to-moderate income and minority borrowers in securing mortgage loans and down payment assistance programs while administering the loan origination process.
Financial ServicesVenture Capital
Responsibilities
Originate quality mortgage loans secured by 1-4 family properties with a focus on LMI and minority borrowers, according to the Bank’s loan policies and procedures
Meet and reach out to local realtors, housing authorities, and non-profit homebuyer counseling organizations to establish relationships and referral sources for mortgage loans
Conduct regular meetings with realtors and housing authorities on-site, at open houses, and first-time homebuyer seminars and events to assist the Bank in identifying new CRA products
Regular use of social media platforms as a means of obtaining loan referrals
Regularly seek opportunities to meet with new housing agencies and non-profit agencies to discuss first-time homebuyer programs
Develop referral sources to meet production targets for Low-to-Moderate Income (LMI) and minority lending goals
Attend and participate in CRA working groups and other meetings held as required by management
Coordinate efforts with Compliance Department to represent the Bank in CRA initiatives, such as First-time homebuyer seminars and webinars, which help achieve our CRA goals
Assist with lead generation for small business, commercial real estate, and community development loans in the assessment area
Interview applicants to obtain and analyze required mortgage application information, including income, assets, investments, debt, credit history, prior bankruptcies, judgments, and liens, as well as characteristics of the property and similar information
Identify customers’ needs in conjunction with their financial situation and evaluate these needs with available financial products
Recommend the financial products that best meet the customer's specific needs; advise the customer about the risks and benefits of the loan alternatives, including the options and advantages involved; recommend terms and conditions of mortgage loans
Follow the existing loan pipeline to ensure conformity with terms
Ensure documentation is completed under regulatory compliance
Communicate with the customer on an ongoing basis to ensure they remain informed and aware throughout the process
Communicate with attorneys, appraisers, and other vendors to ensure a timely and efficient process, creating an exceptional customer experience
Collaborate with management to develop and maintain strong, mutually beneficial business relationships
After successful registration with the National Mortgage Licensing System (NMLS) and issuance of a valid NMLS ID, maintain active registration status with proper annual renewal, in compliance with the S.A.F.E. Act
Maintain extensive knowledge of the Bank’s policies and procedures; maintain strong knowledge of real estate lending practices and related areas
Complete all internal Bank training as assigned and required
Adhere to the Bank’s privacy and data security policies including but not limited to safeguarding of sensitive information and complying with relevant regulations to protect non-public information
Exhibit the ability and desire to embrace and enhance the Bank culture
Qualification
Required
Associate's degree or its equivalent through specialized coursework and training
Five – ten years of sales experience within a lending environment
Strong sales ability
Good working knowledge of residential lending
Excellent communication and organizational skills
Knowledge of mortgage guidelines (FNMA/FHLMC/MHFA)
Ability to organize time and work independently and to cooperate as a team member
Knowledge of HMDA and CRA regulations
Prior experience reviewing transactions and filing documentation for compliance with applicable regulations
Basic knowledge of the banking and financial services industry including federal laws and regulations
Willingness to gain new knowledge and technical skills
Intermediate typing skills to meet the production needs of the position
Intermediate math skills: the ability to calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply, and divide into all units of measure, using whole numbers, common fractions, and decimals; locate routine mathematical errors; compute rate, ratio, and percent, including the drafting and interpretation of bar graphs
Exceptional verbal, written, and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, train personnel, read, analyze, and interpret documents and professional journals, understand procedures, write reports, correspondence, and procedures, speak clearly to customers and employees
Preferred
Bilingual preferred – English and Spanish/Portuguese
Knowledge of lending, deposit, and/or operations compliance preferred
Benefits
Medical
Dental
Vision
Flexible Spending
Tuition Reimbursement
Childcare Subsidy Reimbursement
Retirement
Life Insurance
Many other benefits
Company
South Shore Bank
South Shore Bank is a mutual savings bank based in Massachusetts.
201-500 employees
Funding
Current Stage
Growth StageLeadership Team
Jim Dunphy, CPA, CMA
President and CEO
Paul Pecci
Retired bank President and CEO, Bank Director, Author & Speaker
Recent News
Lenders Cooperative
2025-09-22
2025-02-07
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