Community Mortgage Loan Officer

First American Bank was founded in Chicago, and over the years has expanded throughout Wisconsin and Florida. As the largest privately held bank in Illinois, we now have over 60 locations and assets of $8+ billion.  We are a community bank at heart with international expertise, traditional values, and a forward-looking philosophy. Our employees have the experience and vision to meet the needs of savers, borrowers, and businesses in the 21st century. First American Bank can offer employees a level of visibility, career growth, and stability that is difficult to find in many larger corporations.

The Community Mortgage Loan Officer originates residential mortgage loans while leveraging established relationships with real estate professionals, community organizations, affordable housing agencies, nonprofit partners, and other referral sources to drive business growth. This position serves as a trusted advisor, helping customers navigate the home financing process by identifying lending solutions that align with their financial goals and homeownership objectives, including affordable housing and community lending programs. As a highly relationship-driven role, the Community Mortgage Loan Officer spends the majority of their time in the field developing new business opportunities, expanding First American Bank's presence within the communities it serves, and increasing access to sustainable homeownership opportunities.

DUTIES & RESPONSIBILITIES

• Independently originate residential mortgage loans by interviewing applicants, taking loan applications, conducting preliminary underwriting reviews, and submitting complete loan packages to processing and underwriting for approval.
• Conduct comprehensive consultations with prospective and existing customers to assess their financial circumstances, homeownership goals, borrowing needs, income, assets, liabilities, and credit history to identify appropriate lending solutions.
• Recommend mortgage products and community lending solutions that align with customer objectives while providing guidance throughout the mortgage application, underwriting, and closing process.
• Educate customers on available affordable housing programs, low-to-moderate income (LMI) mortgage solutions, down payment assistance programs, lender-paid assistance programs, and other homeownership resources.
• Analyze borrower financial information, credit profiles, income documentation, and assets to determine eligibility for traditional and specialized community lending programs.
• Maintain an active pipeline of mortgage opportunities by documenting customer interactions, monitoring loan progress, obtaining required documentation, and ensuring timely follow-up throughout the lending process.
• Develop and maintain relationships with real estate professionals, affordable housing organizations, nonprofit agencies, housing counselors, community development organizations, and other referral sources to generate new business opportunities and expand homeownership access.
• Leverage an established book of business and community network to identify prospective borrowers and increase mortgage production within the assigned market.
• Serve as a resource to prospective homebuyers by providing education regarding mortgage products, financial readiness, homeownership opportunities, and available assistance programs.
• Collaborate with internal business partners to deliver a seamless customer experience and identify opportunities to expand customer relationships through referrals to other Bank products and services.
• Partner with Processors, Underwriters, Closers, customers, and external vendors to facilitate the timely and accurate completion of mortgage transactions.
• Effectively communicate mortgage lending concepts, program requirements, regulatory disclosures, and eligibility criteria in a manner that is easily understood by customers and community partners.
• Develop and execute a business development strategy focused on expanding relationships with community organizations, referral partners, housing advocates, and local stakeholders while achieving established sales goals.
• Represent First American Bank at community events, affordable housing initiatives, first-time homebuyer workshops, nonprofit events, and other outreach activities that support community development and homeownership opportunities.
• Attend and/or host community-focused events, including diverse Realtor association meetings, affordable housing initiatives, nonprofit programs, and homeownership education events, to strengthen referral networks and increase awareness of First American Bank's lending solutions.
• Appropriately assess risk when business decisions are made by demonstrating sound judgment, adhering to applicable laws and regulations, following Bank policies, and safeguarding the interests of First American Bank and its customers.
• Maintain knowledge of community lending trends, affordable housing initiatives, mortgage products, assistance programs, and regulatory developments to better serve customers and community partners.
• Perform sales-related activities primarily outside of Bank locations, including customer meetings, referral partner visits, community outreach initiatives, homebuyer education programs, and networking events.
• 80%+ of work time is spent outside of Bank locations conducting business development, community outreach, networking, customer meetings, and sales activities.
• Conduct and complete additional assignments/projects as designated by management.

QUALIFICATIONS

• High school diploma or equivalent.
• This position requires the individual to take loan applications and close loans.
• This position will require the employee to register and maintain registration with the Nationwide Mortgage Licensing System & Registry (NMLS).
• Minimum of three years of mortgage loan origination experience required, including a demonstrated ability to develop referral relationships, generate new business, and successfully manage a residential mortgage pipeline.
• Established relationships with real estate professionals, community organizations, affordable housing agencies, nonprofit partners, and other referral sources within the assigned market required, along with an established book of business.
• Experience originating community lending and affordable housing loan products, including low-to-moderate income (LMI) mortgage programs, lender-paid assistance programs, and third-party down payment and closing cost assistance programs.
• Strong knowledge of residential mortgage products, including conventional, FHA, VA, jumbo, portfolio, and community lending programs, as well as mortgage pricing and underwriting guidelines.
• Experience analyzing borrower financial information, credit profiles, income documentation, and assets to determine appropriate lending solutions and assess loan eligibility.
• Working knowledge of the mortgage loan process from application through closing, including secondary market requirements and affordable housing program guidelines.
• Thorough understanding of applicable federal and state mortgage lending regulations, including TILA, RESPA, HMDA, ECOA, Fair Lending requirements, and regulations impacting community lending activities.
• Ability to work independently, manage multiple priorities, maintain a high-volume pipeline, and effectively engage with diverse communities and stakeholders to promote homeownership opportunities.
• Demonstrated ability to educate borrowers on mortgage products, loan requirements, and the documentation necessary to successfully complete the mortgage application and approval process.
• Strong verbal communication and relationship-building skills, with the ability to effectively interact with borrowers, real estate professionals, builders, attorneys, title companies, and internal business partners.
• Demonstrated ability to tailor communications to diverse audiences, translating complex mortgage, financial, and underwriting concepts into clear and understandable information.
• Strong written communication skills with the ability to prepare professional correspondence and maintain accurate loan documentation while adhering to high standards of grammar, spelling, and professionalism.
• Ability to establish credibility and trust through a professional demeanor, consultative sales approach, and commitment to delivering an exceptional customer experience.
• Maintain positive working relationships with internal and external partners by exhibiting strong interpersonal skills, collaboration, and a solutions-focused approach.
• Use sound professional judgment to balance customer needs, regulatory requirements, and organizational objectives while effectively identifying and mitigating risk.
• Demonstrated business development and networking skills, including the ability to cultivate referral sources, generate new business opportunities, and proactively follow up with prospective customers.
• Ability to communicate technical mortgage lending concepts, underwriting requirements, and loan program eligibility criteria to both financial and non-financial audiences.
• Proficiency with Microsoft 365 applications, including Word, Excel, Outlook, and Teams, with the ability to effectively prepare, review, and manage loan-related documents, reports, and communications.
• Experience using Mortgage Loan Origination Systems (LOS) and related mortgage lending technologies required; previous experience with MortgageBot preferred but not required.
• Demonstrates a basic understanding of Artificial Intelligence (AI) and its use as a productivity and business-support tool. Willingly learns and adopts approved AI-enabled tools to enhance efficiency, accuracy, and effectiveness in daily work activities.
• Exercises professional judgment when leveraging AI-enabled tools by validating outputs for accuracy and relevance and maintaining proficiency through ongoing learning and adherence to organizational AI policies and guidelines.
• Demonstrated ability to learn new systems, technologies, and workflows, and to effectively adapt to system enhancements, upgrades, and process changes.
• This position requires extensive travel, with approximately 80% of work time spent away from Bank locations cultivating referral sources, meeting with customers, developing new business opportunities, and conducting sales and networking activities. Travel is primarily local, although occasional overnight and out-of-state travel may be required for training, conferences, meetings, and other business purposes.
• Typical schedule is Monday through Friday 8:00 a.m. to 5:00 p.m. Additional hours may be required depending upon business need.
• Punctuality is required to maintain First American Bank’s customer service standards.