The Community Development Banking (CDB) Loan Officer (LO) is responsible for covering a cluster of retail bank branches on the origination of residential mortgage loans. The CDB LO is expected to call on government sponsored entities and (private) not- for- profit housing agencies supporting low- to- moderate income housing interests and initiatives in the communities they serve. The CDB LO is expected to be on- site at their assigned branch(s) for the full 8 hour day, except as necessary to accommodate work commitments outside of the branch or outside of regular banking hours, which may necessitate a flexible work schedule, and is expected to perform joint efforts with branch partners on increasing the mortgage opportunities within their existing client base. Any outside networking with outside referral sources should be handled in conjunction with the assigned branch partners as well as with the district CDB Compliance Officers and/or CDB Compliance Regional Managers. In addition, the CDB LO should be involved in community/ outreach programs, as well as participation with local housing agencies and non- profits, grant providers, etc. The CDB LO is expected to collaborate with our internal fulfillment area to meet the needs of our customers from the point of registration to closing. CDB LO is expected to meet or exceed established sales, cross- sell and referral goals congruently with maintaining high standards of client satisfaction and quality. This position is expected to manage client referrals and cross sell opportunities ensuring all new customers are introduced to local branches. CDB LO should maintain sales/originator systems and efficient work flows.
ESSENTIAL JOB FUNCTIONS:
The role of the CDB LO is to call on government sponsored entities and (private) not- for- profit housing agencies supporting low- to- moderate income housing interests and initiatives in the communities they serve in order to originate and process 1- 4 family residential real estate mortgage loans in accordance with KBM’s Process and Product Guidelines. The CDB LO is responsible for gathering documents at the time of registering a loan and is expected to remain the point of contact with the customer during the duration of the loan. This person is to maintain high standards of client satisfaction and quality, and ensure sales/originator systems and work flows are efficiently controlled. The CDB LO also is responsible for managing client referrals and the cross sell process ensuring all new customers are introduced to local branches. The CDB LO is responsible for knowing all Federal Regulations and bank policies. As needed and in partnership with assigned branch partners, the CDB LO is expected to help with joint calls with potential clients to develop new business both in person and over the phone. As needed and in partnership with assigned branches and CDB Compliance partners, the CDB LO is to represent the Bank in various community functions to further enhance its image and develop and promote additional business relationships. The CDB LO is to keep informed of trends and developments in the real estate market and mortgage industry. In addition, the CDB LO is to develop and maintain in- depth knowledge of products and services as well as knowledge of competitors and competitive products.
Daily Branch Activities:
- Review Book of Business client profiles with Relationship Managers to uncover mortgage opportunities.
- Discuss any cross sell opportunities discovered by LO.
- Review mortgage pipeline with Branch Managers and/or Retail Relationship Managers (RM), as directed by branch.
- Expedite loans in process by conducting regular pipeline reviews with process(s), follow up on documentation with borrowers, interact with title companies, realtors, attorneys, etc.
- Meet with clients for mortgage opportunities as scheduled.
- Interact with customer traffic. Make introductions and pass out business cards.
- COI calls should take place as part of the normal work day and should involve the branch staff or private banking staff, as appropriate.
- Interact with all branch personnel.
- Time spent in the branch will include “Monthly Activities”.
Monthly Branch Activities Include But Not Limited To:
- Key at Work Calls: Make at least one Key at Work call with branch or RM rotating among assigned branches.
- Lights Camera Action (LCA) Meetings: Attend at least one LCA meeting per assigned branch and discuss mortgage topic.
- Key Team Meetings: Attend at least one Key Team meeting fully prepared with referrals.
- Call Nights: Participate in at least one branch call night.
- Production Reviews: Meet with Branch Manager monthly to review mortgage production to goal results. Discuss commitments and plans for success for the next month based on the annual mortgage production goal. At the January review, discuss the annual goal and what it will take to achieve; how many referrals are needed for each application, how many applications are needed for each closing. Discuss commitments.
- COI Calls: COI calls should take place as part of the LO’s normal day in their assigned branch and should involve the branch staff.
- Mortgage Day: Conduct one Mortgage Day each month, rotating among assigned branches. Schedule two weeks in advance for event promotion as follows: attend LCA meeting to announce date and discuss event; provide flyers to branch for event promotion; and determine snacks to be provided if applicable.
- Affordable Housing Calls: Make at least one call focused on affordable housing (i.e., Non- profit organizations and Local Housing Authorities).
- Minimum of three (3) years experience as a loan officer in 1st mortgage production with an emphasis in Community Development lending.
- Bachelor’s degree in business related field or equivalent experience.
- Working knowledge of FNMA, FHLMC, FHA, VA, local state housing programs, TIL regulations, Equal Credit Opportunity Act, RESPA regulations, local and state real estate and finance laws.
- Excellent written and oral communication skills and ability to work in a team environment.
- Demonstrated strong customer service skills.
- Proficiency in sales and service techniques, including tele- consulting, prospecting and networking.
- Strong financial acumen.
Employees in this job are required to comply with all rules and regulations of The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (The SAFE Act). Employees hired or transferring into this position will need to meet the qualification requirements, in Key’s sole discretion, under Reg. Z, prior to acting as a loan originator in a consumer credit transaction secured by a dwelling. Qualification requirements include but are not limited to an assessment of overall financial responsibility, character, and general fitness through review of a criminal background check, credit report, and information about any administrative, civil, or criminal findings by any government jurisdiction.
Key traces its history back more than 160 years and is headquartered in Cleveland, Ohio. One of the nation’s largest bank-based financial services companies, Key has assets of approximately $95.1 billion. Key (NYSE: KEY) provides deposit, lending, cash management and investment services to individuals, small and medium-sized business under the name KeyBank National Association. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name
ABOUT THE BUSINESS:
Key Community Bank serves individuals and small to midsized businesses from Maine to Alaska through our 12-state network of over 1,000 branches, 1,300 ATMs, telephone banking and robust online and mobile platforms. KeyBank’s Consumer/Business Banking segment provides consumers and small business owners with straightforward banking solutions and personal finance expertise that helps them make confident financial decisions today and plan for tomorrow. Key Private Bank offers wealth planning that follows a consistent, disciplined approach guided by objective advice based on each unique situation. KeyBank Commercial Bank offers midsize business financial services that drive growth and profitability and help business owners identify new opportunities with products and services including deposit, cash management, investment services, commercial lending, equipment leasing, and asset-based lending.
KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
- Job Snapshot:
- Full-Time, Banking - Financial Services, Banking