2 Southern Bancorp Jobs
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Mortgage Community Development Lender (remote or hybrid)
$52k-71k (estimate)
Full Time | Banking
1 Week Ago
Southern Bancorp is Hiring a Remote Mortgage Community Development Lender (remote or hybrid)
Southern Bancorp is a different kind of bank. As a Community Development Financial Institution (CDFI), a special certificate on designated for institutions that serve predominantly underserved communities, Southern Bancorp combines traditional banking and lending services with financial development tools and public policy advocacy to help families and communities grow stronger. Inspired by the principle that building net worth drives economic opportunity, our mission is to be wealth builders for everyone in the communities we serve, with a focus on low-wealth and un(der)banked populations, as well as an emphasis on Black and Brown individuals. Job SummaryWe are seeking Mortgage Community Development Lenders. The individual(s) will originate quality mortgage loans on 1-4 family properties for low to moderate income (LMI) and minority borrowers in partnership with supported external non-profit organizations.
This role requires 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. This role requires substantial knowledge of affordable housing programs and first-time homebuyer education programs.
The individual in this role must be in AL, AR, FL, GA, LA, MS, MO, NC, SC, TN or TX.
The individual in this role must also have a comprehensive understanding of the following regulatory requirements:
This role requires 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. This role requires substantial knowledge of affordable housing programs and first-time homebuyer education programs.
The individual in this role must be in AL, AR, FL, GA, LA, MS, MO, NC, SC, TN or TX.
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
- HUD regulations
- Client/FHLMC Requirements
- Equal Credit Opportunity Act
- Originate high quality mortgage loans which are typical in low-to-moderate income borrowers in order to help serve the housing needs of underserved communities
- Increase mortgage loan volume, primarily focusing on CRA, low-to-moderate, and minority customers, through effective consultative selling
- 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, mortgage credit counseling and technical assistance
- Identify appropriate community groups throughout the community and establish a plan for making contact
- Serve on housing/credit/finance related boards, charitable/civic organizations or MBA committees on an ongoing basis
- 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
- Conduct outreach training classes in financial literacy, mortgage, banking, home ownership
- Maintain extensive knowledge of Southern Bancorp’s product offerings
- 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
- Prepare loan status of each loan in individual pipeline to be given to non-profit housing partners if applicable
- 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 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 mortgage leadership team
- High School Diploma or equivalent required; bachelor’s degree is preferred
- Two years’ experience in community development lending or minority mortgage lending with a focus on bridging the homeownership gap of underserved communities
- Must have or receive NMLS clearance
- Must have experience with broad program & mortgage investor guidelines
- Housing counseling, financial planning and mortgage credit counseling experience
- Good listener and self-starter with demonstrated ability to work with minimal hands-on direction
- Must have excellent interpersonal skills to represent the Southern in a positive way in dealing with customers and other employees
- Must have the ability to travel within market and must possess and maintain a valid driver’s license and a vehicle with appropriate insurance coverage
- Fluency in a second language is preferred but not required
- Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions
- Discounted rate on employee home loan
- 401(k)/Roth plan with immediate eligibility and employer match up to 6%
- Employee stock ownership plan
- Credit and housing counseling including free financial education tools
- No deductible medical insurance plan
- Dental and vision insurance
- Employer paid life and long-term disability insurance
- Flexible Spending Accounts
- Paid holidays and paid time off
- Bonus plan
- Opportunity for merit raises
- Employee reward and recognition programs
- Community service opportunities
Job Summary
JOB TYPE
Full Time
INDUSTRY
Banking
SALARY
$52k-71k (estimate)
POST DATE
05/20/2024
EXPIRATION DATE
06/15/2024
WEBSITE
banksouthern.com
HEADQUARTERS
WEBB, MS
SIZE
200 - 500
FOUNDED
1986
CEO
DIANNA MELTON
REVENUE
$50M - $200M
INDUSTRY
Banking
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About Southern Bancorp
A Bank on a Mission: In 1986, then Governor Bill Clinton and the Winthrop Rockefeller Foundation announced an initiative to end decades of economic decline in rural Arkansas by creating new trends of investment in people, jobs, business and property. Southern Bancorp, a community development bank holding company, and its family of nonprofit development affiliates would emerge from that initiative. A consortium of private foundations, governmental entities, corporations and concerned individuals would come together later that year to incorporate Southern Bancorp. Southern is a bank on a mission ...
to create economic opportunity in rural America by investing with both financial and human capital, empowering individuals and businesses to grow and thrive and thereby transforming these communities into self-sustaining models of positive capitalism. Were looking for partners to help us reach even more communities so that we can change the face and the fate of rural America. For more information on Southern Bancorp, please visit our websites: https://banksouthern.com http://southernpartners.org Feel free to contact us if you would like to get involved at southern@banksouthern.com
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