The Hartford Community Loan Fund (HCLF) has expanded its geographic investment area to include New Britain, Manchester, and other towns in the Greater Hartford region. To facilitate effective expansion into the region, HCLF is seeking an individual for the full-time position of Loan Officer/ Underwriter. The Position Summary is as follows:
Position Summary: The Loan Officer / Underwriter (LO) performs a range of lending activities to originate and underwrite mortgage loans for single, multi-family and mixed-use properties, assist in the marketing of HCLF’s construction loan products as well as permanent loan products funded by other lenders. The LO reports to the Director of Mortgage Lending and works closely with HCLF staff members who assist in processing, closing and servicing loans.
Responsibilities: Following are responsibilities of the LO, which include, but are not limited to:
Maintain an active registration status with NMLS (Nationwide Mortgage Licensing System and Registry)
Foster and cultivate business relationships with potential stakeholders such as realtors, current/potential homeowners, investors, developers, contractors, attorneys, accountants, etc. to generate mortgage business to meet sales goals and objectives
Increase visibility of HCLF loan products in underserved areas to underserved populations through marketing and new business development activities
Respond to all inquiries in a prompt and courteous manner. Interview prospective loan applicants and assess their borrowing needs. Screen loan requests based on institutional policies and on types of loans offered by the institution. Explain loan products based on how they work and how they will benefit the applicants’ needs
Initiate and complete the loan application, issue required disclosures, commission property appraisal/ inspection, etc.
Provide technical assistance to customers on housing finance, subsidy sources, property/construction management, risk mitigation and other housing-specific topics
Ensure collection of all supporting documentation and process the application
Understand compliance issues including the timelines of mortgage loan processing. Communicate effectively with customers, realtors, HCLF outside counsel and staff as well as other stakeholders to efficiently process and close the loan
Prepare Loan Approval Summary recommendations for management and Loan Committee review in accordance with the HCLF underwriting guidelines. Present the final Loan Approval Summary to Loan Committee for approval
Prepare Commitment Letters based on Loan Committee decisions and coordinate loan closings with the assistance of HCLF staff and outside counsel; issue required closing disclosures and review closing documents for accuracy
Conduct loan and construction monitoring site visits before and after closing
Keep abreast of industry standards, challenges, and changes influencing lending activities. Participate in annual audit process and other reviews and monitoring visits conducted by federal/state agencies, participating lenders, and/or investors
Perform other duties and tasks as assigned.
Requirements: The successful candidate will possess the following qualifications:
Bachelor’s Degree
NMLS licensing as Mortgage Loan Originator (MLO)
Minimum of two years of recent work experience as MLO
Knowledge of and experience with real estate finance and legal procedures related to real estate transactions, property transfers, and collateral valuation; general understanding of financial transactions, financial statements and audits
Commitment to social justice issues and high quality affordable housing
Strong written and verbal communication skills; ability to make effective public presentations to a range of audiences
Ability and willingness for moderate local travelling
Excellent organizational skills and ability to prioritize and manage multiple tasks/projects and meet deadlines
Proficient in Microsoft Office software program, use of email and internet, and other programs, as required
Ability to protect and maintain confidentiality of all business relationships.
Compensation and Benefits: Compensation is a combination of fixed salary, plus commission on the closed commitments originated by the Loan Officer, with final compensation based on experience. HCLF’s benefit package includes: health/dental coverage, flexible spending accounts, disability and life insurance, and 403(b) contributions.
Equal Opportunity Employment Information: HCLF is an equal opportunity provider and employer. HCLF does not discriminate in hiring or employment practices on the basis of race, color, ethnicity, gender, national origin, age, religion, sexual orientation, disability, marital or familial status, ancestry, or status as a veteran. HCLF is committed to maintaining a multicultural work environment. Women and minorities are strongly encouraged to apply.
About Hartford Community Loan Fund: We’re the good guys in the financial services industry – a Community Development Financial Institution (CDFI) with a focus on promoting and providing affordable and just capital for the benefit of low-to-moderate income and underserved residents of Hartford, New Britain and other HCLF investment areas of Connecticut. We are focused on providing financing that creates and rehabs affordable housing. More information about HCLF can be found at our website: www.hartfordloans.org.
Interested and qualified candidates should submit a cover letter with resume to N.Sobhan@HartfordLoans.org. No faxes or phone calls please. HCLF is an equal opportunity employer.