CRA Loan Specialist at Fifth Third Bank

St Charles, Illinois, United States

Apply Now

Not SpecifiedCompensation

Junior (1 to 2 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, MortgageIndustries

Requirements

High school diploma or equivalent (mandatory)
Four-year college degree (preferred)
Knowledge of conventional and/or government lending guidelines
Knowledge of residential mortgage processing, underwriting, and closing procedures
Knowledge of federal lending regulations governing real estate lending
SAFE Act Registration required at the time of employment through the Nationwide Mortgage Licensing System (NMLS)

Responsibilities

Develop CRA prospects and referral contacts (realtors, builders, professional and personal contacts)
Maintain knowledge of Fifth Third Mortgage Company's policies, procedures, and available loan products
Conduct and coordinate homebuyer-training seminars for CRA potential applicants
Handle employee loans and participate in Fifth Third-coordinated functions
Complete Fannie Mae form 1003 on the laptop
Utilize the laptop for communication, accessing rates, credit reports, Loan Prospector responses, and transmitting loans to LOMAS
Collect appropriate documentation from applicants and deliver loan packages within defined timeframes
Manage the loan pipeline through closing and complete required management reports
Communicate with applicants and referral sources, providing timely updates
Maintain high levels of customer service and manage expectations
Attend and participate in Consumer Lending meetings as required
Operate within the Bank's risk appetite, identifying, assessing, managing, monitoring, and reporting risks

Skills

Key technologies and capabilities for this role

Mortgage OriginationCRA LendingNMLSFannie Mae 1003Loan ProspectorLOMASUnderwritingLoan ProcessingFederal Lending RegulationsCustomer Service

Questions & Answers

Common questions about this position

What is the salary for the CRA Loan Specialist position?

This information is not specified in the job description.

Is this a remote position or does it require office work?

This information is not specified in the job description.

What skills and knowledge are required for this role?

Required knowledge includes conventional and/or government lending guidelines, residential mortgage processing, underwriting, and closing procedures, and federal lending regulations governing real estate lending. A high school diploma or equivalent is mandatory, with a four-year college degree preferred. SAFE Act Registration through the Nationwide Mortgage Licensing System (NMLS) is required at the time of employment.

What are Fifth Third Bank's values and mission?

The mission is to make banking a Fifth Third better® by connecting great people to great opportunities. Values emphasize being accountable for always doing the right thing for customers and colleagues, ensuring actions and behaviors drive a positive customer experience.

What makes a strong candidate for the CRA Loan Specialist role?

Strong candidates will have knowledge of lending guidelines, mortgage processing, and federal regulations, along with SAFE Act registration. Experience in sales, prospect development, customer service, and risk management in mortgage origination is key.

Fifth Third Bank

Provides banking, loans, and wealth management services

About Fifth Third Bank

Fifth Third Bank offers a variety of financial services, including personal and business banking, loans, mortgages, credit lines, and insurance products. Their services cater to individual consumers, small businesses, and commercial clients, providing comprehensive solutions for managing finances. The bank generates revenue through interest on loans, service fees, and commissions from insurance and investment products. Unlike many competitors, Fifth Third Bank emphasizes community engagement and financial education, providing resources to help clients improve their financial literacy. The goal of Fifth Third Bank is to support clients in achieving their financial objectives while fostering a strong connection with the communities they serve.

Cincinnati, OhioHeadquarters

1858Year Founded

IPOCompany Stage

Social Impact, Financial ServicesIndustries

10,001+Employees

Benefits

Health Insurance

Paid Sick Leave

Paid Holidays

Performance Bonus

Flexible Work Hours

Risks

Rising interest rates may decrease demand for loans and mortgages.

Competition from fintechs like Robinhood threatens Fifth Third's wealth management sector.

Sophisticated cybersecurity threats pose risks to customer data and trust.

Differentiation

Fifth Third Bank offers comprehensive financial solutions for individuals and businesses.

The bank emphasizes community engagement and financial education for client empowerment.

It provides a wide range of insurance products, including life, health, and disability.

Upsides

Increased demand for digital banking boosts Fifth Third Bank's online service offerings.

Partnerships with fintech enhance technological capabilities and customer experience.

Growing interest in sustainable finance attracts environmentally conscious customers.

Land your dream remote job 3x faster with AI

Try Jobo Free