CRA Mortgage Originator at M&T Bank

Richmond, Virginia, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Mortgage Lending, Financial ServicesIndustries

Requirements

Federal registration under the SAFE Act and adherence to its requirements
Associates degree and 2 years sales experience, OR in lieu of a degree, a combined minimum of 4 years higher education and/or relevant work experience, including a minimum of 2 years sales experience
Ability to travel extensively, including to prospective customers’ homes or business locations, with limited supervision
Stay informed of industry regulations and governmental requirements as they relate to CRA housing needs

Responsibilities

Originate mortgage applications within low-to-moderate income neighborhoods and to low-to-moderate income borrowers
Participate in Community Reinvestment Act (CRA) related activities and functions within M&T community bank regions
Work independently to cultivate new mortgage business
Market, service, and promote the bank's mortgage products
Follow-up on potential customers via travel or telephone
Market bank-wide proprietary CRA products (e.g., Get Started) with Retail Bank Network as well as outside organizations such as real estate firms, housing agencies, etc
Market agency-related products (FHA, VA, etc.) to low-to-moderate income borrowers and in low-to-moderate income neighborhoods
Interview applicants to collect and analyze information regarding their income, assets, debts, credit data, needs, desires, and earnings to determine loan risk
Independently assess applicant's creditworthiness
Issue pre-qualification statements of borrowers' eligibility
Determine which products best meet the customer’s needs and financial circumstances; advise on advantages/disadvantages of different products and appropriate mortgage programs
Make recommendations to customers regarding other bank products or alternative lending vehicles as needed
Negotiate terms and conditions of loans with mortgagors and bind the bank thereto
Ensure lending compliance with all origination procedures, bank policies, and regulatory requirements
Advise management on effective compliance strategies and potential modifications to corporate operating policies for regulatory compliance
Interact with various housing agencies and governmental entities focused on CRA initiatives
Meet with potential customers to ascertain financial needs related to CRA guidelines, first-time homebuyer guidelines, and mortgage opportunities
Represent the bank in the community and related functions to identify, develop, and promote additional business
Present seminars to general public and real estate agents to promote additional business and community outreach
Facilitate the bank’s CRA responsibilities with federal regulators and community citizens
Forge relationships with local housing agencies and groups specializing in CRA outreach programs
Establish and maintain federal registration requirements outlined in the SAFE Act

Skills

Mortgage Origination

CRA Compliance

SAFE Act

FHA Loans

VA Loans

Credit Analysis

Loan Negotiation

Customer Interviews

Loan Prequalification

Regulatory Compliance

M&T Bank

Full-service banking for individuals and businesses

About M&T Bank

M&T Bank provides a variety of banking services to individuals, small businesses, and larger companies. Their offerings include mortgage assistance, personal and business checking accounts, and mobile banking options. The bank primarily operates in the Northeastern and Mid-Atlantic regions of the United States, emphasizing community engagement and a focus on customer service. M&T Bank's business model is based on traditional banking practices, such as loans, deposits, and investment products, and it generates revenue through interest income and service fees. A key aspect that sets M&T Bank apart from its competitors is its commitment to community involvement, which includes allowing employees to volunteer and supporting local organizations. The recent merger with United Bank, N.A. has further expanded their services and market presence.

Buffalo, New YorkHeadquarters

1993Year Founded

IPOCompany Stage

Financial ServicesIndustries

10,001+Employees

Risks

Competition from fintechs could erode M&T Bank's market share among tech-savvy customers.

Integration challenges from the United Bank merger may disrupt operations.

Decreased prime rate could reduce interest income, impacting profitability.

Differentiation

M&T Bank emphasizes community engagement through its charitable foundation and volunteer programs.

The bank offers a wide range of traditional and digital banking services.

Recent merger with United Bank, N.A. expands M&T's market reach and service offerings.

Upsides

M&T Bank's $1.5 billion senior notes offering strengthens its financial position.

Decreased prime rate may attract more borrowers, increasing loan volume.

Shannon Lazare's appointment as New Jersey Regional President enhances local community engagement.

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