Sr CRA Specialist at Fifth Third Bank

Cleveland, Ohio, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Mortgage, Financial ServicesIndustries

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
Demonstrated organizational skills
Strong written and verbal communications skills
Demonstrated teamwork and customer service skills
Proven computer skills
Basic sales technique skills
Strong desire to excel in a competitive environment
SAFE Act registration at the time of employment through the Nationwide Mortgage Licensing System (NMLS)

Responsibilities

Performs a wide range of duties relating to the origination of residential 1st mortgage loans for branch offices and outside referrals
Meets standards and objectives defined by management for mortgage loan sales and cross-selling objectives
Focuses on selling CRA products and services, targeting low to moderate-income individuals and areas, as well as non-profit organizations
Assumes overall responsibility for the residential mortgage loan from application to closing
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures
Ensures actions and behaviors drive a positive customer experience
Identifies, assesses, manages, monitors, and reports risks of all types while operating within the Bank's risk appetite
Leads Internal and External Sales and Partnership meetings
Assists CRA MLO colleagues with General Loan Support and Business Development
Maintains membership in real estate trade association and/or nonprofit partners board or committee involvement
Maintains and grows internal relationships with Membership Advantage, Community Economic Development team, Business Resource Groups, and Financial Center One Bank Teams
Develops and maintains CRA prospects & referral contacts (realtors, builders, professional and personal contacts)
Acts as peer mentor to Newly Hired CRA MLOs
Maintains knowledge of Fifth Third Mortgage Company's policies and procedures
Maintains knowledge of available loan products, processing procedures, and underwriting and general departmental guidelines
Conducts and coordinates homebuyer-training seminars for CRA potential applicants
Handles employee loans and participates in appropriate Fifth Third-coordinated functions to promote employee loans
Follows defined protocol for escalation of exceptions
Takes applicant applications by completing Fannie Mae form 1003 on the laptop
Utilizes the laptop for communication and access of daily rates, applicant credit reports, Loan Prospector responses, and transmitting the loan to LOMAS
Collects appropriate documentation from each applicant and delivers loan package in the time frames set by management
Manages pipelines for all originated loans through closing and completes required management reports
Communicates with applicants and/or referral sources by providing timely updates and progress reports
Maintains high levels of customer service while managing each applicant's and support staff's expectations
Attends and participates in all Consumer Lending meetings as required by management

Skills

Key technologies and capabilities for this role

Mortgage OriginationCRA ProductsLoan SalesBusiness DevelopmentRisk ManagementUnderwritingLoan ProcessingReferral NetworkingMentoringReal Estate PartnershipsNonprofit Engagement

Questions & Answers

Common questions about this position

What is the employment type for the Sr CRA Specialist position?

This is a full-time position.

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

This information is not specified in the job description.

What are the key responsibilities or skills required for this role?

The role involves originating residential 1st mortgage loans, focusing on CRA products for low to moderate-income individuals and areas, leading sales meetings, maintaining relationships with referral sources, managing loan pipelines from application to closing, and maintaining knowledge of loan products and procedures.

What is the company culture like at Fifth Third Bank for this role?

The culture emphasizes doing the right thing for customers and colleagues, driving positive customer experiences, openly exchanging ideas, elevating concerns, and managing risks while achieving results within the bank's risk appetite.

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

Strong candidates should have experience in mortgage loan origination, especially with CRA products targeting low to moderate-income areas, skills in building referral networks with realtors and non-profits, ability to mentor peers, and knowledge of loan processing and underwriting; SAFE Act registration is required at the time of employment.

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.

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