Assistant Loan Officer, Affordable Housing

Merchants Bank IN; Carmel (IN); Hybrid; USD 42,000 - 64,000; Full time

Benefits offered by this job

Health benefits

Vision benefits

Dental benefits

401K

ESOP

Tuition assistance

PTO

Job summary

Merchants Bank IN in Carmel, Indiana seeks an Assistant Loan Officer, Affordable Housing, to grow CRA lending and responsible homeownership. You will focus on business development, community engagement, and delivering excellent customer service while ensuring compliant, well-documented loan files.

This hands-on role offers mentorship from an experienced Affordable Loan Originator and opportunities to learn CRA programs and partnership with community groups to generate loan opportunities.

Qualifications

• Bachelor’s degree in finance, business, or related field preferred (or equivalent combination of education and experience)
• 1–2 years of experience in mortgage lending, sales, or financial services preferred
• Knowledge of CRA lending, affordable housing programs, or community development is a plus
• Strong interpersonal, communication, and sales skills
• Ability to build relationships within diverse communities
• Detail-oriented with strong organizational and time management abilities
• Proficiency in mortgage loan systems and Microsoft Office (Encompass or similar LOS preferred)
• Active NMLS license or ability to obtain required

Responsibilities

• Originating residential mortgage loans and building CRA-eligible opportunities
• Engaging with community organizations and real estate professionals
• Maintaining accurate loan files and documentation throughout the process
• Providing excellent customer service and guiding clients through the loan lifecycle
• Collaborating with underwriting, processing, and closing teams to ensure smooth transactions

Skills

Interpersonal skills

Sales skills

Mortgage lending knowledge

NMLS license

Education

Bachelor’s degree in finance or related field

Equivalent education/experience

Tools

Encompass LOS

Microsoft Office

Job description

Job Type

Full-time

Description

The Assistant Loan Officer, Affordable Housing, specializing in Community Reinvestment Act (CRA) lending, supports the growth of responsible homeownership by originating residential mortgage loans within targeted communities. This role focuses on business development, sales performance, community engagement, and delivering exceptional customer service while ensuring regulatory compliance and accurate documentation throughout the loan process. A key component of this role is hands‑on learning through mentorship, working closely with an experienced Affordable Loan Originator to develop product knowledge, sales skills, and community engagement expertise.

After one year, our Assistant Loan Officer, Affordable Housing will be able to do the following confidently and independently...

Learning & Mentorship Development

• Participate in a structured mentorship program with a senior Affordable Loan Originator
• Shadow experienced originators during client meetings, community events, and sales presentations
• Receive ongoing coaching in CRA lending strategies, community outreach, and consultative sales techniques
• Gradually assume increased responsibility in loan origination as skills and knowledge develop
• Engage in continuous learning related to affordable housing programs, CRA compliance, and mortgage products

Documentation & Compliance

• Accurately collect, review, and submit borrower documentation in accordance with underwriting guidelines
• Ensure compliance with all federal, state, and company policies, including CRA, Fair Lending, and regulatory requirements
• Maintain complete and accurate loan files within internal systems
• Assist in resolving documentation issues and clearing conditions in a timely manner
• Coordinate with Loan Originator, Underwriting, Processing, and Closing to ensure exceptional customer experience.

Customer Service

• Provide responsive, high-quality customer service throughout the loan lifecycle
• Address client questions and concerns promptly and professionally
• Coordinate closely with processing, underwriting, and closing teams to ensure a smooth transaction
• Maintain transparency and keep clients informed on loan status and next step
• Monitor application status and follow up with clients as needed.

Client Engagement

• Serve as a trusted advisor by guiding clients through the mortgage process from application to closing
• Educate borrowers on available loan programs, including CRA, first-time homebuyer, and down payment assistance options
• Build long-term relationships through consistent communication and follow-up
• Ensure a personalized and positive experience
• Assist clients in completing applications and signing documents

Business Development

• Develop and maintain relationships with community organizations, real estate professionals, builders, and local stakeholders to generate CRA-eligible loan opportunities
• Identify and engage prospective borrowers within low- to moderate-income (LMI) communities
• Participate in outreach events, financial literacy workshops, homebuyer workshops, and housing seminars to promote homeownership
• Support market growth strategies aligned with CRA goals and company objectives
• Originate residential mortgage loans by presenting appropriate loan options based on client financial needs
• Maintain a consistent pipeline of active prospects and referral sources

Requirements

• Bachelor’s degree in finance, business, or related field preferred (or equivalent combination of education and experience)
• 1–2 years of experience in mortgage lending, sales, or financial services preferred
• Knowledge of CRA lending, affordable housing programs, or community development is a plus
• Strong interpersonal, communication, and sales skills
• Ability to build relationships within diverse communities
• Detail-oriented with strong organizational and time management abilities
• Proficiency in mortgage loan systems and Microsoft Office (Encompass or similar LOS preferred)
• Active NMLS license or ability to obtain required

Work Environment

• Combination of office and field-based work
• Frequent attendance at community events and partner meetings, which may include evenings and weekends.
• Collaborative, team-oriented setting with direct mentorship support

Our Benefits

Health, Vision, Dental, 401K, ESOP, 100% Tuition Assistance, 4 weeks paid time off, plus a few more

About Merchants

Ranked as a top performing U.S. public bank by S&P Global Market Intelligence, Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple segments, including Multi-family Mortgage Banking that offers multi-family housing and healthcare facility financing and servicing; Mortgage Warehousing that offers mortgage warehouse financing; and Banking that offers retail and correspondent residential mortgage banking, agricultural lending, and traditional community banking. Merchants Bancorp, with $18.8 billion in assets and $11.9 billion in deposits as of December 31, 2024, conducts its business primarily through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Merchants Capital Investments, LLC, Merchants Capital Servicing, LLC, Merchants Asset Management, LLC, and Merchants Mortgage, a division of Merchants Bank of Indiana.

Merchants Bank and Merchants Capital have recently been honored with the 2025 USA Today Top Workplaces recognition, ranking 22nd nationally within the 500-999 employee category. This is the second year that Merchants has been recognized with this award. These accolades build on our strong history of workplace recognition, including being named a Best Place to Work in Indiana for seven consecutive years (2016–2022). For more information read the entire article here.