CRA Mortgage Lending Coordinator

Cathay Bank; El Monte (CA); On-site; USD 60,000 - 90,000; Full time

Job summary

Cathay Bank is seeking a Mortgage Lending Assistant to support the CMLO in originating residential mortgages for low to moderate income borrowers. You will help build relationships with realtors and developers, interview applicants, and prepare required disclosures to ensure compliance.

You will also assist in processing, document collection, and closing coordination, while promoting Cathay Bank's community-focused mortgage programs.

Qualifications

• Assist CMLO to originate residential mortgages for low to moderate income borrowers.
• Build relationships with realtors, builders, and developers to solicit loans.
• Interview applicants and collect information for applications.
• Prepare disclosures and ensure compliance with loan regulations.
• Maintain pipeline and follow up on trailing documentation.
• Represent Cathay Bank in the community and participate in events.
• Coordinate with escrow, underwriters, and closing agents to close loans.
• Assist CRA efforts and non-profit referrals related to housing programs.

Responsibilities

• Assist in building a loan pipeline and maintaining timely processing.
• Meet with applicants to gather required information for applications.
• Input loan data accurately into the processing system.
• Support mortgage sales team and CMLO in client outreach.
• Interact with branches, underwriters, and closing agents to close loans.
• Coordinate documentation from borrowers and third parties for closings.

Skills

Customer service

Relationship building

Communication skills

Team collaboration

Education

Bachelor's degree preferred

Tools

CRM software

Loan origination system

Job description

People Drive Our Success Are you enthusiastic, highly motivated, and have a strong work ethic? If yes, come join our team! At Cathay Bank - we strive to provide a caring culture that supports your aspirations and success. We believe people are our most valuable asset and we proudly foster growth and development empowering you to achieve your professional goals. We have thrived for 60 years and persevered through many economic cycles due to our team members' drive and optimism. Together we can make a difference in the financial future of our communities.

General Summary

Primarily work together with the VP, Community Mortgage Lending Officer (CMLO) and help manage residential mortgage loans for low to moderate income borrowers. When needed, the incumbent will also provide support to the Mortgage Sales Team. Promote Cathay Bank’s reputation as a diversity-focused lender by participating in community organizations and connecting with realtors that serve low to moderate income communities.

DIRECT REPORTS

• No Direct Reports

Essential Functions

• Train and learn under the guidance of the CMLO to eventually be able to originate conventional residential mortgages
• Assist the CMLO in building relationships and solicit residential mortgage loans through physical visits and contacts with realtors, builders and developers.
• Meet and interview applicants to develop information concerning their applications.
• Assists the CMLO prepare and process forms and required disclosures for residential loans to ensure they comply with applicable residential loan regulations and laws.
• Follow up current loans to ensure conformity with terms.
• Professionally represents Cathay Bank in the community; establish and build our brand.
• Conduct mortgage loan product presentation at Cathay Bank sponsored community events as needed.
• Assist in working in obtaining documentation/condition(s) needed from either the borrower, escrow, insurance, HOA needed to close in a timely manner
• Follow up on trailing documentation
• Review and work with loan prospects. The goal is to eventually maintain a pipeline of their own
• Work with the CRA Department in obtaining Down Payment Assistance approval
• Work with the CRA Department to maintain and grow the non-profit we currently have on our list that are not using our product
• Participate in related business development activities. Assist CMLO in presenting at Workshops and other CRA events.
• Assist customers to complete loan applications. Gather information and process each file from initial approval to closing in a timely manner.
• Act as a liaison between branches, underwriters, closing agents and other related parties.
• Follow up with customers and related parties on outstanding loan conditions, provide assistance to resolve processing problems.
• Ensure timely and accurate processing of all loans.
• Submit accurate information that constitutes a complete loan application as required by regulations.
• Input correct loan information into the system for processing. Ensure that all loan documentation is complete, accurate, verified and complies with Bank policy.
• Maintain pipeline report and notify management of status as needed.
• Work with non-profit organizations on potential referrals

Qualifications