The Affordable Housing Loan Officer plays a pivotal role in facilitating access to affordable housing financing for low-to-moderate income individuals and families. The role involves guiding clients through the loan application process, assessing their financial eligibility, and ensuring compliance with affordable housing loan programs and regulations. The officer collaborates with community partners to promote affordable housing initiatives and expand outreach.
Key Responsibilities
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Loan Origination and Counseling:
- Assist clients in understanding affordable housing loan options, eligibility requirements, and repayment terms.
- Counsel clients on financial management, credit improvement, and housing readiness.
- Support clients in preparing and submitting complete loan applications.
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Loan Assessment and Processing:
- Analyze applicants' financial information to determine eligibility for affordable housing loans.
- Ensure all loan documentation complies with federal, state, and local regulations.
- Work with underwriters to finalize loan approvals and coordinate funding.
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Community Engagement:
- Collaborate with community organizations, nonprofits, and housing agencies to expand affordable housing opportunities.
- Organize workshops or seminars to educate the public about affordable housing programs.
- Develop relationships with local stakeholders to identify potential clients and partnerships.
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Compliance and Reporting:
- Maintain up-to-date knowledge of affordable housing policies, loan programs, and compliance requirements.
- Prepare detailed reports on loan applications, approvals, and program impact.
- Ensure adherence to all ethical standards and lending practices.
Qualifications
- Education: Bachelor’s degree in finance, business administration, or a related field (or equivalent experience).
- Experience:
- 2+ years of experience in mortgage lending, community development, or affordable housing programs.
- Familiarity with government-backed loan programs (e.g., FHA, USDA, VA) and affordable housing initiatives.
- Skills:
- Strong understanding of lending practices and regulatory requirements.
- Excellent communication, interpersonal, and financial counseling skills.
- Proficiency in loan processing software and financial analysis tools.
- Certifications: Preferred certifications include HUD Housing Counselor Certification or Mortgage Loan Originator (MLO) license.
Key Competencies
- Client-centric mindset with a passion for community development.
- Analytical skills to assess financial data and eligibility criteria.
- Ability to build trust and maintain confidentiality.
- Strong organizational skills to manage multiple applications and deadlines effectively.
Work Environment
- Office-based with occasional travel for community outreach events, workshops, and client meetings.
- Flexible work hours may be required to meet client needs.
Salary and Benefits
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