Loan Originations Manager

​​

JOB TITLE: Loan Originations Manager

DEPARTMENT: Lending

REPORTS TO:  Director of Lending and Servicing 

FLSA: Exempt

SALARY RANGE: $70,000 - $80,000

About the Center

The Center for New York City Neighborhoods, Inc. (the “Center”) is a not-for-profit that promotes and protects affordable homeownership so middle- and working-class families can build strong, thriving communities. We meet the diverse needs of homeowners by offering free, high-quality housing counseling and services, coordinating a network of service providers across the city, and providing free or low-cost loans for homeownership. 

Through our work, the Center supports and expands homeownership across New York by developing programs that focus on underserved communities. We have successfully delivered over $500 million to homeowners in several state-wide interventions, in response to physical, financial, and health crises, working with both the city and state to expand protections for New Yorkers. By helping homeowners individually and systematically, the Center achieves lasting change. To date, the Center, together with its partners, has helped more than 250,000 low- and moderate-income (LMI) families with a median annual income of $46,000 keep their homes and gain financial stability, preserving over $10 billion in neighborhood property value across New York. 

Position Summary 

The Center’s wholly-owned subsidiary, Community Development Financial Institution (CDFI) Sustainable Neighborhoods (“SN”) was founded in the wake of the 2008 foreclosure crisis to advance homeownership preservation within disadvantaged communities.  SN originates and services innovative and affordable loan products to homeowners who traditional lenders consider “unbankable” because of poor credit or default due to predatory lending or other crises.  

The Loan Originations Manager must be committed to SN’s mission of supporting underserved homeowners and homebuyers to retain homeownership through household economic shocks, maintain healthy and safe living conditions, and build assets and intergenerational wealth.  

The Loan Originations Manager is required to have a Mortgage Loan Originator (MLO) license and is responsible for securing loan file financial documents from potential borrowers, analyzing loan file data, and consulting with prospective borrowers to educate them on varying loan products.  

Aside from these main tasks, the Program Manager is expected to be fully familiar with and adhere to all state and federal regulatory requirements.

Responsibilities include, but are not limited to:

• Obtain all required documentation from applicants to accurately disclose new residential mortgage applications, develop, and maintain contact with applicants throughout the loan origination process.  
• The Loan Originations Manager will deploy nontraditional loan products, including interest-free, non-amortizing mortgage loans with no monthly payments to prevent foreclosure and heirs property; affordable loans to conduct home repairs or make homes resilient to climate change; and down payment assistance programs on favorable terms.

• Collaborate with non-profit partners, the Center Program Delivery team, and other internal and external stakeholders to ensure a smooth lending experience for all applicants, including for emergency and hardship requests.
• Collect and analyze prospective borrower income, assets, and liabilities, background checks, and loan application documents to determine creditworthiness.
• Counsel borrowers to understand the pros and cons of different loan products to determine which is best for them.
• Interact with applicants, processors, and underwriters to ensure a smooth transaction.
• Review the loan process by monitoring loan status, term conformity, and regulatory guidelines.
• Utilize common mortgage loan origination software.
• Adhere to confidentiality policies and privacy laws, maintaining accurate and secure records of all mortgage transactions.
• Prepare and submit loan applications to processing and/or underwriting, track progress, and communicate with underwriters and relevant parties. 
• Prospect, develop, and maintain relationships with potential new business referral partners such as realtors, builders, bank colleagues, and the community at large.
• Maintain an active pipeline and meet or exceed production standards.
• Other duties as assigned.

Skills & Qualifications

A successful Loan Originations Manager needs a combination of technical skills, interpersonal abilities, and knowledge of the mortgage industry and regulations.  Key qualifications include strong communication, analytical skills, and attention to detail, along with a comprehensive understanding of loan programs and compliance requirements.  

A state-specific MLO license is required.

Education & Training

• Associate's degree or higher
• Federal law requires new licensed MLO’s to complete at least 20 hours of education approved by the NMLS, including instruction on federal mortgage-related laws, ethics (including fraud, consumer protection, and fair lending), and lending standards for nontraditional mortgage products.

• Licensed MLO’s must comply with all relevant state and federal regulatory requirements, stay informed of changes in the mortgage industry to provide accurate advice and information to applicants, secure records of all mortgage transactions in the Loan Operating System  (LOS) , and timely upload all documentation.

Values

• Demonstrate Ownership by showing initiative, active problem solving, being solution-oriented, acting conscientiously, and putting team results above individual accomplishments 
• Demonstrate Growth Mindset through resilience, humility, engaging in expansive thinking, and showing curiosity and openness to learning
• Work collaboratively by demonstrating the ability to work in teams, exhibiting emotional