Southern Bancorp

As a Community Development Financial Institution (CDFI), a special certificate on designated for institutions that serve predominantly underserved communities, Southern Bancorp combines traditional banking and lending services with financial development tools and public policy advocacy to help families and communities grow stronger.. The individual(s) will originate quality mortgage loans on 1-4 family properties for low to moderate income (LMI) and minority borrowers in partnership with supported external non-profit organizations.. This role requires knowledge of the Community Reinvestment Act (CRA), as it relates to lending, and knowledge of various grants and subsidy programs to fill affordable housing mortgage gap.. Conduct outreach training classes in financial literacy, mortgage, banking, home ownership. Understand the complexity of the partnerships with non-profit organizations in an effort to mitigate potential reputational risk from occurring

community development

Southern Bancorp is a different kind of bank. As a Community Development Financial Institution (CDFI), a special certificate on designated for institutions that serve predominantly underserved communities, Southern Bancorp combines traditional banking and lending services with financial development tools and public policy advocacy to help families and communities grow stronger. Inspired by the principle that building net worth drives economic opportunity, our mission is to be wealth builders for everyone in the communities we serve, with a focus on low-wealth and un(der)banked populations, as well as an emphasis on Black and Brown individuals. We are seeking Mortgage Community Development Lenders.
The individual(s) will originate quality mortgage loans on 1-4 family properties for low to moderate income (LMI) and minority borrowers in partnership with supported external non-profit organizations.
This role requires knowledge of the Community Reinvestment Act (CRA), as it relates to lending, and knowledge of various grants and subsidy programs to fill affordable housing mortgage gap. This role requires substantial knowledge of affordable housing programs and first-time homebuyer education programs.

The individual in this role must also have a comprehensive understanding of the following regulatory requirements:
Home Loan Disclosure Act
Real Estate Settlement Procedures
Reg. Z
Federal Truth in Lending
Fair Housing
HUD regulations
Client/FHLMC Requirements
Equal Credit Opportunity Act
Responsibilities:
Originate high quality mortgage loans which are typical in low-to-moderate income borrowers in order to help serve the housing needs of underserved communities
Increase mortgage loan volume, primarily focusing on CRA, low-to-moderate, and minority customers, through effective consultative selling
Act as a representative of the bank in the community by attending community meetings/events and providing training seminars to residents regarding loan application procedures and mortgage loan products and services
Work with non-profit partners to provide home buyer education, mortgage credit counseling and technical assistance
Identify appropriate community groups throughout the community and establish a plan for making contact
Serve on housing/credit/finance related boards, charitable/civic organizations or MBA committees on an ongoing basis
Provide input for the design of programs, participate in credit related training for consumers to enhance knowledge within the community to maximize the benefits of mortgage loans and services
Conduct outreach training classes in financial literacy, mortgage, banking, home ownership
Maintain extensive knowledge of Southern Bancorp’s product offerings
Identify potential loan applicants through referrals and make sales calls as appropriate in order to provide prospects with information on loan products and to solicit business as appropriate
Assist borrowers with the application process by providing direction in filling out forms and keeping the applicant informed of necessary documentation
Understand and remain educated on grant/subsidy programs available within market to ensure borrower receives maximum funding
Prepare loan status of each loan in individual pipeline to be given to non-profit housing partners if applicable
Interview and counsel loan applicants on the various mortgage loan programs offered by bank
Analyze financial status and credit on each potential borrower, and fully understand the contract of sale to ensure proper submission of application
Make sales calls to housing non-profits to maintain relationship and ensure for the steady flow of referrals
Report weekly on loan volumes to management, and produce all other applicable reports necessary to provide management with the success of the originating efforts as requested by management
Understand the complexity of the partnerships with non-profit organizations in an effort to mitigate potential reputational risk from occurring
Work on special projects as assigned by mortgage leadership team
Requirements
High School Diploma or equivalent required; bachelor’s degree is preferred
Two years’ experience in community development lending or minority mortgage lending with a focus on bridging the homeownership gap of underserved communities
Must have experience with broad program & mortgage investor guidelines
Housing counseling, financial planning and mortgage credit counseling experience
Good listener and self-starter with demonstrated ability to work with minimal hands-on direction
Must have excellent interpersonal skills to represent the Southern in a positive way in dealing with customers and other employees
Must have the ability to travel within market and must possess and maintain a valid driver’s license and a vehicle with appropriate insurance coverage
Fluency in a second language is preferred but not required
Physical/Sensory Requirements: Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions
Must live in the state of Tennessee
What Southern Bancorp offers employees:
A positive impact on Your Future:
Discounted rate on primary home mortgage
401(k)/Roth plan with immediate eligibility and employer match up to 6%
Employee stock ownership plan
Credit and housing counseling including free financial education tools
Benefits to improve your health:
No deductible medical insurance plan
Dental and vision insurance
Employer paid life and long-term disability insurance
Flexible Spending Accounts
The opportunity to nurture your well-being:
Paid holidays and paid time off
Bonus plan
Opportunity for merit raises
Employee reward and recognition programs
Community service opportunities
Southern Bancorp is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, age, sexual orientation, gender identity, gender expression, status as a protected veteran, among other things, or status as a qualified individual with disability. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
As a Community Development Financial Institution, Southern Bancorp desires its workforce to reflect the diversity of the customers and communities that we serve. Racial and ethnic minorities, people from working class backgrounds, women and LGBTQ people are often underrepresented in many financial service industry professions. Therefore, we strongly encourage applications from people with these identities or who are members of other marginalized communities.

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