Assistant Loan Officer, Affordable Housing

Job TypeFull-timeDescriptionThe 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 DevelopmentParticipate in a structured mentorship program with a senior Affordable Loan OriginatorShadow experienced originators during client meetings, community events, and sales presentationsReceive ongoing coaching in CRA lending strategies, community outreach, and consultative sales techniquesGradually assume increased responsibility in loan origination as skills and knowledge developEngage in continuous learning related to affordable housing programs, CRA compliance, and mortgage productsDocumentation & ComplianceAccurately collect, review, and submit borrower documentation in accordance with underwriting guidelinesEnsure compliance with all federal, state, and company policies, including CRA, Fair Lending, and regulatory requirementsMaintain complete and accurate loan files within internal systemsAssist in resolving documentation issues and clearing conditions in a timely mannerCoordinate with Loan Originator, Underwriting, Processing, and Closing to ensure exceptional customer experience. Customer ServiceProvide responsive, high-quality customer service throughout the loan lifecycleAddress client questions and concerns promptly and professionallyCoordinate closely with processing, underwriting, and closing teams to ensure a smooth transactionMaintain transparency and keep clients informed on loan status and next stepMonitor application status and follow up with clients as needed. Client EngagementServe as a trusted advisor by guiding clients through the mortgage process from application to closingEducate borrowers on available loan programs, including CRA, first-time homebuyer, and down payment assistance optionsBuild long-term relationships through consistent communication and follow-upEnsure a personalized and positive experienceAssist clients in completing applications and signing documentsBusiness DevelopmentDevelop and maintain relationships with community organizations, real estate professionals, builders, and local stakeholders to generate CRA-eligible loan opportunitiesIdentify and engage prospective borrowers within low- to moderate-income (LMI) communitiesParticipate in outreach events, financial literacy workshops, homebuyer workshops, and housing seminars to promote homeownershipSupport market growth strategies aligned with CRA goals and company objectivesOriginate residential mortgage loans by presenting appropriate loan options based on client financial needsMaintain a consistent pipeline of active prospects and referral sourcesRequirementsWhat we are looking for...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 preferredKnowledge of CRA lending, affordable housing programs, or community development is a plusStrong interpersonal, communication, and sales skillsAbility to build relationships within diverse communitiesDetail-oriented with strong organizational and time management abilitiesProficiency in mortgage loan systems and Microsoft Office (Encompass or similar LOS preferred)Active NMLS license or ability to obtain requiredWork Environment...Combination of office and field-based workFrequent attendance at community events and partner meetings, which may include evenings and weekends. Collaborative, team-oriented setting with direct mentorship supportOur Benefits: Health, Vision, Dental, 401K, ESOP, 100% Tuition Assistance, 4 weeks paid time off, plus a few moreAbout MerchantsRanked 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.