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- Troy, MI
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CRA Community Development Lending Specialist
Flagstar Bank • Troy, MI
Posted 7 days ago
Other Great Industries
Position TitleCRA Community Development Specialist
Job SummaryReporting to the CRA Director, the Community Development Loan Specialist will drive the expansion of the Bank's existing community development loan portfolio, focusing exclusively on eligible activities to meet the bank’s CRA lending objectives. This position will work collaboratively with the CRA, Retail and Residential Mortgage, Consumer, Commercial, Business Banking, Small Business, and Small Business Administration lending areas to guide the development and implementation of a program to generate increased consumer and business loan application volume for low-to-moderate income individuals, households and communities, including majority-minority communities, within the bank’s CRA assessment area.
- Develop and expand relationships with not-for-profit entities, community organizations, affordable housing agencies, developers, local business associations, and government agencies to identify community development lending opportunities within the bank’s assessment areas, and in majority-minority geographies and demographics that help the bank meet its’ CRA and Fair Lending goals.
- The Community Development Lending Specialist is expected to call on government sponsored entities and (private) not-for-profit housing agencies supporting low-to-moderate income housing interests and initiatives to generate leads (i.e., loan applications) and make referrals to line of business partners in, home lending, retail, small business and commercial lending.
- Assess the need for community development investment and financial service needs in distressed or underserved communities by actively participating in a variety of community outreach, business development, and networking functions and activities.
- Facilitate community conversations and town halls with diverse groups to share information and resources as well as collect information that will inform the planning and implementation of community strategies, initiatives and program investments.
- Source opportunities to commercial loan department for Low Income Housing Tax Credit and New Market Tax Credit opportunities.
- Conduct internal and external presentations and trainings to internal and external clients.
- Assist the CRA Director in structuring community development impact initiatives that require the coordination of multiple, diverse stakeholders in the effort to revitalize distressed community areas and demographics within the bank’s CRA assessment areas.
- Assist in representing the bank in special CRA loan programs and multi-bank collaborative as a subject matter expert.
- Assist CRA Director in analyzing and developing new programs, products and delivery systems to meet community credit needs as required to meet CRA goals.
- Liaise with local governments and community development organizations to ensure that the Bank's presence is known and respected in the community.
- Plan, and conduct outreach activities in low-to-moderate income communities within the banks assessment areas, and in primarily minority communities to generate leads, and to create a pipeline of qualified borrowers within home lending, small business and commercial lines of business to meet the bank’s CRA goals.
- Create opportunities to drive business through sponsored community events, business information workshops, and financial literacy seminars.
- Actively market campaigns and promotions applicable to low-to-moderate income and majority-minority geographies and demographics.
- Work with internal business partners to ensure engagement of associates in community development service/outreach initiatives, including associated correspondence, training, monitoring, and reporting of CRA qualified activities.
- Collects, assess and maintains data for reportable community development loans, small business and community development service activity on CRA reporting systems.
- Performs file reviews of commercial loans for coverage and reporting under the HMDA/CRA requirements.
- Ensures that community development activities and documentation meet CRA examination requirements.
- Participate in Community Reinvestment Act performance assessment/analysis, includes meetings with line of business partners and preparing rudimentary to intermediate written assessment results.
- Other responsibilities as assigned to support specific department business needs, e.g., external and internal audits, etc.
- Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.
- Bachelor’s Degree required in Business or other related field of study.
- Prior CRA experience preferred
- 10 years of experience in Community development banking and/or commercial lending experience; and/or CRA focused role
- Knowledge of the community groups in our marketplace and knowledge of credit underwriting requirements of FHLB for the HOP and AHP programs
- Basic knowledge of mortgage lending programs, including FNMA, FHLMC, FHA, and VA
- Knowledge of the CRA Act and it’s regulations
- Extensive experience with non-profit community development organizations
- Ability to read and understand regulations, prepare reports using Excel and PowerPoint, ability to make sound and well-reasoned decisions and judgments
- Demonstrated ability to use discretion and judgment in making sound and well-reasoned decisions and recommendations as it relates to the Bank’s CRA performance
- Demonstrated experience engaging with diverse communities
- Demonstrated ability to work well in a team environment
- Demonstrated ability to follow company policies, guidelines and procedures
- Strong communication, interpersonal and networking skills
- Position will entail travel of 40-50% or more, as needed in the community
Internal Use Only: Band F
Job ID: 02360
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