Mortgage Loan Originator

DevNW and our CDFI partner, Community Lending Works (CLW) are fostering vibrant, inclusive communities by prioritizing housing, asset development, wealth building, and small business development. To do this work we are deconstructing pervasive systems of oppression such as racism, classism, or sexism that maintain persistent disparities and perpetuate deep imbalances in power, opportunity, and wealth.

We are looking to add a Mortgage Loan Originator to our team to assist low- to moderate-income homebuyers in accessing the mortgage loans they need to achieve and maintain homeownership.

Salary Range: $73,000-$90,000 with benefits, exempt
Location: Any DevNW location; hybrid position (mostly working from home) with occasional office access across all DevNW offices.
Schedule: Choice of 4/10s, 5/8s, 4/9s 4 for baseline schedule; flexibility (including limited evening/weekend hours) outside of the typical schedule to meet client needs.

The Mortgage Loan Originator's critical contributions to this work are the following:
* Launch and build out a new first mortgage product in the state of Oregon for buyers of Community Land Trust (CLT) homes, by funding up to 50 transactions with identified community partners in the first year. This is a pilot program for an accelerated wealth-building mortgage (20 year rather than 30 year term) for buyers of shared appreciation homes.
* Help first time buyers (especially those form communities historically excluded from homeownership) realize and maintain their homeownership goals - while also demonstrating the success of the pilot and creating a stable mortgage loan fund – by identifying and seeking to overcome key patterns and challenges encountered by our borrowers when seeking mortgage capital, as well as the obstacles organizations face in originating and servicing mortgage loans.
* Originate, service, and oversee the DevNW slate of ‘silent-second’ mortgage loans through the Home Repair Lending Program and the Down Payment Assistance programs, including for CLT homebuyers and low-moderate income buyers and owners throughout our communities.

It is CRITICAL that you have…
• Current Oregon state mortgage Loan originator license and NMLS SAFE act compliant loan originator status.
• Minimum of 2 years of mortgage professional experience.
• Experience originating different mortgage products (conventional, FHA, VA, USDA loans)
• Strong understanding of Federal and state mortgage laws and regulations
• Ability to effectively explain the home buying process and mortgage financing process to first time homebuyers.

• Demonstrate ability to work with people of diverse racial/ethnic and socio-economic backgrounds and people whose primary language is not English.
• Ability to analyze a borrower’s financial situation, including income, assets, debt, and credit history, to determine eligibility for various mortgage products.
• Demonstrated ability to efficiently and effectively manage loan requests in a fast-paced, time-sensitive environment.
• Strong interpersonal and communication skills to explain complex financial concepts and guide clients through the loan process.
• Loan originators must follow strict ethical standards to ensure borrowers receive honest and transparent information.
• Demonstrated experience in collaborating with a diverse range of clients and community partners.
• Ability to identify system and product improvements of the pilot program and work collaboratively with our partners to implement the changes.

Example tasks and responsibilities:
• Educate clients and partners about the loan product available for community land trust homes (first mortgages), as well as downpayment assistance, and home repair needs (second mortgages).
• Assist clients in completing the mortgage application process, ensuring all necessary documentation is provided and completed.
• Evaluate the financial capacity of borrower’s application and prepare/submit application packet to underwriting.
• Process loan request in its entirety, including engagement with underwriters, appraisers, title and Realtors.
• Collaborate with the Portland Housing Center and NOAH to manage underwriting and distribution of funds.
• Build professional partnerships with trusted referral sources, including community land trust developers and managers throughout Oregon, including rural and Spanish-speaking communities.
• Ensure final loan package is prepared and meets all servicing requirement after loan is funded.
• Meet goals and revenue targets set in our work plan and annual budget.
• Ensure compliance of State and Licensing education requirements.
• Coordinate with the Assistant Director for generational homeownership funding associated with our Down payment assistance.
• Coordinate with the homebuying education and counseling team to ensure a seamless handoff of clients seeking down payment assistance.
• Provide assistance with processing payoffs and subordinations for the Home Repair Program and Down Payment Assistance Program.

• Send annual servicing letters to all silent second loan holders in the portfolio.
• Assist with program and funding reports on a quarterly basis.
• Ensure files meet audit requirements.
• Other duties as assigned.

It is GREAT if you have…
• Understanding of Community Land Trusts (CLT) or have worked directly with CLT transactions.
• Bilingual skills - Spanish speaking and writing skills.
• Previous banking experience specifically with consumer, or small business lending or mortgage loan processing.
• Experience helping low-income first-time home buyers.

Apply for this opportunity to support CLW’s Mortgage loan officer, please submit the following materials to Luis.mendoza@devnw.org by Thursday, January 23rd for priority consideration. The position will be opened until filled.
1. Introduction letter detailing your interest that includes the following:
    a. Describe how your journey thus far has prepared you for the Key Contributions of this position?
    b. Tell us about your experience on how you went above and beyond to help a first-time homebuyer that had a hard time qualifying for a mortgage. What challenges did you face and how did you get through the process?
2. Current resume

DevNW & CLW is an Equal Employment Opportunity Employer. All qualified persons are encouraged to apply. Applications for
employment will be considered without regard to race, color, national or ethnic origin, religion, gender, gender identity, sexual
orientation, marital status, age, disability, and any other characteristic protected by applicable law.

Studies have shown that women and people of color are less likely to apply for jobs unless they meet every one of the qualifications listed. We are most interested in finding the best candidate for the job, and that candidate may be one who comes from a less traditional background. If you meet key qualifications for the job, and believe you would be the best fit, we would encourage you to apply; please use your cover letter or introductory email to explain how you will accomplish parts of the job for which you have less experience. If you are unsure whether you meet the qualifications of this position, please feel free to contact us.

Salary : $73,000 - $90,000