What are the responsibilities and job description for the Down Payment Assistance Specialist position at UNITED COMMUNITY BANK?
About the Role:
The Down Payment Assistance Specialist (DPA Specialist) plays a crucial role in helping low-to-moderate income families achieve homeownership by facilitating access to down payment and closing cost assistance from various sources, including the Federal Home Loan Bank (FHLB), state housing finance authorities, government programs, community land trusts, non-profits, and lender-funded subsidies. This position involves administering and maintaining the approval process for these programs.
What You’ll Do:
- The DPA Specialist will be the primary point of contact and liaison between mortgage production, operations, other supporting departments, and down payment assistance provider organizations
- The DPA Specialist ensures confidentiality, safety and proper handling of mortgage loan documents and consumer information
- Manage incoming loans with associated down payment assistance programs and coordinating and sending the appropriate documentation needed for these DPA programs. Working closely with UCM staff employees and homebuyers (as needed) to advance these loans forward to the respective DPA agency for review, approval, and preparation for closing
- Essential functions involve overseeing available funds for various DPA programs (FHLB, State Housing, Non-profits, and bank grant DPAs) assessing eligibility and funding, calculating income qualifications based on product and program guidelines
- Coordinates closing with MLO/MLOA, mortgage processors, mortgage underwriters, closers and acts as a liaison representing UCM with the FHLB and State Housing agencies to integrate down payment requirements smoothly into the overall loan application and DPA submission approval process through closing
- Adheres to all relevant program and product guidelines and regulations related to down payment assistance transactions
- Maintains accurate and up to date records and reporting of loan applications through Encompass mortgage software, Down Payment Resource software, FHLB and State Housing grant portals and excel spreadsheets
- Proficiency in Microsoft Office (especially Excel)
- Develops and maintains an up to date and sound knowledge of multiple down payment assistance programs offered by the company
What We’re Looking For:
Required Experience:
- Minimum of 3 years’ experience in the mortgage industry (operations, underwriting, closing, processing, preclosing, MLO or MLOA type roles).
- Familiarity with various types of loans including conventional, Govt, State Housing and DPA programs
- Demonstrated experience in understanding and promoting affordable housing programs and related activities
- Exceptional written and verbal communication skills, with the ability to clearly and effectively convey information to originators, processors, underwriters, closers, and other stakeholders
- Detail oriented self-starter with the ability to collaborate effectively across all mortgage functions to achieve and support departmental goals
- Strong analytical skills with a focus on finding solutions
Preferred Skills:
- Experience using Encompass Mortgage software
Supervisory Responsibility:
- This position does not manage employees.
Position Type:
- Full-time position with schedule flexibility to work evenings and weekends as needed.
We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity and/or expression, status as a veteran, and basis of disability or any other federal, state, or local protected class.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
