NIH Federal Credit Union with more than $550 million in assets is currently seeking a highly-qualified and energetic individual for a Mortgage Operations Manager.
The Mortgage Operations Manager reports to the VP of Lending and is responsible for the successful management of all aspects of the mortgage lending operations - from processing the loan applications to the delivery of loans to the secondary market. The incumbent provides leadership, guidance, training and support to the team, and ensures administrative and operational compliance with all Investor and regulatory requirements, as well as NIH Federal Credit Union policies and procedures.
MAJOR DUTIES AND RESPONSIBILITIES
Mortgage Operations Execution
- Responsible for the operational excellence and regulatory compliance as it relates to first and second mortgage loan processing, underwriting, closing, post-closing and investor delivery, and compliance with all Investors and NIHFCU guidelines.
- Designs and implements work flow processes and practices from the receipt of application through post-closing and loan delivery that results in efficient and accurate loan processing and closing, and ensures the highest levels of productivity and quality.
- Ensures that applications are processed, underwritten, funded and sold within the required timeframes and without actionable error, minimizing repurchases, lock extensions and payment of cure fees. In addition, contributes to overall profitability by monitoring and managing general and administrative expenses.
- Works with the VP of Lending and SVP, CLO to develop strategic directions and sets productivity goals and performance requirements to ensure collaboration with Sales Production staff and other internal/external departments in order to maximize funding volume while maintaining strict adherence to NIHFCU policies and investor guidelines.
- As the ultimate decision maker on residential lending approvals/denials, holds the highest level of underwriting and exception authority within the department.
- Maintains responsibility for managing the quality assurance review process and works to prevent investor repurchase requests.
- Oversees the post-closing process and tracking of any trailing documents, including but not limited to final title policies and recorded DOTs/Mortgages.
- Provides guidance in resolving complex or challenging loan transactions to yield the best possible outcomes while giving staff the opportunity to develop and recommend solutions.
- Monitors quality assurance and timelines of workflow by:
o Analyzing and monitoring team workflow and loan pipeline
o Implementing procedures/guidelines for uniformity and quality standards
o Ensuring adherence to regulatory/compliance requirements
- Keeps abreast of all new and changing regulatory compliance and investors’ requirement changes in the mortgage lending industry, and takes the training courses necessary to gain the knowledge and understanding needed to implement processes, procedures and system updates to ensure compliant mortgage operations.
- Provides compliance training, guidance and tools needed to the mortgage operations team to ensure that the department operates in compliance with all investors’ requirements, federal and state regulations, as well as fair lending practices.
- Assists with the implementation of new mortgage product development efforts and handles new loan products implementation, to include the update of the mortgage program guidelines, the new product implementation within the mortgage Loan Origination System (MortgageBot LOS) and the online mortgage application system (MortgageBot POS), works with the documents provider (DocMagic), as needed, to create the new product specific documents, testing and training for the Mortgage Operations Team.
Staff Development, Coaching and Training
- Recommends staffing levels and personnel actions such as hiring, firing, promotions, transfers, salary actions, and staff training.
- Manages and forecasts staffing needs to support the changing demands of production levels.
- Accountable for recruiting, hiring, developing and retaining qualified, high-performing operations staff.
- Develops staff through a combination of goal-setting, delegation, training, coaching and performance management to ensure all employees have the knowledge, skills, and abilities to meet performance quality and productivity targets.
- Performs management activities including, but not limited to performance reviews, performance improvement plans, coaching and training, scheduling work hours, and cross-training.
- Manages, monitors and provides feedback on the achievement of performance goals, productivity, efficiency and quality of work product.
- Provides leadership, training and coaching to the operations staff to ensure the highest level of member service throughout the loan process. Establishes customer service delivery standards and monitors service levels against such standards on a regular basis.
- Assists, as necessary, with the resolution of any customer service issues escalated to management level, and exercises professional judgment in further escalating to the SVP/ CLO or VP of Lending only when necessary.
- Responds to all escalated loan-level scenarios promptly and thoroughly, and communicates resolved issues to all stakeholders to further improve processes and/or avoid similar problems from arising in the future.
- Bachelor’s degree or equivalent experience in Mortgage Operations is required.
- A minimum of five years of experience in an operations management role required.
- A minimum of ten years of mortgage banking operations experience required.
- Must demonstrate a thorough knowledge of Fannie Mae/Freddie Mac guidelines, as well as credit union lending policies, procedures, and regulations.
- Must possess detailed knowledge of mortgage lending compliance regulations to include, but not limited to TILA-RESPA, Reg. Z, Reg. B, FCRA, ECOA, HMDA, HPML, QM/ATR.
- Must possess a thorough understanding of the requirements and features of the mortgage loan programs similar to those offered by NIHFCU, other private investors, and the secondary mortgage market.
- Competence with Systems such as: Microsoft Word, Excel, Outlook, Internet, E-mail and mortgage loan origination and processing software. Excellent oral and written communication, analytical, and interpersonal skills required../li>
- Analytical decision-making ability with attention to details.
- Ability to learn and work in a fast-paced work environment.
- Ability to multitask and prioritize work.
REQUIRED COMPLIANCE COURSES
Ensure that work results and processes comply with relevant laws and with established NIHFCU policies, procedures, and practices, including, but not limited to, the Bank Secrecy Act (BSA).
Attend all BSA training or complete and pass all online BSA training tests as applicable.
Ability to read, write and comprehend the English language and understand basic instructions, correspondence and emails.
Ability to apply concepts such as fractions, percentages, addition, subtraction, multiplication, and division in all units of measure using whole numbers, common fractions, and decimals. Ability to perform these operations using units of American money. Ability to calculate figures and amounts and work with statistical concepts.
Ability to understand and carry out basic instructions.
AMERICANS WITH DISABILITIES ACT OF 1990 (ADA) and its AMENDMENTS ACT OF 2008 (ADAAA) SPECIFICATIONS
Perform primary sedentary work with limited physical exertion and occasional lifting up to 25
lbs. must be capable of climbing/descending stairs in an emergency situation. Must be able to operate routine office equipment including telephone, copier, facsimile, and calculator. Must be able to routinely perform work on computer sitting for an average of 6-8 hours per day, when necessary. Must be able to work extended hours whenever required or requested by management. Must be capable of regular, reliable and timely attendance.
Must be able to routinely perform work indoors in a climate-controlled private office with minimal noise.
MENTAL AND/OR EMOTIONAL REQUIREMENTS
Must be able to perform job functions independently and work effectively either on your own or as part of a team. Must be able to plan and direct the work activities of self and others. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate the highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines/requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising the highest level of discretion on both internal and external confidential matters.
This is a full-time position with competitive benefits and salary commensurate with experience.
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