Job ID: 190636165
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:
• 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.
NIH Federal Credit Union
For over 75 years, the NIHFCU primarily served the needs of the NIH community and a small list of select hospitals and related institutions. In April 2010, as the area’s biomedical industry has advanced, the NIHFCU expanded its charter providing membership eligibility to all Employees, independent contractors or self-employed persons who work...
For over 75 years, the NIHFCU primarily served the needs of the NIH community and a small list of select hospitals and related institutions. In April 2010, as the area’s biomedical industry has advanced, the NIHFCU expanded its charter providing membership eligibility to all Employees, independent contractors or self-employed persons who work regularly in the biomedical and healthcare Industries in Maryland, Virginia, Washington DC and West Virginia. In 2016, we expanded eligibility to the biomedical community in North Carolina.
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