Job Openings: SVP Residential Lending
|Location of Position:||Brockton|
General Summary: Responsible for overall oversight of the Residential group. This includes origination, operations and servicing functions ensuring compliance with relevant State and Federal Laws.
Responsibilities and Duties Include:
- Oversees the origination, operations and servicing operation.
- Participates in the development of products and procedures for mortgage origination department. Oversee implementation of all real estate lending policies, products, and strategies.
- Review policies and procedures to ensure compliance and effectiveness and recommend changes if necessary. Member of quarterly compliance committee.
- Manages or assists in the management of additional policies, including Quality Control, Fair Lending and FCRA Policies.
- Oversees the management of Mortgage originations and workflow.
- Monitor and analyze current real estate loan products, make recommendations for pricing as needed. Update weekly rate sheets for rate meeting.
- Reviews and implements any regulatory changes.
- Reviews Secondary Market requirements and informs and trains personnel accordingly.
- Serves as a member of various mortgage department committees that provide input into development of departmental policies and procedures.
- Assists departmental staff and ensures that procedures are adhered to and are consistent with Credit Union policies.
- Directs the processing of loan applications, underwriting, closings and servicing based on the Credit Unions criteria.
- Develops and maintains workflows for all states of document preparation, processing, underwriting, closing, file retention and documentation management.
- Works with Mortgage Sales Manager to review pipeline and approve monthly compensation report
- Ensure all loans are being processed in a timely and proper manner, and in accordance with established regulations, policies, and secondary market guidelines.
- Achieve established departmental goals within defined timelines, as well as define and implement a measurement of acceptable staff performance in order to safeguard the Credit Union’s portfolio.
- Compile lending activity reports for review by Chief Loan Officer.
- Maintains regular contact with attorneys, realtors and other agents involved in the lending process.
- Reviews all real estate loans exceeding staff underwriter’s authority level. Assists in the review and structuring of other underwriter’s loans making suggestions or recommendations. Reviews recommendations on those loans exceeding credit union guidelines or departmental lending limits for presentation to Credit Committee or Board of director’s meetings.
- Assist in the sale and delivery of mortgages loans bought or sold in the secondary market.
- Maintain working knowledge of the Credit Union’s electronic data systems and loan operation systems. Update products, templates, forms, or changes when required.
- Work with system providers to utilize applications to fullest capacity, streamlining processes and proceures, ensuring accuracy and compliance. Analyze, prepare, and train for periodic updates to system software, and verify that enhancements are working correctly. Manage user security access.
- Interacts with auditors and examiners to assist in Audit reviews and examinations. Gathers, or directs the gathering of documentation for audits and submits via portals.
- Prepares loan committee review documentation for Credit Committee meetings.
- Hold managers accountable for quality control on files.
- Ensure proper tracking of PMI, including cancellations and automatic terminations.
- Hold managers accountable for monthly reconciliation are completed.
- Performs other duties as requested.
- Know the real estate lending business including policies, procedures, and compliance with applicable state and federal laws and regulations.
- A thorough understanding of the requirements of the Credit Union’s loan products.
- Organizational and interpersonal skills to conduct effective evaluations
- Analytical ability to conduct analysis of an applicant’s financial posture and recommend alternatives in cases where there is insufficient financial posture.
- Six to Eight years experience underwriting for the secondary market, FHLMC/FNMA, MHFA, VA, FHA, Jumbo Mortgages.
Management and Supervisory skills.
How to Apply
If it is more convenient you may also complete and print an employment application and submit along with a copy of your resume to SCU Credit Union in person or by mail to:
SCU Credit Union
1300 Belmont Street
Brockton, MA 02301