Assistant VP, Mortgage Fulfillment – Guideline Review & Restructure

Pennymac • Overland, MO

1d • $68,000 - $115,000 • Onsite

About The Position

The AVP, Mortgage Fulfillment - Guideline Review & Restructure at Pennymac will lead and oversee a specialized team responsible for the expert interpretation of investor guidelines and the strategic restructuring of complex loan files. This role is responsible for ensuring that loans which fall outside standard automated parameters are reviewed for program eligibility, restructured for compliance, and navigated through credit policy escalations. The AVP will drive operational excellence by balancing risk mitigation with loan pull-through efficiency, serving as a critical bridge between production and credit policy.

Requirements

• Bachelor’s degree or equivalent work experience.
• 7+ years of mortgage experience, with a heavy emphasis on advanced Underwriting or Credit Policy.
• Proven supervisory experience in a high-volume, technical mortgage environment.
• Deep technical knowledge of GSE and Government (FHA/VA/USDA) guidelines and the ability to interpret complex credit memos.
• Strong analytical mindset with the ability to "think outside the box" for loan restructuring; proficiency in Microsoft Office (Excel, PowerPoint).

Responsibilities

• Directly manage and support the Guideline Review & Restructure team, ensuring high-level technical analysis is executed accurately and within established SLAs.
• Provide expert-level coaching and development to associates on complex product matrices (Fannie Mae, Freddie Mac, FHA, VA, and Jumbo).
• Foster a culture of "solution-oriented underwriting," encouraging the team to find viable paths to homeownership while maintaining strict adherence to credit risk standards.
• Oversee the review of high-complexity loan files requiring restructuring due to changes in product eligibility, debt-to-income (DTI) challenges, or loan-to-value (LTV) constraints.
• Lead the team in identifying alternative product solutions (e.g., switching from Conventional to FHA) or restructuring loan terms to meet investor requirements.
• Monitor performance metrics related to "restructure success rates" and the quality of guideline interpretations to minimize post-closing purchase errors.
• Act as the final point of internal escalation for complex guideline disputes before moving to Credit Policy or Investor Relations.
• Identify gaps in current fulfillment workflows where guideline clarity or restructuring opportunities are missed.
• Partner with the Training and Credit Policy teams to disseminate updates on new investor announcements or internal policy overlays.
• Develop and refine "restructure playbooks" that help streamline the path from initial denial/ineligibility to a cleared-to-close status.
• Provide data-driven insights to senior leadership regarding guideline-related trends that impact pull-through rates.
• Serve as the primary subject matter expert for Guideline Review across the Fulfillment, Sales, and Underwriting channels.
• Collaborate with Credit Policy to advocate for common-sense exceptions or to clarify ambiguous investor language.
• Represent the Restructure function in audits and strategic projects focused on increasing loan quality and production volume.

Benefits

• Comprehensive Medical, Dental, and Vision
• Paid Time Off Programs including vacation, holidays, illness, and parental leave
• Wellness Programs, Employee Recognition Programs, and onsite gyms and cafe style dining (select locations)
• Retirement benefits, life insurance, 401k match, and tuition reimbursement
• Philanthropy Programs including matching gifts, volunteer grants, charitable grants and corporate sponsorships

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 501-1,000 employees