Mortgage Processing Manager

Virginia Credit Union•Roanoke, VA

1d•Hybrid

About The Position

The Mortgage Processing Manager will assist the VP, Mortgage and Equity Production in managing the mortgage processing function. This role involves developing and maintaining a work environment that ensures employees are accountable for producing quality loan files and providing excellent member service. The manager will oversee processors and disclosure desk analysts, ensuring timely and accurate work, compliance with regulations, and achievement of quality benchmarks and productivity standards. This position also involves pipeline management, disclosure desk management, member service, compliance review, and other duties to support mortgage and equity growth.

Requirements

Significant first mortgage processing experience.
Experience in first mortgage underwriting preferred.
Excellent knowledge of mortgage documentation, mortgage banking regulations, and secondary marketing/investor guidelines.
Expert knowledge of conventional, government, and state housing finance agency residential first mortgage products.
Experience utilizing Fannie Mae’s Desktop Underwriter, Freddie Mac’s Loan Product Advisor, Total Score Card, and USDA Guaranteed Underwriting System required.
Experience working with Federal Home Loan Bank Set-Aside and other grant programs a plus.
Prior first mortgage management/leadership experience preferred; demonstrated ability to manage and coach individuals in a variety of positions with a wide range of knowledge and skills; demonstrated ability to motivate, train, and develop staff.
Experience with Encompass LOS a plus.
Demonstrated effective leadership skills that include creating and maintaining a positive work environment both with their team as well as peers.
Strong verbal and written communication skills combined with the ability to make sound decisions.
Excellent computer, problem solving, organizational skills and ability to multi-task are a must.
Proficient in math calculations and possess the ability to perform mortgage calculations manually including the APR, finance charges, etc.
The ability to quickly and professionally motivate a team in a high paced, ever changing environment.
Takes ownership of own and team’s actions.
Excellent member service skills are required.
Must be detail oriented.
Must be apt to teach others.
Embraces technology as a means to improve productivity and staff empowerment.
Must be a self starter.
College graduate with background in business administration, real estate finance, economics, or finance preferred; or experience at the management level in a banking, mortgage banking, or credit union lending operations.
Equivalent experience and formal training may substitute for degree.
Registration with the Nationwide Mortgage Licensing System (NMLS) is not required.

Nice To Haves

Experience in first mortgage underwriting preferred.
Experience working with Federal Home Loan Bank Set-Aside and other grant programs a plus.
Prior first mortgage management/leadership experience preferred.
Experience with Encompass LOS a plus.

Responsibilities

Assists VP, Mortgage and Equity Production in managing mortgage processing function by developing and maintaining a work environment that ensures that all employees are accountable for producing quality loan files and for providing excellent member service.
Ensures processors perform all job responsibilities in a timely manner and ensuring quality loan files are presented to underwriting.
Ensures disclosure desk analysts perform all job duties in a timely manner and ensuring mortgage and equity disclosure packages are accurate and comply with prescribed regulation timelines at time of delivery to members.
Ensures appropriate documentation is completed and reviewed prior to submitting the loan for review.
Ensures all loan quality benchmarks, productivity standards, and member service levels are met or exceeded.
Ensures the processing workflow operates smoothly, efficiently, and produces quality mortgage loans.
Ensures a high level of data integrity and accuracy of all loans as measured by the number and severity of audit/QC exceptions reported by both external and internal reviews.
Provides staff with continual, constructive feedback on performance.
Partners with VP, Mortgage and Equity Production in addressing personnel issues and problems in a timely manner, while ensuring consistent documentation and seeking assistance from Human Resources as appropriate.
Partners with VP, Mortgage and Equity Production to provide feedback on performance reviews as well as setting and developing goals.
Interfaces professionally with members, business partners and mortgage staff to ensure a successful mortgage process.
Is an active participant of the mortgage management team.
Maintains a dynamic and cooperative relationship with all members to develop smooth process transitions from loan production to pre-closing and closing.
Champions the goals set by the mortgage management team to staff and others and actively works in support of achieving those goals.
Fosters an environment of overall high employee engagement as represented by staff feedback, employee survey results and a well established and clear communication cycle with staff, team and others.
Collaborates with VP, Mortgage and Equity Production in conducting monthly team meetings to discuss lending objectives, activities, and/or strategies on which to focus.
Acts in the absence of the manager as needed.
Assumes the role of mentor, advisor, trainer, coach, leader to the Processing and Disclosure Desk Analyst Team by promoting an environment that encourages employee participation in determining how best to serve our members, operate most efficiently, and achieve the goals set by the mortgage management team and Virginia Credit Union.
Reviews overall pipeline volume, file flow and processing time frames.
Monitors mortgage and equity loan pipeline to ensure key performance indicators (KPI’s) are met.
Utilizes daily, weekly, and monthly production reports to effectively manage the loan life cycle.
Identifies and follows up on any loans that are in need of attention so as to ensure member and business partner expectations are met or exceeded.
Identifies and assists in solving issues that arise during the loan process.
Works with mortgage management team on a daily basis to resolve roadblocks.
Manages team turns times from applications through closing to ensure closing dates are met.
Ensures that mortgage and equity applications are processed accurately and the appropriate workflows are utilized.
Ensures that processor work loads and file assignments are balanced daily.
Ensures that applications are progressing through the workflow timely.
Conducts a weekly review and prioritization of processor files as well as conducts follow ups on loans experiencing delays.
Constantly reviews the processing workflow and makes recommendations to facilitate improved communication, increase quality of work performed, and maximize operational effectiveness.
Conducts daily review of income based loans as they are assigned to processors to ensure loan requirements are met (i.e FHA, VA, Virginia Housing, FHLB, USDA).
Conducts monthly review of the aged pipeline taking of required action.
Provides feedback to the VP, Mortgage and Equity Production on staff performance as it relates to overall pipeline management.
Constantly communicates and collaborates with all departments regarding status of to loans to achieve the best outcome for the member and the team.
Examines and implements new processes as required to maintain accurate loan files, help to improve communication, enhance member service and maximize operations effectiveness.
Maintains a strong working knowledge of all processing processes and procedures and acts as a resource to peers/staff for questions (including conventional, FHA, VA, VHDA, USDA-RD, third party investor, equity, and portfolio products).
Conducts weekly pipeline meetings with staff to go over active loans in the pipeline.
Partners with Disclosure Desk Analyst to develop month/annual goals that support individual development, as well as, mortgage and equity department goals.
Conducts monthly one-on-one, mid year and annual performance reviews routinely and that merit increase recommendations are suitable and associated to performance.
Reviews and approves weekly timecards; sick and personal time off.
Ensures appropriate coverage is in place to meet mortgage needs (becomes well versed to be a backup if needed).
Addresses personnel issues and problems in a timely manner, while ensuring consistent documentation and seeking assistance from Human Resources as appropriate.
Maintains consistent communication to VP, Mortgage and Equity Production, Sales team (management and loan officers), Mortgage Closing & Delivery Manager, and all other necessary parties related to fee disclosure, initial disclosure and change of circumstances.
Ensures staff performs all job responsibilities in a timely manner, ensuring quality mortgage loans disclosed (Provides training as needed).
Ensures all loan quality benchmarks are met or exceeded.
Ensures a high level of data integrity and accuracy of all loans as measured by the number and severity of audit exceptions reported monthly bye external and internal parties.
Ensures minimal, non-repetitive tolerances through Encompass reporting and scorecards.
Explores, enhances and executes disclosure desk procedures, policies and job aids to maintain accurate disclosures and tracking for Initial Disclosure Packets, Loan Estimates, etc.
Maintains direct oversight of the Disclosure Desk Dashboards and Inbox and conducts regular reviews to ensure disclosure requests are handled in a timely, consistent manner.
Maintains the highest level of professionalism through all member and staff interactions by creating a supportive culture through collaboration and teamwork.
Champions the awareness and use of the Virginia Credit Union CUSO Services (Virginia Statewide Title Services, Joyner Fine Properties, Virginia CU Insurance Services).
Ensures staff regularly and consistently communicate with members, teammates, and business partners regarding file status and any other relevant information.
Ensures mortgage/equity loan system is updated timely and accurately.
Ensures teamwork within the department and internal member service standards are promoted and adhered to.
Ensures members are treated fairly and consistently in all mortgage and equity lending practices.
Maintains a dynamic and cooperative relationship with all members of the mortgage management team to develop smooth process transitions from loan production to post closing.
Performs member experience call monitoring evaluations and identifies/acts on coaching opportunities.
Stays current on all mortgage and equity processing procedures to be able to serve as back up for staff during times of heavy volume, staff vacations, and/or absences, or as needed (i.e. employee loans).
Resolves escalated member service issues promptly.
Reviews/addresses/responds to monthly audit reports timely and champions any required procedural changes.
As needed, makes decisions on mortgage and equity loans in conformity with all applicable federal and state regulations including corporate policies and procedures.
Stays up to date on all required loan documents, systems, credit reports, and related lending and regulatory requirements.
Completes all required credit union trainings (i.e. BSA, Fair Lending, OFAC).
Complies with Regulations B, C, X and Z regarding the completion of required disclosures including, but not limited to, TRID, the Loan Estimate, Closing Disclosure, Potential Transfer of Servicing Form, and if required, the Adverse Action form. Also included are compliance with FACT and FDPA (Flood), HUD housing counseling forms and program specific disclosures.
Ensures BSA and OFAC responsibilities include but are not limited to the following: Accurately performs all Bank Secrecy Act (BSA) and OFAC functions related to opening accounts, making account maintenance changes, approving and disbursing loans including, but not limited to OFAC verification, reporting suspicious activity to the Fraud Risk Management Department, and completing all required training.
Ensures that departmental procedures to support the credit union’s BSA and OFAC policy are documented in writing, distributed to staff, and adhered to by all staff.
Ensures that all transaction and account maintenance information required under BSA is captured and records are submitted for record retention in accordance with the BSA record retention schedule.
Complies with agency/investor disclosure requirements for conventional, FHA, VA, USDA, VA Housing mortgages and equity loans and lines of credit.
Ensures loans that are disclosed to members meet ATR/QM standards.
Maintains and complies with policies, procedures, practices, documents and controls for the mortgage function to protect the interests of the Credit Union, and ensures compliance with state, federal, NCUA and other applicable regulations including but not limited to National Flood Insurance Program (NFIP0, Regulation B, Regulation C, Regulation X (RESPA), and Regulation Z (Truth in Lending), Potential Transfer of Servicing Form, and if required, the Adverse Action form.
Assists in implementing approved new products and promotions to meet the membership’s needs and stimulate mortgage and equity growth.
Communicates relevant information about mortgage and equity lending, products, and promotions to all employees and management.
Assists with testing the mortgage/equity loan origination system new product and program releases and updates/upgrades as needed.
Maintains an excellent working knowledge of current secondary market guidelines, including Conventional, FHA, VA, Virginia Housing, and USDA Rural Development.
Responsible for communicating any lending policy changes to staff.
Must be able to understand and apply policies to all mortgage and equity lending situations.
Consistently demonstrates top notch member service through consistent exemplary member service scores, member/business partner feedback and teammate feedback.
Consistently demonstrates positive communication both internally and externally.
Acts as a mentor to teammates and demonstrates respect for peers.
Consistently demonstrates top notch production metrics, pipeline management, and a strong knowledge of all mortgage and equity products requiring little oversight.
Demonstrates/promotes collaborative engagement with peers; active participation in meetings, being a positive contributor; creative/collaborative problem solving; and championing of our process, tools, and product offerings.
Understands and demonstrates management/leadership skills and competencies.
Other duties may be required and assigned.
Complies with all published enterprise level policies and procedures including, but not limited to, Risk Management policies.
Completes all required, ongoing enterprise level training including, but not limited to BSA, OFAC, and Information Security.
Reports all Risk Management Policy violations in accordance with policy.