Sr Supervisor, Loan Operations, South Bend, IN

1st Source•South Bend, IN

1d•Onsite

About The Position

Responsible for training and supervising staff in respective Loan Operations Department. Mentors and provides guidance to Operations staff on handling complex transactions. Acts as a liaison to all Investor/Agency/MI Companies and responds to any written communication received in the way of audit requests, repurchases, or other issues with regard to files. Receives and tracks all letters received from investors, agencies and private mortgage insurance companies. Prepares documentation requested for review, reviews files to determine if there are any issues that might be cited and tracks the receipt/responses to these letters for management. Ensures the Quality Assurance audits are completed timely per investor/agency requirements. Responsible for reviewing all monthly Quality Assurance reports and issuing a management overview memo for all managers to review. Researches investor/agency guidelines for origination sources and staff when they are unclear about a guideline. Prepares written communication to staff and origination sources when regulations or investor guidelines change to keep everyone abreast of new developments. Assists investors/agencies when conducting on-site audits which involves gathering materials requested pre-audit and being available during the audit, if necessary, to assist and respond to questions from the auditors. Reviews appraisals, when necessary, to ensure the collateral has sufficient value and remaining economic life to warrant the mortgage amount and term being requested. Ensures mortgage and consumer real estate loans are processed and closed according to investor guidelines and validates that regulatory guidelines are being followed. Approves new appraisers (currently there is a moratorium on this process) but it involves reviewing a minimum of three sample appraisals, verifying their licenses through the State issued, checking them against HUD's LDP listing, and running them through MARI to see if any previous incidents have been reported. Responsible for completing the HUD Annual Re-Certification and the VA Annual re-certification which involves sending invoices to our production affiliates for reimbursement of their fees paid for the ensuing year. Attends frequent meetings with Department Manager and Manager's of other departments in order to discuss production, process, etc. Responsible for the training and supervision of assigned staff and exercise the usual authority of a supervisor concerning staffing, performance appraisals, salary recommendations and terminations. Monitors daily workload levels. Works with leadership to understand and recommend process improvements as appropriate. Ensures policies and procedures are created as needed and update to reflect revisions. Communicates effectively with employees to provide coaching and feedback. Regular and predictable attendance is an essential requirement of the position. Responsible for the completion of all compliance training related to the position. Must understand all applicable laws and regulations that apply to the position and comply with the requirements. Perform all other duties as assigned.

Requirements

Three (3) to five (5) or more years of mortgage or loan operations experience preferred.
Minimum of three (3) years supervisory/management experience preferred.
Extensive knowledge of Fannie Mae/Freddie Mae guidelines.
FHA/VA guidelines and GNMA requirements.
Federal/state/municipal regulations that apply to the mortgage loan process.
Strong knowledge of the appraisal process and regulations that monitor that process.
Good PC skills--proficiency in Microsoft Word and Excel essential, understanding of database software.
Great written and verbal communication skills.
Ability to protect the confidentiality/privacy of others as appropriate, as well as of company documents and records.
Self-motivated; good organization skills.
Ability to handle multiple tasks in a fast-paced environment.
Regular and predictable attendance.
Must understand all applicable laws and regulations that apply to the position and comply with the requirements.

Nice To Haves

Bachelor’s Degree preferred

Responsibilities

Training and supervising staff in respective Loan Operations Department.
Mentoring and providing guidance to Operations staff on handling complex transactions.
Acting as a liaison to all Investor/Agency/MI Companies and responding to written communication regarding audit requests, repurchases, or other issues.
Receiving and tracking all letters from investors, agencies, and private mortgage insurance companies.
Preparing requested documentation for review and reviewing files for potential issues.
Tracking the receipt and responses to letters for management.
Ensuring Quality Assurance audits are completed timely per investor/agency requirements.
Reviewing monthly Quality Assurance reports and issuing a management overview memo.
Researching investor/agency guidelines for origination sources and staff.
Preparing written communication to staff and origination sources regarding changes in regulations or investor guidelines.
Assisting investors/agencies during on-site audits by gathering materials and responding to auditor questions.
Reviewing appraisals to ensure collateral value and economic life.
Ensuring mortgage and consumer real estate loans are processed and closed according to investor and regulatory guidelines.
Approving new appraisers by reviewing sample appraisals, verifying licenses, checking against HUD's LDP listing, and running through MARI.
Completing HUD and VA Annual Re-Certifications.
Attending meetings with Department Manager and other department managers to discuss production and process.
Monitoring daily workload levels.
Working with leadership to understand and recommend process improvements.
Ensuring policies and procedures are created and updated.
Communicating effectively with employees to provide coaching and feedback.
Completing all compliance training related to the position.
Understanding and complying with all applicable laws and regulations.