Job Description
Job Type
Full-time
Description
Job Title: Mortgage Operations Manager
FLSA: Exempt
Function: Mortgage Lending
Reports To: VP of Mortgage Lending
Purpose: Oversee the management, direction, and planning of the credit union's mortgage processing, closing, and underwriting responsibilities. Provide escalated support to the department staff. Assist in performing clerical and processing needs. In addition, assisting with preparing closing documents. Service member's financial needs regarding the credit union's mortgage loans. Educate members on credit union products and services. Promote positive employee relations and morale. Provide members with an extraordinary experience in accordance with the credit union's core values and service promise.
Responsibilities: - Supervise the mortgage processing, closing, & underwriting staff (i.e. job assignment, training/development, performance evaluation, quarterly one-on-ones, staff scheduling, etc.)
- Obtain personal and financial information from members, answering questions and educating members on beneficial credit union products and services
- Obtain and compile copies of member's financial information, create and maintain the member's loan file throughout the lending process
- Prepare appropriate documents, initiate verifications, and initiate any necessary documentation used in the loan application, consideration, and evaluation process
- Order appraisals, title commitments, tax transcripts, and loan payoffs
- Prepare closing statements (CD) and documents, and schedule mortgage closing appointments
- Verify all application documents and review information in the loan origination system for completeness and accuracy
- Provide support to branch staff on all loans and products
- Maintain an up-to-date and comprehensive knowledge of all state and federal legal obligations and regulations
- Determine and verify the source of funds for down payment, closing costs, and reserves listed on application
- Review insurance policies and property appraisals, making sure they meet underwriting guidelines and policies
- Review verifications of employment and tax transcripts for completeness and accuracy
- Review title commitment for all required conditions to obtain first lien position and compare the legal with the appraisal and survey
- Issue statements of denial of credit specifying credit union guidelines and basis for declining application
- Approve mortgage loans following mortgage loan underwriting guidelines set forth by the secondary market and Arbor Financial Credit Union policy
- Provide mortgage staff with loan process status updates, regulation & secondary market changes
- Maintain an up-to-date and comprehensive knowledge of the credit union's products and services and state/federal legal obligations and regulations
- Build rapport and use active listening to identify member's needs while actively researching member's accounts to determine consultative sales and cross-sell opportunities
- Prepare all loan-closing documents, and ensuring that they are accurate in order to have a fully compliant mortgage loan and meet the credit union's policies and procedures
- Have a solid understanding of credit union policies, NCUA rules and regulations, and any other laws affecting mortgage lending
- Review all closing details to ensure compliance with state and federal regulations
- Ensure that all terms of the loan are met
- Review the loan approval, products, pricing, escrows, title, appraisal, flood certificates and documents for any errors
- Verify, when applicable that FNMA UCD, FNMA Early Check and FHLMC Loan Advisor are satisfactory at the time of closing
- Follow up on any deficiency requests by post-closing and quality control in a timely manner
- Remain informed of all relevant aspects of the mortgage lending industry, including investor guidelines, regulatory compliance, underwriting guidelines, etc.
- Compliance with the Bank Secrecy Act, OFAC, and USA PATRIOT Act including Customer Identification Program, customer due diligence, identifying high risk accounts, reporting suspicious activities to supervisor or BSA Department
- Support the credit union's focus on member service and sales
- Promote and maintain a confidential environment to protect member, employee, and credit union information
- Follow all credit union policies, procedures, and requirements, in addition to all applicable state and federal laws and regulations
- Create and promote a positive professional image of one's self and the credit union
- Exemplify the credit union's core purpose and core values
Perform all other duties as assigned
Requirements
Education and Experience: - A two-year college degree, or completion of specialized certification or licensing, or completion of specialized training courses conducted by vendors, or job-specific skills acquired through an apprenticeship program
- Three to five years of experience as a mortgage loan processor, closer, underwriter or title agent required
- One to two years supervisory experience required
- Financial services experience
- Service and sales experience desired
Skills, Abilities, and other Requirements: - Strong computer and application skills
- Strong verbal and written communication and grammar skills
- Ability to be bonded required
- Ability to be registered under the SAFE Act required
- Ability to successfully organize, prioritize, and manage multiple responsibilities
- Ability to keep up with a busy workflow
- Ability to sit for long periods of time
- Ability to perform repetitive tasks
- Team player with a positive attitude and flexibility
- Professional demeanor and personal accountability
Arbor Financial Credit Union
Job Tags
Full time, Apprenticeship,