This role encompasses the leadership responsibility for the Real Estate Lending Department. The incumbent will be responsible for providing strategic and operational direction in conjunction with the corporate business plans and objectives. Oversees all facets of mortgage product development, mortgage loan sales, pricing and secondary marketing, underwriting, processing and closing, quality control, servicing, and title services.
The incumbent is responsible for developing the strategic vision and roadmap that outlines innovative solutions and process improvements for the Credit Union’s real estate lending activities, identifying industry trends, emerging technologies, and relevant opportunities that position VyStar to be an industry leader in real estate lending products and services and member experience.
ESSENTIAL JOB FUNCTIONS:
- Directly leads the Mortgage Sales & Product Delivery, Mortgage Origination, Mortgage Servicing, and VyStar Title Departments to ensure that all objectives are obtained. Fosters a member service atmosphere and mindset, and ensures that teams provide excellent member experiences. Guides and directs proper application of procedures and policies by management and staff to achieve quality service, improve productivity, and maintain confidentiality and security controls.
- Responsible for managing the quality of the mortgage portfolio, including ensuring the first mortgage portfolio meets all requirements to sell to Fannie Mae and/or use as collateral to borrow from the Federal Home Loan Banks, exclusive of loans made on an exception basis. Evaluates the mortgage loan portfolio, identifying trends, and implementing solutions, when appropriate, to reverse negative trends. Reviews internal mortgage loan policies, guidelines, and underwriting and valuation practices and recommends and implements changes as necessary. Monitors compliance with state and federal lending regulations for mortgage and equity loans.
- Ensures collaboration between functional units, creating a positive, teamwork-focused relationship between Sales, Processing, Underwriting, Closing, Title, and Servicing to ensure an excellent, streamlined member experience at every touch point throughout the mortgage process.
- Assists the Chief Lending Officer with identifying, negotiating, and executing on mortgage loan participation sales and purchases, as appropriate.
- Guides and directs proper application of procedures and policies by staff to achieve quality service, improve productivity, maintain confidentiality and security controls, which will provide positive response to member’s requests for services. Reviews and approves or instructs staff in processing exceptional or extraordinary transactions or responding to members who request services outside of established policies and procedures. Receives and investigates complaints.
- Makes credit decisions as authorized. Reviews as necessary any mortgage loans for approval that may require an exception to policy. If appropriate, approves the decision to make an exception and reports it to the Chief Lending Officer.
- Guides and supports the VP, Mortgage Sales and Product Delivery, the VP, Mortgage Originations, the VP, Mortgage Servicing, and the President, VyStar Title Agency, in the staffing, coaching, development, evaluation, and management of their teams. Plans structure and resources for the departments to achieve optimal efficiency, performance, and employee and member experience, and makes recommendations for staffing the department to the Chief Lending Officer.
- Ensures departments remain in compliance with all state and federal laws and regulations, remaining abreast of regulatory changes, and ensuring teams have complete understanding of applicable laws and regulations.
- Develops, recommends and operates within budget for department. Monitors expense for cost efficient operation for department.
- Responsibility for the vendor management process as related to Real Estate Lending. Includes negotiating service levels, pricing and all critical elements of the vendor agreement in conjunction with the Vendor Management group.
- Ensures maintenance and professional appearance of areas of oversight. Contacts facilities coordinator to arrange for services or repairs, improvements or remedies.
- Works with the Information Technology and Information Development Systems groups to make recommendations to enhance technology, programs, products, and processes
- Reviews and/or ensures proper completion, forwarding and/or retention of records.
- Ability to effectively interact and communicate verbally and in written form.
- Ability to handle multiple priorities at one time.
- Ensures all regulatory reporting is accurately completed on or before the required deadlines.
- Works directly with the branches, call center or members to resolve issues. Must be a strong team player with a high level of professionalism and initiative
- Monitors trends and provides updates to the Chief Lending Officers on any emerging trends/issues/opportunities.
- Ensures all regulatory reporting is completed on or before the required deadlines. This includes annual HMDA reporting, as well as FHLMC and FNMA reports.
- Works directly with the branches, call center or members to ensure the mortgage department is providing high quality member service and resolves issues.
- Develops and administers training with the mortgage department as well as throughout the credit union as needed.
- Excellent interpersonal, communication, analytical and organizational skills combined with the ability to condense technical subject matter into clear and effective communications to the Chief Lending Officer
- Strong attention to detail
- Ability to create, compose and edit written materials
- Demonstrate sound judgment and decision making
- Incumbent is expected to demonstrate each of the following VyStar Excellence Behaviors in performing the duties and responsibilities of their job and to provide support and feedback to their entire department to consistently practice and demonstrate VyStar Excellence behaviors in performing the duties and responsibilities of their position.
- Focus – Focus your full attention by carefully listening to and observing your client or member.
- Connect – Consistently be friendly and approachable. Demonstrate you care.
- Understand – Listen empathetically and ask questions. (70%/30%)
- Counsel – Recommend solutions based on your client’s or member’s needs and objectives.
- Advance – Ensure that member’s expectations were exceeded.
Verify necessary follow-up action.
SUPERVISION RECEIVED
Work assignments are 10% determined by the immediate supervisor, 90% determined by the incumbent.
Work progress is checked by the Chief Lending Officer periodically through reports, discussion and consultation. In cases of difficulty or where exceptional problems arise, the incumbent consults the Chief Lending Officer. This would include requests for changes in hours of operations, requests for services not defined in credit union policies and security concerns.
JOB KNOWLEDGE, SKILLS & ABILITIES
JUDGMENT
The incumbent is expected to take independent action to ensure that satisfactory services are provided to members. Immediate decisions are routinely made for exceptional handling of members’ requests for services. Judgment is used to efficiently staff the mortgage loan department and for the procurement of equipment. Judgment is required in anticipating mortgage loan department requirements to develop the annual budget which includes staffing and salary levels as wells as facility and equipment needs. Judgments are made on loans within authority. The Senior Vice President often determines handling of large or unusual transactions and must use discretion and judgment in advising member in financial matters.
EFFECT OF ERROR
Errors in judgment can have a significant impact to the Credit Union. Poor planning and use of resources could result in increased operating costs and deficiencies in member services, both actual and perceived.
Failure to properly train and educate staff could result in not only ineffective operations, but also in violation of regulations and could possibly subject the credit union to class action or individual lawsuit. In addition it could impact employee morale and the ability to provide members with quality service.
Failure to handle or improper handling of staff grievances could result in claims of unfair labor practices and subject the credit union to time consuming investigations and expensive legal actions.
Errors would be difficult to detect in most instances and are likely to cause irreparable damage. Errors would cause damage to the professional image of VyStar as perceived by members, businesses and the community and could result in loss of deposits or income producing business if members are dissatisfied with services. Errors could subject VyStar to fines for non-compliance with regulations or secondary market. If errors were not corrected in a timely manner VyStar’s seller/servicer ID for secondary market transactions could be revoked, thus suspending all loan sales to FNMA/FHLMC and could result in substantial losses of revenues.
PUBLIC RELATIONS
The incumbent has daily personal contact with members and with employees directly supervised. The Senior Vice President Mortgage Origination is responsible to maintain harmonious relationships between the mortgage loan department and other VyStar staff, members, vendors, service bureaus, officials, government agencies, servicing banks, and other businesses or persons which may have contact with the incumbent or the mortgage loan staff.
EXPERIENCE
- 10+ years of experience of Mortgage Real Estate in Sales & Product Delivery, Mortgage Origination, Mortgage Servicing, Title Services at a customer-focused, consumer-centric financial services organization (or related industry).
- 5+ years of Sr. leadership with responsibility for defining and executing on business plans to meet strategic objectives.
EDUCATION
A Bachelor’s degree is the minimum requirement; experience leading a mortgage lending group may be substituted for a Bachelor’s degree at the rate of one academic year of education for two years of experience. Continuing education via local conferences and workshops is required for updates on federal regulations and secondary market requirements.
Machines used in the performance of this position include communications equipment, computers, and related security equipment. Familiarity with the operation of building equipment and machines operated by the department employees is considered beneficial in problem solving.
The employee must meet and maintain all the requirements as a registered mortgage loan originator employed by a federally regulated institution with the Nationwide Mortgage Licensing System and Registry (NMLS). The employee must comply with all provisions of the Secure and Fair Enforcement of Mortgage Licensing Act of 2008 (S.A.F.E. Act) and credit union S.A.F.E. Act Procedures.
DISCLAIMERS AND WORK ENVIRONMENT
Nothing in this position description is an implied contract for employment. The position description is intended to be an accurate account of the essential functions. The functions are not all encompassing and are subject to change at any time by management.
The work environment characteristics described are representative of those that an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
As required or requested, may exert up to 20 pounds of force occasionally and/or a negligible amount of force constantly to lift, carry, push, pull or otherwise move objects.
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