The Mortgage Operations Manager (MOM) will manage the review and purchase of closed mortgage loans from a variety of counter parties. Oversee underwriting, collateral review and quality control functions to ensure the bank is purchasing high quality mortgage loans that conform to the bank’s policies and procedures. The MOM will work closely with the Mortgage Warehouse Operations Director and serve as a key liaison for customers that are delivering mortgage loans to the bank on a flow basis.
Supervise a team of funders, collateral specialists, and underwriters in reviewing closed mortgage loans for purchase by the bank. Manage loan pipeline to ensure deadlines are met.
Assesses risk and makes recommendations on mortgage loans the bank should purchase or proposes a structure to address weaknesses and compensating factors.
Create and oversee a quality control plan to ensure loans purchased meet all of the bank’s policies and procedures and are of investment quality. Write policies, procedures and checklists to ensure strong controls and create oversight.
Oversee third party vendors that review and underwrite mortgage loans for the bank to ensure their work quality meets the bank’s standards.
Work closely with customers to clear conditions of purchase loans. Serve as key customer liaison on flow arrangements, to ensure customer expectations are met, service standards are adhered to and issues are elevated and resolved in a timely manner.
7+ years in mortgage processing, underwriting, and closing with 2-3 years of management experience. Bachelor’s degree (BA) from a four (4) year college or university preferred. Previous experience in an Operations Manager capacity at an independent mortgage company or bank is desired.
Demonstrates advanced knowledge in underwriting residential mortgage loans in accordance with Jumbo, FNMA, FHLMC and investor guidelines. Advanced knowledge of related state and federal lending and compliance regulations. Advanced knowledge with DU and LP.
Experience in purchasing closed loans on a correspondent basis a plus and strong process and controls background with attention to detail.
Ability to analyze data and determine trends. Flexibility in decision making with strong problem solving skills. Must have advanced Microsoft Office skills, including Excel
Self-starter, self-reliant, dependable, ability to work within and meet specific time constraints. Effective oral, written and interpersonal communication skills with the ability to carry out instructions and instruct others, interpret documents, understand procedures, write reports and correspondence, and speak clearly to customers and employees.