Role:
The Lending Operations Manager will oversee the Mortgage Loan Officer, Processors/Closers, Underwriters, Pre-Quality Control, Shipping, and Consumer area while managing daily operations to ensure loans are processed, underwritten and closed efficiently and within compliance standards. Manage and allocate resources to meet fluctuating loan volumes and loan deadlines. Collaborate with Sales, Branch, Compliance/Audit, Information Technology, Finance, Human Resources, Marketing and other area stakeholders to resolve complex loan issues and ensure seamless communication across departments. Complete vendor reviews and perform annual due diligence. Train and mentor Lending Operations team.
Responsible for the origination, processing, underwriting and closing of all Real Estate first and second mortgages (fixed home equity and HELOC), administering lending programs, providing guidance and training for all unit personnel and supports lending operations of the Credit Union. This position is also responsible for providing analysis on various aspects of the department and making recommendations to senior management. Analyze mortgage, home equity and consumer loan requests, underwriting and decisioning based upon established policies.
Essential Functions & Responsibilities:
20% - Oversee the activities and the performance of the mortgage loan officer, by providing feedback and support. Build sales force as volume increases and prepare commission incentives. Conduct seminars/webinars and provide ideas to grow business. Seek new sales opportunities. Collaborate with Branch Managers to receive referrals. Interviews, trains, evaluates, disciplines, coaches and motivates staff. Ensures staff are trained on FHLB, secondary market, MI and internal guidelines, policies and procedures as well as the lending origination systems. Proficiency and knowledge of loan system to streamline application processes, accurate handling of loan documentation and compliance checks to improve lending approval speed and quality.
20% - Review, analyze, and prepare reports for department using various programs and software which include, but are not limited to, pipeline report management, credit score migration, loan- to-value migration, credit risks, and various reports to management and Risk/Compliance Committee. Responsible for keeping informed and updated on current policies, procedures, federal laws and regulations and maintains a strong knowledge of all lending operations and servicing. Provides training, guidance and resolution to staff personnel. Create, maintain an implement procedures and guidelines to enhance operational efficiency, improve member satisfaction and remain within both State and Federal regulatory requirements which include applicable secondary market guidelines. Ensures accurate processing, underwriting and closing of loans for purchase by secondary market. Complies with all audit inquiries such as NCUA and secondary market audits.
15% - Oversee pre-closing quality control on various loan files such as first mortgage and home equity products to ensure accuracy and compliance. Effectively leverage resources to monitor queue performance, identify patterns and trends causing issues and work towards business solutions.
10% - Establish and measure internal goals and KPI's. Ensure goals and SLA's are met in regard to production and turn times which include SLA's from vendors. Measure productivity by analyzing performance data, financial data and activity reports.
10% - Interact with attorneys, title companies, closing agents and other departments for timely processing and closing of all loans. Manage all first mortgage and home equity operations while guaranteeing the staff is providing exceptional service to members and maintaining quality control of all first mortgage related products and services.
10% - Responsible for confirming transfer of service is processed when a loan is sold. Submit yearly HMDA filing and ensure quarterly data is analyzed and available. Review and underwrite all first mortgage loan modifications in coordination with the Loan Administration area and provide recommendations to senior management. Guarantee all loan files, credit packages and disclosure packages comply with company lending policies as well as state and federal lending guidelines. Oversee that disclosures are up-to-date, regulatory changes are compliant in necessary documents and work with vendors on changes or new product disclosures.
5% - Act as main point of escalation of issues within the function. Assist with member complaints, resolutions and taking/recommending corrective actions as necessary.
5% - Participate in project management and implementation of various third-party services. Conduct third-party vendor due diligence and ensure deadlines are met. Vendor management of LOS, document prep, and vendors.N5%Perform other job related duties as assigned.
Must be familiar with and comply with applicable laws and regulations including but not limited to TRID, Reg Z, Reg B, HMDA, the Bank Secrecy Act, the Patriot Act and the Office of Foreign Assets Control.
Knowledge and Skills:
Experience: Five years to eight years of similar or related experience.
Education: (1) A two-year college degree, or (2) completion of a specialized certification or licensing, or (3) completion of specialized training courses conducted by vendors, or (4) job-specific skills acquired through years of practical on the job experience.
Interpersonal Skills: Work involves extensive personal contact with others and is of a personal or sensitive nature. Motivating, influencing, and/or training others is key at this level. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas or services to others.
Other Skills: Is responsible for a variety of information including, but not limited to, the organizations current mortgage loan interest rates, commitment/rate lock/relock fee procedures and consumer loan products/rates/guidelines that are used in conjunction with Mortgage Lending's loan origination software system.
Physical Requirements: Perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in emergency situation. Must be able to operate routine office equipment including telephone, copier, facsimile, and calculator. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours whenever required or requested by management. Must be capable of regular, reliable and timely attendance.
Work Environment: Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.
Job Type: Full-time
Pay: $100,028.22 - $125,035.28 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Flexible spending account
- Health insurance
- Life insurance
- Paid time off
- Tuition reimbursement
- Vision insurance
Experience:
- Lending: 5 years (Required)
Location:
- Dover, NJ 07801 (Required)
Ability to Commute:
- Dover, NJ 07801 (Required)
Work Location: In person
