Position Description

Department: Mortgage

Reports to: AVP - Consumer Loan Sales

Supervises: Direct Reports (x6)

(Mortgage Loan Originators; Mortgage Loan Processors; & Home Equity Loan Processors)

Skill Level: Middle Management

Position Purpose

The Mortgage Loan Sales Manager will work closely with the SVP, Lending to achieve mortgage production goals and managing all aspects of the credit union's mortgage-related sales efforts. The positions primary responsibility is to successfully manage the mortgage origination team of Mortgage Loan Officers (MLOs) and Mortgage Loan Processors (MLPs). The incumbent shall provide leadership, guidance, training and support to the MLOs, and ensure compliance with all investor requirements, regulatory requirements, and Associated Credit Union policies and procedures.

Essential Functions & Core Duties

General

• Provide guidance in resolving complex or challenging loan transactions, assisting the MLOs with loan scenarios, re-structuring applications, evaluating loan documentation, investor guidelines and pricing, to achieve the best possible outcomes, all while giving staff the opportunity to develop and contribute to the solution.
• Manage the loan set up process and coach the MLPs to support the MLOs, as needed. Provide training to the MLPs and seek feedback from the MLOs about the support they need.
• Conduct regular meetings with the MLO staff and set up goals and procedures for continued improvements in quality standards.
• Seek regular feedback from Underwriting for the accuracy and completeness of the files submitted for a decision, using that feedback for coaching and training purposes.
• Develop sales scripts, standard email replies, website materials, etc. to maximize MLOs efficiency & improve member satisfaction throughout the process.
• Standardize and manage the leads generation and tracking process, and ensure MLOs handle member inquiries in a timely manner and according to the established process aligned with S.A.F.E. Act requirements.
• Monitor the frequency, and analyze the causes for, expenses (cure fees, lock extension fees or waived fees) paid by ACU, resulting from errors and/or oversights, and take the actions necessary, including but not limited to training, changes in processes and procedures, and termination, as needed. Set up a threshold for tolerance, job objectives, and goals for training and improvements for the MLOs.
• Originate and fund the required minimum number of Mortgage and Home Equity loans per month.

Compliance

• Keep abreast of the latest investor requirements and regulatory compliance changes; take the training courses necessary to gain the knowledge and understanding needed, and provide regular updates and training to the team.
• Monitor application pipeline and conduct pipeline meetings with the MLOs to ensure all applications are ECOA compliant and members are contacted in a timely manner; pre-approvals are followed up on regularly and updated every 14 days.
• Review the internal and external, audits and examinations and address any findings relative to the loan origination stage of the process, and any adverse actions taken, with the team, providing the training and coaching needed to prevent future deficiencies.
• Review the TILA-RESPA requirements with the MLOs on ongoing basis and ensure the team understands the fees tolerances, timelines and disclosure requirements.
• Monitor and ensure compliance with the S.A.F.E. Act requirements by implementing procedures for timely and accurate updates and registries to the Nationwide Mortgage Licensing System and Registry, coordinate training for any newly hired MLOs, about their responsibilities under the law, within the first 60 days, and the annual fingerprints and attestation for all MLOs employed by ACU.

Strategic & Marketing

• Work with Marketing to identify areas of opportunity, attend Business Development events, as needed, and provide input for mortgage related initiatives and marketing materials.
• Increase mortgage loan production by developing business / referral contacts and attract new base of mortgage customers, within the credit union's charter.
• Generate new mortgage loan applications by building ongoing mortgage referral network and developing relationships within the real estate community.
• Identify, provide input and help create programs and strategies to increase loan volume & per-loan profitability.
• Cultivate the relationship with Members First Mortgage and promote their services with the MLOs and the ACU staff for maximum awareness and utilization by our membership. Utilize the reports available for leads, popularity and tracking, and use the results to explore opportunities and future business needs.
• Promote the credit union's mortgage products amongst our membership base and ACU employees. Work with the Consumer Loan Sales Manager to assist with ongoing training for the consumer lending staff to create awareness and recognize cross sale opportunities.

Staff Development, Coaching and Training

• Accountable for recruiting, hiring, developing and retaining qualified, high-performing mortgage originations staff. Recommend staffing levels and personnel actions such as hiring, firing, promotions, transfers, salary actions, and staff training.
• Performance management activities include, but are not necessarily limited to performance reviews, performance improvement plans, coaching and training, scheduling work hours, and cross training.

Member Experience

• Assist, as necessary, with the resolution of any member service issues escalated to management level and exercises professional judgment in further escalating to the SVP, Lending only when necessary.
• Respond to all escalated loan-level scenarios promptly and thoroughly, and communicate resolutions to all stakeholders to further improve processes and/or avoid similar problems from arising in the future.
• Establish member service delivery standards and monitor service levels against such standards on a regular basis.

Other Duties & Responsibilities

• Develop, maintain, reconcile, and report the incentive plans earned and paid to the Mortgage Loan Originators and the Home Equity Loan Originators. Work with Accounting, HR, Compliance, and the SVP, Lending to ensure that the reports and commissions are calculated and paid accurately by the 2nd payroll of each month.
• Handle overflow sales calls and serve as a backup for the MLOs and the MLPs during high application volume or absences.

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Qualifications

Education:

• Bachelor's degree preferred, but not required.

Experience:

• Minimum of five (5) years of mortgage production experience, with focus on sales, sales management, business development, marketing, member service, and compliance.
• Minimum of one (1) year of supervisory or management experience.
• Must demonstrate thorough knowledge of Fannie Mae/Freddie Mac guidelines, as well as credit union lending policies, procedures, and regulations.
• Must possess a thorough understanding of the requirements and features of the mortgage loan programs offered by ACU, other private investors, and the secondary mortgage market.

Core Competencies:

• Strong leadership abilities combined with solid management and recruitment skills.

• Excellent oral and written communication skills required.
• Strong loan math calculation skills including the use of automated spreadsheet development and basic analytics required.
• Analytical decision-making ability with attention to detail.
• Ability to learn and work in a fast-paced work environment.
• Ability to multitask and prioritize work as required.
• PC proficient to include: Word, Excel, Outlook, internet and e-mail.

Performance Metrics

• Applications Generated
• Mortgage Loans Closed and Funded
• Home Equity Loans Closed and Funded
• Approval Ratios
• Funding Ratios
• Processing Time
• Accuracy of Mortgage Loan Pricing
• Employee Satisfaction
• Member Satisfaction

This job description is not intended to provide an all-inclusive listing of related job activities. Management may request the incumbent to perform other related activities in place of or in addition to those representative activities noted in this job description.