Job Description:

Schedule: During training, in office 5 days. After, hybrid 3 days in office and 2 WFH.

JOB DUTIES AND RESPONSIBILITIES:

Management

• Assists VP, Mortgage and Equity Production in managing mortgage processing function by developing and maintaining a work environment that ensures that all employees are accountable for producing quality loan files and for providing excellent member service.
• Ensures the following:
  • Processors perform all job responsibilities in at timely manner and ensuring quality loan files are presented to underwriting.
  • Disclosure desk analysts perform all job duties in a timely manner and ensuring mortgage and equity disclosure packages are accurate and comply with prescribed regulation timelines at time of delivery to members
  • Appropriate documentation is completed and reviewed prior to submitting the loan for review
  • All loan quality benchmarks, productivity standards, and member service levels are met or exceeded.
  • The processing workflow operates smoothly, efficiently, and produces quality mortgage loans.
  • A high level of data integrity and accuracy of all loans as measured by the number and severity of audit/QC exceptions reported by both external and internal reviews.
• Provide staff with continual, constructive feedback on performance
• Partner with VP, Mortgage and Equity Production in addressing personnel issues and problems in a timely manner, while ensuring consistent documentation and seeking assistance from Human Resources as appropriate.
• Partner with VP, Mortgage and Equity Production to provide feedback on performance reviews as well as setting and developing goals
• Interface professionally with members, business partners and mortgage staff to ensure a successful mortgage process
• Is an active participant of the mortgage management team. Maintains a dynamic and cooperative relationship with all members to develop smooth process transitions from loan production to pre-closing and closing.
• Champions the goals set by the mortgage management team to staff and others and actively works in support of achieving those goals
• Fosters an environment of overall high employee engagement as represented by staff feedback, employee survey results and a well established and clear communication cycle with staff, team and others
• Collaborate with VP, Mortgage and Equity Production in conducting monthly team meetings to discuss lending objectives, activities, and/or strategies on which to focus.
• Acts in the absence of the manager as needed.
• Assume the role of mentor, advisor, trainer, coach, leader to the Processing and Disclosure Desk Analyst Team by promoting an environment that encourages employee participation in determining how best to serve our members, operate most efficiently, and achieve the goals set by the mortgage management team and Virginia Credit Union.

Pipeline Management - Processing

• Review overall pipeline volume, file flow and processing time frames.
• Monitor mortgage and equity loan pipeline to ensure key performance indicators (KPIs) are met
• Utilize daily, weekly, and monthly production reports to effectively manage the loan life cycle
• Identifies and follows up on any loans that are in need of attention so as to ensure member and business partner expectations are met or exceeded
• Identifies and assists in solving issues that arise during the loan process
• Works with mortgage management team on a daily basis to resolve roadblocks
• Manage team turns times from applications through closing to ensure closing dates are met
  • Ensure the following:
    • That mortgage and equity applications are processed accurately and the appropriate workflows are utilized.
    • That processor work loads and file assignments are balanced daily.
    • That applications are progressing through the workflow timely
    • A weekly review and prioritization of processor files as well as conduct follow ups on loans experiencing delays
  • Constantly review the processing workflow and make recommendations to facilitate improved communication, increase quality of work performed, and maximize operational effectiveness.
  • Daily review of income based loans as they are assigned to processors to ensure loan requirements are met (i.e FHA, VA, Virginia Housing, FHLB, USDA)
  • Monthly review of the aged pipeline taking of required action
  • Provide feedback to the VP, Mortgage and Equity Production on staff performance as it relates to overall pipeline management
  • Constantly communicate and collaborate with all departments regarding status of to loans to achieve the best outcome for the member and the team.
  • Examine and implement new processes as required to maintain accurate loan files, help to improve communication, enhance member service and maximize operations effectiveness
  • Maintain a strong working knowledge of all processing processes and procedures and act as a resource to peers/staff for questions (including conventional, FHA, VA, VHDA, USDA-RD, third party investor, equity, and portfolio products)
  • Conduct weekly pipeline meetings with staff to go over active loans in the pipeline

Disclosure Desk Management

• Partner with Disclosure Desk Analyst to develop month/annual goals that support individual development, as well as, mortgage and equity department goals.
• Conduct monthly one-on-one, mid year and annual performance reviews routinely and that merit increase recommendations are suitable and associated to performance.
• Review and approve weekly timecards; sick and personal time off. Ensure appropriate coverage is in place to meet mortgage needs (become well versed to be a backup if needed).
• Address personnel issues and problems in a timely manner, while ensuring consistent documentation and seeking assistance from Human Resources as appropriate.
• Consistent communication to VP, Mortgage and Equity Production, Sales team (management and loan officers), Mortgage Closing & Delivery Manager, and all other necessary parties related to fee disclosure, initial disclosure and change of circumstances.
• Ensures the following 

Staff performs all job responsibilities in a timely manner, ensuring quality mortgage loans disclosed (Provide training as needed) All loan quality benchmarks are met or exceeded A high level of data integrity and accuracy of all loans as measured by the number and severity of audit exceptions reported monthly bye external and internal parties Minimal, non-repetitive tolerances through Encompass reporting and scorecards

• Explore, Enhance and Execute disclosure desk procedures, policies and job aids to maintain accurate disclosures and tracking for Initial Disclosure Packets, Loan Estimates, etc.
• Maintain direct oversight of the Disclosure Desk Dashboards and Inbox and conduct regular reviews to ensure disclosure requests are handled in a timely, consistent manner.

Member Service / Production Responsibilities

• Maintain the highest level of professionalism through all member and staff interactions by creating a supportive culture through collaboration and teamwork.
• Champion the awareness and use of the Virginia Credit Union CUSO Services (Virginia Statewide Title Services, Joyner Fine Properties, Virginia CU Insurance Services)
• Ensures the following:
  • Staff regularly and consistently communicate with members, teammates, and business partners regarding file status and any other relevant information
  • Mortgage/Equity loan system is updated timely and accurately
  • Teamwork within the department and internal member service standards are promoted and adhered to
  • Members are treated fairly and consistently in all mortgage and equity lending practices.
• Maintain a dynamic and cooperative relationship with all members of the mortgage management team to develop smooth process transitions from loan production to post closing
• Perform member experience call monitoring evaluations and identifies/acts on coaching opportunities
• Stays current on all mortgage and equity processing procedures to be able to serve as back up for staff during times of heavy volume, staff vacations, and/or absences, or as needed (i.e. employee loans)
• Resolve escalated member service issues promptly

Compliance

• Review/address/respond to monthly audit reports timely and champion any required procedural changes required.
• As needed, makes decisions on mortgage and equity loans in conformity with all applicable federal and state regulations including corporate policies and procedures. Stay up to date on all required loan documents, systems, credit reports, and related lending and regulatory requirements.
• Complete all required credit union trainings (i.e. BSA, Fair Lending, OFAC)
• Comply with Regulations B, C, X and Z regarding the completion of required disclosures including, but not limited to, TRID, the Loan Estimate, Closing Disclosure, Potential Transfer of Servicing Form, and if required, the Adverse Action form. Also included are compliance with FACT and FDPA (Flood), HUD housing counseling forms and program specific disclosures.
• BSA and OFAC responsibilities include but are not limited to the following:
  • Accurately perform all Bank Secrecy Act (BSA) and OFAC functions related to opening accounts, making account maintenance changes, approving and disbursing loans including, but not limited to OFAC verification, reporting suspicious activity to the Fraud Risk Management Department, and completing all required training.
  • Ensure that departmental procedures to support the credit unions BSA and OFAC policy are documented in writing, distributed to staff, and adhered to by all staff.
  • Ensure that all transaction and account maintenance information required under BSA is captured and records are submitted for record retention in accordance with the BSA record retention schedule.

• Comply with agency/investor disclosure requirements for conventional, FHA, VA, USDA, VA Housing mortgages and equity loans and lines of credit.
• Ensures loans that are disclosed to members meet ATR/QM standards
• Maintains and complies with policies, procedures, practices, documents and controls for the mortgage function to protect the interests of the Credit Union, and ensures compliance with state, federal, NCUA and other applicable regulations including but not limited to National Flood Insurance Program (NFIP0, Regulation B, Regulation C, Regulation X (RESPA), and Regulation Z (Truth in Lending), Potential Transfer of Servicing Form, and if required, the Adverse Action form.

Other

• Assists in the following:
  • Implementing approved new products and promotions to meet the memberships needs and stimulate mortgage and equity growth.
  • Communicating relevant information about mortgage and equity lending, products, and promotions are communicated to all employees and management
  • Assist with testing the mortgage/equity loan origination system new product and program releases and updates/upgrades as needed.
• Maintain an excellent working knowledge of current secondary market guidelines, including Conventional, FHA, VA, Virginia Housing, and USDA Rural Development. Responsible for communicating any lending policy changes to staff.
• Responsible for communicating any lending policy changes to staff. Must be able to understand and apply policies to all mortgage and equity lending situations.
• Consistently demonstrates top notch member service through consistent exemplary member service scores, member/business partner feedback and teammate feedback
• Consistently demonstrates positive communication both internally and externally
• Acts as a mentor to teammates and demonstrates respect for peers
• Consistently demonstrates top notch production metrics, pipeline management, and a strong knowledge of all mortgage and equity products requiring little oversight
• Demonstrates/promotes collaborative engagement with peers; active participation in meetings, being a positive contributor; creative/collaborative problem solving; and championing of our process, tools, and product offerings
• Understands and demonstrates management/leadership skills and competencies
• Other duties may be required and assigned.

BSA/OFAC

• Comply with all published enterprise level policies and procedures including, but not limited to, Risk Management policies.
• Complete all required, ongoing enterprise level training including, but not limited to BSA, OFAC, and Information Security.
• Report all Risk Management Policy violations in accordance with policy.

JOB QUALIFICATIONS:

Knowledge and Experience:

Significant first mortgage processing experience. Experience in first mortgage underwriting preferred. Areas of competency include excellent knowledge of mortgage documentation, mortgage banking regulations, and secondary marketing/investor guidelines. Must have an expert knowledge of conventional, government, and state housing finance agency residential first mortgage products. Experience utilizing Fannie Maes Desktop Underwriter, Freddie Macs Loan Product Advisor, Total Score Card, and USDA Guaranteed Underwriting System required. Experience working with Federal Home Loan Bank Set-Aside and other grant programs a plus. Prior first mortgage management/leadership experience preferred; demonstrated ability to manage and coach individuals in a variety of positions with a wide range of knowledge and skills; demonstrated ability to motivate, train, and develop staff. Experience with Encompass LOS a plus.

Skills and Abilities:

Demonstrated effective leadership skills that include creating and maintaining a positive work environment both with their team as well as peers. Strong verbal and written communication skills combined with the ability to make sound decisions. Excellent computer, problem solving, organizational skills and ability to multi-task are a must. Proficient in math calculations and possess the ability to perform mortgage calculations manually including the APR, finance charges