Purpose of Job
Provides management and direct oversight for Federal Savings Bank Mortgage Fulfillment in retail specific site operations centers including processing, underwriting and closing for all Real Estate products. This position will ensure that investor, regulator and USAA policies, and procedures and guidelines are consistently met and risk to the business is mitigated through execution of clearly defined QA processes. Leads large teams of mortgage fulfillment professionals who are responsible for fulfilling loans in an efficient, scalable, compliant manner that meet or exceed member satisfaction thresholds.
Job Requirements
- Identify and manage existing and emerging risks that stem from business activities and the job role.
- Ensure risks associated with business activities are effectively identified, measured, monitored, and controlled
- Follow written risk and compliance policies and procedures for business activities
- Oversight of all functional production roles in Fulfillment including Processing, Underwriting and Closing (Estimated annual production of $2 Bilion per month and annual operating budget of $58 Million)
- Responsible for the creation of strategic and operational plans needed to execute the strategic objectives in Fulfillment
- Direct responsibility for managing expenses related to resource costs, third party vendor spend, and controllable expenses related to rate lock extension fees and TRID cures
- Sets the strategy to manage Fulfillment costs to originate per loan at or below target for each calendar year
- Accountable for proactive pipeline management that includes, driving loans from Clear to Close while meeting or exceeding defined targets, timely disposition of aged loans, and strict adherence to member Keep Informed Routines
- Accountable for compliance with all regulatory and investor requirements to ensure loan salability and timely execution of the functional tasks included in Processing, Underwriting and Closing loans
- Leads and drives process improvements that will support development of an efficient, scalable, compliant workflow model
- Provides executive oversight on Real Estate related projects, including LOS implementation/enhancements, sales growth and product development
- Responsible for the overall compliant and effective performance of their organization through management routines containing communication, strategic alignment of objectives, goals and gaps to ensure alignment and coordination
- Develops leader of leaders, and first line management to ensure succession plan for all levels of management
- Performs as thought leader and player coach that ensures that all training and development efforts are in accordance with improving floor performance resulting in optimal member experience and salable loan performance
- Daily interaction with key business partners to ensure that issues/gaps are identified in a timely manner and tactical and strategic implementation is completed in alignment with regulatory and corporate standards.
- May represent Fulfillment at the Executive leadership level including Second line partners in Risk, Compliance and Legal
- Maintains current expertise on all national developments and trends in lending that may affect the competitiveness, quality, compliance, and/or profitability of products and services; Monitors industry practices guidelines and requirements for mortgage products and processes
Required:
- Bachelor’s Degree
- 4 additional years of related experience beyond the minimum required may be substituted in lieu of a Degree
- 10 years of proven mortgage operations management experience and/or relevant mortgage leadership experience including VA, FHA conventional loan programs, processing, underwriting and closing procedures
- 6 or more years of people leadership experience in building, managing and/or developing high performing teams
- Strong knowledge of first and second lien mortgage products and processes
- Extensive knowledge of investor guidelines, credit policies, secondary marketing and third-party vendor management services including credit, compliance, title, appraisal and mortgage BPO
- Experience leading teams and individuals through business transformation and change management efforts
- Experience managing work and influencing business outcomes in a matrix managed work environment
- Executive level business acumen of mortgage banking operations
- Strong working knowledge of federal and state regulatory rules and requirements
Preferred:
- Deep experience in end-to-end Mortgage Fulfillment
- Experience running Operations Centers at a large financial services company
- 8+ years of experience in mortgage operations
- Knowledge of process design / redesign and implementation
- Project management experience including the selection, design, and implementation of loan origination software
