VP, Home Loans

About the role

In this role, you will manage the sales team, provide directional and operational support to all functional areas of the Mortgage Lending organization, and lead a team of 75. This leader will have full accountability for the performance of the mortgage and home loan equity portfolio and business performance.

Responsibilities

• Develop strategic direction for the Home Loans organization and drive departmental goals based on corporate objectives.
• Inspire and motivate the management team to create a service-oriented and results-driven culture in the department and organization.
• Develop, communicate, and implement strategies to achieve volume, profitability, service quality, and compliance goals.
• Manage monthly and annual goals and ensure appropriate metrics are established for sales, production, and service.
• Responsible for compliance and monitoring regulatory changes that impact the origination or servicing of home loans.
• Responsible for maintaining approval with investors.
• Responsible for the profitable delivery of whole loan sales to secondary market participants.
• Develop and maintain a quality control plan that meets investor and regulatory requirements.
• Responsible for the quality control and audit of every home loan originated by Patelco Credit Union.
• Develop and maintain highly effective pricing management policies and procedures to meet product return requirements.
• Interact with regulatory agencies and third-party auditors and respond to audit findings.
• Promote excellent service at every touch point within the department to achieve outstanding member service ratings and handle escalations in a timely and appropriate manner.
• Develop internal operating guidelines and ensure that internal policies, procedures, and regulatory compliance standards are met.
• Review and create reports to monitor workflows and ensure that all Mortgage Lending areas are operating efficiently and effectively, leveraging industry best practices.
• Manage vendor relationships and third-party service providers related to mortgage lending.
• Proficient in all MS applications and able to create complex spreadsheets using Excel to analyze reports, loan files, and other data to identify and resolve issues.
• Create and deliver presentations to Executive Management and team members, communicating corporate goals, strategies, and results.
• Serve as an active and advising member of both the Credit Risk Committee and Asset Liability Committee.
• Understand capital markets to better identify threats and opportunities.
• Knowledge of Fannie Mae and/or Freddie Mac selling and servicing guidelines.
• Knowledge of federal and state home loan servicing laws and regulations (e.g., MDIA, HMDA, RESPA, Fair Credit Reporting Act, Dodd-Frank Act of 2011, ECOA).

Requirements

• BA degree or equivalent experience.
• 10+ years’ experience in home lending or mortgage area.
• 5+ years of senior management experience in home lending or mortgage for a regulated financial institution.
• 3+ years’ experience delivering loans to the secondary market (e.g., Fannie Mae, Freddie Mac).
• 5+ years’ experience developing home loan products (preferred).
• 5+ years’ experience overseeing the origination of home loans (preferred).
• Proficient in PCs and MS applications, including Word, Excel, PowerPoint, and Outlook.
• 3+ years’ experience working with DU and web-based mortgage loan origination systems (preferred).
• Ability to travel.
• Ability to use statistics to model pricing, understand interest rate movements, and hedge forward commitments.
• Ability to coach and develop a team for high performance.
• Strong organizational skills; proficient to lead departments with varied objectives and purposes.
• Must be collaborative, a good communicator, and possess the ability to establish attainable goals.

Pay

Target base pay: $240,000 - $260,000.

Benefits

• Physical Health: Exceptional medical, dental, vision, and life insurance benefits. Onsite fitness center at HQ and rewards for completing wellness-related activities.
• Financial Health: Competitive compensation packages with bonus opportunity. 401(k) with 3% Safe Harbor and 5% employer match. Discounts on loan products. Tuition reimbursement.
• Emotional Health: Employee Assistance Program (EAP). PTO for part-time and full-time positions. Paid holidays.
• Personal Development: On-the-job training and skills development. Internal transfer opportunities for career growth. Volunteer work. Flexible work arrangements available for specific positions.