Team Lead, Mortgage Operations
- Job Category: Banking/Financial
- Education: N/A
- FT/PT: Full-Time
- Company: Y-12 Federal Credit Union
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To process multiple mortgage transactions while maintaining internal and regulatory compliance, limiting risk to the credit union. Assist in loan growth and volume for a high producing sales team. Take an active role in meeting department goals by supporting management and providing direction to the processing staff. Act as a liaison between processing staff and management relaying training opportunities.
1. Provide oversight and direction to processing staff including assisting with questions on guidelines and loan files; training new processors with necessary process and procedures; monitoring the daily pipeline to ensure loans are flowing properly and timely; monitoring monthly tracking of recorded DOTs and Final Title Certificates.
2. Responsible for completing reports that provides projected closing numbers; Responsible for assessing and determining the processing staff needs by identifying and recommending training opportunities and process improvements for day to day operations to the department manager. Provide additional support to department manager as needed.
3. Collaborate with department manager and vendors by performing vendor management, collecting forms, SSAE16s and BCPs. Responsible for reconciling invoices and submitting to accounting for payment; Collaborate with investors or other departments as needed.
4. Responsible for processing pipeline, managing multiple FNMA, FHLB and portfolio mortgage products including construction to permanent loans; maintaining compliance with credit union procedures, mortgage regulations, QM, ATR, TRID, Reg Z, HMDA, ECOA, CFPB and secondary market guidelines; to submit loans to mortgage insurance provider for underwriting and clear conditions if applicable; to submit investor loans for DU, CU and Early Check systems; to prepare modification documents upon approval of mortgage modifications; to maintain detailed loans files; to deliver a “Wow” experience to members; maintain less than 10% error findings during audit.
5. Communicate with and assist members with their mortgage loans; Orders title work, appraisals, flood, verification of employments, HOA verifications, tax transcripts, hazard insurance and other services from third party vendors
6. Review all income, asset and other documentation received from third parties and members ensuring completeness, accuracy and reverence to conditions, addressing any discrepancies; Submits all conditions to underwriter.
7. To communicate with the closing agent that the loan is ready to close; Clear all closing conditions; Order payoffs, gather invoices and calculate closing figures and balance with closing agent/title company; Prepare, review and deliver to member a pre-closing closing disclosure compliant to guidelines as set forth by the CFPB and RESPA; Prepare all other closing disclosures/documents and deliver to closing agent/title company.
8. Assist and support other processors and their pipelines; back up first mortgage funding; complete other job related assigned duties as assigned.
Education: (1) A two year college degree or (2) completion of a specialized course of study at a business or trade school or (3) completion of a specialized and extensive in-house training or apprenticeship program.
Five to eight years of similar or related experience. Experience with FNMA, FHA, or Freddie processing standards required; or extensive experience with processing and closing multiple loans files with varying degrees of complexity.
Must be registered annually in the Nationwide Mortgage Licensing System (NMLS) License and all data must be kept up-to-date.