Responsible for managing production staff and activities during the application, approval, and funding process. Underwrite files to Freddie Mac guidelines and portfolio lending standards to ensure timely and accurate processing of mortgage applications. Monitor processes for continuous improvement, efficacy, and compliance with applicable regulations.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
Manage the day to day oversite of the underwriting, registration, processing, and closing teams, including hiring, directing job assignments, monitoring staff performance, coaching, counseling, training, assuring compliance with regulatory requirements and organizational mission, values, policies and procedures.
Prepare and conduct performance appraisal reviews of direct reports and provide recommendations for compensation, promotion, and termination, as appropriate.
Review monthly pipeline activity and compute monthly incentive compensation for underwriters.
Ensures all mortgage loans are underwritten to Freddie Mac guidelines and portfolio lending standards; ensure that the underwriting team is aware of all changing requirements.
Monitor the daily underwriter pipeline activity to ensure that loan approvals are being completed according to bank service standards. Senior Underwriter provides daily assignments from the pipeline.
Monitor registration, processor and closer assignments, and closing schedule to ensure the department meets closing deadlines; work with staff as appropriate to ensure quality communication with customers, loan officers, real estate agents and title companies in support of closing loans on schedule.
Monitor the internal and external quality control and audits conducted and pertaining to all reporting teams. Work with appropriate staff in responding to quality control and internal/external audit findings, as well as Bank Examiners during examinations and implement any necessary changes identified.
Review monthly denial log activity to ensure compliance with timing of notifications and reporting for HMDA.
Resolve customer inquires both internal and external.
Keep current on loan programs, lending regulations, procedures, and documentation. Identify and provide suggestions for improving efficiencies in bank policy, procedures, and internal controls for mortgage loans, relating to underwriting guidelines, processing, and closing functions.
Coordinates Loan Operating System (LOS) software releases and upgrades with IT department according to FDICIA requirements. Conducts or oversees testing of LOS software releases and upgrades to minimize errors and problems following implementation. Responsible for the day to day oversight and maintenance of the LOS users and access rights according to FDICA requirements.
Oversees and participates in the workflow creation process when new procedures are implemented, and existing procedures are revised in the department.
Work closely with vendors regarding regulatory and procedural changes.
EDUCATION and/or EXPERIENCE
Bachelor’s degree (B.A.) from four-year college or university; 5+ years mortgage underwriting, processing, and closing in a banking environment managing a team of mortgage loan underwriters, processors, and closers; or equivalent combination of education and experience. Strong knowledge and understanding of Freddie Mac guidelines required.
Additional Salary Information: Bonus of 16% base salary also offered.
About The State Bank
The State Bank, an independently owned community bank, is headquartered in Fenton, MI. With 16 offices, over 200 employees and over $1.2B in assets - we are an exciting organization to consider.