| Description | POSITION SUMMARY:
This position oversees the administration of Reverse and Traditional Mortgages and ensures loan production complies with First Midwest Bank lending guidelines, secondary market investor requirements, and applicable Regulatory requirements. This employee will oversee the training, mentoring, and production of all Mortgage Loan Processors and Mortgage Loan Closers.
REQUIRED EDUCATION, EXPERIENCE AND SKILLS:
- High School diploma or GED required
- College degree preferred
- 5 years mortgage lending experience (Processing/Closing experience required)
- 5 years of management experience required
- Excellent oral and written communication skills
- Initiative and ability to create relationships of trust with customers, investors and bank personnel
- Excellent organizational and data gathering skills
- Extensive reverse mortgage process training preferred
DUTIES/RESPONSIBILITIES:
- Analyze work volume to detect any recurring trends or patterns, which may be hindering customer service
- Provide regular feedback, Product changes or other communication to Residential Lenders
- Develop proposals for solutions to recurring problems and present to management
- Assist mortgage staff with resolution of specific loan related issues
- Create, maintain and implement changes as needed to process flow and procedures manual for Mortgage Division
- Develop effective rapport with the Residential Lenders and Sales Manager regarding processing/closing issues, salability issues and customer service levels
- Ensure loan production complies with applicable Regulations, secondary market investor requirements, First Midwest Bank credit policy guidelines, and established customer service standards
- Identify investor service delivery issues and work with management and investor designees for satisfactory resolution
- Create and Maintain adequate controls to ensure compliance with consumer protection statutes/regulations in a defined area of policy and changes relating to regulatory amendments
- Maintain, revise, communicate and implement loan procedures to new and existing production and operational support staff on on-going basis
- Manage the daily activities and work flow for the Mortgage loan processors/closers
- Monitor changes to investor products and procedural standards, adjust internal process to reflect required changes and convey information to mortgage staff
- Provide assistance to sales staff for regulatory, program and investor issues/questions
- Work with Compliance Officers on compliance review/audit, both external and internal
- Provide written and verbal communication on any deficiencies reported, and correct issues as directed
- Supervise the timely receipt of loans and review of loan documentation for loans to ensure files contain correct and required documentation for processing or sale to outside investors
- Review Quality Control reports and provide a written response to management as well as follow up training with staff on any deficiencies
- Conduct employee performance reviews
- Perform all coaching and performance activities to ensure optimum performance of staff
- Motivate staff to work as a team and to maintain a department reputation for accurate and efficient processing and closing of loan files, good communications with Lenders, customers and management
- Oversee the scheduling for employees; Approve time off requests to ensure sufficient staff coverage to meet customer service needs
- Work with and maintain 3rd party vendor relationships to ensure a high quality of work and customer service standards are met
- Provide job training to assigned staff in both a structured and as needed basis, to ensure knowledge base of staff is sufficient to meet demands of loan production
- Ensure that all mortgage loan file documentation is ordered, reviewed & submitted in a timely fashion; in compliance with all regulatory and investor guidelines in order to move mortgage loan files from origination to closing within 30 days
- Monitor daily pipeline reports to identify negative trends, problem loans, or lock-in issues
- Keep self and Mortgage staff informed of all changing rules and regulations pertaining to FHA/VA & Conventional regulations, as well as reverse mortgage requirements
- Provide outstanding customer service and display positive attitude at all times
- Obtain Satisfactory ratings on all Compliance/Audit reviews
The position responsibilities outlined above are in no way to be construed as all encompassing. Other duties, responsibilities and qualifications may be required and/or assigned as necessary. This position requires regulatory compliance including finger printing and a background check.
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