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Mortgage Loan Manager

Posted on Feb 2, 2019 by White Sands Federal Credit Union

Las Cruces, NM 88001
Banking
Immediate Start
Annual Salary
Full-Time

Summary Description

Responsible for the daily operations of the Mortgage Loan Department, including compliance with relevant state and federal mortgage lending laws. Monitors and analyzes economic conditions affecting the Credit Union Mortgage Loan Department and recommends appropriate action.

Essential Duties

  • Ensure mortgage loan policies, procedures, services, and products meet federal and state regulations, and investor requirements
  • Oversee the day-to-day administration of the Mortgage Loan Department; ensure that the department is well maintained, efficiently operated, and properly staffed by fostering an environment that attracts and retains a competent workforce
  • Direct the department's personnel administration activities including job assignments, training, and performance evaluations
  • Formulate and maintain complete mortgage loan procedures manual for staff training and referral
  • Establish budgets for Real Estate Department and monitors progress with emphasis on revenue generation and forced savings
  • Maintain up-to-date knowledge of general economic conditions that may affect the credit union Mortgage Loan Department
  • Maintain knowledge of competitors' rates, terms, etc., and other trends relating to real estate lending
  • Provide input and recommendation for mortgage lending interest rates
  • Monitor and coordinate the discretionary mandatory mortgage loan interest rate changes
  • Develop, analyze, and complete monthly loan reports
  • Review real estate loan approvals for soundness of decisions
  • Perform audit of real estate loan files to ensure quality and that real estate lending policies are followed
  • Develop real estate loan business through call to Realtors, Contractors, and other Institutions, and through member seminars
  • Establish and monitor control procedures for first mortgage loan portfolio
  • Give opinion on approvals or denials on real estate loan applications, and explain reasons for denial
  • Ensure that each real estate loan is processed accurately
  • Oversee accurate records of insurance and taxes on real estate loans, to ensure property taxes and insurance premiums are calculated correctly, and mortgage payment are adjusted accordingly
  • Manage second mortgage portfolio; develop marketing plan with the assistance of the Marketing Director for these products
  • Oversee delinquent Real Estate loans and take action, as necessary
  • File necessary papers with the various counties for all real estate loans
  • Oversee annual HMDA report
  • Evaluate and add new investors to expand correspondent lending channels
  • Monitor foreclosure proceedings
  • Monitor HELOC term dates, renewals and closeouts
  • Prepare ESCROW Analysis
  • Send adjustable rate change notices to members monthly
  • Substitute as Branch Manager, as needed
  • Assist in any area as directed by the Vice President (Operations) or chain-of-command thereof

Reference: 636065911