milford, CT — Full Time
General Purpose and Scope: This position reports to the Director of Operations of Total Mortgage and is responsible one direct report at the Team Lead level and indirect reports at the staff level. This position monitors all aspects of shipping production to avoid pricing penalties and meet the delivery requirements per investor and warehouse agreements. Directs staff to meet shipment goals and timely clearance of all post-closing suspense conditions. Responsible for reviewing current post-closing processes to improve salability of loans and decrease the cycle time of suspended loans. Maintain an efficient and compliant Post-Closing department.
Responsibilities / Functions:
- Daily pipeline review with Team Lead on loans to be shipped, shipped and not suspended and suspended and not purchased to ensure purchase deadlines are met.
- Provide guidance and supervision on swift problem resolution.
- Liaison between Operations Management (Director of Operations, Underwriting, Closing, Valuations, Servicing)
- Maintain overall basis point suspense loss of 3 bps or under on purchased loan population.
- Completion of Manager Panel in LOS system. Suspense losses must be reviewed, responsible party selected and reason for the suspense entered for report tracking and training opportunities.
- Collaborate with warehouse banks to meet curtailment windows
- Meet weekly with Post –Closing Associate to address any issues relative to insuring loan.
- Meet weekly with Post-Closing Assistant to ensure that trailing documents are obtained and delivered in a timely fashion to avoid incurring of penalties.
- Ensure that all agency and mortgage insurance company Post-Purchase audit requests are completed in a timely manner
- Ensure that all investor Post-Purchase requests are completed in a timely manner
- Work closely with Team Lead to train Post-Closing Staff, identify areas of inefficiencies and propose effective resolve to Director of Operations
- Complete required compliance training and testing.
Personal Traits / Competencies:
- Experience managing teams consisting of both direct and indirect reports
- Excellent leadership skills.
- Strong detail orientation. Organizational and time management skills.
- Ability to make assertive, logical, and compliant decisions.
- Excellent verbal and written communication skills.
- Ability to train others.
- Ability to multi-task and adapt quickly in an ever changing market.
- Ability to work effectively in a positive and professional manner under time constraints.
Technical / Computer Skills:
- Knowledge of third party mortgage software and imaging systems including, but not limited to Encompass360
- Proficiency in Microsoft Office with a strong emphasis on Excel skills.
- Ability to pick-up new LOS systems and understand new websites quickly.
- Conduct web searches on town, county, and state websites.
Education and Experience:
- Knowledge of banking regulations; i.e. Regulation Z, RESPA, HMDA is a must
- Knowledge of investor, product, and warehouse bank guidelines.
- Final documents, collateral, loan shipping, servicing, and purchase clearing experience.
- 1-2 years’ experience in a banking or financial lending institution as a closer, processor, or post-closing reviewer is required
- Management: 1 year
- Customer Service: 3 years
- General knowledge of retail, wholesale, broker and correspondent lending
- Bachelor’s Degree or equivalent work experience in the Mortgage Industry as a Manager
Certifications, Licenses: N/A
Hours for position: Monday – Friday 9:00 AM to 5:00 PM
May require over-time; must be available to work additional hours on short notice as determined by management to meet service level agreements.
Please send your resume and cover letter to [email protected].