Secondary Market/Consumer Lending/Project Manager
4 days left
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Newtown Savings Bank is seeking an organized, residential lending professional for the role of a Secondary Market/Consumer Lending Project Manager.
This position is responsible for overseeing the Secondary Market and Consumer Lending area, managing its employees, processes, and production. In addition, this role supports Retail Lending by delivering projects within an established time line. The Secondary Market/Consumer Lending Project Manager is a key member of the team, and participates in program and project development, disseminates project information and is an active participant in project-related work groups and committees.
PRIMARY ACCOUNTABILITIES/RESPONSIBILITIES: SECONDARY MARKET:
Manage relationships with investors such as Fannie Mae, Freddie Mac, M & T, Franklin American and Freedom Mortgage, source new investors and loan programs, perform annual recertification process and ensure compliance with investor requirements.
Perform mortgage pipeline management, including hedging, to minimize market interest rate risk exposure. Work collaboratively with Mortgage Operations to ensure that rate locks and secondary market delivery dates are met.
Define and carry out pricing & delivery strategy to achieve stable, targeted profit margins.
Monitor and maximize pull-through rates and report on commitment strategies.
Determine market conditions for competitive loan pricing. Monitor daily interest rate pricing and make changes to interest rates as necessary to limit the Bank’s long term interest rate risk. Oversee the Pricing Desk functionality including Product eligibility, Pricing Engine and Company communication.
Oversee the management of the mortgage loan pipeline to optimize execution of secondary market sales.
Oversee the secondary market function utilizing Encompass system functionality to monitor loan sales, delivery dates, gains/losses on sale and pipeline coverage.
Prepare necessary reports regarding Gain on Sale, Loans Sold etc.
Oversee pricing exceptions, extended rate locks. Oversee fall-out monitoring and make recommendations for hedge coverage based on marketing and pipeline performance.
- Oversee the timely delivery of all loan documentation to the Investor and work with Post Closing to resolve any delivery issues that may arise.
PRIMARY ACCOUNTABILITIES/RESPONSIBILITIES: CONSUMER LENDING:
Management of the consumer processing and underwriting pipelines. Conduct department meetings to review pipelines, product and system updates.
Supervise, motivate and train the staff as necessary on all new products and systems.
Review and challenge the integrity of department procedures, underwriting guidelines and workflow processes.
Prepare and monitor quarterly Key Performance Reports (KPI) for the Consumer Processing Area.
Oversee the Consumer and Home Equity Line of Credit process. Assure that the processing and underwriting meets loan policy criteria. Approve all loans within approval lending authority. Review all counter offers and adverse actions for accuracy.
Implement new products or systems as necessary and maintain relationships with all vendors. Ensure that all appropriate Consumer Lending channels have been developed and are operating efficiently; Branch, Mortgage Banker, On-line and Mobile.
Oversee the Consumer credit card approval process as well as the purchase of indirect auto loans from BCI.
Conduct all employee review process; goals and performance appraisals as well as prepare annual budget for Consumer Lending.
Interface closely with the Customer Experience Initiatives and the CRM team to facilitate the changes mandated by those projects.
PRIMARY ACCOUNTABILITIES/RESPONSIBILITIES: PROJECT SPECIALIST:
Working in conjunction with Retail Lending staff and department management team, assist with the implementation of program initiatives and projects. Plan, develop, implement and evaluate programs and projects within the Retail Lending department, coordinate project activities, collaborate with team members, develop measurable project goals and objectives and monitor progress toward achievement.
- College Degree or a minimum of 3 years’ experience in leading a successful team. 1-2 years of experience with project development is a plus.
- Experience managing investor relationships i.e. (Fannie Mae, Freddie Mac)
- Familiarity with mortgage products and the loan origination process.
- Expertise in retail lending systems and at least two of the following areas are desirable: systems administration, training, or proposal development
- Strong critical thinking, problem solving and creativity
- Effective communication in both oral and written forms for a variety of stakeholders and the ability to deliver engaging, informative, and well-organized presentations including status reports and progress updates as needed. May need to communicate difficult or sensitive information tactfully.
- Strong project and time-management skills as well as the ability to multi-task. Must be able to prioritize responsibilities.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
Newtown Savings Bank is an equal opportunity and affirmative action employer regardless of race, gender, disability status, protected veteran status. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, age, marital status, national origin/ancestry, sexual orientation, gender identity, disability status, protected veteran status, or any other legally protected status.