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Credit Union - Mortgage Operations Manager 

EOE StatementWe are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status or any other characteristic protected by law.

Job Description

Job Title: Credit Union - Mortgage Operations Manager

Department: Mortgage Department

Reports to: SVP/Chief Lending Officer

FLSA Status: Exempt

Summary: Tropical Financial Credit Union has been serving the South Florida Market for over 80 years. We guide consumers, businesses, and communities in which we work and live to help them save more money and feel good about banking. We continue to build upon our financial expertise as we help make South Florida a better place for your friends and family. Working together, we operate a fun and family-oriented work environment where every team member has the opportunity to learn and grow in their career and make valuable contributions to make Tropical Financial Credit Union a Top Workplace in the South Florida market and one of the Best Credit Unions to work for nationwide.

The individual in this position will be responsible for assisting Tropical Financial Credit Union in the achievement of its purpose of guiding members successfully through the financial marketplace. The Mortgage Operations Manager is responsible for managing the day-to-day operation of the Mortgage department to include the origination, processing, underwriting, closing, disbursing and servicing of first 1st mortgage loans. ensuring that all first 1st mortgage loans are in compliance with all federal and state regulations (RESPA, HMDA, Financial Fair Housing Act, Flood Insurance, Fair Credit Reporting, Truth In Lending Disclosure, Right of Rescission, etc.). The Mortgage Operations Manager must have complete working knowledge relating to real estate transactions, mortgage processing, underwriting to FNMA and FHLMC standards and secondary market operations.

In addition, the individual in this position alongside the SVP/Chief Lending Officer (SVP/CLO) is responsible for product development, enhancements, promotions and training of branch personnel in the specialty area.

Essential Duties and Responsibilities include the following. Other duties may be assigned.

  • Oversees and expedites the workflow process throughout the 1st mortgage unit by assigning the resources necessary to meet schedule requirements. Monitors production levels and makes necessary adjustments to ensure a smooth workflow at maximum output.
  • Makes recommendations to improve department operations. Implements new work procedures as approved.
  • Works with Loan Servicing and Secondary Market on the development and implementation of new loan programs. Reviews, recommend, discuss and updates policies and procedures as directed and supported by SVP/CLO. Ensures policies and procedures are adhered to.
  • Resolves problems, complaints and/or inquiries resulting from members, branch personnel and lending personnel inquiries.
  • Review problem files with staff to provide direction in reference to handling. Conducts periodic unit meetings to keep personnel up-to-date with information on services, revised policies and procedures, and system changes. Advises other Lending personnel (i.e., Loan Servicing, Mtge. Loan Quality Control) of any policy or procedural changes affecting the area.
  • Supports and encourages the development and training of department team members.
  • Assists in setting goals and objectives for the respective area. Implement plans affecting the area.
  • Assists with the preparation of the yearly budgets.
  • Audits function within the units to assure consistency and accuracy. Provides responses to SVP/CLO regarding audits.
  • Audits mortgage loan files, as may be required.Coordinates completion of variance files for submission to Loan Servicing for storage. Assures files are completed within acceptable timeframes.
  • Analyzes credit reports to identify cross-sales opportunities.
  • Approves first mortgage loans according to written policy guidelines and lending authority limits. Reviews supporting documentation to determine if standard underwriting guidelines are met, and adheres to policies and procedures. Approves, counters, or denies loan requests based on standard policies and procedures.
  • Develops and maintains the procedure manual for areas of responsibility.
  • Exercises the usual authority of a manager concerning staffing, performance appraisal, salary recommendations, promotions, and terminations
  • Working knowledge of Encompass with some administration experience. Work directly with Ellie Mae Virtual Admin for maintenance and enhancement of the Encompass system.
  • Working Knowledge of HMDAwiz system used to edit HMDA monthly, quarterly, and annually.
  • Working Knowledge of Freddie Mac Loan Advisor Loan Selling Advisor – committing loans and secondary lock desk back up
  • Working Knowledge of Fannie Mae Pricing & Execution site – committing loans and secondary lock des back up
  • Provide service that meets the Service Standards defined by Tropical Financial Credit Union as measured by the Internal Service Survey and Employee Opinion Survey; annual goals are established through the Performance Management Process in alignment with Strategic Initiatives.
  • Maintains comprehensive knowledge of the Bank Secrecy Act, Customer Identification Program, USA Patriot Act, OFAC, ECOA, Fair Lending, and HMDA. Comply with all TFCU policies and procedures to ensure compliance with such regulations is maintained within mortgage lending operations.
  • In addition to any other assigned training courses, online BSA and OFAC courses must be completed at least annually, as made available by the Training and/or Compliance Departments.

First Mortgage Origination/ Processing/Underwriting/Closing

  • Oversees the processes and/or coordinates activities of loan processors to assure complete, proper and timely mortgage processing.
  • Oversees the preparation of closing documentation, disclosures, and disburses proceeds.
  • Evaluates and underwrites mortgage applications, assures that all underwriting conditions are met, including meetingFNMA/FHLMC standards prior to closing the loan.
  • Keeps informed and advise management of current practices in loan underwriting, including new trends in the local real estate market and loan programs offered by competitors.
  • Responds to any quality issues cited by either Quality Control officer, outside QC vendor or Secondary market investor.
  • Review Title requirements for accuracy and conformance to regulations and FNMA/FHLMC

Mortgage Quality Control

  • Maintains and Audits approved loans and delinquency reports to assure that policies and practices are followed.
  • Assures that escrow activities conform to company policies and legal requirements; advises mortgagors regarding escrow transactions and the terms of acceptance and disbursal; maintains records as required; fulfills other escrow related requirements. Prepares commitment letters with required contingencies; prepares closing documentation and disclosures; assures closing contingencies are met and disburses the loan.
  • Submits annual Eligibility Certification Report to Freddie Mac
  • Prepare and work with Compliance Officer for periodic audits by internal auditors and regulatory agencies.

Mortgage Staff Coordinator and Resource

  • Develops and trains support team members in first mortgage origination procedures, Federal and State regulations, underwriting standards and TFCU policies and service standards.
  • Coaches loan underwriters, processors, closers and other first mortgage staff in work procedures and processes.
  • Development of self - May attend professional associations or training to ensure knowledge is up to date.
Position Requirements

Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below 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.

  • Knowledgeable about the profitable operation of a Mortgage company.
  • Strong underwriting background.
  • Hands-on experience with processing, shipping and disbursing 1st Mortgage loans.
  • Automated processing system knowledge required.
  • Must have excellent written and verbal communication skills.
  • An individual in this position is required to interact regularly with all credit union employees and external vendors; therefore, outstanding interpersonal skills are a must.
  • Ability to meet deadlines in an organized and timely fashion.
  • Initiative and flexibility.
  • Willingness to promote and stay up-to-date on organizational policies, procedures and federal and state legislation impacting the 1st mortgage industry.
  • Effective planning, analytical and decision-making abilities.
  • Demonstrated ability to lead, motivate, engage, develop, coach, and ensure accountability to the activities of others.
  • Demonstrated ability to implement and ensure accountability to a workflow control process and follow up procedures.

Education and/or Experience

  • Five years of experience successfully supervising a Mortgage Banking Operation required, Credit Union experience preferred.
  • Three years of proven and successful leadership experience required.
  • Bachelor or Masters Degree preferred.
  • Minimum of five years experience selling, brokering, shipping and disbursing 1st Mortgage loans required.

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand, walk, sit and use hands to handle or touch. The employee is occasionally required to reach with hands and arms. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, and ability to focus. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Full-Time/Part-Time Full-Time  
Exempt/Non-Exempt Exempt  
Location Headquarters  
About the Organization Tropical is a not-for-profit, member-owned and member operated financial cooperative, serving South Florida since 1935. We operate a fun, and family-oriented work environment where every employee has the opportunity to learn and grow in their career and move up within the organization. It's an organization that values your contributions and rewards you for your performance. TFCU has proven to be an organization that is dedicated not only to TFCU's success, but the success of its employees and the financial success of our members.  

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