VP, Home Loans - Patelco Credit Union

About Patelco Credit Union:

Patelco Credit Union is a not-for-profit credit union with a purpose to build financial health and wellbeing for our members. Since 1936, Patelco has grown from $500 in assets to over $9 billion in assets and is the 7th largest credit union in California with branches throughout Northern California.

 

We are here for our members throughout all their stages of life. Meeting them with the products and services to help them plan purposefully for their futures and to secure our life-long partnership as their trusted financial advocate. As one team, we are all committed to delivering service, empowering financial literacy, creating products, and providing new technology for our members.

 

We believe that work should be rewarding, challenging, and enjoyable. We’re dedicated to creating a positive and supportive culture where our team members can thrive. If you’re looking to use your skills and knowledge to make a difference in our members’ lives, Patelco could be the perfect fit for you.

Overview:

In this role, responsibilities will include management of the sales team, providing directional and operations support to all functional areas of the Mortgage Lending organization, leading a team of 75. This leader will have full accountability of the performance of mortgage and home loan equity portfolio and business performance. Key responsibilities include leading, establishing and maintaining the home lending department’s strategies, objectives, goals, and budget. This includes loan origination, new product and portfolio management development, secondary marketing, pricing, and loan servicing. The successful candidate will be a collaborative partner, possess high achievement drive and the proven ability to lead a business unit to high performance.

Responsibilities:

• Develop strategic direction for Home Loans organization and drive departmental goals based on corporate objectives
• Inspire and motivate management team to create a service-oriented and results-driven culture in the department and organization.
• Develop, communicate, and implement strategies to achieve volume, profitability, service quality and compliance goals.
• Manage monthly and annual goals and ensure appropriate metrics are established for sales, production, and service
• Responsible for compliance and monitoring regulatory changes that impact the origination or servicing of home loans
• Responsible for maintaining approval with investors
• Responsible for the profitable delivery of whole loan sales to secondary market participants
• Develop and maintain a quality control plan that meets investor and regulatory requirements
• Responsible for the quality control and audit of every home loan originated by Patelco Credit Union
• Develop and maintain highly effective pricing management policies and procedures to meet product return requirements
• Interact with regulatory agencies and third-party auditors and respond to audit findings
• Promote excellent service at every touch point within department in an effort to achieve outstanding member service ratings, handle escalations in a timely and appropriate manner
• Develop internal operating guidelines and ensure that internal policies and procedures as well as regulatory compliance standards are met
• Review and create reports to monitor workflows and ensure that all Mortgage Lending areas are operating efficiently and effectively, leveraging industry best practices
• Manage vendor relationships and 3rd party service providers related to mortgage lending
• Proficient in all MS applications and able to create complex spreadsheets using Excel to analyze reports, loan files, and other data to identify and resolve issues
• Ability to create and deliver presentations to Executive Management and team members, communicating corporate goals, strategies, and results
• Being an active and advising member of both the Credit Risk Committee and Asset Liability Committee
• Other duties as assigned
• Knowledge of capital markets; be able to understand market conditions to better identify threats and opportunities.
• Knowledge of Fannie Mae and/or Freddie Mac selling and servicing guidelines
• Knowledge of federal and state home loan servicing laws and regulations (ie MDIA, HMDA, RESPA, Fair Credit Reporting Act, Dodd-Frank Act of 2011, ECOA)
• Ability to use statistics to model pricing, understand interest rate movements, hedge forward commitments
• Ability to coach and develop a team for high performance
• Strong organizational skills; proficient to lead departments with varied objectives and purposes
• Must be collaborative, a good communicator, and possess the ability to establish attainable goals
• Understand and comply with all applicable federal and state laws and banking regulations (including those related to OFAC and Bank Secrecy Act / Anti-Money Laundering compliance) and Patelco Credit Union's policies and procedures

Qualifications:

• BA degree or equivalent experience.
• 10+ years’ experience in home lending or mortgage area are required
• 5+ years of senior management experience in home lending or mortgage for a regulated financial institution are required
• 3+ years’ experience delivering loans to the secondary market (ie. Fannie Mae, Freddie Mac) is required
• 5+ years’ experience developing home loan products is preferred
• 5+ years’ experience overseeing the origination of home loans is preferred
• Proficient in PCs and MS applications, including Word, Excel, PowerPoint, and Outlook
• 3+ years’ experience working with DU and web-based mortgage loan origination system is preferred 

Target Base Pay:

$250,000-265,000/year

Compensation at Patelco:

Please note that the salary information is a general guideline only. Patelco Credit Union considers factors such as (but not limited to) scope and responsibilities of the position, candidate's work experience, education/training, key skills, internal peer equity, as well as market and business considerations when extending an offer. We offer a competitive total rewards package including a wide range of medical, dental, vision, financial, and other benefits.

We Offer:

Physical Health:

• Exceptional Medical, Dental, Vision, and Life Insurance benefits
• Onsite fitness center at HQ and rewards for completing wellness related activities 

Financial Health:

• Competitive compensation packages with bonus opportunity
• 401(k) with 3% Safe Harbor and 5% employer match
• Discounts on loan products
• Tuition reimbursement

Emotional Health:

• Employee Assistance Program (EAP)
• PTO for part-time and full-time positions
• Paid holidays

Personal Development:

• On-the-job training and skills development

• Internal transfer opportunities for career growth
• Volunteer work

Flexible work arrangements available for specific positions

 

Patelco Credit Union is an Equal Opportunity Employer including individuals with disabilities and protected veterans

 

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