Director, Residential Lending - Origination & Underwriting
Lighthouse Credit Union, Dover, NH, United States
POSITION SUMMARY
The Director, Residential Lending - Origination & Underwriting is responsible for overseeing all lending activities and business development for the Mortgage/Equity Department. Responsibilities include managing loan officers to assist in meeting business lending goals and personal growth development, including the solicitation and origination of mortgages, real estate-related and other credit union loan products. The position also oversees mortgage/equity underwriting. Incumbents must also allocate time outside of the office to be engaged in business development and consultation activities with borrowers, builders, realtors, and other referral sources.
ESSENTIAL FUNCTIONS & RESPONSIBILITIES
Oversees Mortgage/Equity Loan Department to ensure loan production goals are obtained. Reviews lending decisions within loan authority and reviews loans exceeding authority with SVP, Lending and/or EVP, Chief Revenue Officer. Monitors volume and ensure timely closings. Plans for back up underwriting and other departmental production needs. Builds, develops, and manages a team capable of carrying out department initiatives. Monitors pipeline reports and ensures staff is performing within service level objectives. Assists in the prompt resolution of all member inquiries. Arranges job duties/responsibilities in some logical order (examples: list duties/responsibilities in the sequence in which the job is performed OR list in order of importance OR list according to the amount of time devoted to each).
Participates in establishment of annual department budget for both mortgage/equity and monitors performance to budget throughout the year; establishes annual goals for mortgage programs and initiates action to achieve established goals.
Reviews annual staff performance appraisals and salary reviews and recommends personnel actions as appropriate, while developing growth plans for staff. Reviews and ensures performance standards and objectives are established and maintained for all staff. Monitors employee performance, counsels employees on issues as appropriate. Provides ongoing guidance to department management to assist with coaching and developing staff. Ensures developmental opportunities for staff in lending compliance and mortgage origination areas. Recruits, interviews, and hire quality candidates to fill vacancies as needed.
Oversees and evaluates products and procedures currently in place and recommends strategic initiatives to VP, Lending. Works with Marketing department in developing mortgage and home equity loan promotions. Keeps up to date on the mortgage industry and makes changes as required.
Works with Director, Residential Lending Operations to ensure the credit union is in compliance with federal and state lending regulations; develops procedural changes as compliance requires or new programs demand. Adheres to Lighthouse Credit Union's policy and procedures.
Allocates time outside of the office toward business development pursuits. Focuses on mortgage and other real estate-related loans, refer to consumer and small business loans. Cross-sells credit union products and services as appropriate. Coaches mortgage loan originators on increasing sales leads through community outreach activities and developing business partners all while building internal relationships. Represents the branches as appropriate in their relationship with members and sponsor organizations. Serves as an escalation point for sensitive member issues.
JOB SPECIFICATIONS
Thorough knowledge of credit union residential mortgage, lending products.
Knowledgeable of credit union underwriting guidelines for in-house and secondary market loans.
Familiarity with all federal and state banking regulations pertaining to lending compliance, and consumer compliance, including fair lending laws.
Extensive knowledge of TRID and other Mortgage Guidelines (FHA, VA, USDA, and Fannie/Freddie/FHLB).
Ability to prioritize objectives, balance multiple initiatives, and proactively identify and address potential issues.
Skilled in working in LOS and imaging environments.
Must be eligible to be licensed with Nationwide Mortgage Licensing System and Registry.
Ability to work outside of normal business hours is necessary to attend business development and networking events.
Leverage creative thinking and problem-solving abilities to assess and enhance current lending processes, drive efficiency, and improve outcomes while maintaining a high level of service.
Strong analytical and strategic thinking abilities, with a focus on improving operational efficiency.
Extensive professional network and the ability to establish and maintain valuable business relationships.
EDUCATION, TRAINING & EXPERIENCE
Bachelor's degree or equivalent combination of education and related work experience.
5 to 8 years of first and second mortgage residential real estate lending with experience with a financial institution.
Management experience in real estate residential lending, and servicing.
Must have experience in underwriting, processing, and closing conventional loans.
WORK ARRANGEMENT The working arrangement for this position is hybrid. Hybrid work is an opportunity to find the right balance between working in the office and remotely, especially if it supports individual success and the needs of our organization. Hybrid schedules are determined by the hiring manager based on business unit needs and may vary by department. This position requires attending events frequently across New Hampshire and Southern Maine. Our ideal candidate is willing to come into the office one to two days a week in Dover, NH.
BENEFITS & CULTURE
Back Office Benefits That Work for You
– We know life doesn\u2019t pause when you\u2019re at work and offer perks that help you stay healthy, grow your future, and take care of what matters most.
Financial Relief & Support
– Student Loan & Tuition Assistance; Employee Loan Discounts; Weekly Paychecks; 401(k) with Employer Match & Profit Sharing.
Time Off That Respects Your Life
– Lighthouse Leave Program; Volunteer Time Off (VTO); PTO + Paid Federal Holidays; Balanced Schedule (all branches close by 5pm and on Sundays).
Health & Wellness
– Comprehensive Medical, Dental & Vision Plans; HSA/FSA Options; Discounted Pet Insurance; Employee Assistance Program (EAP).
Culture & Connection
– Annual Bonus Program; Engagement Groups; Ongoing Training & Career Growth; Annual Summit & Team Outings.
LIGHTHOUSE CREDIT UNION IS AN EQUAL OPPORTUNITY EMPLOYER
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ESSENTIAL FUNCTIONS & RESPONSIBILITIES
Oversees Mortgage/Equity Loan Department to ensure loan production goals are obtained. Reviews lending decisions within loan authority and reviews loans exceeding authority with SVP, Lending and/or EVP, Chief Revenue Officer. Monitors volume and ensure timely closings. Plans for back up underwriting and other departmental production needs. Builds, develops, and manages a team capable of carrying out department initiatives. Monitors pipeline reports and ensures staff is performing within service level objectives. Assists in the prompt resolution of all member inquiries. Arranges job duties/responsibilities in some logical order (examples: list duties/responsibilities in the sequence in which the job is performed OR list in order of importance OR list according to the amount of time devoted to each).
Participates in establishment of annual department budget for both mortgage/equity and monitors performance to budget throughout the year; establishes annual goals for mortgage programs and initiates action to achieve established goals.
Reviews annual staff performance appraisals and salary reviews and recommends personnel actions as appropriate, while developing growth plans for staff. Reviews and ensures performance standards and objectives are established and maintained for all staff. Monitors employee performance, counsels employees on issues as appropriate. Provides ongoing guidance to department management to assist with coaching and developing staff. Ensures developmental opportunities for staff in lending compliance and mortgage origination areas. Recruits, interviews, and hire quality candidates to fill vacancies as needed.
Oversees and evaluates products and procedures currently in place and recommends strategic initiatives to VP, Lending. Works with Marketing department in developing mortgage and home equity loan promotions. Keeps up to date on the mortgage industry and makes changes as required.
Works with Director, Residential Lending Operations to ensure the credit union is in compliance with federal and state lending regulations; develops procedural changes as compliance requires or new programs demand. Adheres to Lighthouse Credit Union's policy and procedures.
Allocates time outside of the office toward business development pursuits. Focuses on mortgage and other real estate-related loans, refer to consumer and small business loans. Cross-sells credit union products and services as appropriate. Coaches mortgage loan originators on increasing sales leads through community outreach activities and developing business partners all while building internal relationships. Represents the branches as appropriate in their relationship with members and sponsor organizations. Serves as an escalation point for sensitive member issues.
JOB SPECIFICATIONS
Thorough knowledge of credit union residential mortgage, lending products.
Knowledgeable of credit union underwriting guidelines for in-house and secondary market loans.
Familiarity with all federal and state banking regulations pertaining to lending compliance, and consumer compliance, including fair lending laws.
Extensive knowledge of TRID and other Mortgage Guidelines (FHA, VA, USDA, and Fannie/Freddie/FHLB).
Ability to prioritize objectives, balance multiple initiatives, and proactively identify and address potential issues.
Skilled in working in LOS and imaging environments.
Must be eligible to be licensed with Nationwide Mortgage Licensing System and Registry.
Ability to work outside of normal business hours is necessary to attend business development and networking events.
Leverage creative thinking and problem-solving abilities to assess and enhance current lending processes, drive efficiency, and improve outcomes while maintaining a high level of service.
Strong analytical and strategic thinking abilities, with a focus on improving operational efficiency.
Extensive professional network and the ability to establish and maintain valuable business relationships.
EDUCATION, TRAINING & EXPERIENCE
Bachelor's degree or equivalent combination of education and related work experience.
5 to 8 years of first and second mortgage residential real estate lending with experience with a financial institution.
Management experience in real estate residential lending, and servicing.
Must have experience in underwriting, processing, and closing conventional loans.
WORK ARRANGEMENT The working arrangement for this position is hybrid. Hybrid work is an opportunity to find the right balance between working in the office and remotely, especially if it supports individual success and the needs of our organization. Hybrid schedules are determined by the hiring manager based on business unit needs and may vary by department. This position requires attending events frequently across New Hampshire and Southern Maine. Our ideal candidate is willing to come into the office one to two days a week in Dover, NH.
BENEFITS & CULTURE
Back Office Benefits That Work for You
– We know life doesn\u2019t pause when you\u2019re at work and offer perks that help you stay healthy, grow your future, and take care of what matters most.
Financial Relief & Support
– Student Loan & Tuition Assistance; Employee Loan Discounts; Weekly Paychecks; 401(k) with Employer Match & Profit Sharing.
Time Off That Respects Your Life
– Lighthouse Leave Program; Volunteer Time Off (VTO); PTO + Paid Federal Holidays; Balanced Schedule (all branches close by 5pm and on Sundays).
Health & Wellness
– Comprehensive Medical, Dental & Vision Plans; HSA/FSA Options; Discounted Pet Insurance; Employee Assistance Program (EAP).
Culture & Connection
– Annual Bonus Program; Engagement Groups; Ongoing Training & Career Growth; Annual Summit & Team Outings.
LIGHTHOUSE CREDIT UNION IS AN EQUAL OPPORTUNITY EMPLOYER
#J-18808-Ljbffr