The Assistant Mortgage Closing Manager assists the Mortgage Closing & Servicing Manager in the overall management of the Mortgage loan closing activities. This includes but is not limited to coaching and developing staff, performance management, and assists the Mortgage Closing & Servicing Manager in the planning and execution of the strategic direction of the area. This role is responsible for l supporting UW Credit Union mortgage loan closing initiatives. The Assistant Mortgage Closing Manager is a management development position. They assume responsibility of the operation of the department in the Manager’s absence.
This role is responsible for effective leadership and sound practices guided by the UWCU Performance Management Philosophy.
This position must effectively carry out the essential duties of this position in a manner that consistently demonstrates the core values of the organization in a positive manner.
1) Assist in the Management of Daily Operations - 40%
a. Develop and maintain proper documentation of job duties and procedures by ensuring resources are up to date.
b. Track and monitor relevant metrics utilizing the department scorecard and provide staff feedback on these metrics.
c. Create and monitor monthly reports to be presented to management.
d. Work with team and manager to create departmental bulletins as needed.
e. Assist in the management and coordination of the operations of the Credit Union’s mortgage closing activities in accordance with established policies and procedures.
f. Initiate and support the operational implementation of new products, systems, and procedures that support mortgage sales and service activities.
g. Develop, implement and evaluate policies, systems, processes and procedures to make daily operations more efficient.
h. Responsible for training new staff and ensuring cross training and backup coverage for core Closing processes.
i. Perform core Closing processes based on volume and staffing needs within the department.
j. Resolve escalated and/or complex member issues through direct personal action or referral to the proper department.
k. Responsible for additional duties and/or responsibilities as assigned by manager.
2) Leadership Expectations - 20%
a. Work closely with HROD and senior management to select and retain highly engaged employees.
b. Interpret and communicate overall organizational purpose, critical measures, strategies and progress as it relates to the department and individual team member goals and success. Cascade information. Provide open and transparent communication with team members and departments across the organization.
c. Responsible for developing a staff of highly engaged employees as measured by the employee engagement survey.
d. Provide broad based recognition by recognizing positive behaviors, achievements, and results exhibited by team members and all staff at all levels across the organization in a consistent and professional manner.
e. Review and communicate performance standards and expectations of team members as often as necessary to ensure accountability and effective execution.
f. Actively role model behaviors necessary to achieve goals.
g. Possess a commitment to the excellence of others through actions that support the growth and development that optimizes the talent of individual team members.
h. Provide timely, ongoing and consistent direction, performance coaching and honest feedback through dialogs, phone-call review sessions, mid-year snapshots, year-end appraisals and informal in-the-moment coaching.
i. Maintain accurate, timely and transparent information regarding employee performance. Examples include; department scorecards, attendance (updating time and attendance information as required), dialogs performance journals, and documented disciplinary actions and action plans as necessary.
k. Utilize progressive discipline practices to address sub-standard performance in a timely manner. Carry out progressive discipline and documentation with dignity and respect.
l. Invite and accept feedback from others and provide upward feedback.
m. Responsible for own continual individual development and improvement of UW Credit Union’s Leadership Success Criteria.
3) Mortgage Closing Responsibilities - 20%
a. Responsible to efficiently manage departments closing pipeline.
b. Ensure delivery of all required closing documents in a timely manner to member and title provider by or before established service level timelines.
c. Work closely with Mortgage Loan Officers to ensure quality service and follow up with closing company or other inquiries.
d. Monitor and prepare wire transfers for delivery to title company within established timeframes.
e. Review title commitments for liens to ensure UW Credit Union secures the first lien position and ensure outstanding judgment, liens, or special assessments are clear of title.
f. Prepare UW Credit Union to UW Credit Union subordination agreements.
g. Perform Escrow holdback account tracking and follow-up.
h. Re-submit loans to Underwriting for loan amount changes when applicable.
i. Responsible for accurate data entry and consistent data integrity of staff.
j. Maintain knowledge of mortgage programs offered by UW Credit Union
k. Keep current on policies, investor guidelines, and state and federal guidelines to ensure salability of loans onto secondary markets and compliance i.e. TRID, RESPA, etc.
l. Take ownership for change by analyzing, justifying and recommending changes in process to enhance productivity of staff, create efficiencies, and improve service levels.
4) Support Closing Processes and Compliance - 20%
a. Receive, organize, evaluate and prioritize enhancement requests from business units, making technical changes if within scope of abilities, or filing change requests with vendors, and/or internal “request for service”, as appropriate.
b. Assist as necessary in regulatory examinations as well as independent audit/compliance assessments.
c. Assess current department processes and procedures to ensure compliance with federal and state regulations, internal policies and procedures.
d. Ensure Closers are focused on maintaining loan quality on all mortgage loans. Implement the necessary interventions to ensure consistent loan excellence.
e. Work collaboratively with fellow Mortgage Lending staff resolving error resolutions
f. Perform user testing on Loan Origination System
g. Actively participate in meeting and lead trainings
h. Responsible for own personal development through trainings offered by Credit Union
i. Maintain Mortgage Closing Wiki as processes are modified or added.
j. Maintain procedures and make necessary modifications when applicable to ensure up to date processes.
To perform this job successfully, an individual must demonstrate regular, predictable attendance and be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. The individual must be able to successfully pass background checks.
Must complete annual training and compliance in accordance with all UW Credit Union Fair Lending Policies and Guidelines including, but not limited to, the Equal Credit Opportunity Act, The Fair Housing Act, and the Home Mortgage Disclosure Act.
-Associates Degree in business or related field required
-Two to three years experience; Mortgage Closing or Management
-Experience working with loan origination and core systems required
-Knowledge of Secondary Market underwriting guidelines
-Knowledge of guidelines and regulations, i.e. Investors, TRID, RESPA,, etc
-Knowledge of the principles and practices of effective real estate lending and closing requirements
-Excellent analytical skills
-Strong attention to detail
-Must be able to work independently, organize and prioritize work.
-Have the aptitude to work under and meet deadlines
-Demonstrated ability to work with multiple priorities
-Maintain personal composure in high stress situations
-Efficient time management skills
-Adequate customer service skills
-Ability to use financial calculators
-Demonstrated ability to work as a team and fill in for or back up fellow teammates as needed
-Excellent verbal, written communication and presentation skills.
-Ability to use a personal computer and related software including, Word, Excel and Microsoft Outlook
-Ability to maintain expert-level proficiency with loan origination and core systems.
-Must be comfortable working in a fast-paced, team orientated environment