Department: Mortgage Lending
Location: Kaimuki Business Plaza
Job Summary: Responsible for planning, organizing, and directing the activities of the Mortgage Loan Department. Recommends, develops, and implements mortgage lending policies, procedures, and products to ensure that the credit union operates in accordance with applicable laws and regulations and its members are being properly served. Exercise prudent judgment and decision making in underwriting and analysis of member credit worthiness. Ensure quality of loans placed into residential loan portfolio, brokered out to lenders, and sold in secondary market. Coordinates and oversees lending and promotional activities, ensuring that all applicable areas of responsibility support strategic objectives and goals. Supports and evaluates performance of assigned personnel.
Minimum Qualifications: Bachelor’s degree (BA/BS) from an accredited four-year college or university; or five (5) years related work experience in a financial institution or with a mortgage company; or equivalent combination of education and experience to effectively perform job responsibilities. In-depth knowledge of conventional mortgage loan products – first and second lien mortgages, fixed rate, ARMs, hybrids, balloons, construction-permanent financing, etc., secondary market guidelines, wholesale, retail, & correspondent lending. Detailed understanding of residential mortgage sales/solicitation, underwriting (analysis of income, assets, & liabilities), processing, closing, regulatory disclosures, and other pertinent documentation. Proficient understanding of residential mortgage industry (origination and servicing), risk-based pricing models, credit scoring models, automated underwriting systems, collateral valuation methods, pricing strategies and matrices, and credit risk analysis. Experienced with most popular LOS (loan origination systems) and able to process, underwrite, and close a residential mortgage loan. Knowledgeable of all residential lending regulations such as: TRID, Truth-in-Lending Act (Regulation Z), RESPA (Regulation X), HMDA (Regulation C), ECOA (Regulation B), SAFE Act, Flood Disaster Protection Act, Homeowners Protection Act, Dodd-Frank Act, and Mortgage Servicing rules.
Credit must be in good standing. Must be bondable pursuant to §713.3(b) of the NCUA’s Rules and Regulations.