Competitive Compensation Package
Remote/Hybrid
The President of Mortgage will be responsible for creating, building and managing a secondary mortgage business, including developing, implementing, and achieving the strategic and annual operating plans of the secondary mortgage business. This position will align the secondary mortgage business and must be able to communicate it internally and externally. This position will be responsible for the secondary home lending P&L for and will report directly to the President and CEO.
Job Duties:
- Create a secondary mortgage business that is aligned with home lending strategies that will originate on an annual basis no less than $500 million of secondary mortgage loans.
- Recruit, train, inspire and mentor organization, including direct and indirect reports.
- Evaluate and prioritize organization initiatives based on home lending market trends and business cases.
- Understand mortgage-specific risk and compliance as well as financial and reputational risks.
- Build and innovate mortgage products, including pricing, underwriting criteria, client journey, on ongoing basis.
- Manage significant development in operations/processing with focus on customer-facing perspective.
- Work cross functionally to build collaborative relationships.
- Develop policies, practices, and procedures that have a significant impact on the organization.
- Ensure that all mortgage activities are in compliance with bank policy, credit standards and applicable laws and regulations governing private and government – insured mortgages.
- Participate in community affairs.
- Collaborate with other members of the executive management team to align departmental strategy or direction with the overall goals of the organization.
- Develop policies, practices, and procedures that have a significant impact on the organization.
The successful candidate will have:
- Experience in setting ambitions and making decisions in ambiguous scenarios.
- A strong understanding of secondary mortgage market trends and products.
- A customer-centric mindset with strong understanding of end-to-end customer journey and experience.
- A bachelor’s degree in business administration, finance, or closely related field.
- 10+ years of progressively responsible experience in secondary mortgage leadership and originations is required.
- Proven, results oriented manager.
- Extensive knowledge of FHA, VA, USDA, FNMA, and FHLMC home loan products, policies, operating procedures and guidelines.
- Extensive knowledge of all applicable laws, rules and regulations, including, but not limited to, HMDA, Fair Lending, ECOA, TIL, and RESPA.
- Extensive experience with multiple investors who purchase secondary home loan products and any related servicing rights.
- Familiarity with the Community Development Financial Institution industry and U.S. Treasury’s Emergency Capital Investment Program.
- Excellent analytical and writing capabilities. Must be able to present ideas, concepts, and technical strategies on an individual and group basis.
- Affinity for the banks mission to reach and serve underserved communities and people.
Please answer the questions listed below and email them back to me with your updated resume to eral@minorityexecsearch.com Referrals are welcome!
1. Do you have 10+ years of progressively responsible experience in Secondary Mortgage Leadership and Originations? Explain
2. Do you have Extensive knowledge of FHA, VA, USDA, FNMA, and FHLMC home loan products, policies, operating procedures and guidelines? Explain
3. Are you Familiarity with the Community Development Financial Institution industry and U.S. Treasury’s Emergency Capital Investment Program?
4. Do you have Extensive knowledge of all applicable laws, rules and regulations, including, but not limited to HMDA, Fair Lending, ECOA, TIL, and RESPA?
5. Do you have Extensive experience with Multiple Investors who Purchase Secondary Home Loan Products? Explain
6. Have you been involved with Team Building? Explain
7. What is your P&L and Management Responsibilities?
8. Are you open to relocation?
9. What is your salary expectations?
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