Sr. Residential Loan Officer
Title: Vice President, Residential Lending
Department: Residential Lending
Reports to: CEO
Supervises: Residential/Consumer Lending Staff & Loan Servicing Staff
Summary / Objective
The Vice President, Residential Lending is responsible for managing a staff to originate, process and underwrite residential mortgage loans and consumer loans while promoting the financial institution and its lending services to the real estate community. This position helps to identify and serve the community’s financial needs through home loan education, real estate agent communication, sales meetings, and by participating in and promoting the financial institution’s community activities. In addition to conducting interviews with prospective borrowers, advising customers of product/pricing policies and guidelines, this position requires a strong knowledge of compliance, HMDA/CRA guidelines as well as secondary market loan sales.
Experience & Education Requirements:
- Bachelor’s degree in business or equivalent lending experience
- Background in financial institution’s residential lending procedures
- Extensive knowledge of residential & consumer lending procedures, laws and regulations
- Strong sales, organizational and supervisory skills
- Five to ten years of experience working in a residential lending of a community and/or other bank
- NMLS licensing is required
Essential Job Functions:
- Reviews and analyzes residential real estate loans and consumer loans requests
- Ensures exceptional customer service by maintaining through knowledge of lending programs, policies, procedures and regulatory requirements, demonstrating a commitment to professional ethics
- Oversees all loan servicing activities & mortgage & consumer loan origination and provides on-going communication to customers and business partners
- Develops and recommends new loan policies to upgrade and improve the loan services for the benefit of the customer and the organization
- Researches new legislation and regulations that may affect the financial institution’s residential and consumer lending policies.
- Ensures compliance with all state and federal compliance policies, advises senior management and implements appropriate changes
- Participates in the development of financial institution residential and consumer lending marketing programs
- Actively participates in local business and community activities and prospects new mortgage lending opportunities
- Provides regular reports to the President on the institution’s residential and consumer lending services
- Manages, reviews and implements the financial institution’s residential secondary marketing function
- Ensures compliance with state, federal and secondary market requirements and regulations as pertains to loans
- Reviews personnel activities on a regular basis, suggesting training for employees for further development and for the improvement of the department’s performance.
- Maintains knowledge of department policies and procedures through internal and external training activities
Required knowledge, skills & abilities:
- Superior knowledge of residential lending activities and thorough understanding of residential and consumer lending compliance procedures, laws and regulations
- Proficiency with loan origination software, Automated Underwriting Systems, Microsoft Word and Excel programs
- Excellent communication skills to establish relationships with the communities and effectively convey the message to staff and management
- Excellent customer service and relationship building skills
- Strong computer skills
- Able to work in a fast paced, changing environment and prioritize work assignments effectively
- Ability to follow and learn new policies regarding the lending process
- Ability to be self-motivated and analyze situations
- Compliance with BSA regulations as appropriate to the position
Physical Demands and Work Environment:
- Ability to use standard equipment such as computers, phones, photocopier
- Must be able to work schedules that meet the needs of the Bank, which may include early morning, evening and /or weekend hours
- Requires manual dexterity and sitting for longer periods of time
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. It is expected that from time to time other duties, both related and unrelated to the above, may be assigned and therefore, required.
MutualOne Bank offers a competitive salary and an excellent benefits package which includes, medical and dental insurance, 401(k) plan with Bank match, defined benefit pension plan, paid vacation, paid holidays, group term life insurance, long term disability & short term disability insurance, flexible spending accounts, tuition reimbursement and an Employee Assistance Program.
MutualOne Bank provides equal employment opportunities to all employees in regards to race, color, religion, gender, sexual orientation, gender identity or expression, national origin, age, disability, genetics or status as a protected veteran.
This position is located at 49 Main Street, Natick, MA. View the Google Map in full screen.