Tennessee Housing Development Agency
Mortgage Loan Closing & Shipping Manager
Tennessee Housing Development Agency
MORTGAGE LOAN CLOSING & SHIPPING MANAGER
APPLICATION DEADLINE IS THURSDAY, JULY 15, 2021 AT 11:59PM
Division: Single Family Loan Operations
Reports to: Director of Single Family Loan Operations
Location: Nashville, TN
Salary Grade: 36
Monthly Salary Range Minimum: $4,510
FLSA Classification: Exempt (03)
Critical features of this job are described under the headings below. They may be subject to change due to changes in our business processes or other business-related reasons.
POSITION SUMMARY: Supervises the organization’s closed mortgage loans, which includes shipping to document custodian, maintains and controls follow-up in a timely manner, and handles necessary correspondence to carry out such maintenance; supervises Closing staff.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Essential duties and responsibilities include the following. Other duties may be assigned.
- Directly supervises staff; interviews, hires, and trains employees; makes assignments and monitors work; develops employee skills and encourages growth and development; reviews and evaluates employee performance; addresses workplace issues and provides guidance, coaching, and disciplinary measures for staff; addresses personnel issues in conjunction with appropriate leadership and the Human Resources division.
- Audits closed mortgage loan files to ensure staff’s understanding, accuracy and accountability of procedures and guidelines.
- Trains Loan Operations staff on agency and investor/insurer procedures, guidelines and compliance needs.
- Manages shipping staff to ensure timely notes are delivered to document custodian.
- Maintains post closing and shipping procedures; updating when necessary.
- Maintains high level of written and oral communication with Originating Agents (OAs) to ensure accurate and timely receipt of final documentation.
- Manages and evaluates pipeline timeline of closed loans, reports issues and seeks guidance from Director as needed.
- Reviews results of Days Old and Critical Loan Reports with closing staff, and takes action as needed.
- Works with Capital Markets for timely delivery of mortgage back securities (MBS) for Freddie Mac and Ginnie Mae loans.
- Works with Servicing Division for payoffs for repurchase demands.
- Reviews results of unpaid Service Release Premium (SRP) report with closing staff, and takes action as needed.
- Provides guidance for the prompt correction of closing documents to adhere to agency and investor/insurer guidelines.
- Reports progress and problems to Director of Single Family Loan Operations.
- Answers day-to-day questions pertaining to closed loan documents to include how to correct documents.
- Maintains effective working relationships with document custodian, private mortgage insurance companies, title companies and the Department of Revenue for de-titling of manufactured homes.
- Works with Servicing Division to ensure both first and second mortgages are registered and transferred to THDA in the Mortgage Electronic Registrations Systems (MERS).
- Works with the Chief Financial Officer on quarterly SEC report concerning mortgage loan repurchases.
- Acts as the Mortgage Funding Manager’s backup for preparing purchase reports and distributing to Volunteer Mortgage Loan Services (VMLS) and Finance Divisions.
- Recommends development of policies and procedures to enhance the effectiveness and efficiency of the closing and shipping functions.
- Offers support to other areas in the division as necessary or as time allows.
The requirements listed below are representative of the knowledge, skills, and/or abilities required.
Education and Experience:
- High school diploma or equivalent GED; Associate degree or higher preferred.
- Recent one year of expertise directly related to assigned responsibilities.
- Five years of experience in the mortgage lending field, with at least four years of recent closing/post-closing experience, preferred.
- One year of management/team lead experience.
The above qualifications express the minimum standards of education and/or experience for this position. Other combinations of education and experience, if evaluated as equivalent, may be taken into consideration.
Knowledge, Skills, Abilities, and Competencies:
- Ability to effectively manage staff; ability to plan, schedule, and evaluate the work of others.
- Working knowledge of Federal Housing Administration (FHA), Veterans Administration (VA), United States Department of Agriculture/Rural Housing Service (USDA/RHS), Federal National Mortgage Association (FNMA), and Private Mortgage Insurance (PMI) requirements.
- Basic mortgage loan processing skills with knowledge of mortgage loan underwriting guidelines.
- Advanced mortgage loan closing knowledge to include Consumer Finance Protection Bureau (CFPB) guidelines.
- Working knowledge of Ginnie Net
- Ability to work well with associates and the public.
- Strong interpersonal skills.
- Excellent verbal and written communication skills.
- Builds and maintains positive relationships with internal and external constituents.
- Strong organizational skills.
- Strong time management skills; uses time effectively; consistently meets deadlines.
- Documents regularly, thoroughly, accurately, and completely.
- High level of detail and accuracy.
- Computer literate; proficient in Microsoft Word, Excel, Outlook, and the internet; able to effectively adapt to and use other computer systems as needed for daily activities.
The special demands described here are representative of those that must be met by a staff member to successfully perform the essential functions of this job.
- While performing the duties of this job, the employee is regularly required to sit; stand; use hands to finger, handle or feel; and talk and hear.
- The employee is occasionally required to walk; reach with hands and arms, and stoop, kneel, or crouch.
- Specific vision abilities required by this job include close vision, distance vision, and the ability to adjust focus.
State of Tennessee positions that may involve driving responsibilities require candidates to meet the following minimum driver qualifications:
- A valid driver’s license
- For the past five years, the candidate’s driving record must not have record of the following violations: driving under the influence (DUI), reckless driving, license suspension for moving violations, more than 4 moving violations,
BENEFITS: THDA offers an excellent benefits package: medical, dental, vision, and life insurance options; disability insurance; retirement plans; flexible benefit pre-tax accounts for medical, dependent care, transportation, and parking; annual leave and sick leave that begin accruing after the first month of employment; and 11 paid holidays per year. We also offer work-life balance opportunities through alternative work schedules, flexible schedules, and telecommuting.
How to Apply
EQUAL OPPORTUNITY/EQUAL ACCESS/AFFIRMATIVE ACTION EMPLOYER
APPLICATION MUST BE COMPLETE AND RESUME ATTACHED FOR CONSIDERATION
PLEASE VISIT OUR WEBSITE AT WWW.THDA.ORG AND FOLLOW THE ONLINE APPLICATION INSTRUCTIONS
- Date Posted: July 2, 2021
- Type: Full-Time
- Job Function: Other
- Service Area: Government
- Salary Range: $4,510 per month