Equity Production Supervisor

Overview

To provide processing oversight, perform quality reviews and coordinate processing of equity loans. To conduct and coordinate training for the Section Staff. To assist in supervising section activities.

Responsibilities

• Ensures borrowers' financial qualifications meet established guidelines and loan request conforms to loan program requirements and supporting documents meet conditional requirements.
  • Reviews initial loan processing documents assigned to Equity Processors and Equity Closers (EPCs) to ensure compliance with federal and state regulatory disclosure requirements
  • Reviews accuracy of estimated closing costs and loan pricing, authorizes release of this information to members, provide assistance and direction on the processing of complex or unique loans
  • Reviews loan submission files prepared by trainee level EPCs for accuracy and completeness
  • Approves release of loan submissions to Underwriting
• Ensures compliance documentation and disclosure requirements comply with federal, state, and local laws; regulations; NCUA requirements; FHLB; Credit Committee; and internal procedures
  • Reviews file to ensure the accuracy of the loan pricing; research errors to determine cause (e.g., typographical, incorrect fees quoted) and resolves or recommends solutions
  • Reviews title binder to ensure clear and marketable title with proper lien position as necessary
  • Reviews trusts to ensure compliance with NFCU guidelines
  • Identifies and resolves any title problems (e.g., chain of title, vesting, release/subordination of undisclosed liens/judgments filed against property, title exceptions) with members, closing attorney/agent, Realtor, or other related party
  • Authorizes the release of the reviewed/approved package to members, notary publics, and closing attorney
  • Provides assistance and direction on the processing of complex or unique loans; resolves member escalated issues
• Conducts ongoing quality reviews and training for EPCs.
  • Coaches, evaluates, and provides corrective guidance and/or additional, specialized training
  • Works with Mortgage Trainers to receive and distribute information regarding loan program changes, automated system changes, underwriting requirements, and documentation requirements
  • Remains current via emails, E-Grams, memos, and reference materials of changes affecting Navy Federal guidelines and federal, state, and local regulations and educates staff on changes
  • Analyzes changes in policies, procedures, and products and determines the impact on the functions of the section(s)
  • Monitors the loans of employees on leave and conducts desk audits of equity loans in process
  • Provides feedback, makes recommendations, and implements approved changes
• Provides assistance to section management.
  • Provides input on employee appraisals and makes recommendations to improve processes and procedures
  • Monitors daily and monthly production reports (e.g., number of loans received, number of loans processed, aged loans, processing times)
  • Researches and compiles data and reports results to Supervisor or Manager
  • Participates on project teams, compliance audits, and Operational Risk reviews by representing the branch as Subject Matter Expert(s), often acting as the primary point of contact for the branch
  • Monitors and analyzes the activities of service vendors including title companies and signing service providers, reports issues, and recommends changes
  • Monitors the work of trainee level EPCs for accuracy, completeness, and timeliness
  • Monitors EPCs' volume of work and adjusts assignments to meet the fluctuations of workload
  • Completes the work of absentee EPCs
  • Acts as Supervisor(s) in the absence of incumbent(s), including completing timesheet approvals and managing leave schedules
• Performs other duties as assigned or appropriate.

Qualifications

• Experience that demonstrates extensive knowledge of the equity lending that includes processing equity both fixed and variable rate equity loans from the initial loan application through the loan closing process
• Thorough knowledge of Equal Credit Opportunity, Truth-in-Lending, Fair Credit Reporting, Real Estate Settlement Procedures, and Fair Housing Acts and state regulations
• Demonstrated ability to supervise and lead others
• Ability to exercise initiative, make sound judgments, meet deadlines, and maintain poise in a variety of situations
• Ability to interpret and apply regulations, instructions, and procedures
• Demonstrated dependability, productivity, and accuracy
• Demonstrated knowledge of PCs and spreadsheet, database, and word processing software
• If selected, will be required, prior to the assumption of employment duties, to register with the Nationwide Mortgage Licensing System and Registry; includes fingerprinting and background checks
• Strong verbal, written, and interpersonal communication skills
• Strong problem solving, planning, and organizational skills

Desired Qualifications

• Knowledge of related Navy Federal policies, procedures, products, and services

Additional Information

Hours:

• Monday - Friday, 8:00AM - 4:30PM

Location:

• 141 Security Drive, Winchester, VA 22602

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