Jumbo File Review Manager

Job Type

Full-time

Description

A successful Jumbo File Review Manager will be the primary point of contact for our Jumbo Correspondent Clients. You will direct all related Jumbo Correspondent Lending activities, managing file review for consistency to guidelines, receipt of documents for underwriter review, and manage Client relationships by interacting between the Client and our internal and external partners. With an emphasis on Jumbo and Non-Agency lending, the candidate will be responsible for the operational functions of Client satisfaction; managing at a high-performance that will produce best-in-class outcomes that limit compliance, credit, and operational risk and positively influence customer experiences.

After one year as our Jumbo File Review Manager, you will know you were successful if you...

• Purchase quality loans from Jumbo Correspondent Clients efficiently to ensure high satisfaction and return business.
• Directly manage day-to-day loan activity with Clients and internal partners.
• Review conditions for accuracy and clarity, working with Clients daily to improve file flow and clarify the need for escalation items to resolve quickly with the management team.
• Manage email inboxes for detailed and timely responses to Clients and other internal/external partners
• Directly accountable for the overall performance of the Jumbo operations function, relevant compliance and credit measures, and related outcomes.
• Implement and oversee quality control measures to ensure adherence to established quality control processes across the Jumbo operations functions.
• Perform routine quality checks on work performed to ensure ongoing quality expectations are met or exceeded.
• Monitor and manage the timeliness and quality of pipelines and provide routine status reports to management team members as requested.
• Establish a process for excellence in required metrics.
• Maintain systems and files in an audit-ready manner to ensure ongoing compliance.
• Respond to internal and third-party audits in coordination with other mortgage staff.
• Work with Clients and other team members on compliance and credit issues and ensure department compliance and credit requirements are consistently and satisfactorily met. (especially Regulation B, C (HMDA) and other applicable laws and regulations).
• Provide exceptional customer service to both internal and external customers.
• Manage vendor relationships and report any issues through appropriate ticketing systems, IT, or management.
• Monitor, manage and communicate with TPR firm(s) to ensure timely and accurate review of loans and condition clearing.
• Conduct onboarding calls for new Jumbo Correspondent Clients to train them on systems, processes, and procedures.
• Keep up to date of underwriting and compliance guidelines and communicate as needed.
• Use Daily Reports to track the progress of loans and monitor turn times to ensure loans have not exceeded the turn times according to the Service Level Agreement

Requirements

What we are looking for...

• Requires 6-8 years of experience in mortgage banking with a demonstrably thorough understanding of single-family mortgage disclosures, processing, and closing in both TPO and Retail Channels
• Requires advanced experience using, manipulating, ad managing loan operations systems.
• Requires previous experience successfully managing high-level clients and production.
• Prefers a bachelor's degree from an accredited institution or some college with a greater length of similar work and management experience.
• Requires exemplary working knowledge of agency and regulatory guidelines applicable to assigned mortgage lending responsibilities.
• Must demonstrate ability to identify, interpret and apply applicable underwriting guidelines in implementing and managing Jumbo operations and processing procedures.
• Must be able to equitably work through difficult loan structure problems and address them with management to find a positive customer solution.
• Require proficiency in using basic computer software such as Microsoft Office, Encompass, and Blue Sage. Ability to troubleshoot issues and work with IT or Admin Team to resolve, test and ensure expected outcomes.
• May require compliance with SAFE Act guidelines

ABOUT MERCHANTS

Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple lines of business, including Federal Housing Administration ("FHA") multi-family housing and healthcare facility financing and servicing; mortgage warehouse financing; retail and correspondent residential mortgage banking; agricultural lending; and traditional community banking. Merchants Bancorp, with $17 billion in assets and $14.1 billion in deposits as of December 31, 2023, conducts its business primarily through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Merchants Capital Servicing, LLC, and Merchants Mortgage, a division of Merchants Bank of Indiana.

We are very proud of being recognized both nationally as one of the top-performing public banks in the US. By S&P Global Market Intelligence and locally as a Best Place to work in Indiana for seven consecutive years. Learn more about this read more here.