What are the responsibilities and job description for the VP, Residential Mortgage Manager position at CBI Bank & Trust?
Description
The Residential Mortgage Manager is responsible for overseeing the residential mortgage lending division, ensuring the successful origination, underwriting, and closing of Fannie Mae, Freddie Mac, and portfolio loans. This role includes managing a team of loan officers, ensuring compliance with regulatory guidelines, and developing strategies to meet the Banks’ Community Reinvestment Act (CRA) requirements. The manager will work closely with senior leadership to drive loan production while maintaining the highest standards of customer service, credit quality, and regulatory compliance.
Key Responsibilities
Strategic Leadership & Business Development:
We care about our employees' well-being and offer a comprehensive benefits package, including medical, dental, and vision insurance, a 401(k) retirement plan, and generous paid time off. We also provide employer-paid life insurance, as well as short-term and long-term disability coverage, ensuring peace of mind for you and your family.
The Residential Mortgage Manager is responsible for overseeing the residential mortgage lending division, ensuring the successful origination, underwriting, and closing of Fannie Mae, Freddie Mac, and portfolio loans. This role includes managing a team of loan officers, ensuring compliance with regulatory guidelines, and developing strategies to meet the Banks’ Community Reinvestment Act (CRA) requirements. The manager will work closely with senior leadership to drive loan production while maintaining the highest standards of customer service, credit quality, and regulatory compliance.
Key Responsibilities
Strategic Leadership & Business Development:
- Develop and execute mortgage lending strategies to achieve production goals while maintaining credit quality and compliance.
- Oversee the origination of conforming (Fannie Mae and Freddie Mac) and portfolio loans, ensuring profitability and risk management.
- Establish partnerships with real estate professionals, builders, and community organizations to drive loan volume.
- Selecting and managing the technology associated with underwriting, processing and originating of mortgage loans.
- Ensure alignment of mortgage products and services with the banks’ CRA objectives, identifying opportunities to lend in underserved communities.
- Lead, mentor, and manage a team of loan officers and mortgage support staff to drive loan origination and ensure excellent customer service.
- Drive performance to meet or exceed profit targets and make appropriate pricing changes or enhancements to maximize profit opportunities.
- Monitor team performance and provide training, coaching, and guidance to enhance productivity and compliance.
- Recruiting and hiring of loan originators and processing staff across the bank’s footprint.
- Oversight of the margin and fee strategies on loans originated.
- Ensure adherence to bank policies, regulatory requirements, and secondary market guidelines.
- Some travel may be necessary to support loan originations and initiatives within the bank’s footprint.
- Ensure mortgage operations comply with all federal, state, and investor regulations, including Fannie Mae, Freddie Mac, HMDA, and Fair Lending laws.
- Work closely with compliance and risk management teams to implement policies and procedures that maintain loan quality and regulatory adherence.
- Oversee CRA mortgage lending initiatives, ensuring the bank meets its obligations under the Community Reinvestment Act by originating loans in low-to-moderate income (LMI) areas.
- Collaborate with underwriting, processing, and closing teams to streamline operations and improve the borrower(s) experience.
- Monitor market trends, interest rates, and regulatory changes, adapting strategies accordingly.
- Manage relationships with secondary market investors, ensuring successful loan sales and portfolio management.
- Bachelor’s degree in finance, business administration, or a related field (MBA preferred).
- Minimum of 5-7 years of experience in residential mortgage lending, with a strong background in Fannie Mae, Freddie Mac, and portfolio loan products.
- Proven leadership experience managing a team of mortgage professionals.
- Deep understanding of mortgage regulatory requirements, including CRA, Fair Lending, and HMDA.
- Strong business development and relationship-building skills.
- Excellent analytical, problem-solving, and communication skills.
- Experience working in a commercial bank environment with a strong community focus preferred.
- Knowledge of affordable housing programs, down payment assistance, and first-time homebuyer initiatives preferred.
- Proficiency in loan origination systems (LOS) and CRM platforms preferred.
We care about our employees' well-being and offer a comprehensive benefits package, including medical, dental, and vision insurance, a 401(k) retirement plan, and generous paid time off. We also provide employer-paid life insurance, as well as short-term and long-term disability coverage, ensuring peace of mind for you and your family.
