VP Credit Policy

Pennymac (NYSE: PFSI) is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. 

At Pennymac, our people are the foundation of our success and at the heart of our dynamic work culture. Together, we work towards a unified goal of helping millions of Americans achieve aspirations of homeownership through the complete mortgage journey.

The Vice President Credit Policy is responsible for oversight and daily management of the Credit Risk Management - Originations change management program. As the VP Credit Policy, you will be responsible for monitoring investor changes, interacting with all divisions, and ensuring Pennymac’s program guidelines, underwriting guidelines, and policies & procedures are kept up to date and are in compliance with Agency/investor requirements.

The VP Credit Policy will:

• Oversee the Credit Risk Originations Change Management process
• Monitor Agency and investor publications for changes to guidelines/requirements and determine impact to Pennymac
• Gather, investigate, and review additional information and conduct research as necessary, to ensure compliance with agency requirements
• Regularly consult with the impacted division(s) on changes to company guidelines in response to Agency changes
• Manage product guidelines and Pennymac Underwriting Manual updates, internal and external announcements, and other artifacts related to internal or investor changes. Coordinate the distribution and publication (internal and external) of applicable changes
• Update Pennymac Credit Risk Management policies and procedures as appropriate
• Review business unit policies and procedures and provide suggested edits, as needed
• Perform other related duties as required and assigned
• Demonstrate behaviors which are aligned with the organization’s desired culture and values

• Excellent working knowledge of GSE, FHA, VA, and USDA guidelines and how to apply in a credit risk environment (strong FHA and VA background desired)
• Previous credit policy and change management experience desired
• Excellent working knowledge of DU, LPA, and TOTAL
• Minimum five years mortgage underwriting experience (GSE and Government programs)
• Good understanding of Correspondent, Wholesale, and Retail lending
• Ability to manage multiple projects and interact successfully within various departments
• Must be highly proficient in Microsoft Office and/or Google Applications
• Excellent written and verbal communication skills required
• Excellent organizational skills required. Previous project management experience a plus
• Technical writing experience a plus
• Bachelor’s degree or equivalent mortgage industry experience

As one of the top mortgage lenders in the country, Pennymac has helped over 4 million lifetime homeowners achieve and sustain their aspirations of home. Our vision is to be the most trusted partner for home. Together, 4,000 Pennymac team members across the country are guided by our core values: to be Accountable, Reliable and Ethical in all that we do. 

Pennymac is committed to conducting a business that makes positive contributions and promotes long-term sustainable growth and to fostering an equitable and inclusive environment, where all employees and customers feel valued, respected and supported. 

Benefits That Bring It Home: Whether you're looking for flexible benefits for today, setting up short-term goals for tomorrow, or planning for long-term success and retirement, Pennymac's benefits have you covered. Some key benefits include: 

• Comprehensive Medical, Dental, and Vision
• Paid Time Off Programs including vacation, holidays, illness, and parental leave 
• Wellness Programs, Employee Recognition Programs, and onsite gyms and cafe style dining (select locations)
• Retirement benefits, life insurance, 401k match, and tuition reimbursement 
• Philanthropy Programs including matching gifts, volunteer grants, charitable grants and corporate sponsorships

To learn more about our benefits visit: https://pennymacnews.page.link/benefits

Compensation: Individual salary may vary based on multiple factors including specific role, geographic location / market data, and skills and experience as defined below:

• Lower in range - Building skills and experience in the role
• Mid-range - Experience and skills align with proficiency in the role 
• Higher in range - Experience and skills add value above typical requirements of the role 

Some roles may be eligible for performance-based compensation and/or stock-based incentives awarded to employees based on company and individual performance. 

Salary : $95,000 - $155,000