Mortgage Portfolio Officer

POSITION SUMMARY:

Manages the functions necessary to place, maintain, securitize, and service residential real estate mortgages.

ACCOUNTABILITIES:

Administration:                                                           65%

• Affirms compliance to the ever-changing requirements for selling and servicing mortgages on the secondary market. Cooperates with purchasing agency in audits and examinations.
• Monitors mortgage payments by adjusting unapplied payments according to procedure and tracking prepaid loans.
• Authorizes payments to the purchasing agency by electronically transmitting funds along with supporting documentation.
• Oversees the administration and delivery of mortgage insurance documentation to MGIC for all Real Estate file reviews.  Continuously monitor exceptions and documentation needed and work closely with MGIC to achieve a high standard of quality files.
• Audits secondary market loans by reviewing audit trail and matching with supporting documentation. Maintains a record for branch regarding monthly billings for the "Seller Stmt" including delivery fees, extension fees, cash out refinance fees, and any fee associated with a loan that was sold.
• Completes operational requirements for sale or securitization of mortgages by keying the transaction into the core banking system to accurately reflect the status of the loan.
• Administers current pricing by monitoring loans in process for on time delivery, disseminates current rates and monitors and maintains records for interest rate locks. Provides tracking reports to management on a regular basis and communicates concerns in a timely fashion.
• Maintains sold loan documentation in a secure location.
• Accepts loan officer requests for appraisal orders for all residential real estate loans for assigned bank locations.  After selecting a board approved appraiser, prepares and delivers written request to the appraiser, monitors timeliness of receipt of appraisals ensuring prompt customer service for anticipated closing dates.  Records status of all appraisals in the tracking worksheet on the Intranet.
• Reviews appraisals for adherence to bank policies and USPAP guidelines.  Provides appraisal and written appraisal review report to the loan officer in a timely manner.  Reports any discrepancies or other appraisal issues to the VP Compliance Officer.  Completes in-house evaluations as needed.
• Supplies documentation to Freddie Mac and Federal Home Loan Bank for file review requests, appeals, and repurchases.
• Conducts the continuous quality control review of Secondary Market Loans, determining the adequacy of loan documentation; identifying potential problems; ensuring Freddie Mac and Federal Home Loan Bank requirements are being followed and preparing a written report for each credit reviewed.
• Conducts semi-annual reviews on USDA delinquent loans preparing a written quality control report.
• Completes daily reporting to Freddie Mac and monthly reporting to Federal Home Loan Bank and USDA on all loan payment activity, reporting current balance, principal and interest payments, and remitting payments due to Freddie Mac and Federal Home Loan Bank in a timely manner.  Reports to Freddie Mac, Federal Home Loan Bank and USDA on all delinquent loan activity on a monthly basis.  Verifying feedback reports, ensuring information is accurate and correct on both reporting systems.
• Manages the past due procedures for Home Loan Center ensuring Servicing Alignment Initiative is met.
• Maintains reports for Management on a monthly basis for Construction lien waiver/inspection reports and Secondary Market loan pipeline activity.
• Maintains current seller certifications on an annual basis for FHLMC, FHLB, Iowa Finance Authority, Idaho Housing & Finance Agency, US Bank, MN Housing Finance Agency and USDA.
• Administrator for Freddie Mac Access Manager, FHLB eMAQCS, Iowa Finance Authority, USDA, US Bank, MN Housing Finance Agency and The WorkNumber (Equifax) managing user access.

Training and Mentoring:                                             25%

• Supports the operating efficiency of the seller/servicer process by studying functions and requirements; conferring with managers and employees; identifying problems; developing improvements; communicating changes and training personnel.
• Trains employees as necessary regarding existing procedures/new opportunities available in the secondary market. Continues to review the programs offered by competing agencies and makes recommendations to upper management regarding new options.
• Provides leadership to department personnel ensuring that departmental and bank objectives are met through the apportioning of work, proper training, coaching.

Other:                                                              10%

• Maintains customer confidence and protects operations by keeping information confidential.
• Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; and participating in professional societies.
• Contributes to team effort by accomplishing related results as needed.
• Participates in civic and community activities to generate visibility and contact for the bank.
• Attends mandatory compliance and security sessions.  Monitors daily work for adherence to compliance and security regulations, policies/procedures, and promptly corrects any deficiencies.

ENVIRONMENTAL CONDITIONS:

• Work is performed primarily indoors in an office setting.
• Remote work may be available upon supervisor approval.

PHYSICAL AND MENTAL DEMANDS:

· Position accountabilities are typically performed while sitting for most of the day.  The physical and mental demands of this position are representative of those that must be met by an employee to successfully perform the essential position accountabilities.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential position and accountabilities.  First Citizens Bank reserves the right to review each requested accommodation and determine if it poses an undue hardship

KNOWLEDGE, SKILLS AND ABILITIES

• Associates degree in business/accounting or equivalent experience.
• Two years experience working with mortgage loan documentation.
• Skill in performing basic mathematical principles (such as addition, subtraction, multiplication, division, decimals) in account transactions.
• Knowledge of the layout and functions of the computer keyboard and ten key adding machine.
• Solid understanding of the mortgage loan process, its documentation, and associated regulations.
• Knowledge of and ability to cross-sell FCB products and services to customers-such as the ability to identify customers’ needs, communicate services, explain advantages, and close sales activity.
• Skill in working with the public, presenting a professional image of the bank, and servicing prospective and current customer inquiries, requests, and complaints.