Job Information
First Federal Mortgage Credit Manager in Port Angeles, Washington
Description
Who We Are
First Fed is a local community bank on an exciting growth trajectory with 18 locations including 12 full-service branches in Western Washington. First Fed was recognized by the Puget Sound Business Journal as a Best Workplace for the last 3 years and a Top Corporate Philanthropist in 2023. By popular vote, First Fed received 2023 awards for Best Bank in The Best of the Northwest, Best Banker in Readers’ Choice by Cascadia Daily News, and Peninsula Daily News named us Best Bank on the Olympic Peninsula. We also received a Best-In-State bank award from Forbes in 2021.
For over 100 years First Fed has served our customers and communities throughout the PNW. We’ve donated over $9 million to non-profit organizations in the past 8 years through our foundations, sponsorships, direct donations, and matched employee donations. Our amazing team has volunteered over 25,000 hours in the past 5 years – many by using our benefit of 3 paid volunteer days per year!
We welcome applicants from all backgrounds – our diversity makes us stronger. Join our award-winning team!
Our Values
Optimism: We are positive and decisive. We believe the future will be better than the past. Our attitude demonstrates persistence which leads to success.
Initiative: We are self-starters and find innovative solutions. We are courageous, entrepreneurial, and passionate. We take action for good.
Respect: We include individuals from diverse backgrounds and with different perspectives. We are committed to honoring and serving others.
Growth: We learn and adapt so we can continually improve. We believe in personal growth through grit and determination.
Ownership: We are invested in our endeavors. We are accountable and take responsibility for our actions and decisions.
Position Purpose:
Under the direction of the Chief Credit Officer, plan, develop, organize, and manage the Mortgage Credit Department operations and staff activities. Actively working to minimize credit risk while maximizing lending opportunities.
Essential Functions:
Manage portfolio and secondary market consumer underwriting functions, recommend changes to programs, and review policy exception requests.
Ensure that pipeline metrics and quality guidelines are met, and appropriate decisions are rendered by a team of Underwriters.
Maintain current knowledge of all secondary market guidelines to inform strategy and procedures for the successful sale of loans to a wide range of investors.
Maintain a system of credit analysis and quality control for all loans originated as required by loan policies.
Recommend changes to policies, procedures and objectives for areas of responsibility and continued safety and soundness of the bank.
Work in conjunction with the Mortgage Operations Manager and sales managers to meet department goals
Provide guidance and feedback to staff including performance evaluations. Recommend hire, separation and/or disciplinary actions, coordinating with immediate supervisor and Human Resources.
Collaborate with internal legal and compliance teams to assess risks and provide guidance in alignment with business goals and enterprise risk appetite.
Required Qualifications
Minimum of 7 years of mortgage underwriting experience including working with secondary market investor channels
Minimum of 2 years leading and/or managing underwriters
Desired Qualifications:
Bachelor’s degree in business administration, finance, accounting, or economics, or the equivalent.
Expert ability to identify and analyze risk and apply sound reasoning in complex scenarios.
Solid loan review, structuring and documentation knowledge across various business and collateral structures.
Extensive knowledge of laws and regulations related to mortgage lending including such as QM/ATR.
In depth understanding of Conventional, FHA, VA USDA, Bond and other investor guidelines.
Experience with Ellie Mae Encompass loan origination system functionality and reporting capabilities is strongly preferred.
Excellent ability to conduct thorough research, interpret guidelines and requirements, and provide workable recommendations and solutions to problems.
Ability to handle simultaneously, multiple tasks and changing priorities in an efficient and effective manner.
Physical Requirements:
The work requires the ability to operate office machines and equipment, such as personal computers, printers, copying machines and telephones. The work requires the ability to communicate clearly with customers, coworkers, and others in person and on telephones. Work activities involve combinations of sitting/standing for extended periods.
Pay Range
The pay range for this position is $79,228.86 - $134,689.07
The typical hiring range for this position is $79,228.86 – $90,915.12
The incentive plan for this position is the Officer Incentive plan. It is paid out quarterly with a 12.5% target payout.
Employees will be eligible for our benefits package including medical, dental, and vision insurance, paid time off, retirement plans (401k with company match and Employee Stock Ownership Plan), gym membership reimbursement, discounts on our banking products, and more! Additional information on our benefits package can be viewed at https://www.ourfirstfed.com/careers
Qualifications
Education
Preferred
- Bachelors or better in Business Administration
Experience
Required
- 7 years: Minimum of 7 years of mortgage underwriting experience including working with secondary market investor channels
Preferred
- 2 years: Minimum of 2 years leading and/or managing underwriters
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)
