Manager, Credit Policy and Portfolio

job
  • Fay Financial
Job Summary
Location
Chicago ,IL 60290
Job Type
Contract
Visa
Any Valid Visa
Salary
PayRate
Qualification
BCA
Experience
2Years - 10Years
Posted
09 Jan 2025
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Job Description

Founded in early 2008, Fay Servicing is committed to providing innovative servicing solutions for both performing and non-performing mortgage loans. As a specialty mortgage servicer who sees the customer behind every loan, we understand that our customers aren't loan numbers - they're homeowners.
Before founding our company, we conducted an exhaustive analysis of the mortgage servicing industry and gained valuable insight into the problems facing mortgage servicers and their customers. With that insight, we set out to build a different kind of servicing company from the ground up.
Come join us on our journey to serve our customers and be the leader in our industry! We are currently looking for a Manager, Credit Policy and Portfolio join our team!
Reporting to the Chief Credit Officer, this position manages the development, implementation, and maintenance of credit policies, ensuring alignment with business objectives, regulatory requirements, and risk management practices. The role is responsible for overseeing credit policy and procedures and will assist with managing the credit risk associated with the mortgage lending process, including underwriting, risk analysis,s and credit policy development in compliance with industry regulations and internal standards. This position analyzes trends, evaluates credit risks, and identifies opportunities to refine underwriting standards.
The role oversees credit portfolio performance and collaborates with cross-functional teams to drive portfolio optimization and maintain credit quality. This position partners with Underwriting and senior management to set lending guidelines and drive initiatives to improve the quality of mortgage credit decisions while mitigating risk. Additionally, this position will manage and guide a team of credit support professionals to assist in the administration and execution of credit policies, portfolio management initiatives, and department objectives.
What you will do for Constructive Loans:

  • Build and lead a high-performing team of professionals through policies, procedures and programs aligned with company goals. Manage performance, foster development and providing mentoring to employees
  • Lead and/or participate in team or company projects and initiatives to include enhancing portfolio and bank statement program DSCR offerings
  • Assist with overseeing the mortgage credit underwriting process to ensure sound credit decisions are made based on established guidelines, policies, and risk tolerance
  • Analyze credit risk associated with loan applications, borrower creditworthiness, collateral, and other key factors
  • Partner with senior leadership to develop and update credit policies and guidelines to reflect current market conditions, regulatory change,s and business needs
  • Ensure adherence to internal policies and all regulatory requirements, including compliance with federal, state, and investor regulations
  • Stay informed on industry trends, regulation,s and changes in the mortgage credit landscape
  • Prepare and present reports on the performance of the mortgage portfolio, identifying trends, risks, and opportunities for improvement
  • Review and advise on TPR reporting and trending to determine credit risk factors
  • Collaborate with underwriting, loan production, operations, and cross-functional departments to ensure seamless processes and alignment with business goals
  • Support sales and customer service teams by providing credit expertise and ensuring that credit decisions are consistent with business objectives
  • Partner with investors to stay current with loans in TPR and provide updates to changing guidelines and requirements
  • Lead initiatives to enhance credit decision processes, incorporating automation and advanced analytics where applicable
  • Develop training programs to enhance underwriting practices and risk management
  • Create job aids for the underwriting team and lead training initiatives on new product rollouts
  • Develop domain knowledge of Fay's business to include an understanding of organizational goals and objectives
  • Maintain broad influence through ongoing development of relationships across the organization
  • Ensure compliance with Fay's policies, processes, and practices
  • Ensure audit and control processes are current and followed
  • Attend and successfully complete all department and company-required training
  • Role model Fay's Values, Operating Principles, ethical standards, professionalism, and code of conduct
  • Perform other duties and responsibilities as assigned
What you will bring to Constructive Loans:
  • Bachelor's degree in Finance, Economics, Business or a related field
  • 7+ years of experience in mortgage lending, with at least 3+ years working with guidelines, training, and exceptions
  • 5+ years' experience in credit policy, portfolio management, or related field in the financial or mortgage industry
  • Strong knowledge of mortgage credit policies, underwriting guidelines, and relevant regulatory requirements
  • Previous experience managing people and leading teams preferred
  • Demonstrated experience working in a fast-paced work environment
  • Strong verbal and written communication skills
  • Strong interpersonal skills with the ability to develop and maintain effective relationships across the organization
  • Collaborative and consultative work style; high team-orientation
  • Effective management skills include talent selection, training, coaching, and performance management
  • Demonstrated ability to foster an environment of positive engagement and trust
  • Open to change; agile; high learning agility
  • Strong analytical skills coupled with sound judgment
  • Strong problem-solving abilities
  • Ability to analyze and interpret data to identify opportunities and propose solutions
  • Demonstrated ability to establish credibility for recognizing and supporting the organization's culture, values and priorities
  • Strong project management skills
  • Strong attention to detail; strong quality and compliance orientation
  • Ability to effectively prioritize under tight deadlines in a fast-paced, dynamic environment; effective time management
  • Self-directed; ability to proactively ask questions and surface issues/ concern
  • Professional maturity, integrity, ability to maintain confidential data and information
  • Strong business acumen; strong fiscal and technical aptitude
  • Strong skills in MS Word, Excel, and PowerPoint

Equity and Inclusion are embedded into our way of working at Fay. We believe that the best ideas come from having a team that is diverse in backgrounds, experiences, and perspectives. We strive to ensure each of our employees feels valued, respected and included and is presented with equal opportunities to be successful here at Fay. We are proud to be an equal-opportunity workplace. The Fay Group and affiliated companies participate in E-Verify. For more information go to E-Verify is a registered trademark of the U.S. Department of Homeland Security.
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