Position Summary
Responsible for the overall direction and operational strategy of Enterprise Credit Policy. Reporting to the Chief Risk Officer, this role will oversee Enterprise Credit Policy/Risk for the company and across multiple channels and site locations nationwide. Requires a firm understanding of Credit Underwriting and Risk Management with a thorough understanding of the Residential Lending process.
Responsibilities
- Drives progress on all initiatives in designing the enterprise-wide credit platform to reduce fragmentation and credit risk, strengthening capabilities for continued growth of the organization.
- Provides expertise regarding strategy, operations/financial management, customer loyalty, and building organizational effectiveness.
- Creates/implements strategic plans to accomplish business objectives while providing recommendations into longer-term business line strategic plans.
- Works behind the scenes to coordinate and direct the daily operations of the team.
- Designs and implements processes, solves problems, and mediates disputes while ensuring credit policy-related plans are executed responsibly.
- Works with Senior Management, Investors, and Capital Markets to create and maintain guidelines for all product(s) that can be sold into the secondary market.
- Acts as a resource to business partners with respect to questions about product and/or other issues that may come up during the lending cycle based on industry knowledge and experience.
- Ensures integrity of the Enterprise Credit Policy framework in terms of underwriting criteria across various lending divisions.
- Coordinates meetings with various groups/divisions to clarify issues, identifies responsibilities and determines impact of policy/procedural modifications and, in general, facilitates the timely development of new and revised procedures.
- Chairs the Enterprise Credit Policy Committee (ECPC), reviews loan performance and quality data as well as other credit data to make recommendations that will drive loan quality and performance.
- Acts as the final end point for escalated credit policy decisions and as the key point of contact with regulators and other counter parties relating to credit policy.
- Provides thought leadership on new and existing loan programs. Identifies areas for improvement and implements changes as necessary.
- Works with VP, Enterprise Credit Quality and leadership in Operations and underwriting to review QA/QC results and implement necessary guideline changes to increase loan quality and performance.
- Works with Sales leadership to ensure that products, lending guidelines, and credit policy are aligned with company strategy for success.
Requirements
- Bachelor’s Degree preferred and a minimum of twelve (12) + years’ experience working in a similar field.
- Minimum eight (8) + years of management experience preferred.
- Minimum eight (8) + years of conventional and government loan experience.
- Experience in the Mortgage industry preferred.
- Experience in Underwriting designations preferred.
- Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position.
- Displays expert knowledge in conventional, government, and non-prime guidelines as well as a deep and wide network at the GSEs, HUD, FHA, and VA.
- Skilled at developing credit KRIs, KPIs and management reporting as well as interpreting credit-related data.
Why work for #teamloanDepot:
- Aggressive compensation package based on experience and skill set.
- Inclusive, diverse, and collaborative culture where people from all backgrounds can thrive.
- Work with other passionate, purposeful, and customer-centric people.
- Extensive internal growth and professional development opportunities including tuition reimbursement.
- Comprehensive benefits package including Medical/Dental/Vision.
- Wellness program to support both mental and physical health.
- Generous paid time off for both exempt and non-exempt positions.
About LoanDepot
loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster, and less stressful to purchase or refinance a home. Today, as the nation's second largest non-bank retail mortgage lender, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional, and national philanthropic efforts.
Base pay is one part of our total compensation package and is determined within a range. This provides the opportunity to progress as you grow and develop within a role. The base pay for this role is between $205,000 and $230,000. Your base pay will depend on multiple individualized factors, including your job-related knowledge/skills, qualifications, experience, and market location.
We are an equal opportunity employer and value diversity in our company. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
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