Home Equity Job Description

Home Equity Job Description

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Home equity provides loan level systemic support to production employees regarding compliance issues in FAMC’s Loan Operating System and Compliance Ease.

Home Equity Duties & Responsibilities

To write an effective home equity job description, begin by listing detailed duties, responsibilities and expectations. We have included home equity job description templates that you can modify and use.

Sample responsibilities for this position include:

SME for the end-to-end processes of HEF documentation and some PFP operations pieces (how to complete, who is responsible for completing, how to make updates/changes, specific to HEF documentation, storage of templates, how to retrieve from storage, Canadian Banking Operations document management system)
Liaise with Regulatory Initiatives team, Law Group and Canadian Banking Operations (DLFC) teams to make changes to HEF & PFP COB Disclosures
SME for HEF/PFP regarding Canadian Banking Operations internal and vendor procedures
Communicate with loan originator, management, underwriter and borrower(s) as required to ensure all parties are aware of loan status and any outstanding requirements
Accurately process loans in alignment with established productivity metrics
Review and validate loan file for completeness and accuracy and ensure any deficiencies/ gaps are appropriately addressed and resolved prior to submitting to Underwriting or Closing
Ensure all required conditions are received and reviewed prior to submitting to Underwriting
Follow written policies and procedures to ensure all loans are processed in accordance with company, regulatory and investor guidelines
Accountable to ensure that Loan Origination system is complete and verify accuracy at all points in time, including Loan Status and Notes
Develop and follow up on cold and warm sales leads for Mortgage Home Equity products to consumers This process is via Internet and telephone sales

Home Equity Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Home Equity

List any licenses or certifications required by the position: SASE, CRCM

Education for Home Equity

Typically a job would require a certain level of education.

Employers hiring for the home equity job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Business, Finance, Education, Accounting, Economics, Business/Administration, MBA, Military, Statistics, Management

Skills for Home Equity

Desired skills for home equity include:

Education
Banking
Bank’s products
Consumer loan and related laws and regulations
Consumer loan and line documentation
Consumer loan compliance regulations
Operational systems and practices typically gained through extensive experience
Policies and procedures relating to loan products
MS Windows and MS Office software
Websites

Desired experience for home equity includes:

Knowledge of federal and state regulatory requirements strongly preferred
Be responsible for maximizing productivity, net conversion/funded mortgage volume, developing and executing new strategies and procedures, manufacturing quality, employee satisfaction, customer satisfaction adhering to all federal, legal, compliance and monitoring requirements for the sites
Manage and facilitate change management
At least 2 years of financial services experience or 3 years customer service experience
1 year of experience working with FNMA/FHLMC/FHA/VA programs and underwriting guidelines, those of other conventional investors, state/local bond programs and private mortgage insurers
At least 1 year of financial services experience or at least 2 years customer service experience

Home Equity Examples

1

Home Equity Job Description

Job Description Example
Our company is growing rapidly and is looking to fill the role of home equity. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for home equity
  • Work closely with the operations staff (particularly Processors, Underwriters, and Closers) to ensure that the loan applications are fully completed, that the necessary supporting documentation is received, and that the loans close as scheduled
  • Apply underwriting standards to each transaction to ensure that borrowers are put into a loan program for which they qualify
  • Hire, train, coach, motivate and develop a solid team of Loan Specialists/Loan Coordinators
  • Manage team turnaround times, workflow, standards for volume and errors, and create reports for upper management
  • As necessary, perform all Loan Specialist/Loan Coordinator and Underwriter responsibilities
  • Ensure that the team follows policies, processes and procedures of pre-funding operations
  • Suggest ideas for improvement through process improvements
  • Serve as a SME for Loan Specialists/Loan Coordinators and Underwriters
  • Coordinate employee schedules to include extended hours of operation and Saturday business
  • Participate in or lead special projects including loan system upgrades, processing and documentation testing of new states and new software rollouts
Qualifications for home equity
  • At least 1 year of mortgage processing experience
  • At least 1 year of experience working with FNMA/FHLMC guidelines those of other Investors and Private Mortgage Insurance Companies
  • 1 year experience originating consumer loans which includes residential mortgage, auto, home equity and unsecured
  • Bachelors or Masters degree in Business, Finance or military experience
  • Stay current with all systems changes and conduct User Acceptance Testing as changes are made
  • At least 3 years of Mortgage Fulfillment or at least 3 years of Home Equity Originations experience
2

Home Equity Job Description

Job Description Example
Our company is looking for a home equity. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for home equity
  • Responsible for developing and executing the end-to-end strategy for each segment that result in profitable growth through enhanced spread, reduced costs and increased volumes
  • Strategy includes consideration of customer, value proposition, channel, competition, macro economic factors, product & innovation, marketing, pricing & fees and profitability
  • Develop the strategy for marketing to each of these segments and work in partnership with Marketing to execute these strategies, offers and tactics to achieve growth plans
  • Use complex data to provide analytics and strategic insight for business decisions and to explore new opportunities for Home Equity Financing strategies, including
  • Developing and leading the Home Equity Stress Testing & Credit Loss Forecasting models, including supporting the implementation of modeling and analytical methodologies
  • Manages product portfolio including market, competitive, and portfolio analyses
  • Drives product changes through the understanding of the competitive landscape, with a focus on innovative and evolutionary product strategies
  • Defines key measures of portfolio performance
  • Maximizes profitability through solid value proposition and market positioning of the portfolio to ensure growth
  • Works closely with executive leaders within segment, Corporate Finance, Marketing, Analytics, and Operations
Qualifications for home equity
  • Demonstrated collaborative ability to partner with and direct a number of internal and external partners
  • Innovation, creativity and self-motivation
  • Advanced knowledge of the mortgage sales process and sales force behaviour
  • Demonstrated ability to connect process and policy to data
  • Strong knowledge of collateral management, property valuation and/or real estate market business acumen
  • Strong knowledge of Home Equity Financing products and end to end mortgage life cycle
3

Home Equity Job Description

Job Description Example
Our innovative and growing company is looking for a home equity. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for home equity
  • Creates the right balance of growth across the entire portfolio product suite with respect to funding implications, rate environment, competitive and regulatory pressures
  • Responsible for creating profitable growth through the correct mix in pricing and volume across the entire portfolio
  • Defines portfolio’s key measures by working closely with finance on portfolio level financial projections, balance sheet analyses and pricing strategies
  • Working across segments and with other leaders, identifies opportunities for cross selling and leveraging knowledge of existing and potential customers to grow portfolio and increase revenue
  • Identifies opportunities to gain competitive advantage by leveraging unique SunTrust brand and purpose
  • Ability to identify and develop talent and create a work environment that supports and fosters a culture of collaboration and “one team”
  • Applies knowledge of Chase credit underwriting guidelines
  • Demonstrates high proficiency in the review of loan underwriting documentation to ensure compliance with investor requirements
  • Demonstrates proficiency in analyzing extremely complex financial information including recalculation of income and debt ratios, verification of assets, collateral review and credit review
  • Prioritizes workflows and assists with pipeline management
Qualifications for home equity
  • Previous experience working with residential mortgage transactional data
  • Business sense and profit orientation with an understanding of how the mortgage business works
  • University degree with emphasis on business and demonstrated ability for critical thinking & numerical analytics
  • Highly skilled with Excel and PowerPoint (must have)
  • A minimum of 2 years of demonstrated sales or customer service experience/skills required
  • Prefer two years of residential mortgage experience
4

Home Equity Job Description

Job Description Example
Our company is looking to fill the role of home equity. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for home equity
  • Research and reconcile outstanding monetary transactions on multiple general ledgers
  • Refer and resolve outstanding general ledger items to be cleared within department standard
  • Respond to urgent and escalated e-mails from our internal Chase partners and management
  • Write, review, maintain, and test procedures/processes/information annually to evaluate controls
  • Must maintain departmental service and productivity goals
  • Assists in the development, implementation, and enforcement of departmental policies and procedures
  • Completes special projects and/or other tasks as assigned by the Supervisor
  • Must understand Accounting principals concerning loan bookings, monetary movements, adjustments and cash flow
  • In collaboration with business partners develop actionable insights with respect to pricing, opportunities to influence client selection of product type / structure to optimize profitability, link potential or actual segment specific policies to performance outcomes and determine appropriate course of action
  • Identify where client behavior within a segment differs with respect to product, channel, buying behavior, in a relevant and potentially actionable manner
Qualifications for home equity
  • Strong working knowledge of Project Management Framework
  • Proficient with a variety of software applications (Microsoft Office, Compare, Adobe Professional)
  • Experience with Home Equity or Mortgage lending portfolio’s risk modeling
  • Experience in developing and defining analytical methodologies
  • Loan origination and FHA experience is preferred
  • Ability to multi task and handle high work volumes
5

Home Equity Job Description

Job Description Example
Our company is searching for experienced candidates for the position of home equity. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for home equity
  • Work with Senior Manager, Segment Strategy and Finance to develop a segment-specific profitability model
  • On direction from Senior Director, Strategic Segments, and in collaboration with business partners oversee the continued development of comprehensive reporting for segments and ensure its regular production
  • Conduct an in-depth needs analysis with the customer to understand and address their needs in order to provide the best solution(s)
  • Set expectations related to time to close, funding
  • Provide regular updates throughout the process to the customer
  • Work with the customer to understand the documentation needed to proceed in the application process
  • Cross-sell additional products that address customers’ short and long term financial needs as identified
  • Work with Underwriting to understand conditions and provide clear and concise information in order to make the best lending decision
  • Work with branch staff to coordinate closings
  • Cross-sales based upon customer needs analysis
Qualifications for home equity
  • Confident using telephone communication skills with customers
  • Flexibility to work extended hour during heavy workload periods
  • Finance industry experience preferred (auto finance, credit cards, etc)
  • Underwriting and/or funding experience
  • 10+ years of financial services experience - consumer lending
  • Prefer two years of commission based mortgage sales experience

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