Correspondent Lending Manager

Primary Office Location :

4140 East State Street. Hermitage, Pennsylvania. 16148.

Join our team. Make a difference - for us and for your future.

Position Title : Correspondent Lending Manager

Business Unit : Mortgage Administration

Reports To : Director of Mortgage Services

Position Overview :

This position is primarily responsible for managing the business of originating third party paper from qualified mortgage companies, mortgage brokers or other deposit institutions such as credit unions, community banks and captive real estate owned mortgage companies. The incumbent manages the operational, pricing, sales and profitability of Correspondent Lending and develops policy and procedure to insure all regulatory and risk for the corporation is mitigated at an acceptable level based on current corporation directives.

Primary Responsibilities :

Produces correspondent rate sheets in an accurate and timely manner and portfolio rate sheets within requirements for yield spread and in conjunction with working with the Treasury Department on cost of funds requirements and business line RAROC requirements.

Executes the sales strategies to meet or exceed annual objectives in closed residential mortgages based on the direction of senior management.

Performs analysis of daily position report to assist in the decision making for hedging and executes the strategy for managing the risk associated with mortgage correspondent pipeline.

Enhances and maintains the management reporting process to ensure that senior management is apprised of pipeline quality, risk and closed volume estimates compared to current plan.

Assists in the development and execution of the strategy for selling loans in the most profitable manner include working along with all other relevant players within the corporation with dotted line management responsibilities of the Secondary Market Department activities.

Supervises all operational and sales functions within Correspondent Lending and in cooperation with retail operational policies and procedures.

Develops all procedures and contracts associated with the development and delivery of mortgage loans through this business channel.

Oversees the daily pricing function for secondary markets and portfolio products by staying current with how loans are priced with various secondary market investors in order to produce correspondent rate sheets and portfolio rate sheets.

Performs best execution analysis on pricing for all correspondent loan products and programs offered through the correspondent production channel including price characteristics of the pipeline both on a whole loan basis and on a MBS securitized basis.

Performs other related duties and projects as assigned.

All employees have the responsibility and the accountability to serve as risk managers for their businesses by understanding, reporting, responding to, managing and monitoring the risk they encounter daily as required by F.N.B. Corporation's risk management program.

F.N.B. Corporation is committed to achieving superior levels of compliance by adhering to regulatory laws and guidelines. Compliance with regulatory laws and company procedures is a required component of all position descriptions.

Minimum Education : BA or BS

Minimum Years Experience :

10

Special Skills :

Excellent management skills

Excellent communication skills, both written and verbal

Excellent organizational, analytical and interpersonal skills

Ability to use general office equipment

Ability to use a personal computer and job-related software

MS Word - Basic Level

MS Excel - Basic Level

MS PowerPoint - Basic Level

Specific knowledge and understanding of FNMA, Freddie Mac, Ginnie Mae, FHA and VA products.

Special Licenses and Certificates :

N / A

Physical Requirements :

N / A

Equal Employment Opportunity (EEO) :

It is the policy of F.N.B. Corporation (FNB) and its affiliates not to discriminate against any employee or applicant for employment because of age, race, color, religion, sex, national origin, disability, veteran status or any other category protected by law. It is also the policy of FNB and its affiliates to employ and advance in employment all persons regardless of their status as individuals with disabilities or veterans, and to base all employment decisions only on valid job requirements. FNB provides all applicants and employees a discrimination and harassment free workplace.