If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer.
Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!
The Correspondent Lending Purchase Review Manager plays a pivotal role and is responsible for overseeing the closed loan pipeline. This role ensures timely review and completion of closed loans submitted for purchase, acts as a SME, and collaborates with Correspondent Lending Manager and internal stakeholders to drive process improvement and operational efficiency. This position is a working team lead position and will carry a pipeline.Key Responsibilities:
- Perform purchase review of closed loan files submitted for purchase according to policies and procedures
- Ensure submitted loans comply with Webster guidelines as well as all applicable laws and compliance policies
- Coach and support a team of purchase reviewers, fostering a high-performance culture focused on accuracy, timeliness, and compliance
- Monitor daily workflow to ensure service-level agreements (SLA’s) are met for purchase reviewer and funding timelines
- Monitor originations and fundings to plan and report to management
- Coordinate purchase review assignments
- Perform wire review requests for compliance with policies and procedures for approval and release
- Oversee wire deficiencies or issues
- Oversee bridging issues
- Serve as an escalation point for complex loan scenarios, document deficiencies, or compliance concerns
- Timely escalation of issues to MD Correspondent Lending
- Manage 3rd party vendor HMDA findings
- Manage 3rd party vendor purchase review and loan set up
- Maintain accuracy of internal checklist and procedures
- Identify trends, process gaps and training needs and recommend to Correspondent Manager process improvements to enhance team efficiencies and performance.
- Assist in onboarding and training of new team members
- Generate team performance metrics and reporting management
Skills/experience qualifications:
- 10+ years of experience in mortgage, with at least 2 years in correspondent lending or loan review preferred
- Prior leadership or supervisory experience in a high-volume mortgage environment
- Strong knowledge of mortgage regulatory requirements, closing, and investor requirements
- Strong communication and interpersonal skills
- High attention to detail and a commitment to loan quality and compliance
- Strong technical skills with intermediate knowledge and experience in Microsoft Office – Word, Excel, Outlook, PPP. Experience in Encompass, TPOC and OB preferred
- Strong organization skills.
The estimated salary range for this position is $125,000 USD to $128,000 USD. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.
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All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.
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What We Do
Webster is a leading commercial bank that delivers financial solutions to business, individuals, families and partners. With more than $60 billion in assets, we offer digital and traditional service delivery through our differentiated lines of business: Commercial Banking, Consumer Banking and HSA Bank, one of the country’s largest providers of employee benefits solutions.
Webster Financial Corporation and its subsidiaries ("Webster") are equal opportunity and affirmative action employers M/F/D/V. All qualified applicants will receive consideration for employment without regard to race, color, religion, age, marital status, national origin, ancestry, citizenship, sex, sexual orientation, gender identity and/or expression, physical or mental disability, protected veteran status, or any other characteristic protected by law.
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