Title: MPF Program Manager
Department: MPF (Member Services)
Position Summary The Mortgage Partnership Finance® (MPF) program is a secondary market outlet for 1-4 family residential mortgage loans sold by the Bank’s members, primarily small to mid-size banks and credit unions in the six New England states. The MPF Program Manager is responsible for the implementation and delivery of the MPF program’s sales, business development, and customer service initiatives. The incumbent is responsible for coordinating, developing, and transmitting all of the resources necessary for effective program usage, working either directly with members or through other Bank stakeholders. These responsibilities require extensive experience and knowledge of mortgage banking and the secondary mortgage market. The incumbent serves as one of the primary contacts with the MPF Provider (FHLBank Chicago), which provides back-office operations, base pricing, marketing support, customer service, and product development.
The MPF Program Manager’s responsibilities include product management and strategy, recruitment of new participating financial institutions (PFIs), training of new and existing PFIs, and providing ongoing technical assistance. Responsibilities also include development of business relationships with industry experts, the MPF Provider, other FHLBank MPF program managers and companies that support FHLBank member secondary market activities. The incumbent is responsible for managing at least one direct report, an MPF Mortgage Market Specialist. Together, the MPF Program Manager and the MPF Mortgage Market Specialist provide subject matter expertise on a wide range of sales, product, training and other program topics to PFIs and other FHLBank colleagues.
The position requires travel for Bank business, anticipated to be up to 20%, that may include overnight stays. Travel is primarily within the six New England states.
This role will have a hybrid work schedule in our Boston office in accordance with the Bank’s Hybrid Work Program.
- Minimum of 15 years of experience in mortgage banking with a depository financial institution or mortgage banking entity as extensive knowledge of mortgage banking and the secondary mortgage market is required for this role.
- Strong experience in various aspects of mortgage banking, including loan origination, underwriting, quality control, loan servicing and/or secondary market sales, is required.
The Federal Home Loan Bank of Boston is committed to building and sustaining a diverse workforce that reflects the communities that we serve. As an Equal Opportunity
Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.
Applications are being accepted on the Careers page of our website: www.fhlbboston.com
Hanscom Federal Credit Union
Littleton, MA 01460, USA
*This opportunity has a requirement to work on premises minimum 2-3 days per week in Littleton, Massachusetts*
It’s an exciting time to be at Hanscom Federal Credit Union! As a member of our Mortgage Lending department, you will join a dynamic team of dedicated individuals committed to rendering credit decisions on incoming applications consistent with Credit Union and Fannie Mae guidelines. We are committed to fostering career growth and development – when you join our organization it’s not just a job. We look to develop your skills aligned to our business needs and help you progress in your career.
What you’ll do
· Under the general supervision of the Mortgage Operations Manager, analyze employment profile, credit strength, property characteristics, and all other information pertinent to the credit decision process on each mortgage application.
· Review loans for approval and list conditions needed to clear the loan to close.
· Approve, deny, and counteroffer mortgage applications within authority limits.
· Utilize MortgageBot loan operating system
· Evaluate and verify the accuracy of the loan product, and pricing for each loan. Identify all possible counter offer situations to ensure the applicant’s options are fully determined and that fair lending was applied in all cases.
· Evaluate all supporting documentation and real estate appraisals to ensure items meet secondary market standards and requirements.
· Be proficient in underwriting the self-employed borrower and completing a cash flow analysis form.
· Utilize the daily mortgage loan production reports to maintain turnaround times.
· Report all problems or adverse situations to the Mortgage Operations Manager as they arise and handle accordingly as instructed.
· Analyze Condominium Projects to ensure Fannie Mae requirements are met for loans to be sold on the secondary market.
· Maintain knowledge of compliance laws applicable to mortgage originations including Equal Credit Opportunity Act (ECOA), Real Estate Settlement Procedures Act (RESPA), Regulation Z (TRID), Regulation C (HMDA), Fair Credit Reporting Act and other state and federal laws which may be applicable.
· Additional duties as assigned
· 1-3 years’ experience underwriting mortgages to secondary market guidelines, utilizing mortgage loan operating systems
· Must have strong organizational, analytical and customer service skills.
· Knowledge of Fannie Mae’s underwriting guidelines.
· Knowledge of real estate lending regulatory compliance.
· Familiarity with standard concepts, practices and procedures within the mortgage industry.
· Ability to work independently in a fast-paced environment.
· Knowledge of HMDA compliance.
Associates or better.
1-3 years: Mortgage underwriting
Please contact Jonathan Simms, Talent Acquisition Manager at email@example.com (978) 540-3396