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Director, Correspondent Lending Operations

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Job ID: 1001535
Company: PHH Mortgage

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Job Description

The Director of Correspondent Operations position has been established to develop and manage all aspects of correspondent function for the established Correspondent Lending line of business. This position will be responsible for overseeing all loan fulfillment activities related to loans originated through the Correspondent (“Seller”). This includes loan set up, compliance, pre-purchase review, underwriting, funding, quality, SLAs, production and ongoing coordination, communication and collaboration with correspondents through the Correspondent Support Team.

Job Functions and Responsibilities:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.

  • Responsible for leading all loan fulfillment activities from Seller submission through purchase and any post purchase involvement for the Correspondent Lending line of business.
  • Recruit, hire, train, and lead a team of operations and underwriting staff responsible for reviewing or credit decisioning correspondent loans.
  • Establish and manage standards and efficiencies, productivity levels and SLAs.
  • Analyze all applicable data associated with all fulfillment activities for root cause analysis and process improvements
  • Ensure implementation of credit policy requirements for the Correspondent Operations department.
  • Manage gathering of information of data for internal or external audits and exams.
  • Ensure operational risks are reported as required and controls are met.
  • Manage the exception process for review and approval as appropriate.
  • Monitor underwriting staff credit decisions and manage underwriter level authority as appropriate.
  • Interface with Sellers and Account Executives on all Purchase related matters and process changes needed based on industry standards.
  • Address quality issues on behalf of the Correspondent Lending line of business to the appropriate working groups.
  • Work with the correspondent customers to train them on processes, guidelines, policies and procedures.
  • Ensure all Correspondent Operations system and processes are compliant.
  • Ensure APAC and vendor performance are managed daily, and communication, collaboration and direction are provided.
  • Drive the importance of quality and customer service with all Correspondent employees.
  • Build internal and external working relationships.


To perform this job successfully, an individual must have the following education and/or experience:

  • Four year degree from an accredited university in finance, business or equivalent mortgage industry experience.
  • Minimum 10 years mortgage lending experience with experience in a correspondent lending preferred.
  • Minimum of 7 years management experience leading mortgage operations and underwriting teams.
  • Extensive knowledge of mortgage lending including underwriting, legal, compliance, regulatory, investor compliance, and risk management practices preferred.
  • Strong working knowledge of secondary marketing guidelines and agency guidelines, including DU and LP and investor AUS.
  • Strong production and capacity management skills.
  • Ability to effectively interface with all levels of management and proven ability to coach and mentor team members.
  • Demonstrated strategic mindset and process engineering skills and excellent communication, facilitation and presentation skills.
  • Prior experience working with and managing global staff and vendors.

Training / Licensing Requirements:

  • Must pass the Company’s Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.

About Us

Company: PHH Mortgage

PHH Mortgage, a wholly owned subsidiary of Ocwen Financial Corporation, is one of the largest subservicers of residential mortgages in the United States. PHH Mortgage provides servicing solutions to companies who own mortgage servicing rights and offers portfolio retention services to extend and enhance customer relationships.

PHH has been providing mortgage lending and servicing solutions since 1984 and is dedicated to responsible and ethical practices while delivering an exceptional customer experience. We strictly focus on subservicing and portfolio retention allowing our diverse professional clients – representing some of the largest and most recognizable financial and wealth management institutions, investors of MSRs, regional and community banks, and credit unions – to concentrate on their core businesses, while providing borrowers with exceptional customer service throughout the life of their loans.

Adhering to the highest levels of risk and compliance, built to bank-like standards, we build relationships with our clients and their customers to promote a philosophy of retaining “customers for life.” We strive to be a natural extension of each client’s team, helping them to keep their expenses down, borrowers satisfied and service levels up while meeting today’s regulatory demands and changing market conditions.

Ocwen is proud to be an equal opportunity workplace and is an affirmative action employer. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.

This position is not eligible to be performed in the state of Colorado.

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