Mortgage Operations Specialist coordinates the company's entire mortgage lending operations and activities. Reviews, analyzes and modifies overall operational systems and procedures relating to the mortgage lending function. Being a Mortgage Operations Specialist develops activities within the mortgage lending operations area and coordinates those activities with other functional areas. Monitors operations to ensure they are within budget. Additionally, Mortgage Operations Specialist provides recommendations for improvements in processes. Requires a bachelor's degree. Typically reports to a manager or head of a unit/department. The Mortgage Operations Specialist has gained full proficiency in a broad range of activities related to the job. Independently performs a wide range of complex duties under general guidance from supervisors. To be a Mortgage Operations Specialist typically requires 5-7 years of related experience. (Copyright 2024 Salary.com)
NACA MORTGAGE SPECIALIST
COMPENSATION: $21 to $30 per hour
FLSA: Non-Exempt
LOCATION: Nationwide with Charlotte, NC as the main office
CONTACT: jobs@naca.com or 617-250-6222 ext.1221
BENEFITS: Comprehensive package: single/family health, vision, dental and 401(k)
WEBSITE: www.naca.com
NACA
NACA is the country’s preeminent non-profit homeownership and advocacy organization with than two million Members and 47 offices nationwide. Over the past thirty years NACA has established a proven track record earning not only the respect but fear from others in the lending industry. NACA stands out in the following areas: 1) It is the most effective organization in the country in providing affordable homeownership; 2) It is the place to work to fight for economic justice for those dedicated and willing to work hard; and 3) NACA provides unprecedented opportunities for staff to do well financially by doing good.
Started in 1988, NACA has won campaigns against some of the country’s most powerful companies and individuals that engaged in predatory and discriminatory lending. NACA’s success is a result of its aggressive, confrontational advocacy and state-of-the-art systems and operations. The purchase program provides comprehensive counseling as HUD’s largest housing counseling agency (through its Neighborhood Stabilization Corporation subsidiary) with access to NACA’s Best in America mortgage which requires no down payment, no closing costs, no need for perfect credit and always at a below-market, fixed interest rate. NACA has more than $20 billion in mortgage commitments from Bank of America and other major lenders to support this program. Through NACA’s HomeSave program for homeowners with an unaffordable mortgage, NACA is also the most effective organization in providing affordable solutions and has done so for over 250,000 at-risk homeowners nationwide.
Built on this unprecedented track record of success, NACA is rapidly expanding across the country and is hiring many hard working, dedicated, exceptional new employees. NACA continues its aggressive advocacy in fighting for economic justice for low-to moderate-income people and communities. NACA also continues to fight for economic justice including eliminating student debt, increasing taxes on the wealthy, reducing income inequality, ending structural racism and mitigating climate change among other issues. Employees at NACA have a tremendous impact on the communities and Members they serve. For more information about NACA, its history and programs, visit www.naca.com.
MORTGAGE SPECIALIST
The Mortgage Specialist evaluates and approves files submitted by NACA Counselors (“Counselors”) based on the NACA Mortgage’s “Character Lending” criteria. Attention to detail is a must. NACA does not use traditional risk-based pricing criteria, but instead determines if the file demonstrates that a Member is ready for home ownership and the requested payment is affordable. The criteria are based on a Member’s (i.e. homebuyer) payment history that s/he controls and compensating factors without consideration of their credit score. The criteria are detailed in NACA’s extensive Policies and Procedures which the Mortgage Specialist is required to have a thorough understanding of and continually references.
The Mortgage Specialist must be able to manually calculate income and decision readiness for homeownership with an affordable mortgage payment based on the Member’s individual circumstances. This includes examining and verifying documents and data to ensure accuracy and completeness. The Mortgage Specialist makes an approval decision based on determining whether the Member is ready for homeownership with an affordable mortgage payment after reviewing a complete document and information package. This position requires communication with Counselors, Members, real estate agents, participating lenders and others to assist Members through the qualification, bank application, and closing process.
The Mortgage Specialist only utilizes the criteria of NACA’s one mortgage product – NACA’s Best in America Mortgage. NACA’s purchase program uses this criterion even if the Member ultimately obtains another mortgage. The files are reviewed twice – first to determine if a Member is qualified for the NACA Mortgage (i.e., NACA Qualified) and thus ready for the housing search (i.e., NACA Qualification). Each file is reviewed again when submitting a bank application after a property is identified and the Member has executed a Purchase and Sale contract. The NACA mortgage requires full document review. The Mortgage Specialist must adhere to the NACA Mortgage criteria considering compensating factors and adjusting for circumstances out of the Member’s control. It is the Mortgage Specialist’s ultimate responsibility to determine whether Members are ready for homeownership and the maximum mortgage payment they can afford. The Mortgage Specialist will be trained on how to use NACA's state-of-the-art, web-based mortgage counseling, processing and review software known as 'NACA Lynx'.
Once the file is approved by the Mortgage Specialist and submitted to a participating lender, there should not be any credit, income or asset conditions. While participating lenders make the final underwriting decisions, NACA’s agreements with the lenders provide the flexibility to utilize character-base and compensating factors. Any lender conditions must be addressed to meet NACA’s standard of nearly 100% of bank applications approved and funded by the lender. The Mortgage Specialist works with Counselors to achieve a thorough understanding of the NACA Mortgage criteria and NACA’s Policies and Procedures. The Mortgage Specialist also identifies areas of improvement among staff based on the quality of submissions. The successful Mortgage Specialist is expected to offer recommendations, additional assistance and training as needed.
JOB RESPONSIBILITIES
The Mortgage Specialist must accomplish the following on a day-to-day basis:
Additional Programs & Responsibilities:
TIME DEMANDS:
The Mortgage Specialist must be able to meet the demands of the job with overtime as permitted and necessary. Typical working hours are: 8:30 a.m. to 6:00 p.m. weekdays with additional time as NACA determines necessary which may include evenings and weekends. The Mortgage Specialist is expected to work within the required schedule with no or limited need for overtime unless otherwise required or approved.
COMPENSATION:
The compensation is $21 to $30 per hour plus overtime (i.e., $45,000 to $70,000 annually) based on experience, skills, degrees, and certifications. The candidate’s performance evaluation and future compensation is largely based on meeting the job responsibilities, competencies and skills stated herein.
JOB QUALIFICATIONS
NACA seeks leaders with a positive and open attitude, a strong work ethic and relentless commitment to success with attention to detail and ability to meet aggressive deadlines and ambitious goals. S/he is expected to have a high level of core competencies and skills included in one’s personal characteristics and professional experiences in the following areas: communication, organizational skills, professional skills, professionalism, customer service, time management, positive leadership, computer skills and being mission-driven. The Core Competencies & Skills are described in detail at www.naca.com.
EDUCATION:
EXPERIENCE:
APPLICATION PROCESS
Applicants must complete the application at www.naca.com.
NACA is an equal opportunity employer. Minority and bilingual individuals, particularly those who speak and write in Spanish, as well as second change applicants are strongly encouraged to apply. To follow-up and for inquiries regarding this and other positions please contact NACA's HR Department at jobs@naca.com or call 617-250-6222 ext.1221.
This job description is solely for descriptive purposes with NACA reserving the right to make unilateral changes to this job description including the compensation for all staff or on an individual basis. NACA may also change the compensation during campaigns, activities and events at its discretion. This does not constitute a contract for employment.
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