EVP, Credit and Operations

Description

The EVP of Credit and Operations is responsible for managing the Fannie Mae, Freddie Mac, and FHA credit and closing teams, including the Chief Appraiser. This position ensures the teams work collaboratively with other Merchants’ platforms and external parties. The EVP of Credit and Operations will help manage external agency relationships while problem solving credit and production related issues with borrowers, loan originators, underwriters, and agency counterparts.  

Requirements

• Lead and develop the 5 SVP’s of the company’s credit, closing, and third party report teams. This would include reviewing and re-establishing the procedures and guidelines for each. 
• Manage staffing, roles, & responsibilities to ensure our teams are working efficiently and meeting expectations of the company and giving a consistent customer experience across the platforms.
• Help cultivate Agency and FHA production/credit relationships while driving key strategic initiatives forward. 
• Work closely with Head of Production and Deputy Head of Production to ensure our production process is smooth both internally and externally. This would include managing deal issues that arise during the production process upon signed engagement letter. This position would be an advocate for originations while managing our credits teams to agency and FHA guidelines. 
• Help implement any new technology and process changes for the platform that have a direct effect on production, which would include sales, credit, and closings. 
• Ensure proper balance of adherence to agency guidelines while advocating for borrowers for best outcomes of various financing products (waivers, troubleshooting issues…etc.)
• Oversee closing and delivery teams ensuring our teams are working well with credit, originations, and also managing the borrower relationships appropriately. 
• As our credit and origination teams work to engage and finalize third party reports, this position will oversee our Chief Appraiser and manage the right balance btw production and credit with respect to the appraisal, PCA, and Phase I. 
• Active voting member of FHA and GSE loan committee.
• Advise executive leadership on best practices to balance future growth with sounds underwriting, closing processes. 

Expected Experience, Skills and Education:

• Equivalent education and experience to ensure strong financial and business acumen required; some combination of bachelor’s level education, extensive related lending experience, and/or 15-plus years’ relevant credit review experience required.
• Advanced understanding of financial statements, tax returns, and other relevant documents used in the analysis of lending risk.
• Mastery of agency lending processes, industry terminology, and relevant borrower information.
• Superior understanding of regulations related to Agency lending and loan risk management.
• Must demonstrate sophisticated analytical skills with the ability to execute on objective, fact-based decisions.
• Previous experience successfully managing production and credit teams and collaborating with loan officers.
• Must be organized and detail-oriented with the ability to translate complex, sophisticated, detailed information into usable formats for broader audiences.
• Demonstrated success in discerning market forces and developing appropriate, profitable business strategies.
• Strong grasp on corporate governance, managerial best practices, and risk management and mitigation.
• Solid understanding of relevant business finance and operations.

ABOUT MERCHANTS CAPITAL

With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multifamily housing nationwide. Our licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways. Recognized as a top five affordable lender, Merchants Capital pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners. To learn more about Merchants Capital, visit www.merchantscapital.com.