Director, Mortgage Services

Alexandria, Alexandria City, Virginia
Sep 03, 2014
Nov 06, 2014
Full Time

Pentagon Federal Credit Union serves over 1 million members in the Air Force, Army, Coast Guard, Department of Homeland Security, Department of Defense, defense-related companies, and the Veterans of Foreign Wars. We were federally chartered in 1935 and serve our members worldwide.

Pentagon Federal Credit Union is one of the strongest and safest financial institutions with more than $15 Billion in assets. We offer mortgages, credit cards, automobile loans, personal loans, checking, money market savings, and other accounts.

We have an immediate opening for a Full Time Director, Mortgage Services position at our Alexandria, Virginia office.


The incumbent assist the Senior Vice President, Mortgage Services with the management of the Mortgage Services departments including the development and implementation of policies, plans and programs. Functional areas include the Origination, Underwriting, and Closing of 1st and 2nd Trust Mortgage loans, pricing, Secondary Market Management, and Servicing of 1st Mortgage loans and Mortgage releases.

Essential Duties

Manages assigned functional areas and evaluates the mortgage loan portfolio ensuring efficient and cost effective operations by analyzing, developing, revising and implementing related programs, policies and procedures.

Manages and evaluates the total mortgage loan portfolio in assuring an appropriate Return on Assets.

Acts as a member of the Management Staff, working with other members to develop goals and strategies in order to meet objectives set by Senior Management. Develops and implements programs, policies and procedures to meet these objectives.

Develops, interprets and implements mortgage loan policies; develops new real estate loan services and recommends changes to ensure the cost effectiveness of the mortgage lending process.

Manages secondary market activities including the sale of mortgage loans on the secondary market.

Maintains general oversight of one or more of the following mortgage functions in assigned branches for the region: origination and processing of 1st and 2nd mortgage products, closing, post closing, servicing, underwriting, compliance and training.

Serves as daily contact for interaction between mortgage department for the region and other internal PFCU departments, and vendors.

Remains current on a variety of the mortgage field’s regulations, trends, practices, and procedures.

Assesses operational, economic and service quality risk associated with mortgage operations and recommends appropriate action to the Vice President, Mortgage Services as required.

Provides mortgage loan servicing technical and functional expertise for use in automated system utilization and problem resolution.

Assists in recruiting, training and continuing professional development of mortgage services personnel.

Acts as the primary contact with EDP support vendors, contract administrators, coordinating activities and resolving concerns, to ensure the highest quality of service for PFCU membership.

Ensures that related programs, policies and procedures conform to Federal and state regulations, standards and guidelines.

Serves as liaison with Internal Audit on second trust mortgages.

Ensures that related programs, policies, and procedures conform to secondary market guidelines.

Keeps informed of new ideas and developments through publications, membership in professional organizations and contact with other financial institutions.

Reviews competitive market practices and makes recommendations concerning adjustments to programs and procedures in related areas.

This is not intended to be an all inclusive list of job duties.

Special Requirements

Baccalaureate degree in related field or a combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions.

Advanced degree or equivalent preferred.

Eight years of progressively responsible work in a lending field, preferably with real estate lending, required.

Requires strong sales and marketing ability to promote PenFed membership within the community.

Experience in utilizing automated loan servicing systems or aptitude to learn systems, required.

A wide degree of creativity and latitude is expected.

We can offer you:


  • Challenging intellectual environment that requires both individual contribution and team collaboration.
  • Medical, dental, vision & prescription drug coverage.
  • Company paid short- and long-term disability coverage.
  • Company paid life insurance.
  • Generous education assistance program.
  • Flexible Spending Accounts for out-of-pocket medical and dependent care expenses.
  • Immediate enrollment in 401(k) plan with company match (100% of first 4% you contribute) after 6 months on the job.


You do not need a security clearance but you must  pass a credit and criminal background check.

Pentagon Federal Credit Union values diversity and is an equal opportunity employer. m/f/v/d