Mercedes Pedrick
Hewitt,New Jersey
Summary
Experience with FNMA, NON QM, Jumbo Loans , Investment Loans and Knowledge of DU. Lead and develop a team of Mortgage operations professionals, supporting in skill, leadership and growth. Maintain a sound knowledge of secondary marketing activity, investor guidelines, and industry practices. Continuously look for ways to improve processes, both in terms of procedures and use of the LOS system to ensure continuous efficiency and customer service improvement and to reduce errors. Experience in Fair Housing regulations, TILA, RESPA, TRID, HMDA, ECOA & UDAAP. Versatile mortgage professional with background in banking and a previous Retail Banking professional. Ready to tackle new challenges in position within mortgage industry where talents in skills will be valuable. Qualified financial leader offering demonstrated success in managing internal processes, improving controls and strengthening systems for optimal performance. Gifted in building and leading solid teams to handle high-volume operations with consistency, accuracy and full compliance with regulatory requirements. Excellent time management and problem-solving skills. Organized and dependable candidate successful at managing multiple priorities with a positive attitude. Willingness to take on added responsibilities to meet team goals.
Overview
53
53
years of professional experience
1
1
Certification
Work History
SVP/Director of Home Finance
Spencer Savings Bank
07.2022 - Current
- Maintain sound knowledge of secondary marketing activity, investor guidelines, and industry practices
- Make appropriate adjustments to processes, systems, and personnel and manage credit policy based on investor and regulatory guidelines, including overseeing loan-level exceptions
- Lead and develop team of residential mortgage professionals, supporting in skill, leadership and growth
- Collaborate with Secondary Market standards to develop competitive mortgage product mixes
- Continuously look for ways to improve processes, both in terms of procedures and use of LOS system to ensure continuous efficiency and customer service improvement and to reduce errors
- Establish reporting and identifying trends to provide recommendations to Executive management regarding opportunities to improve efficiency, productivity, and customer experience
- Responsible for all aspects of residential mortgage lending (owner-occupied, investment and home equity lending) including but not limited to origination, underwriting and collaborate with Sales team to create exceptional customer experience for borrowers
- Monitor and modify as needed mortgage lending programs including but not limited to products, rates, terms and fees; manage key vendor/partner relationships; identify member and economic trends
- Ensure loan policies, procedures and guidelines are developed and implemented to meet regulatory and strategic goals and objectives
- Identifies areas of growth and evaluates new market potential to implement products and services to meet organizational goals and Collaborate with product, engineering, and mortgage tech teams to optimize systems to automate and streamline workflows
- Responsible for assisting third party audits of mortgage quality
- Ensure all NMLS certification requirements are met and maintained
- Complied with established internal controls and policies.
- Conducted monthly inventories of raw materials and components on work floor.
- Prepared and recommended long-range plans for development of group personnel.
- Established and administered annual budget with controls to prevent overages, minimize burn rate and support sustainability objectives.
VP & Director, Mortgage Originations
Spencer Savings Bank
01.1993 - 07.2022
- Act as senior-level resource for all staff and answer procedural, product, or systemic questions as it arise
- Identify process optimization opportunities
- Hire, train, and manage underwriting staff
- Act as escalated point of contact for problem resolution
- Ability to work independently and handle multiple priorities under stringent timelines
- Accomplished multiple tasks within established timeframes.
- Maximized performance by monitoring daily activities and mentoring team members.
- Evaluated employees' strengths and assigned tasks based upon experience and training.
- Delivered feedback to decision-makers regarding employee performance and training needs.
- Raised performance in areas of sales, management and operations by identifying and targeting areas in need of improvement.
- Collaborated with executive management to develop strategic initiatives and long term goals.
- Built high-performance teams through effective recruitment practices focused on competency alignment coupled with ongoing performance management processes.
- Spearheaded organizational restructuring initiatives, streamlining operations and reducing overhead costs (combining Mortgage originations and Consumer Credit groups).
- Identified opportunities to improve business process flows and productivity.
- Increased company growth through collaboration with sales and marketing departments.
- Managed financial planning and budgeting processes, ensuring fiscal responsibility and maximizing return on investments.
First Vice-President/ Residential Lending
Valley Savings Bank
11.1991 - 01.1993
- Managed both Residential and Consumer lending functions of the bank, as well as the secondary lending oversight for the bank.
- Served on various committees, i.e. CRA, Management, Loan Review, Compliance and Appraisal, and also held the position of CRA Officer.
- Supervised a group of twelve professionals, which included a team of sales representatives.
- Approval Authority granted of $250,000
- The majority of my lending emphasis was in purchase money and refinance residential mortgages, as well as construction lending.
- Served as the Corporate Secretary for the banks joint venture construction bankcorp.
Assistant Vice President/ Consumer Lending
Valley Savings Bank
01.1980 - 01.1985
- Responsible for creating and implementing lending policy for the Consumer loan division.
- Collaborated with servicing in all computer conversions regarding consumer lending.
- Serviced existing portfolio and managed four additional professionals.
- Credit Authority of $100,000 secured.
- Wrote and administered whole and Term Life insurance tied to portfolio, as well as private coverage. This was done thru the bank sub corporation.
Assistant Branch Manager (HQ)/Retail Banking
Valley Savings Bank
01.1972 - 01.1985
- Supervised, trained and evaluated teller staff to help improve retail banking skills
- Generated various retail consolidation reports and interfaced with the public directly
- Responded to customer concerns, working with manager to significantly raise customer satisfaction ratings.
- Assisted in achieving branch sales goals by identifying potential cross-selling opportunities and promoting bank products and services.
Education
No Degree -
Bergen Community College
Paramus, NJ06.1974
Skills
- Residential mortgage lending regulations
- Mortgage lending requirements
- Mortgage lending
- Home Equity lending
- Proficient In Microsoft Office
- Written And Verbal Communication
- Managerial Experience
Certification
New Jersey State Notary
NMLS Certified
Languages
English
Full Professional
Timeline
SVP/Director of Home Finance
Spencer Savings Bank
07.2022 - Current
VP & Director, Mortgage Originations
Spencer Savings Bank
01.1993 - 07.2022
First Vice-President/ Residential Lending
Valley Savings Bank
11.1991 - 01.1993
Assistant Vice President/ Consumer Lending
Valley Savings Bank
01.1980 - 01.1985
Assistant Branch Manager (HQ)/Retail Banking
Valley Savings Bank
01.1972 - 01.1985
No Degree -
Bergen Community College
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