Michael Rourke
Rexford,NY
Summary
Knowledgeable Manager with over 24 years of experience bringing team leadership, analytics, and problem-solving support to business operations. Dependable and detail-oriented to manage multiple tasks and priorities. Broad experience with natural relationship-building and leadership talents.
Overview
26
26
years of professional experience
Work History
AVP of Mortgage Operations
Sunmark Credit Union
03.2021 - Current
- Manages All Secondary Market activities, including investor relationships, pricing and rates, product innovation, reviews and confirms all rate locks, extensions, revisions, and renegotiations
- Acts as the primary liaison between Sunmark and all correspondent investors, Fannie Mae and Freddie Mac, and Optimal Blue Secondary Services
- Hedge oversight
- Manages underwriters for mortgage and home equity
- Manages Mortgage Closing, Funding, Settlement, Post-close and Delivery
- Manages construction department, including builder and project review, and construction draw administration
- Leads the Secondary Market Committee for the credit union
- Founding member of the Sunmark Employee Recognition Committee
- Provides leadership and coaching, and administers regular employee performance reviews
- Works closely with the Quality Control Department to ensure compliance with Fannie Mae, FHLB, HUD, DFS and NCUA regulations in the most efficient manner
- Assists in managing the mortgage budget
- Maintains strong interpersonal relationships.
Manager of Mortgage Servicing and Secondary Market
CCFCU Funding, LLC d.b.a. Homeowners Advantage (via acquisition of MorPAC by CAP COM Federal Credit Union)
09.2010 - 03.2021
- Leading an enthusiastic team of service-oriented mortgage servicers
- Managing a servicing portfolio of > 11,500 loans for > $1,800,000,000
- Oversaw the delivery and sale of over $370,000,000 of loans sold to the Secondary Mortgage Market
- Maintenance and implementation of all servicing related compliance regulations (CFPB and NYS DFS)
- Managing all Investor Reporting responsibilities for Fannie Mae, Freddie Mac, as well as several partner credit union investors
- Hiring, training, motivation, and career development of all servicing and secondary market staff
- Coordination and management of all origination and loan sale activities with third party hedge firm
- Responsible for execution and oversight of all secondary market pricing strategies and procedures, including hedging, daily pricing, loan sales, rate lock commitments, settlements, and extension and renegotiation requests
- Responsible for all regulatory reporting to NMLS, NYS DFS, and MBFRF
- Reporting and analysis of all mortgage loan production to senior management
- Product and pricing development / maintenance
- Member of CAP COM's loan and deposit growth committee (analysis and recommendations for the entire organizations product lines)
- November 2019 Leadership Award recipient.
Secondary Market Analyst
CCFCU Funding, LLC d.b.a. Homeowners Advantage (via acquisition of MorPAC by CAP COM Federal Credit Union)
08.2010 - 07.2018
- Responsible for all aspects of Secondary Market activities including, but not limited to: Primary contact for all hedging activities
- Production and distribution of daily rate sheets to internal loan officers and to external network of credit union partners
- Analyze current mortgage backed securities market conditions and set or reprice rates accordingly
- Manage active pipeline to ensure secondary market standards are maintained, and loans are closed prior to rate lock expiration dates
- Take out commitments with investors for sale of closed mortgage loans
- Oversee the timely delivery of closed loans to investors for purchase
- Review of all investor purchase advices to ensure accuracy in final purchase price
- Review of daily hedge reports to ensure the company's financial position is protected in accordance with strategic hedging policy
- Make recommendations as needed to pricing strategy and product enhancements
- Confirmation of all rate lock, extension, and re-lock requests
- Review and keep updated on all secondary market and investor guidelines to ensure compliance and lender policies are adhered to
- All Investor reporting, including monthly, quarterly, and year end MBFRF, NMLS, VOSR, and VOOR reports; Fannie Mae and Freddie Mac monthly remittance, default, and payoff reporting; Internal rate lock, closed loans, and secondary market gain reporting
- Monthly budget analysis and forecasting
- New product development and existing product maintenance as needed
- Assist in training of Mortgage Loan Officers in new products as needed
- Assist with mortgage servicing as needed
- Responsible for annual investor recertifications, and new investor applications
- July-September 2014- principal participant in LOS conversion from Calyx Point to ML Lending QB.
Asst. V.P., Sales/Business Development Manager
MorPAC, Inc. d.b.a. Advantage Mortgage Services
09.2005 - 08.2010
- Recruiting, training, and management of retail mortgage loan originators
- Ensuring company sales goals are met
- Implemented training and reference program for all loan originators
- Seek out and implement wholesale lending products company wide
- Assist with pricing and placement of originated mortgage loans
- Development of marketing and advertising materials
- Maintaining corporate website
- Point of contact for solicitation and training of partner credit unions and referral sources
- Assist in organization of and conducting of semi-annual home buying seminars for members of partner credit unions
- Point of contact for outside vendors including wholesale lending reps, appraisers, and closing attorneys.
Sales/Business Development Manager
Albany Mortgage Group, Inc.
09.2000 - 09.2005
- Primary responsibilities included those listed above, in addition to: Opened, staffed, and maintained production of satellite origination offices throughout region
- Managed pipeline and work flow company-wide
- Assisted sales staff with setting and achieving of production goals
- Implemented training course for new recruits
- Assisted with all inter-office Information-Technology systems
- Review of all appraisals and title reports.
Member Services Representative
Community Resource Federal Credit Union
01.2000 - 09.2000
- Handled lending transactions from application to funding for home equity and consumer loan products
- Primary point of contact for all mortgage related commerce
- Worked directly with mortgage companies (primarily CUC or MorPAC) to assist members in obtaining home loans
- Assisted in opening and maintaining of member accounts.
Loan Officer
National Finance Corporation
02.1998 - 12.1998
- Telephone solicitation of prospective mortgage loan clients utilizing county clerk lead sheets
- Telephone originations of qualified mortgage loan customers.
Education
Maria College
01.1993
C.A. Bouton High School
01.1992
Skills
- Operational Leadership
- Strategic Planning
- Procedure Implementation
- Performance Improvement
- Operations Oversight
- Policy Development
- Business Planning
- Staff Management
- Operational Management
- Report Preparation
- Administrative Support
References
Provided Upon Request
References
References available upon request.
Timeline
AVP of Mortgage Operations
Sunmark Credit Union
03.2021 - Current
Manager of Mortgage Servicing and Secondary Market
CCFCU Funding, LLC d.b.a. Homeowners Advantage (via acquisition of MorPAC by CAP COM Federal Credit Union)
09.2010 - 03.2021
Secondary Market Analyst
CCFCU Funding, LLC d.b.a. Homeowners Advantage (via acquisition of MorPAC by CAP COM Federal Credit Union)
08.2010 - 07.2018
Asst. V.P., Sales/Business Development Manager
MorPAC, Inc. d.b.a. Advantage Mortgage Services
09.2005 - 08.2010
Sales/Business Development Manager
Albany Mortgage Group, Inc.
09.2000 - 09.2005
Member Services Representative
Community Resource Federal Credit Union
01.2000 - 09.2000
Loan Officer
National Finance Corporation
02.1998 - 12.1998
Maria College
C.A. Bouton High School
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