NOTICE OF VACANCY

THE EXECUTIVE DIRECTOR OF THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY INVITES APPLICATIONS FROM QUALIFIED CANDIDATES FOR THE FOLLOWING: 

Job Title:  Credit Policy Coordinator
Salary Range:  R12 ($71,546.77 - $100,684.90)
Division:  Single Family Programs
FL Status:  Exempt
Issue Date:  4/23/25
Closing Date:  5/8/25
Union Status:  Professional Bargaining Unit, Exempt
Employment Status:  Full time

JOB DESCRIPTION

Under supervision, the Credit Policy Coordinator is directly responsible for consumer credit policy and product guidelines for the mortgage loan products offered by the Single Family Division of NJHMFA. In this role the coordinator supports single family lending in the agency. This position manages current credit policy and product guidelines to identify strengths, weaknesses and market trends assisting with credit risk mitigation. Maintains responsibility for updating respective credit policy and product guidelines, drafting new and proposed guidelines/products, and ensuring published guidelines are accurate and reflective of the agency’s risk appetite. Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. While operating within NJHMFA’s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

JOB RESPONSIBILITIES

1. Effectively communicates and supports independent credit viewpoints to single family management, underwriting, product development, fair lending, legal, compliance and both internal and external stakeholders on respective consumer credit policy issues pertaining to loan risk. 

2. Able to identify risks and areas that require corrective action to assist with mitigating risks. 

3. Manages initiatives with business partners and stakeholders to ensure effective lending practices that satisfy credit administration, risk management, legal and regulatory compliance requirements. 

4. Creates, publishes, and maintains consumer credit policy and product guidelines, product exhibits, matrices, and supporting credit information. 

5. Evaluates potential credit policy and product opportunities, and recommends the development of new policies and guidelines or the modification of existing policy, procedures, programs, or products. 

6. Interprets and enforces credit policy and product guidelines across the division. 

7. Works directly with Agency QA / Audit Division and Single-Family Leadership to identify areas where Agency staff and participating lenders need additional coaching or tools to facilitate adherence to credit policy. 

8. Provides oversight for line of business procedures, internal and external scorecards and other credit processes.
 

9. Leads regular meetings with business to discuss and examine new or revised credit policy and product guideline updates, as well as emerging risks and opportunities.

10. Reviews all investor guideline updated and disseminates information to management and staff, including providing recommendations for implementation of needed updates. 

11. Assists in the underwriting process when required. 

12. Assists in evaluating and recommending waivers and exceptions as applicable. 

13. Performs other duties as assigned.

MINIMUM REQUIREMENTS

Education / Experience:

Four (4) year college degree with five (5) years of mortgage lending credit underwriting and/or credit policy experience, or an equivalent combination of both education and experience which meets the required knowledge, skills and abilities

Skills:

- Ability to perform individual credit guideline analysis.
- Strong knowledge of Fannie Mae, Freddie Mac, FHA, VA, and USDA residential lending guidelines.
- Excellent listening skills with ability to provide clarity and comprehension regarding business concerns.
- Organized thinker with collaborative working style.
- Excellent verbal, written communication and presentation skills including ability to deal with conflict and interact with all levels of the agency.
- Strong knowledge of mortgage loan documentation procedures.
- Excellent knowledge of mortgage underwriting procedures.
- Ability to build and maintain strong working relationships with key stakeholders.
- Intermediate skill level for Microsoft Word and PowerPoint and Microsoft Excel.
- Excellent critical thinking skills; logical thinker.
- Strong organization and time management skills, works efficiently.
- Keen attention to detail.
- Measured temperament – able to calmly work thru timeline, escalations, and errors.

Physical Demands: Non-physical

Working Conditions: General office environment

Certificates & Licenses Required:  A valid driver's license in the State in which the person resides is required only if the operation of a vehicle, rather than employee mobility is necessary to perform the essential duties of the position.

BENEFITS

NJHMFA provides a comprehensive benefit package which includes:
- Medical, prescription, dental, vision & long term disability
- FSA & HSA
- Public Service Loan Forgiveness and Tuition Reimbursement
- Public Employees' Retirement System (PERS)
- Deferred compensation plans
- Employee assistance services (EAS)
- State employee discounts program
- Paid personal, sick and vacation days
- Paid holidays
- Partial Telework

Residency in the State of New Jersey is required of all employees with an agency of the State in accordance with the New Jersey First Act, N.J.S.A. 52:14-7 (L. 2011, Chapter 70).  Employees must comply with the “New Jersey First Act” which requires employees hired after September 1, 2011 to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.

The NJHMFA is an Equal Opportunity Employer in compliance with all Federal, State and Local Regulations. NJHMFA provides equal employment opportunity to both individuals with veteran status and individuals with disabilities. 

Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.