Chief Operating Officer

Direct Reports: VP of Underwriting, Operations Manager

Employment Type: Full-Time

Scope: Owns production operations end-to-end (origination, underwriting, fulfillment) and provides advisory input into servicing strategy. Servicing and secondary/capital markets operations are owned by their respective functions

Retail-focused independent mortgage bank (IMB) originating $2B+ in annual volume, with a growing servicing portfolio (~$400M UPB) and an all-agency (Fannie Mae, Freddie Mac, FHA, VA) approval footprint. The organization runs lean and flat by design - this hire replaces layers of middle management with one senior operator who can own credit risk, run people, and fix throughput directly.

This is a true COO-level mandate, distinct in scope and authority from a VP Operations role. The scope - credit risk ownership, direct agency relationships, systems/process strategy including AI implementation, and direct management of underwriting and operations leadership - calls for full executive-level authority and accountability.

The COO will work closely with the CEO, executive team, and department heads to enhance operational efficiency, improve service quality, and drive growth.

• Own credit risk policy and credit box strategy - author, defend, and evolve the credit box as an active policy owner.
• Manage the VP of Underwriting and Operations Manager - set performance targets, build a culture of accountability, and coach and develop both leaders directly.
• Own agency relationships and escalations - serve as the direct point of contact with Fannie Mae, Freddie Mac, FHA, and VA on overlays, QC findings, and repurchase demands.
• Own systems and process strategy for origination, including the AI implementation roadmap - set the strategy and priorities, drawing on vendors or a systems hire for technical execution.
• Advise on servicing strategy from the production side - provide strategic input on how credit box and product-mix decisions affect MSR value and retention, keeping production operations as the core focus.
• Retain hands-on fallback capability - step in personally to work a stuck file or a broken workflow when direct reports need support, reflecting a hands‑on leadership style.

• Has personally authored and defended credit box and credit policy design as a true policy owner, taking ownership of authorship rather than enforcement alone.
• Has personally negotiated with agencies on overlay treatment, QC escalations, or repurchase demands, leading these conversations directly rather than delegating them.
• Understands how credit decisions flow through to servicing and MSR performance.
• Has directly managed underwriting and operations leaders in a flat, accountability-heavy culture, maintaining a direct span of control rather than managing through layers of middle management.
• Sets clear targets, holds people to them, and coaches and develops direct reports.
• Steps in personally to work a file or a process when needed, balancing hands‑on involvement with team autonomy so the team keeps moving rather than becoming dependent.

• Fluent in Fannie Mae DU, Freddie Mac LPA overlays, FHA TOTAL Scorecard, and VA automated underwriting.
• Understands how overlays get built into underwriting policy through direct, practical application, going beyond theoretical or classroom knowledge.

• Has personally owned pull-through rate, cycle time, and underwriter capacity planning as direct, individual KPIs, with hands‑on accountability rather than secondhand oversight.
• Built this experience at a $1.5B-$5B retail-focused IMB, in an environment distinct from depository banking or correspondent-heavy lending models.

• Experience serving as a key point of contact through Fannie Mae and Freddie Mac audits, from information requests through findings and remediation.
• Experience with Ginnie Mae oversight and audits, including the reporting and compliance expectations tied to Ginnie Mae issuer status.
• Extensive experience with compliance oversight more broadly, with a track record of…