Spring EQ is a national home equity lender providing flexible and tailored financing solutions directly to consumers with a national network of experienced brokers and partners. Since its founding in 2016, Spring EQ is among the fastest growing and highest-rated home equity financing partners in the United States. Spring EQ offers a broad range of home equity products and delivers a simple and streamlined process that results in faster funding, trustworthy loans, and less frustration for consumers today. To learn more about Spring EQ, visit www.springeq.com.

At Spring EQ, it is our mission to empower homeowners and buyers to achieve and maximize the value of homeownership in a simple, fast, and ethical manner.  Our values are to

• Be kind and treat all people – teammates, customers, and vendors – with respect and consideration  
• Be adaptable and embrace change
• Be accountable and take responsibility and deliver the effort to fully complete the task
• Be better and strive for continuous improvement in ourselves, our team, and the company for our customers
• Be part of the solution and solve problems, find the answers, and collaborate
• Work hard, have fun, and get things done

The VP, Credit Risk, is responsible for leadership and oversight of credit risk and credit policy that is associated with Spring EQ’s lending activities.  They will work closely with various team members to develop, communicate, and create action plans regarding Spring EQ’s manufacturing quality and product development to ensure the creditworthiness of borrowers and the overall credit portfolio risk aligns with enterprise goals.

Supervisory Responsibilities:

• Director, Credit Risk
• Manager, Quality Control

Duties/Responsibilities:

• Provide leadership and direction related to credit risk loan review process that includes but not limited to Pre/Post close Quality reviews, Misrepresentation referrals, and early pay default loan reviews
• Collaborate between Credit Risk, Quality Control, and Post Closing to create consistent process and measurements of loan review results.
• Effectively communicate results to senior management to identify trends from loan reviews, manage any appropriate action items, and measure improvements against action items
• Act as an escalation point for complex credit analysis to assist when audit findings and business channel feedback is not in agreement.
• Organize regular meetings with business channels to review manufacturing quality results and collaborate specific action plans and measurement of results
• Participate as a subject matter expert in product development to ensure product guides are communicated to all internal and external partners as appropriate in a timely manner.
• Provide disposition of all single loan credit exceptions
• Collaborate with the Business Intelligence team to implement regular portfolio monitoring and reporting to identify any changes in attribute trends that could present a higher risk to the enterprise.
• Direct & lead all internal Spring EQ resources reporting into this role to include hiring, training, performance management to ensure effective & efficient execution of assigned responsibilities.
• Keep up to date with changes in regulatory requirements, investor guidelines, and industry’s best practices to ensure the QC process and credit risk monitoring is current and effective.
• Participate in product development including Non-QM Subject matter expert to provide recommendations to product features to mitigate risk.
• Efficiently and effectively address any other assigned special projects or activities.

• In-depth knowledge of Underwriting best practices, mortgage products, services, and regulatory guidelines (e.g., RESPA, TILA, TRID, HMDA, CFPB).
• Experience with quality control software and auditing tools, as well as document management systems.
• Extensive knowledge of Non-QM and non-agency credit requirements and underwriting guidelines
• Strong analytical skills to understand key drivers of credit performance based on associated loan attributes
• Advanced proficiency in excel, PowerPoint, and data analysis
• Strong leadership skills with experience managing teams and providing direction, training, and coaching.
• Excellent analytical skills, with the ability to review complex loan files and identify issues or discrepancies.
• Strong written and verbal communication skills to interact with senior management, team members, auditors, and regulatory bodies.
• Ability to manage multiple priorities and meet deadlines in a fast-paced, high-pressure environment.

Education and Experience:

• Bachelor’s degree in Business, Finance, or a related field (or equivalent work experience).
• 5+ years of experience in mortgage credit risk, quality control, mortgage underwriting, or a similar role, with at least 3 years in a leadership position
• Strong working knowledge of Non-QM lending guidelines and practices

Physical & Mental Abilities Requirements: 

Physical Abilities:

• Ability to sit for extended periods while reviewing loan files, working on a computer, or participating in meetings.
• Frequent use of office equipment such as computers, phones, and filing systems.
• Ability to lift and carry light materials, such as loan files, reports, or office supplies (typically under 10 lbs).
• Ability to participate in occasional meetings or training sessions, which may require some travel.

Mental Abilities:

• Strong attention to detail to ensure that audits and loan files are thoroughly checked for compliance and accuracy.
• Ability to analyze complex loan documentation, regulatory requirements, and investor guidelines to identify potential issues or non-compliance.
• Strong problem-solving skills to address issues identified during audits and to develop corrective actions.
• Ability to prioritize tasks and manage multiple deadlines in a fast-paced work environment.
• Critical thinking and decision-making abilities to assess risks, resolve issues, and make recommendations for process improvements.
• Ability to maintain composure and professionalism under pressure, especially when managing audits or responding to regulatory inquiries.
• Strong communication skills for providing feedback to staff, interacting with senior management, and communicating with external regulators or auditors.

Accommodation is available to enable individuals with disabilities to perform essential job functions, as required by law.

Benefits

• Medical Insurance
• Dental Insurance
• Vision Insurance
• Life & AD&D Insurance
• Disability Insurance
• Health Savings Account
• Flexible Spending Account
• Dependent Care Spending Account
• Employee Assistance Program
• Commuter Benefits
• 401k Savings Plan 
• Credit Union Membership
• Company-paid Holidays
• Paid Time Off (PTO) Program 

Spring EQ is an Equal Opportunity Employer. We make all employment decisions based on merit and business needs.  If you require a reasonable accommodation at any stage of the hiring or employment process, please contact hr@springeq.com