What are the responsibilities and job description for the Mortgage Operations Manager - Precision Review position at Pennymac?
PENNYMAC:
At Pennymac, our people are the foundation of our success and at the heart of our dynamic work culture. Together, we work towards a unified goal of helping millions of Americans achieve aspirations of homeownership through the complete mortgage journey.
A Typical Day:
Team Leadership & Oversight
Benefits That Bring It Home: Whether you're looking for flexible benefits for today, setting up short-term goals for tomorrow, or planning for long-term success and retirement, Pennymac's benefits have you covered. Some key benefits include:
To learn more about our benefits visit: https://pennymacnews.page.link/benefits
For residents with state required benefit information, additional information can be found at: https://www.pennymac.com/additional-benefits-information
Compensation: Individual salary may vary based on multiple factors including specific role, geographic location / market data, and skills and experience as defined below:
Some roles may be eligible for performance-based compensation and/or stock-based incentives awarded to employees based on company and individual performance.
Salary: $65,000 - $100,000 Work Model: OFFICE
Pennymac (NYSE: PFSI) is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market.
At Pennymac, our people are the foundation of our success and at the heart of our dynamic work culture. Together, we work towards a unified goal of helping millions of Americans achieve aspirations of homeownership through the complete mortgage journey.
Position Summary:
The Operations Manager – Precision Review at PennyMac will lead and oversee a specialized team responsible for validating income and assets, managing escalations, ensuring compliance with investor guidelines, and maintaining adherence to service level agreements (SLAs). This role is accountable for operational performance, process improvement, and team development, driving efficiency and accuracy across the Precision Review function. The Operations Manager will serve as a key partner to leadership and cross-functional teams to ensure quality execution and continuous improvement.
Key Responsibilities:
The Operations Manager – Precision Review at PennyMac will lead and oversee a specialized team responsible for validating income and assets, managing escalations, ensuring compliance with investor guidelines, and maintaining adherence to service level agreements (SLAs). This role is accountable for operational performance, process improvement, and team development, driving efficiency and accuracy across the Precision Review function. The Operations Manager will serve as a key partner to leadership and cross-functional teams to ensure quality execution and continuous improvement.
Key Responsibilities:
Team Leadership & Oversight
- Directly manage and support the Precision Review team, ensuring daily operations are executed accurately and within established SLAs.
- Provide coaching, development, and performance feedback to associates, fostering engagement and professional growth.
- Promote a collaborative, supportive environment that prioritizes quality, accountability, and continuous improvement.
Operational Excellence
- Oversee the review of mortgage loan files flagged for Change in Circumstance (CIC), policy exceptions, or significant data changes after initial approval.
- Ensure the team correctly applies investor guidelines (e.g., Fannie Mae, VA, FHA) to validate changes impacting loan amount, interest rate, LTV, appraisal, occupancy, and credit.
- Monitor operational metrics, track SLA adherence, and proactively address performance gaps.
- Partner with Underwriting, Credit Policy, and other internal stakeholders to resolve escalations and ensure consistency in decision-making.
Strategic & Process Management
- Identify opportunities to streamline workflows and implement process improvements that enhance efficiency, accuracy, and scalability.
- Develop and refine procedures to mitigate risk and maintain compliance with investor and regulatory requirements.
- Provide reporting and insights on volume, SLA performance, and quality trends to senior leadership.
- Lead initiatives that strengthen operational effectiveness and support organizational goals.
Cross-Functional Collaboration
- Serve as a subject matter expert and escalation point for complex loan scenarios.
- Collaborate with leadership across Fulfillment, Underwriting, and Credit to align practices and share best practices.
- Represent the Precision Review function in projects, audits, and strategic initiatives.
- Bachelor’s degree or equivalent work experience
- 5 years of relevant work experience
- 2 years of supervisory experience required
- Advance knowledge of Microsoft Office (Excel, Access, Word and PowerPoint)
- Mortgage experience required
As one of the top mortgage lenders in the country, Pennymac has helped over 4 million lifetime homeowners achieve and sustain their aspirations of home. Our vision is to be the most trusted partner for home. Together, 4,000 Pennymac team members across the country are guided by our core values: to be Accountable, Reliable and Ethical in all that we do. Pennymac is committed to conducting a business that makes positive contributions and promotes long-term sustainable growth and to fostering an equitable and inclusive environment, where all employees and customers feel valued, respected and supported.
Benefits That Bring It Home: Whether you're looking for flexible benefits for today, setting up short-term goals for tomorrow, or planning for long-term success and retirement, Pennymac's benefits have you covered. Some key benefits include:
- Comprehensive Medical, Dental, and Vision
- Paid Time Off Programs including vacation, holidays, illness, and parental leave
- Wellness Programs, Employee Recognition Programs, and onsite gyms and cafe style dining (select locations)
- Retirement benefits, life insurance, 401k match, and tuition reimbursement
- Philanthropy Programs including matching gifts, volunteer grants, charitable grants and corporate sponsorships
To learn more about our benefits visit: https://pennymacnews.page.link/benefits
For residents with state required benefit information, additional information can be found at: https://www.pennymac.com/additional-benefits-information
Compensation: Individual salary may vary based on multiple factors including specific role, geographic location / market data, and skills and experience as defined below:
- Lower in range - Building skills and experience in the role
- Mid-range - Experience and skills align with proficiency in the role
- Higher in range - Experience and skills add value above typical requirements of the role
Some roles may be eligible for performance-based compensation and/or stock-based incentives awarded to employees based on company and individual performance.
Salary: $65,000 - $100,000 Work Model: OFFICE
Salary : $65,000 - $100,000