Chief Operating Officer

Role Summary

Job Title: Chief Operating Officer Location: Remote (in-office preferred - Meridian, ID) Reports to: Chief Executive 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

Who We Are 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.

Role Summary 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.

Responsibilities

• 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.
• Required Qualifications - Priority Order

Deep credit risk expertise (highest priority)

• 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.

Strong people management

• 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.

Deep agency knowledge

• 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.

Retail fulfillment and throughput background

• 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.

Compliance and audit experience

• 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 building and maintaining a strong compliance posture across origination operations.

Preferred Qualifications (Additive Strengths)

• AI/automation implementation experience in origination — a strong plus, and equally well covered through a systems hire or vendor partnership.
• Direct servicing operations experience — a valuable complement to the advisory and strategic input this role provides on servicing, though the core requirements stand on their own.
• Working knowledge of employment law and/or contract law — useful for navigating people-management decisions, vendor and agency agreements, and other contractual matters that intersect with this role.
• Familiarity with ESOP (Employee Stock Ownership Plan) structures — helpful given the potential for equity or profit-interest arrangements tied to this role and the broader organization.
• CFPB audit experience — a strong plus given the regulatory scrutiny facing IMBs, and complementary to the agency and compliance audit experience above.
• Broad product knowledge acumen — depth across conventional, government, and non-QM product types strengthens credit box strategy and supports informed conversations on product mix.
• PMR Core Values No matter your position or department, your primary responsibility at PMR is to embody our core values — Vision, Hustle, Grit, and Execute — in everything you do.
• Vision – Innovate / Cultivate: Leads with foresight and creativity, fostering innovation in loan programs, production processes, and team development. Encourages collaboration and continuous improvement that shapes PMR's future.
• Hustle – Speed / Excel: Embraces a sense of urgency and a results-driven mindset. Drives the team to move quickly, seize opportunities, and deliver outstanding service to clients and partners.
• Grit – Strength / Courage: Perseveres through challenges with resilience and determination. Leads with courage during change and sets the tone for consistent, principled performance.
• Execute – Implement / Achieve: Translates strategic goals into tangible outcomes. Holds the team accountable for precision, timeliness, and excellence in every stage of production.