Product Development Manager

Description

Position Summary 

The Product Development Manager is responsible for researching, evaluating, developing, and implementing mortgage products and financing programs that enhance HUNT Mortgage's competitiveness, expand lending opportunities, and support company growth. 

The position requires a comprehensive understanding of mortgage investor guidelines, agency and government lending programs, non-QM products, secondary market requirements, and emerging lending opportunities. 

The Product Development Manager will work closely with executive management, Sales, Underwriting, Secondary Marketing, Compliance, and Operations to identify market needs, evaluate investor offerings, and introduce products that are operationally feasible, financially sound, and compliant with applicable regulations. 

A primary objective is to ensure HUNT Mortgage offers a competitive and diversified product portfolio that meets borrower needs, creates additional opportunities for Mortgage Consultants, and supports profitable business growth. 

Key Responsibilities 

1. Mortgage Product Research & Development 

• Research and evaluate new mortgage products, lending programs, and financing opportunities. 
• Monitor product offerings from Fannie Mae, Freddie Mac, FHA, VA, USDA, and other lending sources. 
• Identify opportunities involving conventional, government, jumbo, non-QM, renovation, construction, adjustable-rate, and specialty financing products. 
• Evaluate competitor product offerings and identify gaps in HUNT Mortgage's existing portfolio. 
• Assess borrower needs, market demand, eligibility requirements, pricing competitiveness, and potential production opportunities. 
• Present recommendations for new products and program enhancements to executive management. 

2. Investor & Program Evaluation 

• Research existing and prospective investor product offerings, eligibility requirements, and underwriting guidelines. 
• Compare investor programs to determine appropriate options for specific borrower scenarios and business opportunities. 
• Evaluate investor overlays, credit requirements, documentation standards, property eligibility, and other program restrictions. 
• Work with Secondary Marketing to assess investor pricing, execution, delivery requirements, and potential profitability. 
• Assist with evaluating and onboarding new investor relationships when appropriate. Maintain current knowledge of investor announcements and product guideline changes. 

3. Product Implementation & Coordination 

• Lead and coordinate the implementation of approved mortgage products and programs. Work collaboratively with Underwriting, Processing, Closing, Secondary Marketing, Compliance, and Technology to ensure operational readiness. 
• Develop product implementation plans, including timelines, responsibilities, procedures, and training requirements. 
• Coordinate the development of product guidelines, matrices, reference materials, and internal procedures. 
• Assist with loan origination system configuration and product testing in collaboration with appropriate departments. 
• Identify operational challenges and resolve outstanding issues before product launch. Ensure new products are appropriately approved and supported by company policies and investor requirements. 

4. Sales Support & Product Education 

• Serve as a product resource for Mortgage Consultants and sales leadership. 
• Assist in evaluating complex borrower scenarios and identifying appropriate financing alternatives. 
• Provide guidance regarding product eligibility, investor requirements, and available financing solutions, in coordination with Underwriting. 
• Develop and deliver training on new and existing mortgage programs. 
• Prepare product comparisons, program summaries, and educational materials. 
• Communicate product enhancements, investor changes, and new opportunities to the sales organization. 
• Collaborate with Marketing to develop accurate promotional materials for new financing programs. 

5. Product Performance & Portfolio Management 

• Monitor the utilization, production volume, profitability, and effectiveness of mortgage products. 
• Evaluate whether new programs are achieving anticipated business objectives. Identify underutilized products and opportunities to increase adoption.
•  Review operational challenges, investor issues, and loan performance trends. Recommend modifications, enhancements, or discontinuation of programs when appropriate. 
• Maintain an organized and current inventory of available mortgage products and investor options. 

6. Compliance & Risk Management 

• Coordinate with Compliance and Underwriting to ensure products meet applicable federal and state regulations. 
• Evaluate investor eligibility, underwriting requirements, disclosure considerations, and potential operational risks. 
• Ensure appropriate product documentation, training, and internal controls are established before implementation. 
• Monitor regulatory and investor changes that may affect existing product offerings. 
• Escalate potential compliance, repurchase, or investor delivery concerns to appropriate management. 

7. Special Projects & Strategic Initiatives

• Participate in strategic initiatives designed to expand HUNT Mortgage's lending capabilities. 
• Research emerging mor tgage trends, technology developments, and market opportunities.
•  Assist executive management with special product-related assignments. 
• Prepare product proposals, business cases, comparative analyses, and management presentations. 
• Collaborate with other departments to support companywide growth and operational improvement. 

Requirements

Required Qualifications 

• Extensive knowledge of residential mortgage products, underwriting guidelines, and investor requirements. 
• Strong understanding of conventional, FHA, VA, USDA, and specialty mortgage financing. 
• Experience in mortgage product development, underwriting, secondary marketing, capital markets, or related mortgage banking functions. 
• Familiarity with non-QM, jumbo, renovation, construction, and other alternative lending programs preferred. 
• Strong analytical and problem-solving abilities. 
• Ability to interpret complex investor guidelines and translate them into practical business solutions. 
• Excellent organizational, communication, presentation, and project management skills. 
• Strong working knowledge of mortgage loan origination systems and related technology. 
• Ability to collaborate effectively across Sales, Operations, Secondary Marketing, Underwriting, and Compliance. 

Performance Expectations 

Performance will be measured through: 

• Successful development and implementation of approved mortgage products. 
• Expansion of competitive and appropriate financing options. 
• Product utilization and contribution to mortgage production growth. 
• Quality and accuracy of investor and product evaluations. 
• Timely and effective product launches. 
• Effectiveness of product training and communication. 
• Product profitability and operational performance. 
• Compliance with investor and regulatory requirements. 
• Effective collaboration with Sales, Operations, and executive management. 

Position Objective 

The Product Development Manager is expected to position HUNT Mortgage as a competitive and innovative mortgage lender by identifying financing opportunities, expanding product availability, and ensuring the organization has the programs, knowledge, and operational capabilities necessary to meet changing borrower and market needs.