Mortgage Loan Underwriter Senior

MORTGAGE LOAN UNDERWRITER SENIOR

The role of the Underwriter III is to evaluate the credit risk against company standards and to determine the borrower's ability to repay a residential mortgage. The Underwriter III analyzes and interprets the most complex financial and non‑financial data, making decisions that achieve the optimal quality asset for the bank while satisfying borrower needs. The Underwriter III is also responsible for LLCs and other complex borrower types.

Working within established lending authorities and guidelines, the Underwriter III escalates complex or unusual situations to the next highest authority level for resolution and mentors and trains Underwriters I and II through second‑level reviews.

• Reviews the loan package received to ensure completeness, verifying that all supporting documents are included to make a credit decision per established policies.
• Identifies issues and recommends appropriate resolution within policy service level agreements.
• Analyzes and determines the financial capacity of the borrower’s ability to repay, including credit analysis, financial statement analysis, cash flow analysis, liquidity qualification and payment calculation spreads.
• Reviews for stability of residency and employment.
• Verifies income per established policy.
• Identifies any exceptions to current policies.
• Documents a reasonable conclusion mitigating any identified risks supporting repayment of the loan.
• Accurately sets and clears conditions.
• Interacts with RLC and Processor throughout the life cycle of the loan, providing information, updates and assistance as required.
• Updates system(s) with pertinent information and appropriate data as required.
• Renders a decision within lending authority; if outside authority, provides a recommended decision and submits for appropriate level signing authority.
• Originates appropriate client letters:
  Commitment, Counter‑Offer, Declination.
• Certifies and provides a final workbook to the Processor.
• Ensures compliance with bank and statutory/regulatory guidelines.
• Promotes client satisfaction and a team environment fostering a positive working environment.
• Functions as a collaborator and innovator to drive continuous improvement.
• Provides guidance and support to the RLC and Processor when required.
• Utilizes systems and tools to ensure that the RLCs are updated on the status of loans.
• Interacts and communicates daily with all levels to support business units, Processors, Funding/Doc Prep to ensure requirements are understood and met.
• Provides timely, complete and accurate response to inquiries.
• Handles all situations in a professional and ethical manner.
• Takes the lead in resolving problems for own loans; assists Underwriters I and II with resolutions.
• Supports and contributes to the quality and customer satisfaction goals of the bank.
• Ensures all goals and service level agreements (SLAs) are met.
• Tracks, logs and provides daily, weekly, monthly, quarterly reporting of production statistics as defined by management.
• Consistently meets quality control and data integrity standards.
• Effectively utilizes available systems, workflow and imaging tools.
• Mentors and trains Underwriters I and II.
• Second‑level review of Underwriters I and II’s work.
• Performs other duties as assigned by Management, including participation in projects, process improvement initiatives, etc.

• Minimum 7 years of experience as an Underwriter in a financial services or mortgage banking environment.
• Minimum 7 years of experience in jumbo and super jumbo underwriting to investor or organization’s guidelines.
• Minimum 7 years of experience with state and federal lending regulations (e.g., Ability To Repay, RESPA, Reg B, Reg O, Reg Z, Fair Lending, etc.).

• Bachelor’s degree in Business, Finance or Economics or related discipline with 10 or more years of experience in a mortgage banking environment.
• Familiar with FNMA/FHLMC guidelines.
• Computer literate with experience using Microsoft applications and mortgage industry standard software, preferably Inter Link E3 or Net Oxygen/Gallagher.
• Superior ability to communicate effectively in both verbal and written…