Residential Mortgage Underwriting Manager

Residential Mortgage Underwriting Manager

Centreville Bank

The Mortgage Lending Underwriting Manager will manage the daily activities of the Bank’s residential underwriting team. Responsible to ensure a quality and timely process is maintained with the underwriting pipeline. This position will be responsible for providing a customer centric experience and will lead underwriters to perform duties with a collaborative style when working with the Borrowers, Loan Officers, Processors, Closers, and Servicing Department.

The Underwriting Manager will work in tandem with departmental managers in the development, implementation, maintenance, and communication of policies, procedures, and the monitoring of pipeline performance and will be responsible for reporting and compliance of the Underwriting team. This position will also assist their Manager with other matters as appropriate and will also be actively involved in some underwriting production when necessitated by volume.

Responsibilities also include reviewing, analyzing and approving residential loan applications including but not limited to, verifying income, assets, credit and collateral documents including self-employed personal and business tax returns. This position requires involvement in the review of various types of mortgage lending products (agency / jumbo conventional, portfolio conventional, FHA / VA / USDA, Mortgage Insurance). This position will also lend support to the underwriters on complex loan submissions and will be responsibility for training and expanding the skill sets of the underwriting team.

Lending authority to include conventional, government and jumbo loan programs on both Portfolio and saleable loan products up to credit authority limits that are established by the Bank. Excellent phone and communication skills and superior customer service to internal and external customers required. An exemplary customer service oriented attitude and the ability to work effectively in a team environment is essential.

• Underwrite 1st and 2nd lien conventional and jumbo mortgage loans including FHA, VA, and USDA for both Portfolio and Saleable loan products.
• Gather and research all pertinent information to support the credit decision including credit analysis, financial analysis, and collateral valuation through review of all appraisals. Implements fraud detection techniques in loan review process.
• Reviews residential loan application file to verify application data is complete and meets required standards, including but not limited to, type and amount of mortgage, borrower assets, liabilities, and length of employment. Reviews Automated Underwriting system conditions ensuring that the loan meets the eligibility and underwriting guidelines and all conditions for closing are met.
• Assures compliance with Bank’s credit policy, portfolio underwriting guidelines and/or investor guidelines. Reviews loan documentation and applicable ratios (i.e. debt ratios, loan-to-value). Reviews appraisals for industry standards and guideline requirements.
• Ensures that the required level of appraisal fieldwork has been completed, are of professional quality, and are prepared consistent with AUS requirements.
• Reviews flood guidelines and regulations and ensures proper flood insurance is in place when required.
• Issues loan decision with the ability to explain rationale behind decision. Has the ability to customize responses and recommendations to reflect the specific conditions which may apply to each loan based on investor requirements. Recommends alternative structuring, if necessary.
• Works with staff and co-workers as a team in analyzing and solving situations that may arise in the mortgage origination loan process. Provides support in answering questions and resolving problems for MLOs, Processors, Closers, Post Closers, and Servicing.
• Review and respond to QC reports and investor requests.
• Knowledge of emerging trends in lending affecting the organization including but not limited to, secondary market / compliance / regulatory lending criteria (FHLMC, Fannie Mae, HUD, VA, USDA, HMDA, CFPB). Ability to comply with all Federal and State Regulations and internal…