Mortgage Loan Underwriter Senior

MORTGAGE LOAN UNDERWRITER SENIOR

WHAT IS THE OPPORTUNITY?

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 decisioning the requests with the goal of achieving the optimal quality asset for the bank while satisfying the needs of borrower. The Underwriter III is also responsible for LLCs along with other complex borrower types.

The Underwriter III works within established lending authorities and guidelines, with complex or unusual situations escalated to the next highest authority level for resolution. This includes mentoring and training of Underwriters I and II including second level reviews.

What you will do

• 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:

• Performs 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 the request will be repaid

• 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 his/her lending authority. If deal is outside of lending 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

• Client Satisfaction

• Promotes 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 RLC’s are updated on the status of loans

• Interacts and communicates daily with all levels as required 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 his/her own loans; assisting Underwriters I and II with resolutions

• Supports and contributes to the quality and customer satisfaction goals of the bank

• Productivity

• 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

• Mentor and train Underwriters I and II

• 2nd level review of Underwriters I and IIs’ work

• Performs other duties as assigned by Management, including participation in projects, process improvement initiatives, etc.

Must-Have*

• Minimum 7 years of experience as an Underwriter in a financial services or mortgage banking environment required.

• Minimum 7 years of experience in jumbo and super jumbo underwriting to investor or organization’s guidelines required

• Minimum 7 years of experience with state and federal lending regulations (i.e., Ability to Repay (ATR), RESPA, Reg B, Reg O, Reg Z, Fair Lending, etc.).

Skills and Knowledge

• Bachelor’s degree in Business, Finance or Economics or related discipline with 10 or more years of experience in a mortgage banking environment required

• Familiar with FNMA/FHLMC guidelines

• Computer literate with experience using Microsoft applications with mortgage industry standard software,…