Senior Underwriter

General Summary

• The Senior Underwriter reviews and underwrites mortgage files, inclusive of FHA, VA, USDA, Jumbo and conventional loans, to underwriting
• guidelines and will identify, analyze, and balance transactional, borrower, and property-related risks and offsets to arrive at a decision. The Senior
• Underwriter will be assigned an approved credit authority based on designations and will review loans within their credit authority. The Senior
• Underwriter also assists other team members providing consistency in credit quality and decisions, process flow, customer service and risk control
• as well as timely and accurate decisions to help meet production goals and perform within department audit standards.

Duties and Responsibilities

The primary job duties and responsibilities of this position include but are not limited to:

Prioritize, receive & review loan file packages for accuracy and completeness, according to the guidelines established by the Envoy, Fannie Mae, Investors, and Federal/State Regulations within 48 hours of receipt or the current posted SLA for the applicable transaction

Review all documentation submitted as part of the mortgage application process to validate completeness and accuracy

Advise origination staff on underwriting questions and loan salability, and work to achieve closing deadlines

Examine and analyze borrower employment information, credit strength, property characteristics, assets, liabilities, income and debt and other information pertinent to the credit decision, on each mortgage application

Evaluate and review appraisal reports and collateral issues related to the subject property to determine property meets required guidelines

Upload and file applicable documents into Imaging system

Order mortgage insurance; all required fraud guard tools

Recalculate & re-verify supporting documentation and complete audit checklists before submitting for UW 2nd level review, as applicable

Advise if any underwriting problems and recommend corrective action to loan production personnel impacting Pre-Approval decision

Communicate with appropriate parties, both verbally and in writing, regarding the loan decision and requirements

Review final conditions and approve or reject conditions as applicable, within prescribed authority, notifying branch personnel of status

Review loans for second signature when credit authority level allows

Consult with the Processing to ensure all underwriting conditions are met prior to issuing Clear to Close Approval or when declining a Loan

Utilize Automated Underwriting Systems (AUS) such as Desktop Underwriter (DU) and Loan Prospector (LP) and Guaranteed Underwriting System (GUS) to assist in the rendering of the loan decision

Remain informed of financial institution operating policies and procedures and banking regulations, state and federal

Demonstrate a clear understanding of the current RESPA laws and guidelines

Responsible for retaining and applying changes in loan underwriting requirements

Meet the required production standards as outlined by company policy

Function as a technical resource for underwriters and answer procedural, product, and system questions for all department personnel

Assist in management of workload for team members and ensure service levels are met

• •Partners with other department managers for process improvement opportunities that will improve quality and move loans more quickly
• through the pipeline

• •Participate in underwriting meetings to ensure understanding of changes to both underwriting guidelines and procedures
• This position may require occasional overtime and travel

Additional duties as assigned

THIS JOB DESCRIPTION IS NOT INTENDED TO BE ALL-INCLUSIVE. THE INCUMBENT WILL ALSO PERFORM OTHER REASONABLY RELATED BUSINESS DUTIES AS ASSIGNED BY MANAGEMENT.

Qualifications

Listed below are the minimum qualifications required to successfully perform this role. These qualifications are necessary for someone to be considered for this position.

Qualifications include:

High School Diploma or equivalent, required, with continuing education in mortgage banking and/or finance, a plus

7+ years of mortgage banking experience, with at least 3 years Underwriting experience preferred

Working knowledge of VA, Conventional, FHA, USDA, Bond, Jumbo, 203k loans, complex tax returns

Active DE, LAPP, SAR and USDA designations as required in designated markets, preferred

Must have excellent customer service skills, able to work in a team environment

Proficiency with Microsoft Office, including Word, Excel, and Outlook are required

Proficiency with Loan Origination Systems (LOS) required, Encompass experience preferred

Proficiency with Desktop Underwriter and Loan Prospector and GUS preferred

Analytical with good attention to detail

Able to make accurate and timely decisions using good judgment and able to work independently

Ability to review documents and spot inconsistencies and errors

Strong math skills and the ability to accurately calculate income in accordance with standard industry practice

Ability to review appraisals, assess accurate and appropriate data, and determine collateral acceptability

Ability to review guidelines, memos, manuals; absorb and comprehend information; incorporate changing guidelines into everyday work

Excellent verbal and written communication skills required

Ability to work within a fast-paced environment that often demands multiple tasks in a short time frame

Position may work from home or at regional center locations

Physical Requirements

The employee must occasionally lift and/or move up to 25 pounds

Specific vision abilities required by this job include close vision

While performing the duties of this job, the employee is regularly required to sit, use hands to finger, handle, or feel; reach with hands and arms; and talk or hear

The employee is occasionally required to stand; walk; climb or balance and stoop, kneel, crouch or crawl

We are an equal opportunity employer and value diversity. All employment is decided on the basis of qualifications, merit and business need. We are committed to creating an inclusive environment for all employees.