With approximately 1,000 professionals employed worldwide, the company provides its lender clients operating in the mortgage and specialty finance markets with access to capital, secondary markets solutions and fulfillment services. Company has offices in Charlotte, Denver, Los Angeles, New Yok, Manila, Philippines, Saint Paul and Tampa.
The Underwriting Manager is primarily responsible for establishing the company’s underwriting practice, including the creation of operating strategies, the hiring of underwriting staff, the establishment of standards, policies and procedures, and the definition of service level agreements and performance reporting.
Once operational, the Underwriting Manager will lead the staff in ensuring the prudent underwriting of US conventional conforming, non-conforming and Federal Housing Authority/Veterans Affairs (FHA/VA) loans in accordance with company, agency and investor guidelines.
Duties and Responsibilities:
1. Establish the company’s underwriting practice, including:
a. the creation of operating strategies;
b. the hiring of underwriting staff;
c. the establishment of standards, policies and procedures; and
d. the definition of service level agreements and performance reporting;
2. Utilize knowledge of the mortgage industry, real estate market trends and relevant loan performance data in the evaluation of risks;
3. Coordinate with other departments in designing, developing, implementing, monitoring and maintaining company products, programs, initiatives, policies, procedures and guidelines with expertise;
4. Supervise, train, review and motivate Underwriters and underwriting staff;
5. Personally underwrite loans in accordance with company underwriting practices and procedures;
6. Maintain underwriter productivity level as required by service level agreements;
7. Maintain integrity of data in the Loan Origination System;
8. Answer general guideline interpretations and questions of processors, brokers and account executives on specific loan files;
9. Act as the primary contact person regarding underwriting issues;
10. Provide input and participate in the development of underwriting best practices;
11. Assist the sales force in developing and presenting Broker training materials and presentations;
12. Evaluate performance trends and recommend changes to underwriting policies;
13. Support the development, implementation and use of systematic solutions to increase underwriting efficiency and accuracy;
14. Prepare and distribute comprehensive communications by managing memoranda, bulletins, announcements and guideline releases to ensure consistency and promote the sharing of best practices;
15. Review closed loans to ensure underwriting compliance to agency, investor and company guidelines;
16. Develop and maintain Program/Product Summaries;
17. Provide Federal Housing Administration (FHA) and Veterans Affairs (VA) training to branches and other underwriting teams;
18. Manage exceptions and reporting for the company; and
19. Manage relationships with the Risk Management Team, Corporate Lending Operations and Corporate Sales.
1. Bachelor’s Degree in a related field or any equivalent combination of training, education and experience that demonstrates the ability to perform the duties of the position;
2. Minimum of 10 years experience in the Mortgage business which should include 3 years of experience as an Underwriting or Risk Manager;
3. Minimum of 3 years in a Credit Risk/Policy Analysis-type position;
4. Minimum of 5 years experience in underwriting;
5. Extensive knowledge of the principles, concepts, strategies and practices used in risk management;
6. Strong understanding of the regulations and guidelines required to underwrite FHA/VA, FNMA/FHLMC and Jumbo products;
7. Excellent interpersonal and written and oral English communication skills;
8. Proficient with Office 360 applications (Excel, Word, Outlook, PowerPoint, SharePoint, and Teams).
9. With an FHA Direct Endorsement (DE) Designation, preferred but not required; and
10. With VA Lender Appraisal Processing Program (LAPP) Designation, preferred but not required.
Must be open to work on graveyard shift