Job Summary
As a Senior Underwriter you will manually underwrite mortgage loan transactions analyzing and verifying loan applications, evaluate risk and make loan eligibility decisions completing initial and final reviews. In this role you will ensure all documentation is compliant with relevant regulations including company and investor guidelines. You will work closely with our Junior Underwriters to assist in handling loan-level credit and compliance questions and issues, and assist in the preparation and dissemination of updated mortgage underwriting and compliance standards and procedures. Collaboration and communication with our internal staff (Jr Underwriters, Closers, Operations Leadership, etc.) is key throughout the review process to clear purchase/funding eligibility conditions.
Responsibilities
- Adopt the culture that contributes to an environment of teamwork and promotes a positive company image to our team members and clients
- Review and manually underwrite customer loans escalating unusual or complex cases to leadership where appropriate
- Review due diligence documents submitted to validate the borrower’s willingness and ability to repay the loan
- Analyze loan risk and request additional information as necessary
- Make loan eligibility decisions and approve or reject applications
- Review and specify loan conditions as necessary
- Ensure loans are underwritten and adhere to internal policy, procedures, guidelines, investor programs and regulatory requirements
- Document and efficiently communicate reasons for the approval/rejection of loans
- Review appraisal and/or site inspection reports
- Identify and assess AML and fraud risks
- Ability to manage pipeline to ensure SLA’s are met for initial and final condition reviews
- Mentor team members and share best practices
- Handle complex loans and support team with escalated issues
- Ability to complete responsibilities effectively and efficiently with minimal direction
- Manage daily tasks to ensure business needs are consistently met
Minimum Qualifications
- 5 years of experience underwriting in residential originations
- Strong attention to detail, strategic thinking, and solid decision-making ability
- Excellent written and verbal communication skills
- High-level knowledge of Microsoft Office products including Word, Excel, Outlook
Preferred Qualifications
- Most recent role being a Senior Underwriter, or an Underwriter with a higher authority level and scope of work
- Non-QM or Manual underwriting experience, not reliant on AUS
- Knowledge of Meridian Mortgage Link a plus
Compliance
- BSA Compliance – every employee is required to uphold the bank’s compliance with the Bank Security Act and anti-money laundering policies and procedures. Specific functions within Community Savings will take into consideration the awareness of unusual or suspicious activity that is relevant to the department.
- In addition to any other assigned training courses, online BSA and OFAC courses must be completed at least annually, as made available by the Training and/or Compliance Departments.
- Maintains comprehensive knowledge of the Bank Secrecy Act, Customer Identification Program, USA Patriot Act, OFAC, Fair Lending Act, RESPA-TILA, HOEPA, HMDA, Fact Act and others pertaining to the mortgage industry.