Mortgage Underwriting Manager

1st Alliance Lending, LLC
East Hartford
Oct 13, 2016
Oct 21, 2016
Employer Type
Direct Employer
Employment Type
Full Time
Job Description:

Position Summary The Underwriting Manager is responsible for overseeing all aspects of functions related to the analysis, funding and acquisition of residential mortgage loans. The Underwriting Manager will need to be able to handle high volume levels and make sure their team meets the required productivity standards. This individual must possess knowledge of the loan process with various types of mortgage documents and investor requirements. In addition, s/he must have strong organizational and accuracy skills with the ability to prioritize assignments and have the ability to work in a team environment. This position reports to VP of Operations Essential Duties and Responsibilities Demonstrate professional oral and written communication skills. Demonstrate ability to work effectively, accurately, with great attention to detail. Demonstrate strong problem solving skills and ability to determine effective solutions. Demonstrate thorough working knowledge of FHA underwriting guidelines. Demonstrate thorough working knowledge of Fannie/Freddie underwriting guidelines. Demonstrate thorough working knowledge of VA underwriting guidelines. Review and evaluate information on mortgage loans according to FHA guidelines. Assess loan attributes and documentation for soundness and accuracy. Review and evaluate loan files for risk mitigation. Recommend alternative loan structuring. Verify case file data, including findings and calculations to determine loan compliance. Request additional information pertaining to specific loans as necessary. Assembles approval documents in loan file and submits back to mortgage loan office. Records loan denials, specifying investor or guidelines and basis for denial. Has experience managing an underwriting department of 6 or more people Has experience with starting/implementing new loan programs Has been able to integrate, and train new staff as part of a growing department Has shown an ability to manage a team to meet required daily/monthly production standards. Manage the workflow of all files currently in underwriting to ensure that company expectations are met regarding turn times Perform the underwriting of files submitted to the department as the need arises Keep informed of any mortgagee letters or other updates from FHA and communicate any changes in policy to members of the underwriting department Provide second level review of any files recommended for decline Review and evaluate productivity and efficiency of each underwriter in the department and conduct employee reviews Review, evaluate, document and provide written response to the Post Endorsement Technical Reviews issued by HUD for the entire department Create, revise and communicate program overlays to current FHA products Create, revise and communicate company income calculation guidelines Communicate effectively with Production, Processing and Post Closing to resolve any issues with efficiency, accuracy or workflow Participate in regularly scheduled managers meetings with other department managers Responsible for the hiring of new DE Underwriters and for the termination of current DE Underwriters in the department Performs such other related tasks or duties as 1st Alliance may assign in its discretion. Educational Requirements Must possess current FHA DE Certification and maintain such certification on an ongoing basis Must have a five year minimum DE underwriting experience Must be at least a college graduate Language Skills Must have the ability to read and interpret documents, and have the ability to speak, understand, and communicate well with customers and personnel. Competencies Must have the ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Must have the ability to deal with problems involving several concrete variables in standardized situations. Must have the ability to exhibit sound judgment and make independent decisions. Must have the ability to observe safety and security procedures and use equipment and materials properly. Must have the ability to plan and organize work activities and use time efficiently and develop realistic action plans. Must have the ability to work independently and in a group environment. Other Skills and Abilities Must be able to use current software package such as Microsoft Word and Excel. Must be to send and receive email using Microsoft Outlook. Must be able to use general office equipment such as copiers, scanners, and personal computers. Physical Demands The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Individuals may need to sit for long periods at a time, or stand as needed. May require walking primarily on level surface for periodic periods throughout the day. Reaching above shoulder heights, below the waist or lifting as required to file documents or store materials throughout the work day. Proper lifting techniques required. May include lifting up to 25 pounds for files and computer paper on occasion. Work Environment The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. For the most part ambient room temperatures, lighting, and traditional office equipment as found in a typical office environment.