Full Job Description
Job Title: Mortgage Underwriter Team Lead
Location: In-office or Remote
Duration: Full Time
General Job Information
Reports to and collaborates with the Underwriting Manager to assess risks of prospective clients and determine the appropriate rate for the loan. The Underwriter will perform a wide range of duties related to the risk evaluation of clients by analyzing and compiling historical data and market conditions or trends. Must be able to collaborate with Loan Processors to provide information regarding the client and correspond effectively with clients for additional information. Must possess strong interpersonal and analytical skills.
Include but are not limited to:
- As the Underwriting Team Lead, you will be responsible for supporting the underwriting staff in their day to day requirements while ensuring service level agreements are being maintained.
- The Underwriting Team Lead provides solutions to loan-level escalations as requested by the underwriting staff. In addition, the Underwriting Team Lead is required to maintain a small pipeline of loan files while providing exceptional customer service.
- Ability to underwrite agency loans (conventional and government).
- Maintain an underwriting pipeline of new loans and resubmissions that meets standard service level agreements.
- Work with the underwriting team to maintain standard service level agreements.
- Monitor underwriter pipelines to ensure productivity.
- Provide mentoring and coaching to underwriting staff as required by management.
- Utilize problem-solving, judgement, knowledge and experience to effectively remedy loan level issues.
- Resolve underwriter escalations and escalate to management when necessary.
- Perform second level reviews as designated by Area Underwriting Manager.
- Perform a designated number of weekly spot checks as determined by management to evaluate and examine loan files to ensure accuracy, completeness and compliance with investor and agency guidelines.
- Present and escalate loan files to the loan committee when necessary based on Company guidelines.
- Review and Re-underwrite test case loans for underwriters in training to receive FHA, VA, and/or USDA certifications.
- Communicate effectively with operations and sales staff to maintain a high level of customer service via phone and email.
- Review files for final approval once all items are gathered by the Processor.
- Issue final approval uploading all necessary approval documentation into Company's software systems with appropriate signatures.
- Work with the post-closing department on any stipulations for closed files; communicate process and outcome to underwriters and management.
- Perform other related duties as assigned by management.
Knowledge, Skills, and Abilities:
- Direct Endorsement status from HUD and/or SAR authority from VA, experience with USDA a plus.
- Extensive Understanding of FHA, VA, and Conventional loan guidelines.
- Bachelor's Degree or equivalent combination of education and experience.
- 5+ years of recent Mortgage Underwriting Experience (FHA, VA, Conventional) with strong agency guideline knowledge.
- Strong working knowledge of ATR/QM requirements.
- Strong computer skills; proficient in Microsoft Word, Excel and Outlook.
- Encompass LOS experience a plus.
- Knowledge of compliance and disclosure requirements.
- Train new UWs and do second-level reviews.