Collateral Underwriting Manager

CrossCountry Mortgage, LLC•Cleveland, OH

About The Position

The Collateral Underwriting Manager is responsible for leading and mentoring a team of Collateral Underwriters. The Collateral Underwriting Manager handles loan level escalations and general questions from the Collateral Underwriting Team Lead to ensure the conditions and exceptions are resolved in a timely manner. This position ensures all department standard operating procedures are up to date and is involved in department projects.

Requirements

Minimum 5 years’ underwriting experience with exposure to both manual and automated underwriting environments.
Minimum 3 years’ experience in a Team Lead or other leadership role.
Knowledge of underwriting guidelines along with exposure to investor conditions and exceptions.
Knowledge of transaction components that indicate a potential for fraud.
Knowledge of regulatory rules and regulations.
Excellent communication, customer service, and problem solving skills.
Excellent analytical and organizational skills.
Excellent prioritization and time management skills.
Proficient in Microsoft Office Suite.

Responsibilities

Handle the day-to-day management of the Collateral Underwriting team including employee development and performance coaching.
Serve as the second level escalation point for the Collateral Underwriting team to assist with loan level decisions on various topics.
Monitor investor posted turn times and follow up as necessary to ensure files are reviewed within their published turn times.
Monitor daily investor reporting to identify loans that have been suspended for purchase and collaborate with department leaders to load balance files as needed within the teams.
Assist with onboarding and training new hires and existing employees to be upskilled on a variety of topics as needed.
Responsible for adequate staffing of the Collateral Underwriting team including identifying additional positions needed, acting as the hiring manager.
Act as subject matter expert for the department by attending meetings with internal partners on new projects and process improvements and perform testing as needed; identify and implement process improvements as needed.
Monitor time of loans on the warehouse lines and advise senior management of those at potential risk for curtailment from the warehouse; provide updates on the status of assigned loans with investors to senior management as needed.
Monitor a pipeline to ensure all loans shipped are either conditioned or purchased in a timely manner.
Ensure team meets set monthly purchased loan goals.
Ensure investor guidelines are followed and avoid incurring suspense fees.