Loan Underwriter I - Home Equity

TD • Mount Laurel Township, NJ

3d • $26 - $39

About The Position

The Loan Underwriter I is primarily responsible for: Mortgage Operations: Underwriting and evaluating conventional, FHA, VA, and CRA Residential Mortgage applications in compliance with bank policies and procedures. Consumer Operations: Underwriting and evaluating Home Equity and Consumer Loans Depth & Scope: Underwrites ethical and salable residential mortgage and consumer loans and evaluate risk while insuring the quality of each loan submitted Approves loans, issues alternative options, or adverse action accordingly using sound judgment while applying bank policies and procedures Validates the data entry to the appropriate Loan Operating System and evaluates all applicable documentation as required by job function and condition Demonstrates In-depth knowledge of regulatory, investor and departmental lending policies for underwriting of conventional loan requests Evaluates all documents and condition loan accordingly. Inform Processor of any additional items necessary to substantiate loan request Identifies loans for exceptions while ensuring proper procedures are followed for approval and documentation and assists in clearing or resolving any issues Notifies Management of integrity issues and ensures files are compliant to internal guidelines and external regulatory requirements Maintains knowledge of loan product guidelines, internal policies and procedures, and regulatory requirements May coach and mentor assigned operations staff and assists with training and guidance as assigned by Underwriting Manager

Requirements

• High school diploma or GED required
• 1-2 years underwriting experience and/or 2 + years of loan processing experience
• Working knowledge of loan underwriting and documentation requirements
• Knowledge of Agency Guidelines and DU automated underwriting system and the ability to provide excellent customer service to both internal and external customers
• Excellent oral and written communication skills
• Solid PC skills
• Knowledge of regulatory, investor and departmental lending policies for underwriting
• Knowledge of CRA products and industry
• Detail oriented, possessing excellent organizational, analytical and decision making skills
• Ability to communicate with multiple business partners in the organization
• Ability to handle heavy workload, multitask and meet stringent deadlines

Responsibilities

• Underwriting and evaluating conventional, FHA, VA, and CRA Residential Mortgage applications in compliance with bank policies and procedures.
• Underwriting and evaluating Home Equity and Consumer Loans
• Underwrites ethical and salable residential mortgage and consumer loans and evaluate risk while insuring the quality of each loan submitted
• Approves loans, issues alternative options, or adverse action accordingly using sound judgment while applying bank policies and procedures
• Validates the data entry to the appropriate Loan Operating System and evaluates all applicable documentation as required by job function and condition
• Demonstrates In-depth knowledge of regulatory, investor and departmental lending policies for underwriting of conventional loan requests
• Evaluates all documents and condition loan accordingly. Inform Processor of any additional items necessary to substantiate loan request
• Identifies loans for exceptions while ensuring proper procedures are followed for approval and documentation and assists in clearing or resolving any issues
• Notifies Management of integrity issues and ensures files are compliant to internal guidelines and external regulatory requirements
• Maintains knowledge of loan product guidelines, internal policies and procedures, and regulatory requirements
• May coach and mentor assigned operations staff and assists with training and guidance as assigned by Underwriting Manager

Benefits

• Total Rewards at TD includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards, generally through participation in an incentive plan) and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off (including Vacation PTO, Flex PTO, and Holiday PTO), banking benefits and discounts, career development, and reward and recognition.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED