Loan Underwriter I

TD Bank•Mount Laurel, NJ

5d•Onsite

About The Position

The Loan Underwriter I is primarily responsible for underwriting and evaluating conventional, FHA, VA, and CRA Residential Mortgage applications in compliance with bank policies and procedures. They also underwrite and evaluate Home Equity and Consumer Loans. This role involves underwriting ethical and salable residential mortgage and consumer loans, evaluating risk while ensuring the quality of each loan submitted. The underwriter approves loans, issues alternative options, or adverse action accordingly using sound judgment while applying bank policies and procedures. They validate data entry to the appropriate Loan Operating System and evaluate all applicable documentation as required by job function and condition. This position requires an in-depth knowledge of regulatory, investor, and departmental lending policies for underwriting of conventional loan requests. The underwriter evaluates all documents and conditions loans accordingly, informing the Processor of any additional items necessary to substantiate the loan request. They identify loans for exceptions while ensuring proper procedures are followed for approval and documentation, and assist in clearing or resolving any issues. Management is notified of integrity issues, and the underwriter ensures files are compliant to internal guidelines and external regulatory requirements. Maintaining knowledge of loan product guidelines, internal policies and procedures, and regulatory requirements is crucial. The role may also involve coaching and mentoring assigned operations staff and assisting with training and guidance as assigned by the 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
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

Nice To Haves

Knowledge of condo projects and master condo policies preferred
Insurance knowledge preferred

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.
Underwriting ethical and salable residential mortgage and consumer loans and evaluate risk while insuring the quality of each loan submitted.
Approving loans, issuing alternative options, or adverse action accordingly using sound judgment while applying bank policies and procedures.
Validating the data entry to the appropriate Loan Operating System and evaluating all applicable documentation as required by job function and condition.
Demonstrating In-depth knowledge of regulatory, investor and departmental lending policies for underwriting of conventional loan requests.
Evaluating all documents and condition loan accordingly.
Informing Processor of any additional items necessary to substantiate loan request.
Identifying loans for exceptions while ensuring proper procedures are followed for approval and documentation and assisting in clearing or resolving any issues.
Notifying Management of integrity issues and ensuring files are compliant to internal guidelines and external regulatory requirements.
Maintaining knowledge of loan product guidelines, internal policies and procedures, and regulatory requirements.
Coaching and mentoring assigned operations staff and assisting with training and guidance as assigned by Underwriting Manager.