Loan Underwriter III - Disposition Desk Home Equity

TD Bank • Mount Laurel Township, NJ

137d • $33 - $49 • Remote

About The Position

The Loan Underwriter III underwrites and evaluates conventional, FHA, VA, and CRA Residential Mortgage applications in compliance with bank policies and procedures. This job also underwrites and evaluates Home Equity and Consumer Loans. The position involves underwriting ethical and salable residential mortgage and consumer loans, evaluating risk while ensuring the quality of each loan submitted. Responsibilities include approving loans, issuing alternative options, or adverse action accordingly using sound judgment while applying bank policies and procedures. The underwriter validates data entry to the appropriate Loan Operating System and evaluates all applicable documentation as required by job function. They also identify loans for exceptions while ensuring proper procedures are followed for approval and documentation, clear or resolve any issues, and escalate integrity issues as appropriate to ensure compliance with internal guidelines and external regulatory requirements. The role requires maintaining knowledge of loan product guidelines, internal policies and procedures, and regulatory requirements, as well as coaching and mentoring assigned operations staff and monitoring vendor performance if required.

Requirements

• 2 year degree or equivalent experience preferred.
• 3-5 years loan underwriting experience or 5-7 years of loan processing experience.
• 3-5 years Residential Loan Underwriting Experience.
• Outstanding knowledge of loan underwriting documentation requirements.
• Complete knowledge of FNMA DU automated underwriting system.
• Ability to effectively communicate with all types of personalities.
• Superior oral and written communication skills.
• Excellent PC skills.
• In-depth knowledge of regulatory, investor and departmental lending policies.
• Detail oriented with excellent organizational, analytical and decision making skills.
• Ability to handle heavy workload, multitask and meet stringent deadlines.

Nice To Haves

• Experience underwriting home equity loans and lines of credit preferred.
• Ability to analyze credit preferred.
• Experience reviewing/analyzing tax forms preferred.
• Encompass experience preferred.

Responsibilities

• Underwrites ethical and salable residential mortgage and consumer loans.
• Evaluates risk while ensuring the quality of each loan submitted.
• Approves loans, issues alternative options, or adverse action accordingly.
• Validates data entry to the appropriate Loan Operating System.
• Evaluates all applicable documentation as required by job function.
• Identifies loans for exceptions and ensures proper procedures are followed.
• Escalates integrity issues as appropriate.
• Maintains knowledge of loan product guidelines and regulatory requirements.
• Coaches and mentors assigned operations staff.
• Monitors vendor performance and submits monthly reports to management.

Benefits

• Base salary and variable compensation/incentive awards.
• 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 opportunities.
• Reward and recognition programs.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Associate degree