Loan Underwriter III - Home Equity

TD Bank • Mount Laurel, NJ

4d • $35 - $52

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. Must be located within TD footprint: CT, DE, FL, ME, MD, MA, NH, NJ, NY, PA, RI, SC, VT, VA, DC.

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
• Supports the High Net Worth/Wealth Mgmt customers, with residential/consumer lending limits in the $1-2MM aggregate range as approved by Credit Risk Management
• Outstanding knowledge of loan underwriting documentation requirements
• Mortgage Operations - complete knowledge of FNMA DU automated underwriting system; must also be familiar with underwriting jumbo loans and government products such as FHA and VA loans
• Ability to effectively communicate with all types of personalities and the ability to provide excellent customer service to both internal and external customers
• Superior oral and written communication skills
• Excellent PC skills
• In-depth knowledge of regulatory, investor and departmental lending policies for underwriting of conventional loan requests
• In-depth 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
• Experience with self-employed income preferred
• Experience with complex files preferred
• Home equity experience preferred

Responsibilities

• Underwrites ethical and salable residential mortgage and consumer loans and evaluates risk while ensuring 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
• Evaluates all documents and conditions loan accordingly
• Identifies loans for exceptions while ensuring proper procedures are followed for approval and documentation; clears or resolves any issues
• Escalates integrity issues as appropriate 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
• Coaches and mentors assigned operations staff; assists with training and guidance as assigned
• Monitors vendor performance if required, submits monthly reports to management

Benefits

• Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical and mental well-being goals.
• 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: Mid Level
• Education Level: Associate degree
• Number of Employees: 5,001-10,000 employees