Mortgage Loan Underwriting Manager

VyStar Credit Union•Jacksonville, FL

28d

About The Position

At VyStar, we offer competitive pay, an excellent benefit package that includes a 401(k) Plan, an extensive paid technical and on-the-job training program, and tuition reimbursement--available to all full and part time employees. Part time positions start at a minimum of 30 hours per week. We encourage you to become a part of VyStar Credit Union's family of employees. Mortgage Loan Underwriting Manager ACCOUNTABILITY STATEMENT Holds a leadership role and acts as the primary leader for the Mortgage Loan Underwriting staff. Provides training, technical guidance and coordinates daily assignments for mortgage loan underwriters. Coaches and counsels underwriters to ensure the highest level of accuracy and quality are achieved on every loan file in the underwriting process. Monitors loan pipeline, assigns files to underwriting team to ensure Service Level Agreements are achieved. Works closely with the closing and processing teams to resolve any issues and identify opportunities for operational improvement. Monitors daily attendance and timecard reconciliation to ensure compliance with credit union tardiness and attendance guidelines and approves all requests for PTO. Must be well versed in and responsible to ensure we comply with all secondary market loan requirements, all State and Federal regulatory requirements, all private mortgage insurance requirements as well as VyStar mortgage lending policy and procedures. ESSENTIAL FUNCTIONS Manages mortgage underwriting staff related functions consistent with VyStar Credit Union policies and procedures, secondary market guidelines, and state/federal regulations. Monitors daily work assignments and timeliness of completion of underwriting to ensure all production deadlines are adhered to. Schedules and assigns work to improve productivity as needed. Review and decision mortgage applications originated within the Mortgage Department, Call Center, Branch network or the Internet. Must be able to recognize credit requests that do not meet residential mortgage loan criteria. Identify mortgage loan applications that are not approvable under residential mortgage lending policies however, may be approvable under Business Service guidelines, When appropriate, loans may be referred to Business Services. Assist processors/mortgage loan officers in determining acceptability of various mortgage applicants prior to the complete processing of files and offer alternatives as appropriate. Responsible for all training of underwriting staff to ensure compliance with state and federal regulations, secondary market underwriting guidelines, and private mortgage insurance company guidelines. Responsible to train, mentor, and coach underwriting staff to ensure the team is knowledgeable, proficient, accurately, and timely in underwriting and rendering a loan decisions on assigned files. Work with Mortgage Management to provide training to mortgage and credit union staff. Monitors the workload in the underwriting unit to ensure underwriters are meeting underwriting benchmark (i.e. turn time) expectations as communicated by management and allocates assigned loans to ensure an even distribution of work in the underwriting unit. Works with management to review underwriter performance benchmarks for underwriter production. Tasked with monitoring underwriter performance and providing reports to the Mortgage Origination Supervisor and/or Mortgage Origination Manager. Conducts periodic reviews of approved and denied loans to ensure underwriters are rendering loan decisions consistent with the level of risk communicated by management for the loan programs offered. Meets with the Mortgage Origination Supervisor and/or Mortgage Origination Manager to discuss the findings of the review. Identifies critical issues and makes judgment calls within approval limits and guidelines. Provides support to mortgage department and credit union staff by answering questions on mortgage loan program requirements, judgment decisions, and compliance related questions. Incumbent must be thoroughly familiar and stay abreast of any and all changes pertaining to secondary market, state/federal regulations and private mortgage insurers at all times. Demonstrated knowledge to restructure loan to render favorable loan decision, when possible. Cross-sells other credit union services. Prepares and presents annual evaluations for underwriting staff. Consistently adheres to VyStar core values and Code of Ethics and acts in accordance with corporate defined values and ethics. Consistently demonstrates VyStar Excellence with providing service to the membership, Credit union employees, and third party vendors. Responsible for understanding mortgage department goals as well as Credit Union goals and pro-actively works toward attainment of those goals. Identify and make recommendations to Mortgage Origination Supervisor, Mortgage Origination Manager and department Vice President regarding process improvements, quality service and increased efficiencies within the processing unit. Performs the activities and projects as assigned and requested by the Vice President Mortgage Lending. Works with the Vice President Mortgage Lending to ensure underwriters are performing in accordance with the established guidelines/benchmarks in relation to acceptable/reasonable delinquency and loss ratios Perform other duties as assigned. All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work. To enhance a healthy risk culture and support our growth for good pillar, employees will maintain vigilance in safeguarding our operations while ensuring compliance with regulatory mandates. The Risk team serves as the second line of defense by providing risk oversight and credible challenge whereas the Audit team serves as the third line of defense by providing risk assurance. Incumbent is expected to demonstrate each of the following VyStar Excellence behaviors in performing the duties and responsibilities of their job: Focus - Focus your full attention by carefully listening to and observing client or member. Connect - Consistently be friendly and approachable. Demonstrate your care. Understand - Listen empathetically and ask questions (70%/30% rule). Counsel - Recommend solutions based on your member’s needs and objectives. Advance - Ensure that member’s expectations were exceeded. Verify necessary follow-up actions.

Requirements

Requires a minimum of four years in a mortgage underwriting role, preferably with supervision/management experience.
Applicants must be detail oriented and be a self-motivated.
Must be well versed in state and federal regulations governing mortgage origination, secondary market selling guidelines, and private mortgage insurance requirements.
Applicants must have positive, well-developed effective communication skills, both written and oral, be detail oriented, demonstrate good organizational and reflective listening skills, the ability to work in a fast paced environment, and proven ability to work with others.
Must have professional conduct and appearance.
Must work under the philosophy of “people helping people” and be able to effectively communicate with members on all levels.
Working Knowledge of various Microsoft Office applications.
Demonstrated proficiency in using a personal computer.
Incumbent will be required to develop a proficiency in using the various software applications and web solutions utilized by the Mortgage Department in completing daily tasks and responsibilities associated with underwriting.
The minimum formal education required is Bachelor’s Degree.
Experience may be substituted at a 2:1 ratio.
Specialized classes in mortgage lending beyond the college level will be required to be completed within one year of entering the Underwriting Manager position.
Continuing education via local conferences and workshops is required for updates on federal regulations and secondary market requirements.
The successful candidate for this job must have excellent communications skills and should have the ability to interface with other staff members to ensure smooth work flow.
Continuing education via local conferences and workshops is required for updates on federal regulations and secondary market requirements.
Equipment to be used in the daily performance of job duties include HP calculator, PC, and copy machine is required.
Must be able to work independently on a professional level.

Responsibilities

Manages mortgage underwriting staff related functions consistent with VyStar Credit Union policies and procedures, secondary market guidelines, and state/federal regulations.
Monitors daily work assignments and timeliness of completion of underwriting to ensure all production deadlines are adhered to.
Schedules and assigns work to improve productivity as needed.
Review and decision mortgage applications originated within the Mortgage Department, Call Center, Branch network or the Internet.
Must be able to recognize credit requests that do not meet residential mortgage loan criteria.
Identify mortgage loan applications that are not approvable under residential mortgage lending policies however, may be approvable under Business Service guidelines, When appropriate, loans may be referred to Business Services.
Assist processors/mortgage loan officers in determining acceptability of various mortgage applicants prior to the complete processing of files and offer alternatives as appropriate.
Responsible for all training of underwriting staff to ensure compliance with state and federal regulations, secondary market underwriting guidelines, and private mortgage insurance company guidelines.
Responsible to train, mentor, and coach underwriting staff to ensure the team is knowledgeable, proficient, accurately, and timely in underwriting and rendering a loan decisions on assigned files.
Work with Mortgage Management to provide training to mortgage and credit union staff.
Monitors the workload in the underwriting unit to ensure underwriters are meeting underwriting benchmark (i.e. turn time) expectations as communicated by management and allocates assigned loans to ensure an even distribution of work in the underwriting unit.
Works with management to review underwriter performance benchmarks for underwriter production.
Tasked with monitoring underwriter performance and providing reports to the Mortgage Origination Supervisor and/or Mortgage Origination Manager.
Conducts periodic reviews of approved and denied loans to ensure underwriters are rendering loan decisions consistent with the level of risk communicated by management for the loan programs offered.
Meets with the Mortgage Origination Supervisor and/or Mortgage Origination Manager to discuss the findings of the review.
Identifies critical issues and makes judgment calls within approval limits and guidelines.
Provides support to mortgage department and credit union staff by answering questions on mortgage loan program requirements, judgment decisions, and compliance related questions.
Incumbent must be thoroughly familiar and stay abreast of any and all changes pertaining to secondary market, state/federal regulations and private mortgage insurers at all times.
Demonstrated knowledge to restructure loan to render favorable loan decision, when possible.
Cross-sells other credit union services.
Prepares and presents annual evaluations for underwriting staff.
Consistently adheres to VyStar core values and Code of Ethics and acts in accordance with corporate defined values and ethics.
Consistently demonstrates VyStar Excellence with providing service to the membership, Credit union employees, and third party vendors.
Responsible for understanding mortgage department goals as well as Credit Union goals and pro-actively works toward attainment of those goals.
Identify and make recommendations to Mortgage Origination Supervisor, Mortgage Origination Manager and department Vice President regarding process improvements, quality service and increased efficiencies within the processing unit.
Performs the activities and projects as assigned and requested by the Vice President Mortgage Lending.
Works with the Vice President Mortgage Lending to ensure underwriters are performing in accordance with the established guidelines/benchmarks in relation to acceptable/reasonable delinquency and loss ratios
Perform other duties as assigned.
All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work.
To enhance a healthy risk culture and support our growth for good pillar, employees will maintain vigilance in safeguarding our operations while ensuring compliance with regulatory mandates.
The Risk team serves as the second line of defense by providing risk oversight and credible challenge whereas the Audit team serves as the third line of defense by providing risk assurance.
Incumbent is expected to demonstrate each of the following VyStar Excellence behaviors in performing the duties and responsibilities of their job: Focus - Focus your full attention by carefully listening to and observing client or member. Connect - Consistently be friendly and approachable. Demonstrate your care. Understand - Listen empathetically and ask questions (70%/30% rule). Counsel - Recommend solutions based on your member’s needs and objectives. Advance - Ensure that member’s expectations were exceeded. Verify necessary follow-up actions.