Mortgage Underwriting Manager
About The Position
The Mortgage Underwriting Manager is responsible for managing the functional work and providing guidance to the Underwriting team to ensure that effective policies, procedures, and workflows are in place that result in timely and accurate underwriting and closing of the bank’s residential mortgage and consumer loans. This role involves providing strategic direction, daily supervision, and developmental objectives for the Mortgage Underwriting team. The manager will oversee staff in analyzing credit information, ensuring compliance with regulations, and developing expert knowledge of underwriting requirements. Collaboration with the Residential Mortgage Manager is key to executing the bank's mortgage banking strategy. The position also includes underwriting and overseeing the underwriting of various loan types, developing an efficient departmental infrastructure, and maintaining necessary reports. Working closely with investors to identify problems and trends, ensuring appropriate pull-through rates, and escalating post-closing issues are also critical functions. The manager will develop Underwriting policies and procedures, provide scenario support, and collaborate with other teams to ensure a smooth process flow. A secondary review for declined loans and maintaining knowledge of investor requirements, program guidelines, and the competitive landscape are also part of the role. Active participation in demonstrating GRB Experience behaviors and collaborating with vendors and industry leaders to improve efficiency and reduce risk are expected. The role also involves developing effective risk management methodologies and overseeing the bank’s partnership with Affordable Housing Providers. Representation of the Underwriting department in audits and examinations is also a responsibility.
Requirements
- Bachelor’s degree in a business-related discipline plus a minimum of 5 years residential mortgage underwriting experience, or the equivalent combination of education and experience
- Demonstrated PC literacy
- Ability to handle highly confidential information with sensitivity, tact and discretion
- Demonstrates decisiveness and confidence
Nice To Haves
- 3+ years of supervisory experience
- Strong knowledge of mortgage guidelines, loan program and automated underwriting systems
- Prior experience with mortgage loan origination systems
Responsibilities
- Provide strategic direction to the Underwriting Team
- Responsible for daily supervision/oversight and ongoing developmental objectives of the Mortgage Underwriting team
- Plan and coordinate daily work of direct reports
- Train and motivate employees
- Monitor and evaluate team performance, holding employees accountable for goals
- Development of staff through coaching and performance appraisal process
- Manage staff in analyzing and interpreting credit information to maximize credit while minimizing risk to the bank
- Ensure loans are in compliance with investor requirements, federal and state laws, and regulations including ATR/QM provisions
- Develop and maintain expert knowledge base related to underwriting requirements
- Collaborate with Residential Mortgage Manager to effectively develop and execute the Bank’s mortgage banking strategy
- Underwrite and oversee underwriting of conventional and government mortgage loans for sale in the secondary market, bank portfolio loans, HELOCs and all consumer loans
- Develop and manage an efficient departmental infrastructure to ensure quality loans are delivered to investors within the appropriate timeframes to maximize revenue to the bank
- Develop and maintain the necessary reports and monitoring tools
- Work closely with investors to proactively identify problems and trends, ensure appropriate pull through rates and lender performance; work with account representatives to escalate post-closing suspense issues as needed
- Ensure Underwriter loan files are covered during absences
- Develop Underwriting policies and procedures to ensure the bank is meeting all agency and regulatory requirements
- Provide scenario support to mortgage sales and operations partners
- Collaborate with mortgage sales, processing, closing and post-closing teams to ensure smooth process flow
- Provide secondary review for loans recommended for decline
- Maintain knowledge of investor requirements, program guidelines and competitive landscape
- Provide reports to management as requested
- Active participation in demonstrating the behaviors outlined in the GRB Experience
- Collaborate with vendors, service partners, and industry leaders to develop strategies to improve efficiency, reduce risk, and/or improve the loan process from origination through sale and consistently deliver the GRB customer experience
- Develop effective risk management methodologies to limit the bank’s exposure to regulatory and credit risk
- Oversee the bank’s partnership with Affordable Housing Providers in a manner that meets production thresholds as well as program requirements
- Represents the Underwriting department in audits and examinations of Mortgage Operations and related areas; respond to requests for information from designated departments or agencies
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What This Job Offers
Job Type
Full-time
Career Level
Manager
