Underwriting Team Lead

The Underwriting Team Lead underwrites residential loans ensuring compliance with appropriate company, secondary market investor standards and all applicable laws. The Underwriting Team Lead will be responsible for examining conventional loan documentation for accuracy and completeness. Must be able to underwrite loans within the company and industry guidelines. They will also be working with the sales and operations teams to secure all required documents.

Summary:

The Underwriting Team Lead underwrites residential loans ensuring compliance with appropriate company, secondary market investor standards and all applicable laws. They will be responsible for examining conventional loan documentation for accuracy and completeness. Must be able to underwrite loans within the company and industry guidelines. They will also be working with the sales and operations teams to secure all required documents.

Essential Job Functions:

• Underwrites Conventional to verify for completeness, accuracy, and compliance

• Develops and maintains an up to date and sound knowledge of multiple loan product guidelines offered by the company, DU/LP guidelines, and risk assessment tools used to decision mortgage loans

• Reworks loans to new terms, identifies additional conditions as needed to ensure a viable credit decision

• Reviews and evaluates borrower(s) profile including but not limited to all income documentation, tax returns, asset documentation, credit reports, preliminary title report, judgments, bankruptcy documents and appraisals

• Analyzes and calculates income documentation such as personal and business income tax returns and ensures all necessary documentation is requested to support final loan decisions

• Exercises good judgment, conducts reasonableness tests, and issues quality decisions

• Determines accuracy and completeness of files; ensures processes are consistent

• Demonstrates proficiency in automated underwriting systems (DU, LP)

• Maintains a sound knowledge of secondary market activity, practices, and business/industry practices as they impact underwriting quality and origination activity

• Maintains pre-established service level standard of decisions within a service level time frame set by the company

• Communicates regularly with sales team, processors, closers, and management

• Assists in the preparation of repurchase responses and/or rebuttal reviews

Ability to function in an ever-changing environment and work across all business channels in Underwriting (Retail/CC/Wholesale) as needed

• Maintain regular and punctual attendance.

• Other Related Duties: Performs other related duties as assigned.

Producing Team Lead Expectations:

• Ensure the team provides excellent customer service.
• First point of contact for guideline questions from Underwriters.
• Respond to department audit findings or lender post-closing concerns within 48 hours.
• Review escalated loan files, escalate to Management, as needed.
• Assist in new hire training.
• Cover/back-up the underwriter’s loans and complete loan re-submissions when the underwriter is not working.
• Keep PTO (sick time & vacation time) calendar, keeping management informed.
• Monitor Underwriter productivity and ensure the underwriters are meeting their average monthly goals (work with underwriters or direct them where needed to meet productivity)
• Keeping management team up to date on any productivity issues or underwriter concerns, either quality or productivity related.
• Keeping management informed when underwriters are having connectivity issues unrelated to systems, such as power outages or internet issues.
• Monitor team’s pipeline to ensure turn times are met or exceeded.