underwriting manager

  

Job Title: Underwriting Manager                                                                  

Job Location: Remote

Desired Start Date: Immediate

SUMMARY

Responsible for supporting and managing an Underwriting Team. Specific duties include, but are not limited to, the following essential job functions:

 

RESPONSIBILITIES

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
 

• Create and maintain a positive team environment that is highly efficient and productive, rewards performance excellence, and is supportive of the Princeton culture and values

• Ensure that the team underwriters understand the departmental goals and the role of the department in achieving Princeton’s business objectives

• Train and upskill team underwriters to achieve additional lending authority--both as part of their self-development and as part of the Underwriting Department goals to develop internal talent

• Conduct regular one-on-one meetings with staff in conformance with company policies

• Manage the assigned Underwriting Team including maintaining appropriate staffing levels to support service level agreements, monitoring and assigning pipelines to ensure parity of work distribution, and identifying priorities for effective pipeline management

• Conduct new and ongoing training for department underwriters and lead staff meetings to communicate agency/industry or company policy/procedure changes

• Accountable for timely responses to investor, regulatory, compliance or QC audits for the team underwriters under your leadership

• Ensure loans are of marketable quality

• Notify management immediately upon the discovery of a deficiency or unsalable loan

• Continuously evaluate staffing needs for the Underwriting Team and take the lead in the interview and hiring process for all underwriting team members

• Monitor underwriting loan quality and manage performance, prepare annual employee reviews, and partner with Human Resources to develop performance improvement plans (as needed)

• Maintain a working and current knowledge of agency and government regulations as well as company programs, products, and operational procedures.

• Interpret and apply required policies and guidelines within regulatory standards

• Underwrite loan files when overflow assistance is needed to ensure effective pipeline management

• Perform 2nd level reviews or Escalation Reviews, as needed

• Perform other duties, as assigned

 

EDUCATION AND/OR EXPERIENCE

Typically requires a bachelor’s degree in business (accounting, finance, and/or economics is preferred) and at least ten (10) years of related work experience, including two (2) years of direct underwriting management responsibility dating back no more than three (3) years. Must possess a solid understanding of FNMA, FHLMC, FHA, and VA regulations as well as investor underwriting guidelines. USDA/Bond experience is a plus. Extensive knowledge of tax return analysis, credit analysis, loan structure, asset, and collateral review is necessary. Knowledge of underwriting, risk assessment, and application of compliance and regulatory guidelines (including TRID) is required. Proficiency with Microsoft Office Suite and automated underwriting systems is required. Knowledge of Encompass is a plus. Experience managing a remote staff is preferred.

 

SKILLS

Demonstrated ability to develop, cultivate, and maintain effective work relationships with employees, management, and the general public is required. Must be able to make recommendations to effectively resolve problems or issues by using judgment and applying standards consistent with company policies, procedures, regulations, and state/federal laws as applicable to the mortgage banking industry. Ability to offer advice, exercise discretion, and maintain confidentiality of sensitive information is a must. The ability to handle difficult and challenging situations while juggling multiple priorities is required. Must have strong interpersonal, organizational, and time management skills.

 

COMMUNICATION SKILLS

Effective oral, written, and interpersonal communication skills with the ability to interpret documents, understand procedures, write reports and correspondence, effectively present information and respond to questions from manager, clients, and customers is a must.

 

MATHEMATICAL SKILLS

Intermediate math skills including the ability to calculate interest and percentages as well as the ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.

 

CERTIFICATES, LICENSES AND/OR REGISTRATIONS

FHA Direct Endorsement (D.E.) and VA SAR/LAPP Certifications are required. FHA Certification must have been maintained in good standing for at least five (5) years. VA SAR/LAPP Certification must have been maintained in good standing for at least two (2) years.

ABOUT PRINCETON MORTGAGE:

Princeton Mortgage is an Equal Opportunity Employer that welcomes and encourages all applicants to apply regardless of age, race, sex, religion, color, national origin, disability, veteran status, sexual orientation, gender identity and/or expression, marital or parental status, ancestry, citizenship status, pregnancy or other reason protected by law. This position requires compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) and all related regulations. At the time of employment candidate must provide NMLS ID number (SAFE Act registration) and grant Princeton standard background check requirements.