Underwriting Manager

Primary Function

Responsible for the management and development of the underwriters to ensure that they are fully trained in the proper application of established company lending guidelines as well as applicable agency and government requirements.

This includes the oversight of individual underwriter performance to achieve optimum productivity while maintaining for exceeding loan quality and customer service standards.

Direct Reports Yes No

If yes, list what positions report into the role. Examples below.

Underwriters

Principal Duties :

List of required duties below. Distinguish on-site duties with an *. Examples below.

• Supervises daily activity of the Underwriters to ensure SLA are met or exceeded for both underwriting and conditions review.
• Responsible to ensure the proper training of the Underwriters on the LOS, AUS, regulatory and compliance policies, negotiating skills, 3rd party vendor services and any other area necessary to be effective in their role.
• Develops or utilizes system reports to effectively monitor and manage individual underwriter productivity and take appropriate action when necessary.
• Participates in and / or facilitates resolutions of individual file conflicts.
• Conducts the review of files requiring a second look at established by New Penn policies.
• Maintains and cultivates an effective working relationship with internal and external customers.
• Effectively communicates all decisions and any required conditions to the broker, Account Manager, Territory Manager and or Sales Manager
• Responds to all inquiries in a timely manner as established by company SLA’s.
• Carries out management responsibilities in accordance with New Penn policies and applicable state laws for team of associates including training, coaching, supervising, motivating, planning, assigning and directing work, monitoring performance and taking appropriate action when necessary.
• Participates in the selection and interview process for Underwriter candidates.
• Organizes and facilitates regular department meetings.
• Participates in management meetings as needed.
• Constantly evaluates the processes for improvement opportunities.
• Communicates with the Operations Manager, Sales Manager and other appropriate positions when service levels are at risk.
• Provides feedback to the other department Team Leads and the Operations Manager
• Develops and / or works with the training resources to develop training programs to ensure adequate growth and development of associates.
• Reviews HMDA data for accuracy on loans that the final disposition was completed by the Underwriter.
• Provides quality control responses in a timely manner.
• Monitors Secondary Marketing Outstanding Conditions Report and ensures conditions are being responded to in a timely manner.
• Identifies and develops a successor to this role.
• Performs other duties and special projects as required.
• Displays excellent verbal, written and interpersonal skills.
• Serves as a role model for peers and associates by acting with integrity and in a positive manner at all times.
• Acts as a role model of the company’s values, acting in an ethical and professional manner in all respects.
• Embraces company culture.
• Performs related duties as assigned by supervisor.
• These essential functions are fundamental to the role, and must be performed on-site, as they cannot physically be performed remotely.

In addition, the Company has determined that an in-person presence is important to critical components of our work, including oversight, training, collaboration, and productivity.

Items not marked (*) as essential on-site, may still require partial on-site work to perform the role satisfactorily.

Education and Experience

Required education and experience. Examples below.

• 6-8 years residential mortgage underwriting experience with recent exposure in both government and agency originations
• Requires a minimum of three (3) years’ Team Lead, Supervisor or Management experience.

Knowledge, Skills, and Abilities

Required knowledge, skills, and ability. Examples below.

• Knowledge of loan regulatory guidelines
• Operational knowledge of wholesale residential lending, including production and support functions
• Professional written, verbal and interpersonal communication skills
• Proficient at running, reading and interpreting AUS results including DU / LP and TOTAL Scorecard
• Working knowledge of RESPA 2010, HMDA, MDIA and Appraisal Independence Requirements (AIR)
• Demonstrated leadership qualities with the ability to provide vision and inspiration to peers and others.
• Knowledge of FHA / VA regulations as well as FNMA / FHLMC and investor underwriting guidelines
• Maintain working knowledge of all New Penn loan programs to ensure loans conform with program requirements through the loan process and to able to answer questions as needed.
• Working knowledge of lending compliance and regulations
• Ability to identify and resolve problems in a timely manner.
• Proficient in Microsoft Office (Word, Excel, PowerPoint) programs
• Strong organizational skills
• Effective written and verbal communication skills
• Natural collaborative approach to decision-making
• Clear understanding of the implications of customer service
• Effective decision-making, customer service, sales, customer support and problem-solving skills
• Working knowledge of government and agency requirements as well as investor underwriting guidelines
• Strong attention to detail and accuracy
• Strong organizational and time management skills
• Ability to multi-task and work in a deadline driven environment.
• Ability to work effectively in a team environment.
• Expert level underwriting skills as it relates to title, income, credit reports and collateral.

Company Perks :

• 15 Paid Time Off (PTO) days and 18 after 1st anniversary!
• 9 Paid Holidays
• Casual Workplace
• Employee Engagement Activities

Company Benefits :

• Medical (including Health Savings Account & Flexible Savings Account)
• Dental - RX Vision Life, Disability Insurance 401(k) Plan with company match! Employee Assistance Plan
• Performance-based Incentives
• Pet Insurance
• Advancement Opportunities Newrez NOW :
• Our Corporate Social Responsibility program, Newrez NOW, empowers employees to become leaders in their communities through a robust program that includes volunteering, philanthropy, nonprofit grants, and more
• 1 Volunteer Time Off (VTO) day, company-paid volunteer day where all eligible employees may participate in a volunteer event with a nonprofit of their choice
• Employee Matching Gifts Program : We will match monetary employee donations to eligible non-profit organizations, dollar-for-dollar, up to $1,000 per employee
• Newrez Grants Program : Newrez hosts a giving portal where we provide employees an abundance of resources to search for an opportunity to donate their time or monetary contributions
30+ days ago