Position Summary:
The Underwriting Manager will lead and manage our underwriting department, overseeing the evaluation and approval process of mortgage loan applications. This role requires a strategic thinker with strong leadership skills, a deep understanding of underwriting guidelines, and the ability to navigate complex loan scenarios. The ideal candidate will ensure high standards of underwriting accuracy, efficiency, and customer satisfaction while contributing to the growth and success of Loan Factory.
Key Responsibilities:
Leadership & Management:
Lead, mentor, and develop a team of underwriters, fostering a culture of excellence and continuous improvement.
Set clear performance expectations, conduct regular performance reviews, and provide constructive feedback.
Oversee training and development programs to ensure team members are up-to-date on industry regulations and company policies.
Underwriting Oversight:
Review and approve complex mortgage loan applications, ensuring adherence to underwriting guidelines, company policies, and regulatory requirements.
Evaluate and resolve escalated issues or exceptions, making final decisions on loan approvals or denials.
Maintain a thorough understanding of underwriting criteria for various loan products, including conventional, FHA, VA, and jumbo loans.
Process Improvement:
Identify opportunities for process improvements and implement strategies to enhance underwriting efficiency and accuracy.
Collaborate with other departments, such as sales and operations, to streamline the loan process and improve overall customer experience.
Develop and enforce underwriting systems, policies and procedures to ensure consistency and compliance.
Compliance & Risk Management:
Stay up-to-date with industry regulations, guidelines, and best practices to ensure compliance and mitigate risk.
Conduct regular audits of underwriting decisions and processes to identify and address any compliance or risk issues.
Prepare and present reports on underwriting performance, trends, and risk management to senior management.
Customer Focus:
Ensure timely and effective communication with clients, brokers, and other stakeholders throughout the underwriting process.
Address and resolve any customer or broker concerns related to underwriting decisions or processes.
Promote a customer-centric approach within the underwriting team to enhance satisfaction and retention.
Qualifications:
Bachelor’s degree in Finance, Business Administration, or a related field; advanced degree or professional certification (e.g., Certified Mortgage Underwriter) preferred.
Minimum of 5 years of experience in mortgage underwriting, with at least 2 years in a managerial or supervisory role.
Direct Endorsement (DE) certification for underwriting Government loans preferred
In-depth knowledge of mortgage loan products across multiple lenders and investors, underwriting guidelines, and industry regulations.
Strong leadership skills with a proven ability to manage and motivate a team.
Excellent analytical, problem-solving, and decision-making abilities.
Exceptional communication and interpersonal skills, with a focus on customer service.
Proficiency in underwriting software and mortgage management systems.
Benefits:
Competitive salary from $90,000 - $120,000 per year, plus a comprehensive benefits package (health, dental, vision, 401k, sick leave, PTO).
Opportunities for professional development and career advancement.
Dynamic and collaborative work environment focused on innovation and excellence.
