Benefits:

• 401(k) matching
• Competitive salary
• Dental insurance
• Employee discounts
• Health insurance
• Opportunity for advancement
• Paid time off
  
  
  

Underwriting Manager

Job Description

Position Overview

The Underwriting Manager, who reports to the Chief Operations Officer, is responsible for implementing underwriting policies & standard practice, and managing all aspects of loan decisions. They determine the economic health of applications; review loan conditions; implement and enforce fraud detection; verify and calculate risk factors of the loan and weigh credit risk to ensure that the liability taken will result in a saleable loan. They communicate decisions to all parties and build relationships with both internal and external parties.

Major Areas of Responsibility include:

Updates and maintains company manual/guidelines to ensure compliance with all investor guidelines.

Reviews and analyzes appraisals, preliminary title work, and purchase contracts.

Weighs credit risk to ensure that the liability taken on by the company will result in a saleable loan.

Implements and enforces fraud detection techniques.

Requests supplemental information as necessity dictates.

Recognizes risk factors that may compromise the overall quality of a loan file.

Manages underwriting staff both internal and offshore.

Responsible for loan level exceptions

Minimum Qualifications (Skills, Knowledge & Abilities):

Experience in RTL and Non-QM Underwriting a must.

Strong organizational skills and attention to detail. Understand various mortgage documents.

Ability to determine if submitted conditions are acceptable, and offer alternative suggestions as needed.

Working knowledge of investor underwriting and selling guidelines.

Working knowledge of income calculation methods including but not limited to reviewing Tax Returns and any accompanying Tax Schedules and analyzing bank statements used for income.

Working knowledge of loan amount calculations for RTL and Bridge loans.

Knowledge of rental income analysis for DSCR calculation.

Ability to keep up to date with new developments with Non-QM/RTL loan programs.

Ability to follow written and verbal directives.

Ability to analyze large volumes of financial data.

Experience and Education:

Possess 7+ years of mortgage banking and underwriting experience.

NMLS License

A proven track record of processing a minimum of 3 to 5 new files per day and conditioning a minimum of 4 to 6 files per day.

Experience must include hands-on responsibility for the full scope underwriting activities, both operations and analysis.

Management Experience Required

Bachelors degree

Physical Demands:

The physical demands are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is occasionally required to stand; walk; sit; use hands to finger, handle, or feel objects, tools or controls; reach with hands and arms; climb stairs; balance; stoop, kneel, crouch or crawl; talk or hear; taste or smell. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by the job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.

Work Environment:

This job operates in an office setting and is largely sedentary, requiring the routine use of a computer and other standard office equipment. The ability to lift or move up to 25 pounds, bend, reach, and perform manual tasks may also be required. Remote work is an optional setting. Work environment characteristics are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is exposed to weather conditions prevalent at the time. Business travel may provide for varying degrees of change in work environment. The noise level in the work environment is usually moderate. Remote Work Availability: Yes

Job Classification:

Exempt

• Salary
  
  
  

Note: Nothing in this job description restricts the company’s right to assign or reassign duties and responsibilities to this position at any time. Reasonable accommodations may be made in appropriate circumstances to enable individuals to perform the essential functions of the position.

This is a remote position.