Senior Mortgage Underwriter Job in Kennebunk 04043, Maine Us
POSITION TITLE: Senior Underwriter
REPORTS TO: Operations Manager/VP
DEPARTMENT: Mortgage Banking Division
SUPERVISES: Junior Underwriters
FLSA STATUS: Exempt
FUNCTION: In accordance with established policies and procedures, the incumbent will be responsible for the supervising junior underwriting of residential mortgage loans.
RESPONSIBILITIES:
- Review, examine, and underwrite mortgage loans to ensure soundness, accuracy, business value and compliance with the standards of both Savings Bank of Maine, and correspondent investors.
- Evaluate debt ratios, loan-to-value ratios, credit scores, property valuation and various other factors including risk issues and potential fraud.
- Working knowledge of the industry guidelines to include Conforming Conventional Secondary Market, Jumbo, Private and Government Guaranteed Mortgage products.
- Assists in identifying, recommending, and/or negotiating alternative loan requirements, funding and/or loan-structuring solutions.
- Review and analyze special conditions, loan deficiencies and exception requests to determine the appropriate action.
- Coaching field personnel on technical underwriting issues, problems and/or questions.
- Exercises judgment/discretion to address critical business matters having a significant financial impact.
- Interacts with attorneys, appraisers, investors and government/private mortgage insurance companies to facilitate the application approval process.
- Assumes responsibility for the efficient operation of the loan processing system by maintaining computer files, provide training and support, and managing computer updates to enhance the system capability.
- Loan authority to approve loan transactions.
- Assists with the implementation of new programs and handles overall problem solving for department.
- Assumes additional responsibilities within the same physical and mental scope as needed.
SPECIFICATIONS AND QUALIFICATION:
· 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.
· Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
REQUIREMENTS:
· Bachelor’s degree, preferably in business; or 5 years underwriting mortgage loans.
· Experience underwriting FHA loans (preferred)
· Understanding the legal and regulatory, economic, competitive and technological environments which potentially affect various real-estate lending programs.
· Possess extensive understanding of underwriting guidelines and risks.
· Strong computer skills, including DU.
· Possess excellent analytical, interpersonal and communication skills (both written and verbal).
· Flourish in a fast-paced workplace environment.
· Ability to read and interpret operating and procedure manuals.
· Ability to write routine reports and business correspondence.
PHYSICAL DEMANDS and CONDITIONS:
· General office environment.
· Noise level is low to moderate.