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Underwriting Manager
loanDepot
Chicago, IL, United States
Job Details - this job has expired, please see similar jobs below
The Underwriting Manager oversees the department and ensures their team’s success.
Responsibilities:
• Ensure that underwriting turn times and decisions are sound and within the scope of good business practices and company policies.
• Manage team pipeline by assigning files to team members.
• Order CVAS and One Time Credit Waiver documentation when appropriate.
• Evaluate and examine transactions to ensure accuracy, completeness, and compliance with investor and company guidelines.
• Prepare and communicate formal reports for team members and management.
• Ensure documents are consistent and uphold to company and industry guidelines.
• Identify red flags on documentation.
• Assist with renegotiation of loans based on lending guidelines.
• Maintain compliance with agency and FHA underwriting policies and procedures.
• Perform timely compliance reviews.
• Review and reconcile Deficiency Review(s) from investors.
• Provide direction to underwriting team regarding underwriting and program conditions.
• Train the underwriting staff in agency and government programs or products.
• Keep current on new product offerings and educate staff when applicable.
• Answer questions and give advice to team regarding unusual or complex individual consumer requests.
• Recommend products and programs within company and industry guidelines that will assist borrowers in obtaining home ownership.
• Analyze and review financial statements, credit reports and applicable ratios for escalated files.
• Provide explanation and supporting documentation rationale behind credit decisions.
• Communicate effectively with internal staff to maintain high level of customer service.
• Underwrite complex loans, employee transactions and perform second level reviews.
• Assist Quality Control with audit responses.
• Facilitate communication between lenders and mortgage insurance companies.
• Follow the Triangle Offense Policy.
• Adhere to department turnaround standard of 24 – 48 hours.
• Perform other related duties as assigned and required.
Requirements:
• High school diploma or general education degree (GED)
• 5 - 8 years of successful FHA, VA and Conventional underwriting experience in the mortgage lending industry required, with a minimum of 3 years leading people.
• Valid and current FHA Direct Endorsement (DE) and SAR Certifications.
• Proficiency in DU (Desktop Underwriter) and LP (Loan Prospector) Programs
The Perks:
• Competitive compensation reliant on ability & experience
• Excellent benefits package including multiple health, dental & vision options
• Company paid life and AD&D Insurance, as well as additional voluntary benefit possibilities
• 401K with robust company match
• 15+ PTO days, in addition to 8 paid company holidays
• The opportunity to work for America’s Lender under the vision of industry legend, Anthony Hsieh
loanDepot is a proud equal opportunity employer.