Reports to: VP of Production
Supervisory: This position supervises 3-5 employees.
This position is responsible for ensuring that loan requests meet program and product specifications or counteroffer to a different product and/or program when appropriate. In addition, you will communicate decisions to appropriate individuals.
- Manage, direct, and implement underwriting strategies and objectives to ensure the timely delivery of high quality loan decisions in accordance with credit policy and service level agreements.
- Responsible for reviewing, analyzing, approving and underwriting individual consumer requests and products within company and industry guidelines.
- Dependent on division and complexity of underwriting, functions may include reviewing financial statements, credit reports, and applicable ratios (i.e. Debt ratios, loan-to-value).
- Evaluate and examine transactions to ensure accuracy and completeness.
- Prepare formal reports for review; ensuring that documents are consistent and uphold to company and industry guidelines.
- Implement fraud detection techniques, perform compliance reviews.
- Assist with re-negotiations of loans based on lending guidelines.
- Contact customers and partners to gather information to make appropriate decisions, explain rationale behind credit decision.
- Review underwriting conditions after they have been met and sign off on them.
- Direct and develop all lending activities in line with the strategic business plan.
- Develop a strong underwriting department through written and verbal communications. Review and approve communications relating to products, procedures, and other information. Interpret, clarify, and ensure changes to process, policies and procedures are communicated and oversee execution.
- Ensure profitable lending operations.
- Ensure compliance of lending activities with all regulations and legislation.
- Perform all other duties as assigned.
- Ensure maintenance of confidentiality and compliance regulations.
- Maintain a professional, friendly and helpful relationship with all staff and members.
- Perform all essential job functions and responsibilities in a timely and professional manner.
- Observe all MMS guidelines and policies.
Required Education and Experience:
- 10+ years of lending experience with at least 5 years in a management position.
- Formal credit training preferred.
- Strong credit knowledge and the ability to structure deals with sound underwriting decision.
- Knowledge of conventional and/or government guidelines.
- Knowledge of processing underwriting and/or closing procedures/federal lending regulations governing real estate lending.
- Bachelor’s degree in related field is preferred.
- Familiar with FHA and HUD guidelines.
- NMLS required.
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.