Mortgage Underwriter II
Job Responsibilities
- Calculate income from salaried and self-employed borrowers, qualifying ratios and other relevant loan calculations.
- Evaluate loan applications for Conventional (Fannie Mae/Freddie Mac) products.
- Make final loan decisions or recommend approval/denial based on analysis of risk and compliance with program guidelines.
- Calculate and Recalculate income, DTI, LTV, and other qualifying ratios as necessary.
- Ensure underwriting decisions adhere to agency, investor, and regulatory guidelines, including TRID, RESPA, TILA, and QM/ATR rules.
- Respond to post-closing and quality control audits, resolving any deficiencies or conditions.
- Aid Loan Originators and Loan Processors with underwriting related questions, income calculations and guidelines.
- Assist with the training and mentoring of junior underwriters.
- Assign tasks and responsibilities to other team members as required by management.
- Proactively consult with the Processing and Closing departments to ensure that all underwriting conditions are met prior to closing the loan.
- Collaborate with processing and origination teams to improve loan quality and increase efficiency.
- Maintain thorough documentation and clear underwriting notes within the loan origination system (LOS).
- Support pipeline management by prioritizing loans based on closing timelines.
Minimum Qualifications
- Bachelor’s degree in finance, business, or a related field preferred.
- Must have 4-8+ years of underwriting experience with credit authority.
- Thorough knowledge of DU/LP, AUS systems, and manual underwriting procedures.
- Proficient in Loan Origination Systems (e.g., Encompass) and Microsoft Office Suite.
- Working knowledge of other loan products such as but not limited to Jumbo (QM and non-QM), and Government (FHA, VA, USDA) products.
- FHA Direct Endorsement Preferred.
- Must be able to underwrite at least 1.5+ loans per day.
- Proven track record of managing an underwriting pipeline of 30-35 loans.
- Deep understanding of mortgage lending regulations and risk assessment.
- Excellent decision-making and problem-solving ability.
- Strong verbal and written communication.
- Able to prioritize and manage deadlines under pressure.
- Strong analytical skills including the ability to read and assess individual and company financial statements, cash flow, credit reports, and other financial documentation.
Pay
Salary Range: $53,744.00 - $88,290.50
Individual base pay may vary on additional factors such as the candidate’s experience, job-related skills, relevant education, geographic location, and other specific business and organizational needs.
Benefits
WSFS Bank provides a competitive benefits package, which includes medical, dental, and vision coverage; a 401(k) plan; life, accident, and disability insurance; flexible spending accounts (FSAs) and health savings accounts (HSAs); and wellness programs. Additional benefits may include paid parental leave, military leave, vacation and other paid time off, sick leave in accordance with applicable state laws, and paid holidays. Benefit offerings are subject to eligibility requirements, legal limitations, and may vary based on an Associate’s location and employment status.
Contact Information
If you have a physical or other impairment that might require an accommodation, including technical assistance with the WSFS Bank Careers website or submission process, please contact us via email at careers@wsfsbank.com.
About the Role
We are the region's locally headquartered bank and wealth management company. We are honored to consistently be named a Top Workplace by our Associates, who make a difference every day for the people, businesses, and Communities we serve. We Stand For Service® is more than part of our name, it’s our mission and our purpose.