Senior Mortgage Lending Underwriter

Position Summary

The Senior Mortgage Lending Underwriter will evaluate and underwrite all mortgage loan types offered by Wellby Financial according to specific state and federal requirements, along with secondary marketing requirements to limit the risk exposure to Wellby Financial’s mortgage portfolio and secondary market investors.

Underwriting

• Evaluate and underwrite VA, FHA, USDA, and Conventional Loans to secondary marketing investor requirements and/or Wellby Financial portfolio guidelines.
• Demonstrate underwriting experience vis-à-vis calculating income and/or appraisal evaluations for all products.
• Prepare and present counteroffers on loans outside of secondary marketing underwriting guidelines.
• Prepare adverse action notifications, with awareness of the compliance provisions of the regulatory agencies.
• Review and evaluate documents to ensure adherence to Credit Union, NCUA, USPAP and all other relevant industry guidelines to ensure loan acceptance.

Policies and Guidelines

• Develop and maintain all underwriting policies and procedures.
• Maintain consistent and up-to-date knowledge of all updates, and apply those changes not only to the written policies but also communicating to the mortgage lending team.
• Subject-matter expert on all mortgage products and any changes to Wellby guidelines and secondary marketing investor guidelines.
• Maintain and update underwriting guideline and/or procedural changes in the loan origination system when applicable; will be the primary lead for all LOS underwriting testing requirements and final sign off.
• Serves as primary underwriting contact for all secondary market investors (e.g., Fannie Mae, Freddie Mac, FHA), analyzing their continuous product changes and developing an internal plan to execute.

Exceptions

• Have the capacity and intellect to carefully analyze loan exceptions and rejections; recommend alternative mortgage products better suited to the loan applicant.
• Work closely with Compliance to implement any regulatory changes to include qualified mortgage (QM) and ability to repay (ATR) requirements.

Department Reporting & Training

• Develop, manage, and maintain all mortgage underwriting reporting requirements.
• Provide daily, weekly, and monthly reports and ensure all appropriate parties are receiving timely information.
• Collaborate with mortgage leadership and participate in mentoring sessions for mortgage processors, closers, and loan officers.

Knowledge, Skills, And Abilities (KSA)

• Knowledge of Wellby’s organizational functions, and general operating policies and procedures.
• Knowledge of secretarial practices and procedures, business English, spelling, and punctuation.
• Knowledge of personal computer, utilizing Microsoft Office Suite.
• Knowledge and extensive understanding of mortgage products and guidelines.
• Skilled in having constructive conversations with leadership around performance, development, and helping to support business goals.
• Skilled in operating computer equipment and general office machines such as personal computers, copiers, projection equipment, audio/video, Microsoft Teams, Zoom Video Communications, and adding machines.
• Able to use their mortgage quantitative and management skills.
• Able to communicate information and ideas so others will understand. Must be able to exchange accurate information in these situations.
• Able to influence and engage direct and indirect reports and peers.
• Able to work effectively across organizational departments and functions to achieve strategic goals.
• Able to work in a fast-paced team environment with exceptional customer service skills.
• Able to communicate clearly and concisely, orally and in writing.
• Able to motivate others and to work in a large cross-functional team dynamic.
• Able to efficiently understand and follow oral and written instructions, perform routine duties without close supervision and establish and maintain effective working relationships with other team members.
• Able to coordinate several concurrent activities simultaneously.

Qualifications

• Bachelor’s degree in general studies, business, management, or related field preferred.
• High School Diploma or equivalent required.
• Required underwriting designations: DE, SAR, LAPP.
• Minimum ten (10) years of underwriting experience with a minimum of five (5) years in government underwriting experience required.
• LOS and Product & Pricing Engine experience understanding with system integration knowledge.
• Experience working with secondary market investors and management experience a plus.