This job has closed.

Centreville Bank · 6 hours ago

Residential Mortgage Underwriting Manager

West Warwick, RI

Full-time

Onsite

Senior Level, Lead/Staff

8+ years exp

Centreville Bank is seeking a Residential Mortgage Underwriting Manager to oversee the daily activities of their residential underwriting team. The role involves ensuring a quality and timely underwriting process, providing customer-centric experiences, and managing compliance and reporting for the underwriting team.

BankingCommunitiesFinancial Services

Responsibilities

Underwrite 1st and 2nd lien conventional and jumbo mortgage loans including FHA, VA, and USDA for both Portfolio and Saleable loan products

Gather and research all pertinent information to support the credit decision including credit analysis, financial analysis, and collateral valuation through review of all appraisals. Implements fraud detection techniques in loan review process

Reviews residential loan application file to verify application data is complete and meets required standards, including but not limited to, type and amount of mortgage, borrower assets, liabilities, and length of employment. Reviews Automated Underwriting system conditions ensuring that the loan meets the eligibility and underwriting guidelines and all conditions for closing are met

Assures compliance with Bank’s credit policy, portfolio underwriting guidelines and/or investor guidelines. Reviews loan documentation and applicable ratios (i.e. debt ratios, loan-to-value). Reviews appraisals for industry standards and guideline requirements

Ensures that the required level of appraisal fieldwork has been completed, are of professional quality, and are prepared consistent with AUS requirements

Reviews flood guidelines and regulations and ensures proper flood insurance is in place when required

Issues loan decision with the ability to explain rationale behind decision. Has the ability to customize responses and recommendations to reflect the specific conditions which may apply to each loan based on investor requirements. Recommends alternative structuring, if necessary

Works with staff and co-workers as a team in analyzing and solving situations that may arise in the mortgage origination loan process. Provides support in answering questions and resolving problems for MLOs, Processors, Closers, Post Closers, and Servicing

Review and respond to QC reports and investor requests

Knowledge of emerging trends in lending affecting the organization including but not limited to, secondary market / compliance / regulatory lending criteria (FHLMC, Fannie Mae, HUD, VA, USDA, HMDA, CFPB). Ability to comply with all Federal and State Regulations and internal banking procedures

Communicates industry, strategic direction, and company changes in order to maintain team unity and comprehension. Exhibits accessibility to take on issues / concerns that need immediate attention

Expected to maintain minimal number and non-material severity of audit exceptions as reported by internal or external audit through the maintenance of data integrity, accuracy, and compliance standards on all loan processing through the underwriting department. Expected to assist in gathering, commenting, researching, and correcting audit related items

Ability to multitask and meet deadlines is necessary. Expected to minimize turn around times

Maintain current knowledge and consistent compliance with regulations, bank policies and procedures related to the position, including but not limited to Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) requirements

Manages the secondary mortgage market function and performs various related duties as illustrated by the following:

Reviews, interprets, and implements the operational policies for the Bank's secondary market function; develops policies and procedures for packaging and selling mortgages; recommends changes to such policies to the Residential Lending Manager

Develops, recommends, and administers the procedures necessary to ensure the complete evaluation, documentation, and underwriting of secondary market loans; conducts research and recommends various methods for making sales of mortgages on the secondary market

Assembles purchase packages that meet Bank lending and revenue criteria and forwards documents along with own analysis and recommendations to the Residential Lending Manager

Monitors rates on a daily basis to determine appropriate time to sell

Coordinates the assembly and perfection of loans for sale in the secondary market; participates in establishing rates and terms for the sales packages

Qualification

FHA Direct EndorsementVA SAR designationDesktop UnderwriterLoan Product AdvisorGovernment Underwriting SystemFHA ScorecardEllie Mae EncompassMortgage regulationsAnalytical skillsTraining abilityMicrosoft OfficeOrganizational skillsCommunication skillsRelationship building

Required

Bachelor's degree in Accounting, Finance, or related field

8+ years of related mortgage experience

FHA Direct Endorsement designation and / or VA SAR designation required

Knowledge of all mortgage, consumer lending, and industry regulations

Ability to work extended hours if needed

Ability to make high quality decisions in a time sensitive manner

Strong technical experience with systems (Desktop Underwriter, Loan Product Advisor, Government Underwriting System, FHA Scorecard, Ellie Mae Encompass)

Excellent organizational, written, verbal communication, and relationship building skills. Ability to train others

Detail oriented and strong analytical skills

Experience with Microsoft Office product suite