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KeyBank · 1 day ago

Government Underwriter - Buffalo, NY or Cleveland, OH

Brooklyn, OH

Full-time

Hybrid

Senior Level

$32.69/hr - $49.52/hr

5+ years exp

KeyBank is a financial institution seeking a Mortgage Senior Underwriter responsible for reviewing, analyzing, and approving residential loan applications. The role requires verifying income, assets, credit, and collateral documents, while ensuring compliance with corporate credit policy and guidelines.

Banking

Responsibilities

Evaluate creditworthiness of borrowers to render a credit decision. This includes but is not limited to the review of paystubs, W2’s, financial statements, tax returns, asset statements, bank account statements, credit reports etc

Must ensure all loans meet or exceed corporate credit policy and be in compliance with the Ability to Repay (ATR) and Qualified Mortgage provisions of the Dodd-Frank Act

Ensure compliance with appropriate company and Agency/Investor/FHA/VA guidelines

Review transmittal & 1003 to make sure it is accurate and complete and matches the final AUS findings

Review credit report and compare to liabilities on 1003. Verify the investor guidelines for outstanding derogatory items and requirement payment or satisfaction if needed

Calculate income/self-employed cash flow using documentation and methodology required per investor, and CFPB regulations. Analyze the business’s financial strength by examining annual earnings to determine stability and validity. Income must be verifiable, stable and ongoing

Review assets to ensure adequate funds to close and required reserves. Ability to analyze bank statements for any recent large deposits and possible other debts that might impact ATR

Review appraisal to ensure the report is accurate, complete and the value is supported, and the collateral is acceptable. Recognize when additional field reviews may be necessary to support value

Ability to review Condo/PUD projects to ensure they meet salable or non-warrantable guidelines

Review file to make sure state regulatory guidelines have been met and federal (Patriot Act)

Calculate net tangible benefit for those states that require this test

Ensure all tax, title, insurance and closing documentation is accurate and complete

Verify that the rate lock matches the underwriting file with the correct program, LTV, credit score and pre-payment penalty

Review final conditions submitted to Underwriting Final Approval within SLA

Re-review all Suspended loans within SLA

Review a minimum number of files per month as determined by management which would include new submissions, re-submissions & final conditions

Maintain current fluid knowledge of investor and agency guidelines and adapt to changes quickly

Communicate effectively and engage proactively with mortgage loan officers, processors, branch managers, funders and post-closers in regard to loan decisions, assignment of loan conditions, investor guidelines/documentation requirements and possible loan scenarios

Assists in the training of Key Bank Mortgage employees as needed

Perform other related duties as assigned

Work 'underwriting help desk' on a rotational basis answering emails and phone calls from the sales force

Demonstrate exceptional service philosophy in all interactions with internal peers and partners

Perform second level review on loans recommended for denial. Evaluate the application to determine if there are any other products or alternative terms available before issuance of denial

Perform Second Level One Up Reviews on those loans recommended for approval above someone’s lending authority

Once approved, it has lending authority up to $750,000

Qualification

DE certificationSAR certificationLAPP certificationMortgage Underwriting ExperienceATR/QM Requirements knowledgeMortgage Insurance GuidelinesEmpower LOS knowledgeAnalytical skillsComputer skillsCompliance knowledgeClosing knowledgeCommunication skills