Manager, Mortgage Underwriting

Date posted:

Department:

Lending

Location:

Long Island City (HQ) - Queens, NY

Description:

Ensures the accuracy and expediency of mortgage underwriting activities and that underwriting goals are achieved. Responsible for daily oversight and management of the Underwriting staff for first mortgage and home equity lending. Ensures an efficient mortgage underwriting process and that all underwriting decisions are in compliance with UNFCU loan policy, federal, state and NCUA regulations and laws, and secondary market/PMI guidelines. Responsible for maintaining credit quality and administration of FNMA DU.

Accountabilities:

• Manage and direct the daily activities of mortgage underwriting. Provide underwriting support & direction to Underwriting staff on a daily basis including answering underwriting questions, handling issues/escalations, file review, guideline interpretation and support. Monitor and assign the workflow of the Underwriters. Determine critical development areas, resolve problems as they arise, and ensure proper staff coverage levels. Manage workflow and pipeline management to ensure proper service levels are maintained. Ensure quality standards are maintained for all facets of underwriting. Ensure that all loans are completed in accordance with all applicable guidelines and regulations.

• Develop, train, and manage Underwriters to ensure that loans meet respective guidelines of UNFCU’s portfolio or targeted investors such as Fannie Mae, Federal Home Loan Bank or private investors.

• Assist with loan level due diligence for participation transactions.

• Provide direction to the Underwriting staff on the development and management of processes and procedures designed to provide member service, efficiency and quality, while remaining in full compliance with regulatory and investor requirements.

• Provide feedback to Mortgage Operations and Production Management in order to improve both internal and external member service levels.

• Perform second reviews and approve loans which are in excess of Underwriters’ authorized limits.

• Monitor changes to secondary market guidelines, PMI companies and regulators, and recommend/implement changes to increase work efficiency, as well as communicate changes/updates to staff. Develop processes and procedures in response to changes, with the interests of maximizing productivity, efficiency, quality and member service.

• Assist direct reports in resolving loan file issues. Resolve member complaints/problems relative to underwriting.

• Conduct monthly audits of files to ensure quality and underwriting compliance and a sampling of pre-closed loans. Identify any underwriting trends.

• Deliver training programs for staff and others. Assist with underwriting during periods of peak activity to ensure mortgage loans are underwritten on a timely basis.

• Chair Loan Panel to review and analyze mortgage loans that are outside program guidelines and recommend alternative financing options. Approve loans based on lending authority limits (refer to Lending Policy). Exercise sound underwriting and flexible decision-making.

• Ensure accuracy of the HMDA LAR, including reviewing monthly reports to determine that HMDA decision/type of action codes are reflected accurately. Provide training to staff.

• Prepare executive write ups for loans $1.5 million in aggregate and present to senior management. Research and prepare high balance write off memos for mortgages.

• Review daily pipeline report to monitor outstanding files and reduce turnaround times. Ensure that underwriting workflows are balanced with minimal constraints that result in bottlenecks and inefficiency.

• Manage to metrics of efficiency, quality and compliance.

• Assist in the preparation of various reports for management, auditors and examiners.

• Attend Quality Control meetings. Monitor underwriting Quality Control reviews by report findings received and inform staff of issues as well as identify training opportunities. Provide research, responses, training and underwriting procedures as findings require.

• Responsible for ensuring underwriters are following determined workflow, and operating within their respective authorities, thereby meeting service level agreements that have been identified. Responsible for not only ensuring that the productivity levels are met, but also that credit quality meets all defined standards.

• Make recommendations to management to enhance the mortgage underwriting process.

• Perform all duties inherent to a managerial role: interview and select qualified candidates for employment; train, monitor, coach, develop, and evaluate staff; prepare and administer performance evaluations; complete and maintain monthly and yearly accountability reports for each team member to ensure they are meeting accountabilities for their position; promote teamwork and cooperation within the Mortgage Department and across the Credit Union; identify training needs of the department and plan, coordinate, and schedule staff training opportunities.

• Collaborate with other managers, within Lending and across business lines, to enhance and/or improve member service and promote a member centric environment.

• Develop and maintain controls to ensure compliance with critical regulatory, policy and investor requirements.

Qualifications:

TYPE & AMOUNT OF EXPERIENCE:
• Bachelor’s degree or equivalent experience plus 10 years mortgage industry experience, with 5 years experience in a Mortgage Underwriting/Operations Manager capacity
• Banking and/or credit union background preferred
• FHA DE is desirable, but not required

TECHNICAL COMPETENCIES:
• Full range of mortgage underwriting knowledge of conventional, government and portfolio lending guidelines
• Strong expertise in secondary market and investor portfolio guidelines
• Advanced knowledge of lending compliance and regulations, analyzing credit reports, fundamental accounting principles, immigration regulations and underwriting principles, as well as the complete mortgage application process and regulations that apply to mortgage transactions
• Knowledgeable about policies and procedures required to be implemented to ensure compliance with regulations
• Proficiency with MS Office and applicable mortgage software

BEHAVIORAL COMPETENCIES:
Leading the organization:
• managing change
• solving problems and making decisions
• managing politics and influencing others
• taking risks and innovating
• setting vision and strategy
• managing the work
• enhancing business skills and knowledge
• understanding and navigating the organization
Leading the self:
• demonstrating ethics and integrity
• displaying drive and purpose
• exhibiting leadership stature
• increasing your capacity to learn
• managing yourself
• increasing self-awareness
• developing adaptability
Leading others:
• communicating effectively
• developing others
• valuing diversity and inclusion
• building and maintaining relationships
• managing effective teams and work groups

WORK ENVIRONMENT/CONDITIONS:
• Standard office conditions

In addition to any specific job requirements in connection with Bank Secrecy Act and/or OFAC (BSA), employee must (i) be aware of BSA matters commensurate with the position; (ii) report any suspicious activity to the manager or compliance department; and (iii) satisfactorily complete any required BSA training.