Manager Mortgage Underwriting

Hours:

40

Schedule:

This position is remote eligible for up to 40% of the time. Hours are typically Monday - Friday 8:00am - 5:00pm. Must be flexible to meet current and future business needs.

Pay:

Starting Pay: $109,500  Pay Range: $97,039- $122,335

Purpose:

Responsible for overall activities while managing direct oversight of the Mortgage Lending Underwriting Team.  Position is accountable for maintaining appropriate operational, compliance and regulatory controls.  Also responsible for training, coaching and development of direct reports.

Accountabilities:

Primary Duties

• Manage daily operations of the underwriting process by ensuring loans are underwritten in accordance with program guidelines and decisions are communicated within applicable regulatory timelines
• Distribute files to Underwriters and manage overall workflow, including load balancing and management of rush requests
• Responsible for oversight and management of workflow while adherence to department Service Level Agreements (SLA)
• Review and render decisions on “escalated” and/or complex loans within Lending Signing Authorities (LSA)

Compliance

• Maintains an excellent working knowledge of current secondary market guidelines, including Conventional, FHA, VA and SONYMA and available grant programs. Must be able to interpret and apply policies to all mortgage lending situations
• Responsible for communicating any lending policy changes to the underwriting staff and other appropriate stakeholders
• Stays current with Credit Union, State and Federal lending regulations
• Monitor quality control results and take the appropriate actions to remedy oversights.
• Ensure documented procedures and quick reference guides are up to date and/or create new resources if needed
• Liaison between ESL Mortgage Lending Department and their 3^rd party Compliance partner

Management Duties

• Hire, train, coach, develop, recognize and manage Underwriting staff to achieve top performance
• Develop key performance indicators (KPI) and monitor staff performance against stated objectives
• Develops, analyzes, and completes monthly scorecards in order to track and monitor production, efficiency, compliance with investor guidelines and underwriter quality against established standards
• Reviews underwriter approvals and denials for soundness of decisions and follows up with appropriate training and coaching
• Disseminates policies, procedures, and announcements to staff in a timely manner and conducts regular and recurring meetings with staff in order to build an effective communication flow

Strategy

• Support strategic efforts to become number one provider of residential mortgage financing in the market
• Operational excellence – identify process efficiencies and help implement changes
• Expand product offerings with expansion of Underwriting guideline recommendations
• Develops strategies and goals for team in order to support mission, vision, strategies and business plans

Vendor Management

• Help build strategic relationships with current and new key vendors, which may include negotiating vendor contracts
• Be in regular touch with vendors, sharing ideas and company goals and optimize utilization of provided services

Other

• Monthly billing, variance reporting and annual operating plan budgeting
• Local/Corporate project participation and supports testing
• Collaborates with the various internal/external teams including compliance, audit, quality control and post-closing to clear loans for purchase, address compliance/underwriting inaccuracies and identifies trends within underwriting to address and update
• Leads and participates in training programs to increase proficiency of origination practices and attends all required professional development training as required
• Participates in Personal Banking Loan Committee (PBLC), Fair Lending Team Charter, Real Estate Secured Lending Team activities
• Other duties may be required and assigned

Qualifications:

• Bachelor's degree preferred, or 4 years of directly related experience required
• In addition, a minimum 10 years of mortgage related experience required
• Minimum of 4 years of leadership experience required
• Must have a working knowledge of underwriting guidelines for Conventional, FHA and VA mortgage loan products
• Knowledge of all applicable regulatory guidelines
• Ability to make and recommend exceptions within existing risk framework
• Prior experience managing a high performing team balancing quality and consistently delivering on SLAs
• Detail oriented and strong verbal / written communication skills
• Strong organizational and interpersonal skills
• Excellent problem solving and customer service skills
• Ability to work independently and handle multiple priorities under stringent timelines
• Demonstrates alignment with ESL’s Core Values, mission, vision, and purpose to help our community thrive and prosper

We’re committed to diversity, equity, and inclusion. ESL recognizes the importance of a culture that embraces diversity and values individual differences. We are committed to cultivating a diverse workforce at all levels that mirrors the communities we serve. We welcome applications from people with diverse perspectives and backgrounds. We strive to create an inclusive, respectful and equitable environment, which makes ESL a great place to work! 

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