Underwriting Manager
Location: US, MA, Woburn
Department: Real Estate Lending
Employment type: Full-time
Required experience: Mid-Senior level
Required education: Associate Degree
Industry: Financial Services
Function: Finance
Company profile: Outstanding Member Service Starts With Outstanding PeopleIf you are committed to the concept of “above and beyond” and enjoy interacting with people either in person or on the telephone, then we want to talk to you.Our people are our most valuable asset. We recognize their value – the hard work and dedication they give – and reward it through a highly competitive salary structure and benefits program which includes:Medical, dental and vision insurance401k  Retirement Savings Plan with a match up to 6% by the Credit UnionFlexible Spending  AccountsLife insurance paid by the Credit UnionGenerous paid time offGym membership reimbursement program.
Description: We are looking for a high energy Mortgage Professional with a "can do" attitude to join our growing team!Responsiblities Daily Oversight/Management of Underwriting & Processing Staff (First Mortgage and Home Equity Lending Departments)Provide underwriting support to staff on a daily basis including answering underwriting questions, handling issues/escalations, file review, guideline interpretation and supportStay up to date on all changes to guidelines, policies & procedures by Fannie Mae, MI Companies and Regulators and communicate changes/updates to staffEstablish and implement new policies and procedures as necessaryAssign daily underwrites and insure completion of suchTrain and mentor staff as neededReview and Approve ExceptionsHold all Members of Team Accountable for their job responsibilities and function and ensure they are working efficiently and effectivelyParticipate in annual employee review process with other ManagersQuality Control/ComplianceMonthly QC Audits - Conduct monthly audits on 1-2 loans per Underwriter/month to insure quality and underwriting compliance (which will include a 10% total sampling of loans required for pre-close audit), as well as to identify any negative underwriting trendsHMDA Reporting & Compliance – Ensure HMDA Compliance by Underwriting & Processing StaffGain full understanding of HMDA Reporting so that in case of emergency, you can assist with yearly LAR if needed Pipeline ManagementReview Pipeline with UW’s & Processors regularly to insure they are meeting target dates  (contingency & estimated close dates, as well as monthly projections)Weekly and Monthly Reporting to Management Senior UnderwriterResponsible for carrying consecutive pipeline of loans which may consist of Conforming, Portfolio Jumbo and Home Equity loan productsConstruction Loans – learn how to underwrite Construction Loans to act as backup or overflow UnderwriterNew Program/Product DevelopmentWork with RE Lending Management Team to develop new programsAudit ResponseProvide audit support during audits by NCUA, NAFCU, Policy Works and OCM including pre and post audit information and responsesProvide responses to Audit Exceptions All positions must adhere to standard BSA/AML policies, procedures and processes.  Employees must demonstrate awareness of business functions and how business decisions affect financial and/or non-financial work results.
Requirements: Underwriting knowledge to include: manual loan underwriting, underwriting loans utilizing Fannie Mae AUSFull knowledge and understanding of FNMA GuidelinesBackground in underwriting Conforming, Jumbo and Home Equity Loan productsKnowledge of Construction Loan underwriting preferred but not requiredProficiency in MS Office (Excel and Word)Excellent leadership skillsHistory of managing peopleMulti-task orientedFlexibleProactiveSelf-starterAbility and willingness to wear many hatsAbility to take charge, assess the situation and act appropriatelyStrong work ethicExcellent written and verbal communication skillsTechnically savvy with ability to quickly learn new technologyWilling and able to jump in when needed, wherever neededAbility to excel in a fast-paced environment
Benefits:  Medical, dental and vision insurance401(k)  Retirement Savings Plan with a match up to 6% by the Credit UnionFlexible Spending  AccountsLife insurance paid by the Credit UnionGym membership reimbursement program
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