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Underwriting Manager (140-160 base + bonus)

Company: Optello
Location: Portland
Posted on: April 9, 2021

Job Description:

We are a multi-billion dollar servicer and wholesale lender specializing in conventional, FHA, VA and USDA loans. We are looking for an experienced underwriting manager to oversee 10-12 residential underwriters with conventional, USDA, FHA, VA and jumbo loans.

We offer phenomenal compensation, work/life balance, benefits, FULL TIME REMOTE OPTIONS, and have been named a "best place to work" award for 5 years in a row and counting. We look forward to meeting you!

What You Will Be Doing

Process Flow and Efficiency Planning with Excel and Reporting Skills
Monitor underwriting production and turn times
Develop partnership/working relationship with Department Managers
Partner w/Operations and Sales to ensure great customer service and high-quality and simple conditions
Manage the pipeline of all loans to be underwritten.
Review new loan files to ensure loan meets investor and program criteria.
Review transmittal & 1003 to make sure it is accurate and complete, compare to finding to verify that all information matches.
Review credit report and compare to liabilities on 1003.
Verify the investor guidelines for outstanding derogatory items and requirement payment or satisfaction if needed. Request updated mortgage history if needed.

  • Calculate income using documentation required per investor, questioning any substantial changes in income.
    Review assets statements to compare to required assets. Require documentation and source for any recent large deposits.
    Review title to verify our borrower has ownership on a refinance transaction and that the seller has ownership for purchase transaction. Check that chain of title meets investor requirements. Verify there are no unpaid liens or judgments and that all mortgage liens are being paid off through the transaction. Compare tax figures to 1003.
    Review appraisal to ensure the value is supported and that the appraiser has provided complete accurate appraisal. Order value review on loans considered elevated risk.
    Review file make sure compliance has been met; regulatory state compliance ad federal (patriot act).
    Calculate net tangible benefit for those states/programs that require this test.
    Review final conditions turned in for Underwriting Final Approval within 24 hours.
    Maintain current and fluid knowledge of investor and agency guidelines.
    Provide coaching and oversight for underwriters, including ongoing training and feedback to underwriters and spot review of underwriting decisions.

    Review and recommend changes and improvements to department practices as appropriate
    Ensures and upholds fair lending practices; meets targets for productivity, quality and customer satisfaction
    Thorough knowledge of all GSE underwriting requirements as it pertains to Correspondent and Wholesale Lending
    Skilled in negotiating issues and resolving problems
    Analyze credit, income, assets, LTV/CLTV in accordance with posted guidelines, as well as
    Maintain thorough knowledge of agency guidelines, as well as MHLs posted guidelines, policies and procedures
    Maintain minimum file requirements as well as condition review turntimes as set for by
    MHL service level agreements
    Maintain communication with brokers/processors/account executives/customer service reps to ensure all questions are answered in a timely manner

    What You Need for this Position

    Job Requirements

    Demonstrated knowledge of FHA, VA, FNMA, FHLMC, and Jumbo guidelines
    Minimum of 310 years experience in a mortgage underwriting role

    Prior Experience Managing a Team Of Underwriter Is Required

    At least 5+ years recent underwriting experience working with multiple investors.

    Minimum 1 Year Supervisory Experience.

    Must have experience working with multiple investors.

    Strong Verbal And Written Communication Skills Required.

    Conventional and FHA experience required (must have a CHUMS)

    VA and USDA experience a plus
    Excellent time management and organizational skills.
    Excellent verbal and written communication skills.
    Ability to manage multiple deadlines.
    Strong knowledge of Microsoft Word and Excel required.
    Strong knowledge of Encompass preferred.
    VA staff Appraisal Reviewer (SAR) designation a plus
    Knowledge of QM/ATR required
    Strong analytical skills
    Excellent written and verbal communication skills
    Must be a selfstarter, dependable, and accurate with strong attention to detail
    Must have ability to multitask in a fast paced environment, and facilitate change whether indicated by management, market changes, or regulatory requirements
    Ability to prioritize and manage time to meet MHLs service level agreements

    What's In It for You

    Our employees enjoy top of the market compensation and full benefit benefits which include medical, dental,
    vision, life, and disability insurance, flexible benefits plan, 401(k) plan, and paid holidays, as well as
    vacation and sick leave.

    So, if you are an underwriting manager please apply today!

    Email Your Resume In Word To

    Looking forward to receiving your resume through our website and going over the position with you. Clicking apply is the best way to apply, but you may also:

    • Please do NOT change the email subject line in any way. You must keep the JobID: linkedin : NB1- -- in the email subject line for your application to be considered.***
      Nic Benedetto - Recruiting Manager - Optello

      Applicants must be authorized to work in the U.S.

      Optello is proud to be an Equal Opportunity Employer

      All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, protected veteran status, or any other characteristic protected by law.

      Your Right to Work - In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification document form upon hire.

Keywords: Optello, Portland , Underwriting Manager (140-160 base + bonus), Executive , Portland, Oregon

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