Underwrites all levels of complexity of mortgage loan applications and evaluates loans in order to maximize organizational profit and minimize risk or loss. Responsible for collateral evaluation for all property types including multi-family and renovation loans. Well-versed in standard concepts, practices, and procedures of residential underwriting and is able to ensure that loan meets FHA and VA insurability. Able to manually underwrite loans and is not reliant on automated underwriting to make a sound credit decision. This level of underwriter is expected to accurately analyze risk factors along with the presence of compensating factors that mitigate risk to the bank and structure transactions accordingly. Excellent quality is required, while working in a fast paced production environment. Employee may be required to work overtime based on business need.
Properly applies Flagstar, investor and compliance/regulatory guidelines while underwriting our most complex loan transactions. Places the proper conditions on a loan. Formulates clear, concise and actionable conditions. Ability to manually underwrite loans and apply sound judgment and decisions.
Review and clear conditions based on Flagstar and investor guidelines within a designated timeframe.
Provide professional and knowledgeable assistance and communication to customers and internal groups. Follow-up with customers in a timely and in an actionable format.
Mentors underwriter levels 1 and 2 and assists them with complex loan files, as needed.
Other duties may be assigned at the discretion of management.
Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.
High School Diploma, GED, or foreign equivalent required.
More than five years of government underwriting experience.
Extreme attention to detail and organization
Strong email etiquette
Ability to build relationships with customers, sales and internal groups
Ability to analyze complex income, assets, credit and collateral
Proven decision-making skills
Displays initiative and drive for results
Able to work independently
Strong problem-solving, analytical and resolution skills
Good written and oral communication skills
Intermediate to advanced technical/functional skills are required.
Experience with Desktop Underwriting and Loan Prospector (Total Scorecard)
Able to perform duties within prescribed productivity timelines while maintaining high quality
Utilizes proper listening skills to identify and resolve issues quickly.
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