Job Description

JOB SUMMARY:

Manages a team of underwriters and provides quality loans for the company by underwriting and evaluating residential mortgage applications originated by MHL loan officers and Third Party Originators.

Manages staff in gathering, analyzing and interpreting all types of credit information form existing and prospective customers to maximize credit and minimize risk and potential loss. Manages the development and maintenance of the loan underwriting portfolios consistent with MHL guidelines for credit quality and investor or insurer standards. Approves and/or denies loans within certain limits and makes credit structure and loan eligibility decisions.

Has approval authority for more complex loan requests and exceptions to policy. Has responsibility for operations management including goals, load leveling, staffing, coaching and performance management. May help coordinate on-site investor audits.

CORE RESPONSIBILITIES:

• 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 MHL’s posted guidelines, policies and procedures
• Maintain minimum file requirements as well as condition review turn‐times 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

JOB REQUIREMENTS

• Demonstrated knowledge of FHA, VA, FNMA, FHLMC, and Jumbo guidelines
• Minimum of 3‐10 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 self‐starter, dependable, and accurate with strong attention to detail
• Must have ability to multi‐task 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 MHL’s service level agreements

Company Description

Majestic Home Loan is a mortgage banking company, established in 1997 in the state of California, that originates residential mortgage loans by one-to-four family residences. The Company's loans are made primarily to refinance existing mortgage, consolidate other debt, to finance home improvements, education and other similar needs and to purchase single family residences.