VP Jumbo Underwriting Manager

Company: Fairway Independent Mortgage Corporation
Location: Kirkland
Posted on: January 12, 2021

Job Description:

Job Posting: The VP Regional Jumbo Underwriting Manager position oversees the underwriters completing jumbo loans ensuring compliance with appropriate company, secondary market Investor standards, and all applicable laws. Monitors, tracks, and reports to senior management on jumbo underwriting activities and performance. Examines loan documentation for accuracy and completeness. Provides ongoing focus on building solid and long lasting internal and external relationships in a positive manner and ensures customer's and corporation's best interests are number one priority. Essential Job Functions:* Administers policy, procedures, and standards related to Department processes* Analyzes application data including financial statements, bank statements, merchant agreements, and card statements* Provides direction and support to team members* Develops highly skilled staff with emphasis on quality, customer service, and retention through coaching and training sessions* Develops continuous process improvement opportunities to correct deficiencies, improve efficiency, and reduce costs* Contributes to jumbo underwriting policy and procedures to improve on our underwriting and risk management practices* Assists in development and implementation of short and long term goals and objectives.* Follows prescribed guidelines, receives and reviews loan applications and associated documentation to insure thoroughness and accuracy* Sets and clears loan conditions on files according to investor guidelines and within established processes and procedures* Reworks loan to new terms or identifies additional conditions* Analyzes credit reports and associated documentation, analyzes appraisals, qualifies and classifies loans according to Company guidelines* Reviews all loan components in the file for completeness, accuracy and integrity while ensuring that documents are consistent and uphold to Fairway and industry guidelines. (i.e. Qualifying income used is supported by documentation provided; Appraised value used is supported by appraisal and supporting documentation)* Examines transaction to ensure compliance with all investor guidelines.* Enforces fraud detection techniques. Requests supplemental information and documentation as necessary* Verifies loan-to-value ratios, completeness of application information and credit reports* Underwrites loan application within limits of credit authority based on capability to underwrite transactions involving varying levels of complexity and risk. Acquires a higher level jumbo underwriter when deemed necessary* Recognizes risk factors that may compromise the overall quality of the loan file* Executes loan decisions and review loan conditions in a timely manner* Maintains acceptable turnaround times for applications submitted for underwriting and on funding packages* Communicates and engages proactively with loan agents, processors, funders and post-closers in regards to loan decisions, assignment of loan conditions, investor guidelines/documentation requirements and possible loan scenarios* Interacts with Quality Control, Compliance, and Funding for problem resolution, risk evaluation and compliance concerns* Recognizes types of documentation required for varying or unique circumstances. (e.g. Self-Employed borrowers, title report issues, derogatory credit and non-traditional income sources, etc.)* Aides in the resolution of pre-purchase loan deficiencies by assisting the post-closing department in making necessary file corrections as well as retrieving loan suspense conditionsNon-Essential Job Functions:* Participates in and leads proactive team efforts to achieve departmental and company goals* Adopts Fairway values in personal work behaviors, decision making, contributions and interpersonal interactions* Contributes to a positive work environment by demonstrating cultural expectations and influencing others to reward performance and value "can do" people, accountability, diversity and inclusion, flexibility, continuous improvement, collaboration, creativity and fun* Performs other duties as assignedRequired Knowledge and Skills:* Solid knowledge and understanding of FNMA policies and guidelines* Solid knowledge and understanding of Appendix Q* Solid knowledge and understanding of TILA, RESPA and Predatory Lending * Solid knowledge and understanding of jumbo loan processing, compliance, investor products and underwriting guidelines* Solid knowledge and understanding of mortgage insurance (MI) guidelines* Solid knowledge and understanding of various fraud tools* Solid knowledge and understanding of processing and closing functions and a general understanding of the entire real estate lending process.* Solid knowledge and understanding of customer service and intrapersonal best practicesRequired Education and Experience:* Bachelor's Degree in Business Administration, Finance, Accounting or Economics preferred* High School diploma or equivalency degree* 10+ years of jumbo loan underwriting experience* Credit signing authority experience preferred* Secondary market experience preferred* Demonstrated experience with repurchase response and/or rebuttal review and response preparation * Demonstrated experience working with Fannie Mae Desktop Underwriter preferred* Demonstrated experience researching information, problem solving, and making solid business decisions* Demonstrated experience reporting, analyzing, interpreting, and critical thinking* Demonstrated experience effectively managing relationships with internal and external partners* Demonstrated experience working in a fast paced and changing environment* Demonstrated experience with attention to detail, written and oral communication, multi-tasking, and working in a team atmosphere adhering to tight deadlines* Demonstrated experience with MS Office software productsPhysical Environment:* This position is primarily a work from home position* Normal home office environmentTravel Expectations:* Local travel may be required for company or career-related meetings, programs, and/or events.Reasonable Accommodations To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Reasonable Accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.#Indeed

Keywords: Fairway Independent Mortgage Corporation, Kirkland , VP Jumbo Underwriting Manager, Executive , Kirkland, Washington