Job Title: Sr Underwriter/Relationship Manager
Job ID: 387671
Location: Glen Allen, VA
Full/Part Time: Full-Time
Regular/Temporary: Regular Return to Previous Page Responsibilities Act as credit guideline interpretation expert on individual loan transactions or broad policies for HLS for Sales, Operations, Underwriting and Product Managers in Secondary.Serve in an underwriting capacity as necessary that appropriately administers credit risk policy and/or investor guidelines in areas of disputes, repurchase rebuttals or policy interpretation. Maintain targeted response times and service levels for all internal customers.Act as primary point of contact to investor or bank risk policy partners on behalf of HLS colleagues in matters of credit related issues requiring investor and bank policy clarification. Determine appropriate situation to engage investor or provide independent interpretation and direction to colleagues with the goal of loan approval without compromising risk. Provide supporting documentation or reasons to approve loans particularly as it pertains to compensating factors to support a loan approval.Position requires ability to ascertain when and if clarification is needed from investors or rather incumbent can provide, with high degree of confidence, decision for interpretation and underwriting approvals/declines during disputes. Establish outstanding working relationships with HLS colleagues, demonstrating unbiased view in providing decisions on guideline interpretation disputes. Work closely with Credit Risk policy makers/investors. Review exception requests prior to submission to portfolio administration to provide input to requestor as needed to ensure full information is submitted. Identify trends that may lead to need for policy clarification, policy gaps or training needs.Review and determine ability to rebut investor repurchases by researching circumstances, re-underwriting, disputing claims, rectifying or clarifying guidelines and locating missing documentation. Function as investor liaison on certain Credit matters (loan level appeals and disputes). Review and determine ability to appeal or dispute mortgage insurance company related coverage rescissions. Provide similar support related to mortgage insurance company audits and FHA Insuring & Guarantee Team needs.Evaluate Quality Control and Portfolio Administration Credit related findings, and provide final repurchase grades for each loan as a part of Secondary’s evaluation of risk; training needs regarding product and guidelines or policy clarification needs. Facilitate expanded knowledge of Secondary Market, industry practices among RBS Credit partners. Provide Credit related training support for Operations and Sales as needed and in coordination with Credit & Training Manager lll.Provide back-up support to Product Development team.Others duties or special projects requiring underwriting expertise or as assigned by Manager. Qualifications
Minimum 10+ years mortgage banking experience with seasoned Underwriting and Credit Policy experience. Strong Underwriting decision management required. Able to manage guideline disputes with excellent communication skill and style. Drive for loan approval without compromising risk. Provide supporting documentation to the file including the use of compensating factors to ascertain a business decision that can withstand potential investor put-back requests.
Have a comprehensive working knowledge of mortgage products; in-depth application of administering underwriting guidelines and industry / investor requirements. Underwrite complex loan scenarios, particularly jumbo/wealth customers, tax returns; comprehensive knowledge of GSE conventional loans and prefer FHA Direct Endorsement (DE) designation. Skill set should be able to meet requirement for $2,000,000 lending authority.
Mortgage operational background and process knowledge is important. Sales knowledge and exposure preferred.
Ability to work independently as well as with team comprised of members from across all secondary market residential mortgage departments. Position requires leadership and judgment skills including ability to negotiate with investors, determine appropriate situation to leverage investors or make independent decisions that align with bank’s corporate approach to risk. Will be challenged with resolving disputes between various stakeholders and appropriately resolving situations that are well documented, communicated professionally and timely.
Manages time well.
Ability to multi-task.
Excellent customer service skills.
Excellent organizational and communication skills.
Excellent presentation and teaching skills.
Demonstrated accuracy and thoroughness and extreme attention to detail.
Able to adapt to changes or unexpected events.
Excellent decision making and supporting evidence skill set
Strong negotiation skills
Ability to absorb complex information and interpretative skills
Outstanding risk assessment skills
Working knowledge of all standard Windows and Microsoft Office software. Hours and Work Schedule Hours per Week: 40
Work Schedule: Monday-Friday 8:30AM-5:00PM Equal Employment Opportunity It is the policy of CCO Mortgage Corporation to provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to race, color, religion, sex, age, national origin, sexual orientation, gender identity or expression, disability, genetic information, pregnancy, veteran or military status, marital or domestic partner status, or any other factor protected by federal, state, and/or local laws.
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