Senior Mortgage Lending Underwriter

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Position Summary:

The Senior Mortgage Lending Underwriter will evaluate and underwrite all mortgage loan types offered by Wellby Financial according to specific state and federal requirements, along with secondary marketing requirements to limit the risk exposure to Wellby Financial’s mortgage portfolio and secondary market investors. The Senior Underwriter will analyze required loan documentation and information presented in the mortgage loan request, condition and make appropriate loan decisions based on the acceptability of the credit risk using established Wellby Financial guidelines, secondary market investors, and applicable state and government regulations. The Underwriter will lead, coach, mentor, and train others. This position requires a complete and thorough knowledge and understanding of mortgage underwriting and will have direct involvement in loan origination system (LOS) oversight and management as it relates to underwriting. They will be a part of the Mortgage Lending team and work with a multitude of business partners both internally and externally.

Principle Duties and Responsibilities

• Works with purpose and is driven to provide the best team member experience.

• Willingness and ability to exhibit Wellby Core Values every day.

Underwriting

• Underwrite VA, FHA, USDA, and Conventional Loans to secondary marketing investor requirements and/or Wellby Financial portfolio guidelines.

• Must be able to demonstrate underwriting experience vis-à-vis calculating income and/or appraisal evaluations for all products.

• Must demonstrate strong knowledge and experience with manual underwriting.

• Prepare and present counteroffers on loans outside of secondary marketing underwriting guidelines.

• Prepare adverse action notifications, with awareness of the compliance provisions of the regulatory agencies.

• Review and evaluate documents to ensure adherence to Credit Union, NCUA, USPAP and all other relevant industry guidelines to ensure loan acceptance.

Underwriting Policy and Guidelines

• Develop and maintain all underwriting policies and procedures.

• Maintain consistent and up-to-date knowledge of all updates, and applying those changes not only to the written policies but also communicating to the mortgage lending team.

• Subject-matter expert on all mortgage products and any changes to Wellby guidelines and secondary marketing investor guidelines.

• Maintain and update underwriting guideline and/or procedural changes in the loan origination system when applicable; will be the primary lead for all LOS underwriting testing requirements and final sign off.

• Serves as primary underwriting contact for all secondary market investors (e.g., Fannie Mae, Freddie Mac, FHA), analyzing their continuous product changes and developing an internal plan to execute.

Underwriting Exceptions

• Have the capacity and intellect to carefully analyze loan exceptions and rejections; recommend alternative mortgage products better suited to the loan applicant.

• Work closely with Compliance to implement any regulatory changes to include qualified mortgage (QM) and ability to repay (ATR) requirements.

Department Reporting & Training

• Develop, manage, and maintain all mortgage underwriting reporting requirements. Provide daily, weekly, and monthly reports and ensure all appropriate parties are receiving timely information.

• Work in conjunction with Compliance and legal to ensure accountability and compliance with all applicable laws and regulations concerning mortgage lending underwriting and quality control activities.

• Collaborate with mortgage leadership and participate in mentoring sessions for mortgage processors, closers, and loan officers.

• Performs other duties as assigned.

Knowledge, Skills, and Abilities (KSA)

• Knowledge of Wellby’s organizational functions, and general operating policies and procedures.

• Knowledge of secretarial practices and procedures, business English, spelling, and punctuation.

• Knowledge of personal computer, utilizing Microsoft Office Suite.

• Knowledge and extensive understanding of mortgage products and guidelines.

• Skilled in having constructive conversations with leadership around performance, development, and helping to support business goals.