Loan Underwriter III - Disposition Desk Home Equity

Work Location:

Mount Laurel, New Jersey, United States of America

Hours:

40

Pay Details:

$33.00 - $49.50 USD

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs. 

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Line of Business:

Credit Management

Job Description:

The Loan Underwriter III underwrites and evaluates conventional, FHA, VA, and CRA Residential Mortgage applications in compliance with bank policies and procedures. This job also underwrites and evaluates Home Equity and Consumer Loans.

Depth & Scope:

• Underwrites ethical and salable residential mortgage and consumer loans and evaluates risk while ensuring the quality of each loan submitted
• Approves loans, issues alternative options, or adverse action accordingly using sound judgment while applying bank policies and procedures
• Validates the data entry to the appropriate Loan Operating System and evaluates all applicable documentation as required by job function
• Evaluates all documents and conditions loan accordingly
• Identifies loans for exceptions while ensuring proper procedures are followed for approval and documentation; clears or resolves any issues
• Escalates integrity issues as appropriate and ensures files are compliant to internal guidelines and external regulatory requirements
• Maintains knowledge of loan product guidelines, internal policies and procedures, and regulatory requirements
• Coaches and mentors assigned operations staff; assists with training and guidance as assigned
• Monitors vendor performance if required, submits monthly reports to management

Education & Experience:

• 2 year degree or equivalent experience preferred
• 3-5 years loan underwriting experience or 5-7 years of loan processing experience
• 3-5 Years Residential Loan Underwriting Experience
• Supports the High Net Worth/Wealth Mgmt customers, with residential/consumer lending limits in the $1-2MM aggregate range as approved by Credit Risk Management
• Outstanding knowledge of loan underwriting documentation requirements
• Mortgage Operations - complete knowledge of FNMA DU automated underwriting system; must also be familiar with underwriting jumbo loans and government products such as FHA and VA loans
• Ability to effectively communicate with all types of personalities and the ability to provide excellent customer service to both internal and external customers
• Superior oral and written communication skills
• Excellent PC skills
• In-depth knowledge of regulatory, investor and departmental lending policies for underwriting of conventional loan requests
• In-depth knowledge of CRA products and industry
• Detail oriented, possessing excellent organizational, analytical and decision making skills
• Ability to communicate with multiple business partners in the organization
• Ability to handle heavy workload, multitask and meet stringent deadlines
• Experience underwriting home equity loans and lines of credit preferred
• Ability to analyze credit preferred
• Experience reviewing/analyzing tax forms preferred
• Encompass experience preferred

Physical Requirements:

Never: 0%; Occasional: 1-33%; Frequent: 34-66%; Continuous: 67-100%

• Domestic Travel – Occasional
• International Travel – Never
• Performing sedentary work – Continuous
• Performing multiple tasks – Continuous
• Operating standard office equipment - Continuous
• Responding quickly to sounds – Occasional
• Sitting – Continuous
• Standing – Frequent
• Walking – Frequent
• Moving safely in confined spaces – Occasional
• Lifting/Carrying (under 25 lbs.) – Occasional
• Lifting/Carrying (over 25 lbs.) – Never
• Squatting – Never
• Bending – Never
• Kneeling – Never
• Crawling – Never
• Climbing – Never
• Reaching overhead – Never
• Reaching forward – Never
• Pushing – Never
• Pulling – Never
• Twisting – Never
• Concentrating for long periods of tim