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A Lead Mortgage Underwriter, working under minimal supervision and with substantial latitude for unreviewed action and decision making, coordinates daily workflow of more junior level staff responsible for evaluating residential mortgage customer applications and rendering credit decisions. Interacts with operating management and represents the department/unit as a subject matter expert on underwriting related matters. In addition, underwrites a limited number of loans at all complexity and loan amount levels, ensuring compliance with appropriate company and agency/investor guidelines. May be assigned specifically to a collateral review and analysis function or an underwriting client support role in the Mortgage Consulting Center.
Oversees daily workflow of assigned team including assigning, monitoring and reviewing progress and accuracy of work; evaluating results, providing direction, etc. Examines overall loan documentation to ensure accuracy and completeness. Reviews loan-to value ratio, credit reports, applications, etc., on the most complex applications to ensure each loan meets company standards for sales into the secondary market. Analyzes applicants' financial status, credit and property evaluation to determine feasibility of granting loan. Provides an underwriting decision to either approve or deny loans within agency, investor and bank guidelines. Re-negotiates loans and provides others with direction in the re-negotiation process based on lending guidelines. Ensures loan agreements are complete, accurate and in accordance with Bank policy. Works collaboratively with Credit Administration regarding guideline definitions. Communicates with Wholesale Mortgage Clients on escalated issues. Clears all prior to close conditions by collecting required documentation to close conditions and complete the loan file. Identifies trends or patterns in data and makes appropriate recommendations to management. Orients, trains, assists and mentor other Mortgage Underwriters on policy, procedure, and credit decisions. Acts as subject matter expert for the team resolving complex underwriting issues. Analyzes and assist underwriters in analyzing complex and diversified credit and property documentation. Interprets, applies and recommends enhancements to organizational policy. Acts as primary liaison with other departments to evaluate risk, resolve issues, provide customer service, and address other assigned underwriting matters. Meets established customer service, productivity and quality standards. May assist or provide input to Manager in regard to personnel-related matters including interviewing and recommendations for hire, performance evaluations, disciplinary actions and training and development of staff. Stays abreast of Bank products and services, compliance issues and regulations and any changes in loan underwriting provisions. Enhances knowledge and skills by attending workshops, reviewing publications and training materials, establishing professional networks and participating in professional societies.
Collateral Review Functions
Leads a team performing review and analysis of real estate appraisal reports used to evaluate the fair market value in serving as collateral for a mortgage loan and ensure appraisal reports support lending decisions. Conducts research and analysis on agency guidelines, bank guidelines and property valuation tools. Maintains up-to- date knowledge. Validates compliance with regulatory and bank guidelines for the purpose of accepting, accepting with conditions, or rejecting a submitted appraisal. Escalates issues of non-compliance, suspicious misrepresentation or fraud. Meets established customer service, productivity and quality standards.
Mortgage Consulting Center Underwriting Functions
Applies superior verbal and written communication skills in providing timely responses via telephone and e-mail to questions and concerns of wholesale client and sales staff regarding credit decisions including; exception requests, conditions, what if scenarios and escalated issues. Develops and manages relationships with client and mortgage insurance partners to include; underwriting guide interpretation, troubleshooting and approving clients for certain loan programs. Identifies business trends and informs management of issues needing further review. Reviews and approves loan and policy exceptions within scope of authority or refers to management for approval. Performs special projects and additional duties and responsibilities as required. Where applicable and when performing the responsibilities of the job, employees are accountable to maintain Sarbanes-Oxley compliance and adhere to internal control policies and procedures.
EDUCATION AND EXPERIENCE
High school diploma, college degree in related field preferred. Minimum seven (7) years progressive experience as a Mortgage Underwriter, two (2) of which are in a senior level or higher capacity, or equivalent relevant experience in mortgage banking. Minimum of five years of appraisal review experience.
KNOWLEDGE, SKILLS AND ABILITIES
Comprehensive knowledge of and the ability to apply advanced underwriting concepts, practices and procedures including investor requirements, residential lending guidelines and the mortgage origination process. Good understanding of financial institution products and services. Computer literate with advanced proficiency in internet navigation, word processing, spreadsheet and database applications and mortgage banking systems. Exceptional customer service skills. Excellent verbal, written and interpersonal communication skills. Strong analytical and problem solving skills. Strong organizational skills. Strong leadership skills. Detail oriented. Ability to plan and follow through assignments to completion. Ability to orient, train and assist more junior level staff. Ability to work independently and meet production goals and deadlines.
ABOUT NEW YORK COMMUNITY BANCORP, INC.
New York Community Bancorp, Inc. (NYSE:NYCB) is the 20th largest bank holding company in the nation, a leading producer of multi-family loans in New York City, and a national aggregator of one-to-four family loans. Our Family of Banks consists of two bank subsidiaries, New York Community Bank and New York Commercial Bank. Our banks serve consumers as well as businesses. With over 270 branches in five states New York, New Jersey, Ohio, Florida and Arizona, we are able to provide clients with a wide range of financial solutions tailored to their needs.
BRANCH OUT and help recruit top talent for NYCB through the employee referral program. All NYCB employees are encouraged to submit referrals. Locate top talent right in the community where you live, work and play. Amazing individuals are all around be sure to let them know how they can become a part of the NYCB family.
NYCB is an equal opportunity employer that prohibits discrimination in hiring or terms and conditions of employment on the basis of race, color, religion, sex, sexual orientation, age, national origin, disability, citizenship, covered veteran status, genetic predisposition, marital status, military status, gender identification or any other legally recognized protected basis under local, state or federal law, regulations or ordinances. In addition, NYCB complies with all applicable laws which govern nondiscrimination in employment in every location in which NYCB does business.
ControlID: 14.234.89 SHR
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