Role Description: Provide departmental operational support to Mortgage Underwriters and first point of escalation and resolution of unresolved/unique underwriting issues. Provide assistance to ensure conformance with FNBO/FNNI policies/guidelines and all applicable Federal regulations. Develop and maintain a thorough understanding of lending products, procedures, and underwriting guidelines. Assist staff members with interpretation of policies/guidelines on loan products and provides guidance throughout the loan process.
Provide departmental operational support to manager and first point of escalation and resolution of unresolved/unique client issues received from third-party vendor. (As Assigned by Manager)
Maintain the collection and reporting of departmental performance metrics (TBD)
Analyze and recommend additional training solutions for team members to maintain or exceed established standards of performance
Utilize escalated issues as training/coaching opportunities.
Work with third-party vendor employees and cross-train existing on all Roles and functions and compliance/regulatory requirements/changes.
Maintain comprehensive job knowledge and provide or coordinate on-the-job-training (OJT) on job functions. (As assigned by manager)
Monitor application processing time to ensure desired service levels and compliance requirements are met. Inform management of changes in application volume, system issues, or other processing concerns.
Monitor adherence to specific Service Level Agreements either through compliance issues or internal customers.
Perform underwriting quality assurance audits to monitor vendor compliance to FNMA and FNBO guidelines
Point person for change management opportunities regarding underwriting guidelines/processes.
Keep on-going policy/guideline manual for third-party engagement
Work with FNBO Sales to ensure loans are generated in accordance with Bank policies, and all applicable laws and regulations. Ensure all loan/underwriting documentation is complete and accurate.
Thorough knowledge of various analysis of current contract information including but not limited to:
Income and/or Cash-flow Analysis
Risk Rating Assessment
Maintain an updated knowledge of current bank policies and applicable laws and regulations.
Provides exceptional customer service to staff, customers, and other related parties in support of the credit process and marketing campaigns.
Work with internal and/or external customers in order to answer any questions and supply additional support needed to complete underwriting of loan applications.
Lead and/or coordinate the implementation of projects
Assists management with implementation of procedural and policy changes.
Ensure that all changes to policy or procedure are incorporated into the daily workflow.
Revise policy and procedures and publish as needed within the department to ensure compliance.
Compliance: Understand and comply with bank policy, laws, regulations, and the bank's BSA/AML Program, as applicable to your job duties.
Complete compliance training and adhere to internal procedures and controls, as required.
Report any known violations of compliance policy, laws, or regulations.
Report any suspicious customer and/or account activity.
If applicable, ensure direct reports meet the above requirements and take action to address employee performance issues.
Professionalism/Attendance: Exhibit professional behavior and promote positive working relationships. Maintain regular and predictable attendance in alignment with departmental/divisional policy.
Workflow and additional responsibilities
Contact point for escalations
Monitor and resolve any defects
FHA-VA appraisal sign offs
Manage FHA connection
Customer complaints pertaining to credit work
Monitor potential opportunities missed (i.e.co-ops, land lease, etc.)
Set requirements for approvals versus suspense, etc.
Monitor and set procedures in place for FEMA disasters
Review and provide feedback on property related questions (mixed use, rural, escrow holdbacks)
Understand and monitor state related issues
Fraud watch/tools – determine what is necessary/needed
Review and set guidelines for FNMA silent policies
Provide policies related to internal risk (i.e. undisclosed debt monitoring and public records reports)
Work with third-party vendor regarding work flow
Set guidance regarding Preapprovals
Provide and update all internal forms (i.e. gift letters, lox, purpose for cash back) for third-party vendor
Knowledge, Skills, Education and Experience:
Bachelor’s degree or equivalent work experience
5+ years underwritingexperience
Excellent written and oral communication skills
Working knowledge of Microsoft Office suite of applications.
Ability to multi-task while adhering to multiple timetables of completion.
Independent decision making and problem resolution skills