Underwriting Pipeline Facilitator

Company Name:
Waterstone Mortgage Corporation

Under the direction of the SVP-Loan Operations, this position is responsible for the loan underwriting process. This position provides oversight and direction to assigned personnel and assists with the development, design and implementation of policies and procedures impacting the underwriting of loans.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

Plan, coordinate, direct and review work of the underwriting pipeline.
Reviews loans submitted to Underwriting to ensure they are complete, accurate and provide feedback to processing team.
Ensures the integrity of loan data entered and maintained in Empower LOS and investor AUS.
Ensures that loan conditions submitted to obtain clear-to-close are reviewed in a timely manner.
Monitor results of internal audits and suspensions for areas needing improvement and additional training opportunities
Ensures underwriters are verifying all documentation with regard to: income, asset, credit, appraisal and title information.
Review loan submissions to detect and report any form of fraud, inconsistency, misrepresentations, etc.
Develops new methods and procedures to make daily operations more efficient.
Manages projects involving deployment of new systems and procedures
Monitors daily, weekly and monthly production reports related to Fair Lending and other Federal requirements
Monitor loans in process report to ensure that no loans are on there any older than one week and that branch does not incur any penalties due to late deliveries of all loan types.
Support the development, execution and management of the company's underwriting function.
Evaluate and advise on the impact of underwriting programs and strategies.
Assist in the planning, development, organization, implementation, direction and evaluation of the company's underwriting function and performance.
Provide strategic input and leadership on decision-making issues affecting the company's underwriting function.
Analyze workflows and create job aids regarding all facets of the underwriting process to ensure efficiency and effectiveness.
Perform other duties as assigned

Individuals in this position shall not engage in loan origination during the course of his/her employment with WMC. Loan origination is defined as (1) taking a residential mortgage loan application; or (2) offering or negotiating terms of a residential mortgage loan for compensation or gain.

SUPERVISORY RESPONSIBILITIES: Provides leadership and guidance to the Underwriting department.

QUALIFICATIONS: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Additional qualifications:

EDUCATION and/or EXPERIENCE: Five (5) years of experience, knowledge of loan origination software (i.e. Encompass) and prior management experience required. Extensive knowledge of underwriting policies and procedures, including guidelines issued by multiple investors (FHA, VA FNMA, FHLMC)

Additional education and/or experience:

COMPUTER SKILLS: Proficient in Microsoft Office (i.e. Word, Excel, PowerPoint, Outlook). Ability to use and comprehend the findings from automated underwriting software. FHA Connection and VA Gty System.

LANGUAGE SKILLS: Excellent grammar and diction. Ability to read, analyze and interpret complex instructions, correspondences, memos, legal documents, statutes, regulations, and case law. Ability to write complex correspondences and other documents. Ability to effectively communicate complex information in one-on-one and group situations to customers, clients, and other employees of the organization. Understanding of acronyms and mortgage industry terminology.

MATHEMATICAL SKILLS: Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent.

CUSTOMER SERVICE SKILLS: Using excellent customer service skills which includes maintaining a good attitude, taking ownership of meeting customer needs, going the "extra mile" for customers, demonstrating a commitment to sharpening skills through education and training, using positive communication, and looking for opportunities to respect customers' time and schedules.

REASONING ABILITY: Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.


PHYSICAL DEMANDS: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; and talk or hear. The employee frequently is required to reach with hands and arms. The employee is occasionally required to walk; stand; and stoop, kneel or crouch. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, and ability to adjust focus.

Additional Physical Demands:

WORK ENVIRONMENT: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The work environment is a professional office environment where a conservative business dress code is in effect. The noise level in the work environment is usually moderate.

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