Summary
PenFed is hiring a Manager, Underwriting in Alexandria, VA . The primary purpose of this job is to support the operations staff in maintaining the underwriting quality on all loan files. Validate & analyze findings on credit and compliance quality control reviews according to FNMA, FHLMC, VA and PenFed guidelines.
Essential Functions
- Works with Team Manager and Assistant Manager for completing the monthly scorecards for Underwriters, the staff performance evaluations, and recommend content for training and development of Underwriters.
- Review training flashes prepared by the Underwriting Assistant Manager in regards to guideline changes, updates, systems enhancements, etc.
- Provides complete overview of the Underwriting quality trending on all Conforming, Conventional, Jumbo & Super Jumbo loans to meet GSE, Appendix Q & PenFed guidelines.
- Responsible for working with Lending Services to get approval from the Credit Risk Committee on changes related to product & underwriting guidelines. Update the Mortgage Origination Manuals related to Underwriting.
- Counsels and provides training and guidance to less experienced staff. Assists with cross training as needed.
- Validate & analyze reports that identify the responsible parties on findings reported by QC, QA, Loan Delivery, Post Closing, Credit Risk and/or Compliance. Communicates all trends for the responsible parties and any necessary follow ups to Director.
- Provide guidance on escalated underwriting loan scenarios and requirements. Works closely with Manager, Loan Delivery to ensure all saleable loans are meeting investor requirements.
- Participates with system testing and procedural improvements.
- Remain current on all mortgage related regulations and changes and keeps section staff informed.
*This role is responsible for ensuring business continuity.*
Education And Experience
Equivalent combination of education and experience is considered.
- Bachelor’s degree or a combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions.
- Minimum seven (7) years related work experience in mortgage lending with at least 3 years of underwriting experience.
- Experience managing mortgage operations that involved customer interaction
- Strong verbal and written communications skills required. Attention to detail required.
- MS office general knowledge required
Supervisory Responsibility
- This position will not supervise employees directly, but in directly.
Licenses and Certifications
- There are no additional certifications required.
Work Environment
While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.
Travel
Limited travel to various worksites is required.
