Manager - Real Estate Underwriting
- Burbank, CA
The Real Estate Underwriting Manager provides a careful analysis of loans accepted for processing by the credit union and ensures loans meet the guidelines established by LFCU as well as federal and state regulations. Provides leadership, training, guidance and support to the underwriting team and real estate loan personnel to ensure the staff’s continued growth and development. Responsible for building an effective team of underwriters, meeting and exceeding company standards for productivity, loan quality, turn-around time and customer satisfaction.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
Loan Product, Policies & Procedures & Systems
• Interprets and implements underwriting guidelines, and analyzes gaps in policies or procedures and makes formal recommendations to appropriate committee for updates and enhancements.
• Partners with stakeholders to recommend new loan products as well as recommendations for underwriting criteria, policies and procedures, implementation and delivering to real estate loan personnel.
• Ensures that loan policy and procedures, services and products meet federal and state regulations as well as investor, mortgage insurance companies requirements as applicable.
• Monitors industry trends, standards and best practices; recommends improvement to current processes, guidelines, or policies.
• Ensures policies and procedures in Real Estate Department’s website is up to date.
• Provides recommendations for Loan Origination System upgrades, including enhancements to monitor productivity or improve quality.
• Creates and develops Key Performance Indicators (KPIs) for the department; develops reports and tracking tools; communicates goals with staff consistently.
• Researches Industry benchmarks for KPIs, sets department targets, and evaluates metrics for improvement.
• Analyzes requests for exceptions to policy and determines acceptability to the risk requirements.
• Assists in training real estate lending personnel, including other departments such as processing, on changes to policies, guidelines, or procedures related to changing industry standards.
• Oversees underwriting quality, analysis and practices to ensure adherence to the company, investor, and mortgage insurance guidelines.
• Fosters collaborative team environment that works closely with front line to offer solutions and possible restructuring of loan terms to find options for members that are within Logix risk tolerance.
• Presents and recommends escalated loans outside of loan authority for approval to Senior Loan Committee or board, as necessary.
• Owns appraisal process including vendor management, quality and service. Creates and presents metrics to internal committees as well as vendor to ensure service and quality standards are consistently met.
• Evaluates practices of ability to repay and serves as a subject matter expert on various income calculation methods; sets and recommends standards to the senior management.
• Maintains availability to production and processing staff for interpretations and questions with loans, and policy guidance.
• Communicates clear and concise information to residential lending personnel regarding loan decisions, conditions, scenarios and underwriting guidelines.
• Owns final action process for determining correct final actions and reporting to meet company and HMDA standards. Works with fulfilment to correct HMDA LAR issues prior to final submission to CFPB.
• Assists in the due diligence of loan quality.
• Ensures that all loans are underwritten accurately and are properly documented, and that loan policy and procedures, services and products meet both federal and state regulations as well as investor and LFCU requirements.
• Keeps apprised of changes with Fannie Mae guidelines and newsletters and informs staff.
• Reviews re-purchase requests from investors and communicates results with Jr. Loan Committee.
• Trains loan personnel to ensure an adequate understanding of the credit union's underwriting loan procedures and policies and investor guidelines.
Supervision and Management
• Periodically reviews employee loan approvals for soundness of decision.
• Maintains open communication with members of the department as to the status of the loan.
• Maintains open communication with vendors, appraisers and any other interested parties to the loan transaction.
• Responsible for Appraisal Management Company selection, quality, standards and periodically reviews, selects, or terminates vendors as appropriate to maintain Logix and investor standards.
• Assists in the department’s goal to fund loans within assigned time frame.
• Works to create a positive, supportive and fun work environment.
• Reviews department metrics and makes staffing and budget recommendations to senior management.
The Ideal Candidate Will Have
• Five years real estate underwriting experience and underwriting to FNMA/FHLMC guidelines.
• Minimum 2 years management experience or the demonstrated experience in leading a team.
• A thorough working knowledge of the microsoft suite of office products.
• Bachelor’s degree preferred.
Must also demonstrate conduct consistent with our Corporate Values:
- Practice open Communication with all levels;
- Be Accountable by taking ownership of customer issues and responsibility for one’s actions;
- Foster Teamwork by cooperating and collaborating with other employees;
- Seek ways to make the workplace Fun for oneself & others;
- Conduct oneself with Integrity by being honest, trustworthy and ethical in all work activities and interactions;
- Work with a Service Orientation by having a genuine concern for the needs of one’s customers and by being friendly, professional and following through on commitments; and
- Demonstrate Humility in all interactions and remember to leave one’s ego at the door when one arrives to work.
Logix Federal Credit Union is an equal opportunity employer that does not discriminate in employment opportunities or practices on the basis of race, religion, color, sex, sexual orientation, gender identity, national origin, protected veteran or disability status, or any other status protected by law.
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