NewHavenRecruiter Since 2001
the smart solution for New Haven jobs

Mortgage Senior Underwriter

Company: Keybank
Location: New Haven
Posted on: September 17, 2020

Job Description:

At Key, employee and candidate health is a top priority. Due to the ongoing spread of COVID-19, all interviews are being conducted virtually. Our talent acquisition team is diligently working to provide you the support you need throughout our hiring process. Learn more .

Mortgage Senior Underwriter in New Haven, CT at Key Bank- Corporate Headquartered in Cleveland, Ohio, KeyCorp (Key) is one of the nation’s largest financial services companies. Key provides investment management, retail and commercial banking, consumer finance and investment banking products to individuals and companies throughout the United States and, for certain businesses, internationally.

Our goal is to be the best regional bank in the U.S. What that means is we put our clients’ needs first and take a customized approach to meeting those needs. At Key we’ve made a promise to our clients that they will always have a champion in us. To deliver on that promise, we’re committed to building a team of engaged employees who do the right thing for our clients and help them achieve their financial goals each and every day.

Job Description ABOUT THE JOB (JOB BRIEF)

The Mortgage Senior Underwriter is responsible for reviewing, analyzing and approving residential loan applications. The Mortgage Senior Underwriter is also responsible for verifying income, assets, credit and collateral documents including self-employed personal and business tax returns. The Mortgage Senior Underwriter may be involved in one or several types of mortgage lending (agency conventional, portfolio conventional, FHA/VA MI etc.). This position will also lend support to other underwriters on complex loan submissions. Lending authority to include conventional, government and jumbo loan programs for up to $750,000. Excellent phone and communication skills and a value of providing superior customer service to internal and external customers required. An exemplary customer service oriented attitude and the ability to work effectively in a Team Environment is essential.

ESSENTIAL JOB FUNCTIONS

Evaluate creditworthiness of borrows in order to render a credit decision. This includes but is not limited to the review of paystubs, W2’s, financial statements, tax returns, asset statements, bank account statements, credit reports etc.

Must ensure all loans meet or exceed corporate credit policy and be in compliance with the Ability to Repay (ATR) and Qualified Mortgage provisions of the Dodd-Frank Act.

Ensure compliance with appropriate company and Agency/Investor/FHA/VA guidelines.

Review transmittal & 1003 to make sure it is accurate and complete and matches the final AUS findings

Review credit report and compare to liabilities on 1003. Verify the investor guidelines for outstanding derogatory items and requirement payment or satisfaction if needed.

Calculate income/self-employed cash flow using documentation and methodology required per investor, and CFPB regulations. Analyze the business’s financial strength by examining annual earnings to determine stability and validity. Income must be verifiable, stable and ongoing.

Review assets to ensure adequate funds to close and required reserves. Ability to analyze bank statements for any recent large deposits and possible other debts that might impact ATR.

Review appraisal to ensure the report is accurate, complete and the value is supported and the collateral is acceptable. Recognize when additional field reviews may be necessary to support value

Ability to review Condo/PUD projects to ensure they meet salable or non warrantable guidelines

Review file to make sure state regulatory guidelines have been met and federal (patriot act)

Calculate net tangible benefit for those states that require this test

Ensure all tax, title, insurance and closing documentation is accurate and complete

Verify that the rate lock matches the underwriting file with the correct program, LTV, credit score and pre-payment penalty

Review final conditions submitted to Underwriting Final Approval within SLA

Re-review all Suspended loans within SLA

Review a minimum number of files per month as determined by management which would include new submissions, re-submissions & final conditions

Maintain current and fluid knowledge of investor and agency guidelines and adapt to changes quickly

Communicate effectively and engages proactively with mortgage loan officers, processors, branch managers, funders and post-closers in regards to loan decisions, assignment of loan conditions, investor guidelines/documentation requirements and possible loan scenarios

Assists in the training of Key Bank Mortgage employees as needed

Perform other related duties as assigned

Work “underwriting help desk” on a rotational basis answering emails and phone calls from the sales force.

Demonstrate exceptional service philosophy in all interactions with internal peers and partners

Perform second level review on loans recommended for denial. Evaluate the application to determine if there are any other products or alternative terms available before issuance of denial.

Perform Second Level One up Reviews on those loans recommended for approval above someone’s lending authority.

Once approved, has lending authority up to $750,000

REQUIRED QUALIFICATIONS

Bachelor’s Degree or equivalent work experience

5+ years of recent Mortgage Underwriting Experience (FHA, VA and Conventional) with strong agency guideline knowledge

DE, SAR and LAPP certifications strongly preferred ; experience with USDA is a plus

Strong working knowledge of ATR/QM Requirements

Proven knowledge of Mortgage Insurance Guidelines and rates

Working knowledge of Empower LOS is a plus

Strong analytical skills; accuracy, consistency and completeness is critical

Ability to work in a fast paced, fluid environment and be held to meet minimum production standards

High integrity and outstanding work ethic

Strong computer skills; proficient in Microsoft Word, Excel and Outlook

Must have proficient written and verbal communication skills

Proven knowledge of compliance and disclosure requirements

Proven knowledge of closing, post-closing & quality control responsibilities

SAFE ACT LANGUAGE

Mortgage Loan Originator (MLO) – A person who takes a consumer residential mortgage loan application that is to be secured by a dwelling and offers or negotiates terms of credit for compensation or gain. This Includes KBM, branch, private banking and call center personnel who originate first or subordinate lien mortgages, refinances, and/or home equity loans/lines of credit. Excludes a person who performs purely administrative or clerical tasks on behalf of a mortgage loan originator, those engaged in cost-free loss mitigation efforts or loan assumptions, and bank employees subject to the de minimis exception.

If this position fits the Mortgage Loan Originator definition provided above, the following statement must be added to the Required Qualifications section of the job description:

Employees in this job are required to comply with all rules and regulations of The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (The SAFE Act).

FLSA STATUS: Non-Exempt

KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.

44002BR

Joining our Talent Network will enhance your job search and application process. Whether you choose to apply or just leave your information, we look forward to staying connected with you.

At Key, we’re committed to diversity and inclusion in all we do. Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by email.

Keywords: Keybank, New Haven , Mortgage Senior Underwriter, Other , New Haven, Connecticut

Click here to apply!

Didn't find what you're looking for? Search again!

I'm looking for
in category
within


Other Other Jobs


Customer Service/Sales
Description: Customer Service/Sales 307112461 East Providence, Massachusetts, US, 02914 Position Purpose: Customer Service/Sales associates provide fast, friendly service by actively seeking out customers to assess (more...)
Company: The Home Depot
Location: East Providence
Posted on: 09/24/2020

Submarine Electronics
Description: ABOUT The most secretive of Navy vessels, a submarine requires a select community of specially trained professionals to operate its classified, highly advanced hardware. The Sailors in the Submarine (more...)
Company: Navy
Location: East Providence
Posted on: 09/24/2020

Submarine Electronics
Description: ABOUT The most secretive of Navy vessels, a submarine requires a select community of specially trained professionals to operate its classified, highly advanced hardware. The Sailors in the Submarine (more...)
Company: Navy
Location: Woonsocket
Posted on: 09/24/2020


Registered Nurse - Home Care (Position Eligible for $5K Sign On Bonus)
Description: HopeHealth is seeking an experiencedRegistered Nurse for its affiliate HopeHealth Visiting Nurse. In this role you will visitpatients in their homes within a specific geographic area. Position is eligible (more...)
Company: HopeHealth
Location: East Providence
Posted on: 09/24/2020

Warehouse/Shopper Team Members- Fairfield, Milford, Stratford, Trumbull
Description: Job DescriptionShifts: Overnight, Early Morning, Day, Evening, Weekend Location: Trumbull, CT Stratford, CT Fairfield, CT Milford, CT Job opportunities vary by location. We update postings daily with (more...)
Company: Amazon Workforce Staffing
Location: Westport
Posted on: 09/24/2020

Data Management Configuration Analyst I
Description: Software Configuration Management SW CM will supports the software engineering team. These job duties include preparing Software Review Board SRB monthly meeting agenda, generating SRB minutes, updating (more...)
Company: RTX
Location: Woonsocket
Posted on: 09/24/2020

RTS Specialist (NJUS)
Description: Purpose of Position br Ensures that all necessary documents pertaining to the release of an aircraft from a scheduled or unscheduled maintenance visit are reviewed and meet Federal Regulations and NJA's (more...)
Company: NetJets
Location: White Plains
Posted on: 09/24/2020

Amazon Workforce Staffing: Part - Time Warehouse Operator - $15. 25 - $18. 25/Hr
Description: Full-time Warehouse Team Member 500 sign-on bonus Hourly pay rate: Earn 15.75 18.75/hr, plus benefits and a 500 sign-on bonus. Limited-Time OpportunityLocation: Taunton, MAJob opportunities vary (more...)
Company: Amazon Workforce Staffing
Location: Woonsocket
Posted on: 09/24/2020

Paragon Rehabilitation: Physical Therapy Assistant - Pta
Description: Paragon Rehabilitationworks across a vast continuum of healthcare environments including hospitals, skilled nursing, assisted living and home health. We foster trust, build relationships, and strive for (more...)
Company: Paragon Rehabilitation
Location: Woonsocket
Posted on: 09/24/2020

Amazon Workforce Staffing: Warehouse Team Member - Flexible Morning Hours
Description: Full-time Warehouse Team Member 500 sign-on bonus Hourly pay rate: Earn 15.75 18.75/hr, plus benefits and a 500 sign-on bonus. Limited-Time OpportunityLocation: Taunton, MAJob opportunities vary (more...)
Company: Amazon Workforce Staffing
Location: Woonsocket
Posted on: 09/24/2020

Log In or Create An Account

Get the latest Connecticut jobs by following @recnetCT on Twitter!

New Haven RSS job feeds