Team Lead - Underwriter

Team Lead - Underwriter

Department: Wholesale Group

Employment Type: Full Time

Location: Bloomington, MN

Reporting To: VP - Operations

Compensation: $115,000 - $135,000 / year

Description

We are seeking a motivated and experienced Team Lead/Underwriter to join our dynamic team. This role will play a pivotal role in ensuring the accuracy and efficiency of the underwriting processes while leading a team to success. The position requires a detail-oriented individual with exceptional leadership skills and communication skills.

Responsibilities and Duties:

• Underwriting Excellence: Lead by example and maintain the highest standards of non-Agency underwriting quality and accuracy as a working underwriter as well as functioning as a Team Leader. Evaluate complex submissions and ensure compliance with company policies, industry regulations, and established guidelines.
• Team Leadership: Provide guidance, support, and mentorship to a team of underwriters. Foster a collaborative and growth-oriented environment that encourages team members to excel in their roles.
• Workflow Management: Allocate resources effectively to meet operational targets and ensure timely processing of submission (new files and/or conditions/resubs.
• Risk Assessment: Analyze financial documents, credit reports, and other relevant information to assess risk and make informed decisions. Collaborate with team members to resolve complex cases and to explain approved or denied exceptions.
• Training and Development: Identify training needs within the team and coordinate training sessions to enhance underwriting skills of both new and existing Underwriters. Stay updated on industry trends and regulations to ensure the team's knowledge is up to date.
• Relationship Management: Build and maintain positive relationships with internal stakeholders (i.e. sales, account managers, senior management, etc.) to facilitate smooth communication and efficient operations.
• Performance Metrics: Create, implement and monitor team performance metrics and work towards achieving and exceeding established goals. Design and work with IT reporting to regularly generate reports on team productivity, quality, and efficiency.
• Continuous Improvement: Proactively identify process bottlenecks and areas for improvement. Recommend and implement solutions to enhance operational effectiveness.

Education and Experience:

• High School Diploma or equivalent
• 2-3 years Supervisory or Team Management
• Minimum of 8 years current mortgage underwriting experience with experience manually underwriting income based on bank statements, Tax Returns, P&L statements.
• Strong property appraisal underwriting knowledge.
• In depth knowledge of mortgage underwriting, non-Agency mortgage product guidelines and the mortgage production process
• Knowledge of business purpose loans and multifamily transactions a plus
• Current knowledge of state and federal ATR and fee compliance and the origination regulatory environment
• Working knowledge of Microsoft Office suite with a high degree of comfort in Excel and the review of spreadsheet data.
• Experience working with 3rd party providers (i.e., Data Verify or other fraud tools, property evaluation tools, etc.)
• Strong oral and written communication skills
• Ability to work both independently and collaboratively within a small team and/or remote environment.

Physical Requirements:

• Ability of Sitting, standing, and computer keyboard
• Ability to lift 15lbs at times

Benefits

• Great compensation package
• Attractive benefits plans and paid time off
• 401(k) w/ company matching
• Professional learning and development opportunities
• And much more!

Maintaining a reliable, uninterrupted high speed internet connection is a requirement of hybrid or remote positions.

All job duties and responsibilities must be performed within the guidelines of the Verus Residential Mortgage Employee Handbook and established company policies and procedures. It is the responsibility of each employee to maintain confidentiality of the company, its clients and to follow applicable laws and regulations in the performance of duties.

Verus Mortgage Capital is an equal opportunity employer. All qualified applicants are welcomed to apply and will receive consideration for employment without unlawful discrimination because of a person's race, religious creed, color, national origin, citizenship status, ancestry, marital status, sex, age, or sexual orientation, or because of a person's disability or medical condition.