Sr. Mortgage Underwriter

Location(s): Fair Lawn, NJ

Description: The Senior Mortgage Underwriter underwrites the most complex residential first mortgage loans including, FHA, Correspondents, and Bank originated loans to determine borrower's willingness and ability to repay mortgage debt. Reviews loan files for completeness and compliance with Columbia Bank policies and procedures, Secondary Market guidelines, Federal Housing Administration, Federal regulations and any State law or regulation that may be applicable. Approve residential first mortgage loans within lending authority. Underwrites loans exceeding lending authority and recommends for approval or denial. Review Federal disclosures to insure accuracy and compliance with TRID and any State regulation that may be applicable. Reviews and approves commitment conditions and clear file to close. Provide training and guidance to mortgage processors and newly hired underwriters. Work closely with Account Executives to assist them in qualifying complex loans. Assist in the development and implementation of underwriting standards.

Job Duties:

• Underwrites first mortgage loans, including FHA, Correspondents and Bank originated loans to determine accuracy of the supporting documents in the file along with compliance of Bank, Secondary Market and HUD guidelines. Evaluate and analyze complex income tax returns to establish qualifying income. Checks accuracy of all calculations related to the loan file and verifies system data integrity. Review credit reports and establishes credit worthiness. Reviews appraisal report for accuracy and compliance. Reviews and interprets DU/LP/FHA Total Score Card. Resubmits data to automated systems as applicable. Approves loan within limit of authority. Underwrites loans exceeding lending authority and recommends for approval or denial. Resolves any problems that may occur.
• Maintains a current knowledge of Columbia Bank's policies and procedures. Keeps informed of current Secondary Market guidelines and communicates any changes to the department manager. Keeps up to date with all Federal and State law or regulation that may be applicable.
• Analyzes data on loan applications and initial credit reports to determine eligibility of new mortgage applicants. Reviews applications for completeness and adherence to Columbia Bank and Secondary Market guidelines and requirements. Works closely with Account Executives to assist them in qualifying complex loan requests. Approves applications for processing, recommends applications to be denied, counter offers or further review applications. Work closely with the processing team to help ensure accurate submissions and completion of submitted files.
• Reviews Loan Estimates for accuracy and compliance with Federal any State law or regulation that may be applicable and approves for delivery. Reviews and approves commitment conditions for Columbia originations and correspondent purchases and approves for closing.
• Maintain productivity level and turn times as established by management. Prioritizes the underwriting caseload to meet various deadlines for lock expirations and contract contingencies.
• Provides training and guidance to mortgage processors and newly hired underwriters. Assists managers with the development and implementation of underwriting standards. Answers and researches general underwriting scenario and guideline questions.
• Performs other job related duties as may be assigned.

Job Requirements:

• A college degree is preferred;
• Strong and accurate computer skills, including Word, Excel and Encompass LOS;
• Excellent attention to details and strong figure aptitude;
• Ability to work under pressure and meet deadlines;
• Solid understanding of Freddie Mac, Fannie Mae, and HUD rules and guidelines
• Proficient in automated underwriting systems, including LP,DU;
• Creative problem solver with an understanding of compliance
• Able to deal effectively with, and provide good service to our customers and all levels of Bank personnel;
• Strong written and verbal communication skills;
• FHADE (CHUMS) preferred.

Columbia Bank and its affiliates is an Equal Opportunity Employer

Affirmative Action Employer/Males/Females/Protected Veterans/Individuals with Disabilities