Manager - Underwriting

At Newrez, we bring big thinkers and caring doers together to make home happen. We’re a team built on heart and hustle, united by a commitment to show up for our customers, our communities, and each other. We believe that when our people thrive, homeowners thrive - and that’s why we invest in your growth, wellbeing, and ability to make an impact.

Every day, we work to exceed the expectations of our residential mortgage borrowers and business partners through superior service, simple processes, and clear communication. We do this by empowering our employees, encouraging innovative solutions and recognizing great performance.

• Supervises daily activity of the Underwriters to ensure SLA are met or exceeded for both underwriting and conditions review.
• Responsible to ensure the proper training of the Underwriters on the LOS, AUS, regulatory and compliance policies, negotiating skills, 3rd party vendor services and any other area necessary to be effective in their role.
• Develops or utilizes system reports to effectively monitor and manage individual underwriter productivity and take appropriate action when necessary.
• Participates in and/or facilitates resolutions of individual file conflicts.
• Conducts the review of files requiring a second look at established by New Penn policies.
• Maintains and cultivates an effective working relationship with internal and external customers.
• Effectively communicates all decisions and any required conditions to the broker, Account Manager, Territory Manager and or Sales Manager
• Responds to all inquiries in a timely manner as established by company SLA’s.
• Carries out management responsibilities in accordance with New Penn policies and applicable state laws for team of associates including training, coaching, supervising, motivating, planning, assigning and directing work, monitoring performance and taking appropriate action when necessary.
• Participates in the selection and interview process for Underwriter candidates.
• Organizes and facilitates regular department meetings.
• Participates in management meetings as needed.
• Constantly evaluates the processes for improvement opportunities.
• Communicates with the Operations Manager, Sales Manager and other appropriate positions when service levels are at risk.
• Provides feedback to the other department Team Leads and the Operations Manager
• Develops and/or works with the training resources to develop training programs to ensure adequate growth and development of associates.
• Reviews HMDA data for accuracy on loans that the final disposition was completed by the Underwriter.
• Provides quality control responses in a timely manner.
• Monitors Secondary Marketing Outstanding Conditions Report and ensures conditions are being responded to in a timely manner.
• Identifies and develops a successor to this role.
• Performs other duties and special projects as required.
• Displays excellent verbal, written and interpersonal skills.
• Serves as a role model for peers and associates by acting with integrity and in a positive manner at all times.
• Acts as a role model of the company’s values, acting in an ethical and professional manner in all respects.
• Embraces company culture.
• Performs related duties as assigned by supervisor.

*These essential functions are fundamental to the role, and must be performed on-site, as they cannot physically be performed remotely. In addition, the Company has determined that an in-person presence is important to critical components of our work, including oversight, training, collaboration, and productivity. Items not marked (*) as essential on-site, may still require partial on-site work to perform the role satisfactorily.

Required education and experience. Examples below.

• 6-8 years residential mortgage underwriting experience with recent exposure in both government and agency originations
• Requires a minimum of three (3) years’ Team Lead, Supervisor or Management experience.

Required knowledge, skills, and ability. Examples below.

• Knowledge of loan regulatory guidelines
• Operational knowledge of wholesale residential lending, including production and support functions
• Professional written, verbal and interpersonal communication skills
• Proficient at running, reading and interpreting AUS results including DU/LP and TOTAL Scorecard
• Working knowledge of RESPA 2010, HMDA, MDIA and Appraisal Independence Requirements (AIR)
• Demonstrated leadership qualities with the ability to provide vision and inspiration to peers and others.
• Knowledge of FHA/VA regulations as well as FNMA/FHLMC and investor underwriting guidelines
• Maintain working knowledge of all New Penn loan programs to ensure loans conform with program requirements through the loan process and to able to answer questions as needed.
• Working knowledge of lending compliance and regulations
• Ability to identify and resolve problems in a timely manner.
• Proficient in Microsoft Office (Word, Excel, PowerPoint) programs
• Strong organizational skills
• Effective written and verbal communication skills
• Natural collaborative approach to decision-making
• Clear understanding of the implications of customer service
• Effective decision-making, customer service, sales, customer support and problem-solving skills
• Working knowledge of government and agency requirements as well as investor underwriting guidelines
• Strong attention to detail and accuracy
• Strong organizational and time management skills
• Ability to multi-task and work in a deadline driven environment.
• Ability to work effectively in a team environment.
• Expert level underwriting skills as it relates to title, income, credit reports and collateral.

While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.

By applying to this position candidate acknowledges that this is not a remote role and is required to be on-site.

A good faith estimate of the compensation is:

Compensation for this position may also include other elements, including medical, financial, various paid time off benefits, and a bonus based on individual and company performance, variable or annual.

Placement within the range will be based on a variety of factors, including but not limited to, skills, experience, qualifications, location, etc.

Additional Information:

While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.

All employees are required to have smart phones that meet Company security standards with the ability to install apps such as Microsoft Authenticator. Employment will be contingent on this requirement.

Why Newrez

We’re a great place to work because we invest in what matters: your career, your community, your wellbeing, and your future. Our total rewards package is designed to support your whole self.

Company Benefits:

We offer benefits, programs, and perks that support you in every aspect of your life.

• Medical, dental, and vision insurance

• Health Savings Account with employer contribution

• 401(k) Retirement plan with employer match

• Paid Maternity Leave/Parental Bonding Leave/Caregiver Leave

• Adoption Assistance

• Tuition & Certification reimbursement

• Employee Mortgage Loan Program

• The Newrez Employee Emergency and Disaster Fund is a program to support our team members experiencing hardships

Newrez NOW:

Through Newrez NOW, our Corporate Social Responsibility program, you’ll have opportunities to give back, lead, and make a difference.

• 1 company-paid Volunteer Time Off day (with over 40,000 volunteer hours contributed since our inception)

• Matching Gifts Program - dollar-for-dollar up to $1,000

• Access to grants, nonprofit resources, and volunteer opportunities

• More than $6,000,000 donated since 2020

• 1 in 5 employees participates in at least one Employee Resource Group (ERG)

Equal Employment Opportunity

We're proud to be an equal opportunity employer- and celebrate our employees' differences, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, and Veteran status. Different makes us better.

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