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Underwriter IV, Correspondent Lending

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Mortgage & Commercial Lending
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TIAA Bank
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As a part of TIAA’s Financial Solutions business, TIAA Bank, a division of TIAA, FSB, provides full-service, nationwide banking and lending services to consumer, commercial and institutional clients through a variety of channels, including online, its Florida-based financial centers and at other business offices throughout the country.

Position Summary

The Underwriter IV is responsible for reviewing the most complex conventional/conforming standard and JUMBO loan submissions ensuring they meet company and investor guidelines and evaluating loans in such a way as to maximize company profit and minimize company risk exposure. This position will weigh credit risk to ensure that the liability taken on by the company results in saleable loans. The successful candidate should demonstrate excellent customer service skills partnering with internal and external customers and demonstrated ability to work effectively with processing and sales teams in an action oriented environment. Must be highly proficient meeting daily volume requirements with a high degree of accuracy. This position will also serve as a subject matter expert and mentor to underwriters with less experience and knowledge.

Essential Functions

•Reviews all loan submissions and follow-up conditions provided by borrower/broker.
•Ensures that corporate operating standards are met for underwriting and compliance.
•Ensures that customer service commitments are met.
•Mentors less experienced underwriters.
•Reviews all items and conditions provided by borrowers and ensure they meet the required guidelines.
•Reviews items that are a variation of the actual condition required to determine if the acceptance of this condition will be acceptable to the investor.
•Ensures quality control standards are met so company is able to sell loan.
•Ensures all credit decisions meet compliance standards. Monitors property appraisal process to ensure value of property is accurately presented.
•Underwrites loans through use of automated processes.

Knowledge, Skills, and Abilities

•Must have experience and expertise in agency underwriting and selling guidelines.
•Must have high degree of expertise reviewing documents within corporate time-frames and maintaining low error rates.
•Must be well organized and have the ability to multi-task.
•Experience and demonstrated expertise accurately assessing risk.
•Experience determining if submitted conditions are acceptable, and offering accurate alternative suggestions as needed.
•Must have expert level skill analyzing complex business structures, corporate or partnership returns, and financial statements for multiple businesses, as well as the ability to document the analysis with a Fannie Mae 1084 worksheet or similar document.
•Must have a high level of expertise evaluating more complex loans. (JUMBO’s, self-employed borrowers)
•Must have in-depth experience with high-end properties and able to assess collateral risk.
•Dedicated to meeting and exceeding the expectations and requirements of internal and external customers.
•Ability to establish and maintain effective relationships with peers and customers gaining their trust and respect.
•Must have strong communication skills, both verbal and written.
•Must skillfully and effectively mentor those less underwriting experience.

Qualifications

•At least 7 years work history in the mortgage banking industry to include a minimum of 6 years in an Underwriting capacity.
•Proficient in both AUS and traditional underwriting systems with a demonstrated ability to analyze highest complexity transactions
•May be granted conforming, government, jumbo, portfolio and/or exception authority to include credit, income, asset and appraisal review.
•Subject Matter Expert in at least one type of underwriting (Jumbo, FHA/VA, USDA)


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We are an Equal Opportunity/Affirmative Action Employer. We will consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other legally protected status.

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