Also referred to as:
Underwriting Manager - Mortgage Loans
Requirements and Responsibilities
Mortgage Underwriting Manager manages the mortgage underwriting function that evaluates the risk of loan applications against the firm's objectives and borrowing guidelines using analysis and assessment of creditworthiness criteria. Reviews the applicant's financial status, documents, data, and property appraisal. Being a Mortgage Underwriting Manager calculates LTV ratio (loan to value) to define the loan program eligibility, down payment, interest rate, repayment terms, and allowed loan amounts. Makes approval, rejection, or modification decisions based on underwriting guidelines and established approval limits. Additionally, Mortgage Underwriting Manager complies with all federal regulations, state laws, and internal bank policies related to mortgage lending. Responds to escalations of non-conforming loans that require approval review using an exception process. Requires a bachelor's degree. Typically reports to a head of a unit/department. The Mortgage Underwriting Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. To be a Mortgage Underwriting Manager typically requires 5 years experience in the related area as an individual contributor. 1 - 3 years supervisory experience may be required. Extensive knowledge of the function and department processes.
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