Underwriting Supervisor oversees activities of the underwriting department. Provides supervision for a group of underwriters who review, analyze, and inspect insurance risk. Being an Underwriting Supervisor analyzes various rate plans utilizing a company's claims history to determine the appropriate rate plan and benefits costs. Must be familiar with regulations at the federal, state and local level. Additionally, Underwriting Supervisor typically requires a bachelor's degree. Typically reports to a manager or head of a unit/department. Working team member that may validate or coordinate the work of others on a support team. Suggests improvements to process, is a knowledge resource for other team members. Has no authority for staff actions. Generally has a minimum of 2 years experience as an individual contributor. Thorough knowledge of the team processes. (Copyright 2024 Salary.com)
· Be responsible for all aspects of the credit decision making process performed by the underwriters under supervision
· Underwrite 70% of the expected monthly funded unit count for Underwriters
· Conduct underwriter meetings in accordance with guideline changes, new investor introductions, internal service levels, and other applicable topics
· Re-underwrite the first ten loans of each new hire. At least four need to be government loans.
o A summary of the “finding” and comments should be submitted to the Chief Credit Officer with a recommendation for:
§ Signing authority
§ Additional time under review
§ Termination
· Weekly productivity review
o Review of each underwriters initial underwrites and resubmissions
· Monthly review of QA / QC findings
o Review findings and meet with each underwriter to review / dispute findings
§ Counseling for egregious errors or repeat mistakes
· Manage eFolder usage by underwriters
o Underwriter is responsible for having each credit document used in rendering the credit decision on a loan placed in the proper eFolder bucket before issuing the CTC.
o All unnecessary / duplicate documentation should be placed in the eFolder bucket marked “Junk” (soon to be named “Archive – Do not ship”
· Provide second level review on all loans recommended for credit denial
· Supervise the “scenario desk” for accurate and timely responses to scenario questions from the field
· Arbitrate appeals and disagreements on loan files as needed between Sales and Operations
o Insure that appropriate loans are conditioned to findings and not necessarily beyond
· Maintain thorough knowledge of loan programs, guidelines, documents and secondary marketing salability requirements
· Thorough understanding of the entire mortgage workflow process
· Maintain knowledge of Encompass configuration and functionality
· Participate in Investor meetings – both at relationship inception and scheduled post-closing / book of business performance reviews
· Underwrite or second signature for all delegated jumbo loans
· Underwrite the first five loans from a new branch office
· Participate in Operations Staff meetings – when necessary
· Participate in Senior Management meetings – when necessary
Job Type: Full-time
Work Location: In person