Underwriting Manager - Government Underwriting

Position Title

Underwriting Manager - Government Underwriting

Location

Work From Home United States

Job Summary

Flagstar Bank is seeking a dynamic individual to join our team as an Underwriting Manager. This individual coordinates and directs the daily operations of a team of underwriters for Retail or Wholesale (correspondents and brokers) customers as well as providing support as needed to support Fulfillment Operations teams. Responsibilities including managing pipeline workflow within the Underwriting team, ensuring daily production and services levels are achieved, providing guidance and adherence to all investor, regulatory and compliance polices and procedures. The Underwriting Manager must have experience in all aspects of mortgage lending and must be knowledgeable of all products including Conventional, Jumbo and Government (FHA/VA). Position is responsible for the credit quality of their staff’s underwriting and will be expected to provide second level underwriting reviews as may be deemed necessary. The Underwriting Manager will also be involved in meeting and communications with the Sales leaders in their respective business line as well as participation in client/customer lender interactions.

Participates in high level projects and assigns SME’s from their team to participate in projects as may be necessary. Sets underwriter goals and establishes performance criteria. Responsible for managing and delivering underwriter scorecards. Assists with the roll out and training of new products, policies, and procedures. Coaches, counsels, and evaluates the performance of existing employees. Ensures administrative and operational compliance with regulatory requirements, policies, and procedures related to underwriting. Helps mentor and develop underwriters and underwriting assistants in the credit area. Interviews, hires, and coordinates training of new employees. Provides technical underwriting advice, when necessary. Provides leadership, guidance, and support to a team of assistant underwriting managers, underwriters, and underwriting assistants. Responds to customer inquiries relative to loan level questions, appeals, and declinations. Strong knowledge of Conventional, Jumbo, and Government (FHA/VA) guidelines Ability to provide credit approvals and second signs as needed for all products. Strong communication skills and ability to partner effectively with Sales management, Account Executives and Loan Officers. Works with the appraisal review and fraud groups on loan issues that require escalation and management involvement and decisions. Additional responsibilities as assigned by management. Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to Flagstar’s internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.

Pay Range: $86,200.00 - $125,600.00 - $165,000.00

Job Responsibilities

10% of time: Customers

5% of time: Employees in other departments

80% of time: Company management

5% of time: Company executives

Staff member is expected to consistently adhere to regulatory and compliance policies and standards linked to their job as listed. Staff member will not repeatedly act in a manner signifying intentional or willful noncompliance, nor exhibit gross negligence or a general disregard for compliance and regulatory standards. Staff member must ensure compliance with applicable federal, state and local laws and regulations. Staff member must complete all required compliance training on a timely basis. Staff member will maintain knowledge of and adhere to Flagstar’s internal compliance policies and procedures. Staff member must take responsibility to keep up to date with changing regulations and policies.

Talent Management includes, but is not limited to: conduct performance appraisals, coach and develop staff, hold accountability meetings, conduct team performance meetings, perform employee observations, maintain a manager action plan, maintain a low performer action plan, ensure cross training/back-up is available, implement succession planning, ensure all staff comply with compliance requirements, successfully exercise the usual authority of a manager.

If manager is accountable for managing a direct expense budget: Manage the direct expense budget for assigned area, address variances, and take appropriate action. Coach team related to cost effective spending within the business unit.

If manager is not accountable for managing a direct expense budget: Coach team related to cost effective spending within the business unit.

Job Requirements

Bachelor’s degree or comparable work experienceMinimum of 7 years prior underwriting experienceMinimum of 5 years of management experience with staffing (minimum) of 15+ underwriters. Knowledge of Fannie and Freddie’s automated underwriting systems required. Strong knowledge of FNMA and FHLMC guidelines and CFPB regulations required. Knowledge and expertise of conventional, government, and jumbo product underwriting guidelines. Ability to analyze and determine the credibility of residential appraisal. Excellent verbal and written communications skills and ability to prepare senior management presentations. Ability to work autonomously and handle multiple projects simultaneously. Strong analytical, time management and organizational skills with close attentional to detail. Strong interpersonal, problem resolution and team building skills required. Ability to work under minimal supervision. Completely utilize computer software – MS Word, MS Excel and email are an integral part of day to day activity. Ability to work regularly scheduled hours, 8:30 – 5:00 Monday – Friday, some weekend or evening hours and travel may be required upon business need.