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Government Underwriter
Government UnderwriterKeyBank • Brooklyn, New York, USA
Government Underwriter

Government Underwriter

KeyBank • Brooklyn, New York, USA
[job_card.variable_days_ago]
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  • [job_card.full_time]
[job_card.job_description]

Location :

4910 Tiedeman Road Brooklyn Ohio

Job Description

This position requires a DE SARS or LAPP certification.

ABOUT THE JOB (JOB BRIEF)

The Mortgage Senior Underwriter is responsible for reviewing analyzing and approving residential loan applications. The Mortgage Senior Underwriter is also responsible for verifying income assets credit and collateral documents including self-employed personal and business tax returns. The Mortgage Senior Underwriter may be involved in one or several types of mortgage lending (agency conventional portfolio conventional FHA / VA MI etc.). This position will also lend support to other underwriters on complex loan submissions. Lending authority to include conventional government and jumbo loan programs for up to $750000. Excellent phone and communication skills and the value of providing superior customer service to internal and external customers required. An exemplary customer service-oriented attitude and the ability to work effectively in a Team Environment is essential.

This is a hybrid role that will require office attendance 2 days a week. It is imperative to be at a commutable distance from one of the following offices :

  • 4910 Tiedeman Road Brooklyn OH
  • 4224 Ridge Lea Road Amherst NY

ESSENTIAL JOB FUNCTIONS

  • Evaluate creditworthiness of borrowers to render a credit decision. This includes but is not limited to the review of paystubs W2s financial statements tax returns asset statements bank account statements credit reports etc.
  • Must ensure all loans meet or exceed corporate credit policy and be in compliance with the Ability to Repay (ATR) and Qualified Mortgage provisions of the Dodd-Frank Act.
  • Ensure compliance with appropriate company and Agency / Investor / FHA / VA guidelines.
  • Review transmittal & 1003 to make sure it is accurate and complete and matches the final AUS findings
  • Review credit report and compare to liabilities on 1003. Verify the investor guidelines for outstanding derogatory items and requirement payment or satisfaction if needed.
  • Calculate income / self-employed cash flow using documentation and methodology required per investor and CFPB regulations. Analyze the businesss financial strength by examining annual earnings to determine stability and validity. Income must be verifiable stable and ongoing.
  • Review assets to ensure adequate funds to close and required reserves. Ability to analyze bank statements for any recent large deposits and possible other debts that might impact ATR.
  • Review appraisal to ensure the report is accurate complete and the value is supported and the collateral is acceptable. Recognize when additional field reviews may be necessary to support value
  • Ability to review Condo / PUD projects to ensure they meet salable or non-warrantable guidelines
  • Review file to make sure state regulatory guidelines have been met and federal (Patriot Act)
  • Calculate net tangible benefit for those states that require this test
  • Ensure all tax title insurance and closing documentation is accurate and complete
  • Verify that the rate lock matches the underwriting file with the correct program LTV credit score and pre-payment penalty
  • Review final conditions submitted to Underwriting Final Approval within SLA
  • Re-review all Suspended loans within SLA
  • Review a minimum number of files per month as determined by management which would include new submissions re-submissions & final conditions
  • Maintain current fluid knowledge of investor and agency guidelines and adapt to changes quickly
  • Communicate effectively and engage proactively with mortgage loan officers processors branch managers funders and post-closers in regard to loan decisions assignment of loan conditions investor guidelines / documentation requirements and possible loan scenarios
  • Assists in the training of Key Bank Mortgage employees as needed
  • Perform other related duties as assigned
  • Work underwriting help desk on a rotational basis answering emails and phone calls from the sales force.
  • Demonstrate exceptional service philosophy in all interactions with internal peers and partners
  • Perform second level review on loans recommended for denial. Evaluate the application to determine if there are any other products or alternative terms available before issuance of denial.
  • Perform Second Level One Up Reviews on those loans recommended for approval above someones lending authority.
  • Once approved it has lending authority up to $750000

    • REQUIRED QUALIFICATIONS

  • Bachelors Degree or equivalent work experience
  • 5 years of recent Mortgage Underwriting Experience (FHA VA and Conventional) with strong agency guideline knowledge
  • DE SAR and LAPP certifications strongly preferred; experience with USDA is a plus
  • Strong working knowledge of ATR / QM Requirements
  • Proven knowledge of Mortgage Insurance Guidelines and rates
  • Working knowledge of Empower LOS is a plus
  • Strong analytical skills : accuracy consistency and completeness are critical
  • Ability to work in a fast paced fluid environment and be held to meet minimum production standards
  • High integrity and outstanding work ethic
  • Strong computer skills; proficient in Microsoft Word Excel and Outlook
  • Must have proficient written and verbal communication skills
  • Proven knowledge of compliance and disclosure requirements
  • Proven knowledge of closing post-closing & quality control responsibilities

    • COMPENSATION AND BENEFITS

    This position is eligible to earn a base hourly rate in the range of $32.69 - $49.52 per hour. Placement within the pay range may differ based upon various factors including but not limited to skills experience and geographic location. Compensation for this role also includes incentive compensation subject to individual and company performance.

    Please click here for a list of benefits for which this position is eligible.

    Key has implemented an approach to employee workspaces which prioritizes in-office presence while providing flexible options in circumstances where roles can be performed effectively in a mobile environment.

    Job Posting Expiration Date : 12 / 31 / 2025 KeyCorp is an Equal Opportunity Employer committed to sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race color religion sex sexual orientation gender identity national origin age genetic information pregnancy disability veteran status or any other characteristic protected by law.

    Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing

    # LI-Remote

    Key Skills

    Loan Processing,Computer Skills,Fraud,Math,Banking,Pricing,Analysis Skills,Fair Housing Regulations,Underwriting,Financial Analysis,negotiation,Phone Etiquette

    Employment Type : Full-Time

    Experience : years

    Vacancy : 1

    Hourly Salary Salary : 32 - 49

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