Mortgage Sr Underwriter - Cleveland or Buffalo Hybrid/ Utah Remote
About the position The Mortgage Senior Underwriter is responsible for reviewing, analyzing, and approving residential loan applications. This role involves verifying income, assets, credit, and collateral documents, including self-employed personal and business tax returns. The Mortgage Senior Underwriter may handle various types of mortgage lending (agency conventional, portfolio conventional, FHA/VA MI, etc.) and support other underwriters on complex loan submissions. Lending authority includes conventional, government, and jumbo loan programs up to a targeted dollar amount. Excellent phone and communication skills and a commitment to superior customer service are essential.
Responsibilities
- Evaluate the creditworthiness of borrowers and render credit decisions.
- Ensure loans meet corporate credit policy and comply with ATR and Qualified Mortgage provisions.
- Ensure compliance with company and Agency/Investor/FHA/VA guidelines.
- Review transmittal & 1003 for accuracy and completeness.
- Compare credit reports to liabilities on 1003 and verify investor guidelines for derogatory items.
- Calculate income/self-employed cash flow using required documentation and methodology.
- Analyze business financial strength and review assets for adequate funds and reserves.
- Review appraisals for accuracy and collateral acceptability.
- Ensure state and federal regulatory guidelines are met.
- Verify rate lock matches underwriting file with correct program details.
- Communicate effectively with mortgage loan officers, processors, and other stakeholders.
- Assist in training of employees on credit considerations for home lending products
- Performs other duties as assigned; duties, responsibilities and/or activities may change or new ones may be assigned at any time with or without notice
- Complies with all KeyBank policies and procedures, including without limitation, acting professionally at all times, conducting business ethically, avoiding conflicts of interest, and acting in the best interests of Key’s clients and Key.
Requirements
- 5+ years recent Mortgage Underwriting Experience (FHA, VA, and Conventional) with strong agency guideline knowledge.
- Evaluating and approving mortgage loan applications based on borrowers' creditworthiness, financial stability, and compliance with lending guidelines.
- Strong working knowledge of Ability to Repay (ATR) and Qualified Mortgage (QM) requirements.
- Having in-depth knowledge of various mortgage products, including conventional, FHA, VA, and jumbo loans, and understanding their specific requirements and guidelines.
- Proven knowledge of Mortgage Insurance guidelines and rates.
- Strong analytical skills with a focus on accuracy, consistency, and completeness.
- Ability to work in a fast-paced, fluid environment and meet minimum production standards.
- High integrity and outstanding work ethic.
- Strong computer skills; proficient in Microsoft Word, Excel, and Outlook.
- Proficient written and verbal communication skills.
- Proven knowledge of compliance and disclosure requirements related to the Home Lending industry.
- Proven knowledge of closing, post-closing, and quality control responsibilities.
- Carefully reviewing loan applications, financial statements, and supporting documents to ensure accuracy and compliance with regulations
- Making informed and timely decisions regarding loan approvals or denials based on thorough analysis and risk assessment
Nice-to-haves
- Bachelor's Degree or equivalent experience
- Experience with USDA
- DE, SAR, and LAPP certifications
Benefits
- Production, commission, and/or discretionary incentives
- List of benefits for which this position is eligible