About this role
Underwriter
Focus: Put underwriting skills to use, hone the craft, build in depth knowledge of Originations
Have in depth knowledge in:
• Everything learned in Junior Underwriter foundation • Originations Policies and SOPs, How to utilize and find documentation
• Lending Compliance Laws and Regulations (ie., ECOA, FCRA, TILA Reg.Z, etc.) • TransUnion and Experian credit bureaus information • In depth knowledge of policies and SOPs (past memorization, knows a policy & the policies surrounding a policy)
What is expected of you to do:
• Comply with lending laws/regulations (ie., ECOA, FCRA, TILA Reg.Z, etc.) • Adhere to all company, department, and Origination’s Lending policies • Escalate Policy and SOP questions using Escalation Process to ensure alignment • Continue alignment with Department Goals, KPIs, Policies and SOPs • Underwrite and decision Credit Applications efficiently and accurately • Work as many applications as possible per day to progress towards personal role advancement • Make detailed decision notes (link to SOP) on every application and save them in Norman • Expected to come prepared and participate actively in all meetings and/or forums • Review submitted income on owned applications • Take phone calls on owned applications • Monitor personal Underwriting KPIs (Key Performance Indicators) • Builds and delivers their personal weekly key performance indicators recaps for management
What is expected of you to do only w/ supervision by Senior Underwriter or Management:
• Income reviews on owned applications w/ Senior or Management supervision/review • Funding escalations on owned applications w/ Senior or Management supervision/review • Decision escalations on owned applications w/ Senior or Management supervision/review
Role Advancement Requirements:
• Pass all required Policy Exams • “Passing” score is outlined in the Policy Exams Program (LINK)
• Pass most recent Training Compliance Audits for the last X applications reviewed • “Passing” score & number of applications is outlined in the Training and Compliance Program (LINK)
• Passed most recent Training Decision Audits for the last X applications reviewed • “Passing” score & number of applications is outlined in the Policy audits & decision audits Program (LINK)
• Passed most recent Lending Policy Audits for the last X applications reviewed • “Passing” score & number of applications is outlined in the Policy audits & decision audits Program (LINK)
• Meet or exceed Key Performance Indicator metrics for Underwriter for X Months