Mortgage Senior Underwriter

United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial Services, MortgageIndustries

Requirements

A minimum of 4 years of mortgage underwriting experience is required, with a preference for candidates with Direct Endorsement (DE) or LAPP approval. Alternatively, candidates may have 5 years of underwriting experience including 2 years on a unique product, or 6 years of conventional underwriting experience. A degree is not required if the candidate possesses 2 years of relevant work experience. Thorough knowledge of DU/LP valuations, conforming and non-conforming guidelines, credit risk, appraisals, and risk assessment is essential. Strong communication skills are also necessary.

Responsibilities

The Mortgage Senior Underwriter will underwrite conventional, FHA, and VA residential mortgage loans according to product and investor guidelines, ensuring compliance with federal and state laws. Responsibilities include performing risk assessments on credit and collateral, responding to post-closing issues, assisting with condition clearing and loan closings, and staying informed about industry practices and guideline changes. The role also involves re-underwriting a monthly sample of loans for accuracy and maintaining federal registration requirements under the SAFE Act.

Skills

Mortgage Underwriting

Government Loans

Conventional Loans

FHA Loans

VA Loans

AUS

Manual Underwriting

Risk Assessment

Credit Analysis

Collateral Evaluation

SAFE Act Registration

Investor Guidelines

Federal Laws

State Laws

Regulatory Compliance

M&T Bank

Full-service banking for individuals and businesses

About M&T Bank

M&T Bank provides a variety of banking services to individuals, small businesses, and larger companies. Their offerings include mortgage assistance, personal and business checking accounts, and mobile banking options. The bank primarily operates in the Northeastern and Mid-Atlantic regions of the United States, emphasizing community engagement and a focus on customer service. M&T Bank's business model is based on traditional banking practices, such as loans, deposits, and investment products, and it generates revenue through interest income and service fees. A key aspect that sets M&T Bank apart from its competitors is its commitment to community involvement, which includes allowing employees to volunteer and supporting local organizations. The recent merger with United Bank, N.A. has further expanded their services and market presence.

Buffalo, New YorkHeadquarters

1993Year Founded

IPOCompany Stage

Financial ServicesIndustries

10,001+Employees

Risks

Competition from fintechs could erode M&T Bank's market share among tech-savvy customers.

Integration challenges from the United Bank merger may disrupt operations.

Decreased prime rate could reduce interest income, impacting profitability.

Differentiation

M&T Bank emphasizes community engagement through its charitable foundation and volunteer programs.

The bank offers a wide range of traditional and digital banking services.

Recent merger with United Bank, N.A. expands M&T's market reach and service offerings.

Upsides

M&T Bank's $1.5 billion senior notes offering strengthens its financial position.

Decreased prime rate may attract more borrowers, increasing loan volume.

Shannon Lazare's appointment as New Jersey Regional President enhances local community engagement.

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