Jumbo Mortgage Underwriter
TomoSalary not specified
Full Time
Senior (5 to 8 years), Expert & Leadership (9+ years)
Not SpecifiedCompensation
Senior (5 to 8 years)Experience Level
Full TimeJob Type
UnknownVisa
Banking, Financial Services, MortgageIndustries
Requirements
Candidates must possess an Associate's degree or two years of relevant work experience, along with four years of mortgage underwriting experience and Direct Endorsement (DE) or LAPP approval. Alternatively, candidates with an Associate's degree or two years of relevant work experience can qualify with five years of underwriting experience, including two years in a unique product area, or six years of conventional underwriting experience. A full understanding of credit risk, appraisals, and automated underwriting valuations (DU/LP) is essential. Strong verbal and written communication skills are required, as is thorough knowledge of conforming and non-conforming guidelines, risk assessment processes, and applicable industry tools for loan saleability. Federal registration under the SAFE Act is a requirement.
Responsibilities
The Mortgage Senior Underwriter is responsible for underwriting various types of mortgage loans, including conventional, FHA, and VA loans, ensuring they meet M&T Bank and secondary market standards. They must assess credit and collateral risk to guarantee loan saleability and sound credit quality, while also adhering to federal and state laws and regulations. This role involves responding to and resolving post-closing issues, assisting management with clearing conditions for expedited closings, and staying current on loan underwriting practices, investor guidelines, and M&T guidelines. The underwriter will also perform monthly re-underwriting and verification of a sample of loans to ensure documentation accuracy and maintain internal control standards.
Skills
Mortgage Underwriting
Conventional Loans
FHA Loans
VA Loans
AUS
Manual Underwriting
Risk Assessment
Credit Analysis
Collateral Evaluation
SAFE Act Registration
Investor Guidelines
Federal Regulations
State Regulations
Compliance
Loan Closings
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