What are the responsibilities and job description for the Underwriting Team Lead position at loanDepot?
Position Summary
Responsible for overseeing the daily operations of the underwriting team. Ensures the performance of all duties in accordance with the company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.
Responsibilities
loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster, and less stressful to purchase or refinance a home. Today, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional, and national philanthropic efforts.
Base pay is one part of our total compensation package and is determined within a range. This provides the opportunity to progress as you grow and develop within a role. The base pay for this role is between $37.98 and $50.50/hr. Your base pay will depend on multiple individualized factors, including your job-related knowledge/skills, qualifications, experience, and market location.
We are an equal opportunity employer and value diversity in our company. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
Responsible for overseeing the daily operations of the underwriting team. Ensures the performance of all duties in accordance with the company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.
Responsibilities
- Answers and underwrites unusual or complex individual consumer requests and products within company and industry guidelines, within signing authority limits.
- Reviews financial statements, credit reports and applicable ratios (i.e., DTI and LTV) and assists in analyzing, if required.
- Evaluates and examines transactions to ensure accuracy, completeness, and compliance with investor and company guidelines.
- Ensures documents are consistent and uphold to company and industry guidelines.
- Identifies red flags on documentation.
- Performs timely compliance reviews.
- Communicates rationale behind credit decisions in order to educate and develop growth in underwriters.
- Communicates effectively with internal staff to maintain high level of customer service.
- Partners with operations, processing, production, and other internal departments.
- Completes new loans, in addition to resubmissions, to help stabilize team workload.
- Adheres to department turnaround standard of 48 – 72 hours.
- Trains and mentors new employees.
- Assists with questions and issues on guidelines and loan files.
- Assists Regional Underwriting Manager in daily pipeline management to ensure team is meeting Service Level Agreements, on-time closings, and ECOA guidelines.
- Performs other duties and projects as assigned.
- High School Degree or equivalent required and a minimum of five (5) years of successful professional experience within the mortgage lending industry.
- Bachelor’s Degree preferred.
- Minimum of one (1) years of successful FHA and Conventional underwriting required.
- Valid and current FHA Direct Endorsement (DE) certification required.
- Proficiency in Desktop Underwriter (DU) and Loan Prospector (LP) Programs required.
- Aggressive compensation package based on experience and skill set.
- Inclusive, diverse, and collaborative culture where people from all backgrounds can thrive.
- Work with other passionate, purposeful, and customer-centric people.
- Extensive internal growth and professional development opportunities including tuition reimbursement.
- Comprehensive benefits package including Medical/Dental/Vision.
- Wellness program to support both mental and physical health.
- Generous paid time off for both exempt and non-exempt positions.
loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster, and less stressful to purchase or refinance a home. Today, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional, and national philanthropic efforts.
Base pay is one part of our total compensation package and is determined within a range. This provides the opportunity to progress as you grow and develop within a role. The base pay for this role is between $37.98 and $50.50/hr. Your base pay will depend on multiple individualized factors, including your job-related knowledge/skills, qualifications, experience, and market location.
We are an equal opportunity employer and value diversity in our company. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
Salary : $38 - $51