Underwriting Coach

Discover Financial Services - Riverwoods, IL3.9

Full-timeEstimated: $71,000 - $94,000 a year
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At Discover, be part of a culture where diversity, teamwork and collaboration reign. Join a company that is just as employee-focused as it is on its customers and is consistently awarded for both. We’re all about people, and our employees are why Discover is a great place to work. Be the reason we help millions of consumers build a brighter financial future and achieve yours along the way with a rewarding career.

This position assists in the leadership and education of the team of underwriting professionals responsible for providing quality loan decision on a variety of mortgage loan products with a high degree of confidentiality. Acts as a resource to the underwriting team members, and provide guidance on the interpretation of the Underwriting Guidelines. Assists in identifying Loan Origination System and Loan Production Guideline gaps to eliminate roadblocks, improve clarity and facilitate an efficient and productive Underwriting shop. Supports the Underwriting Leadership by providing feedback on Underwriter performance on quality and productivity metrics. Supports new hire and ongoing team development. Leverages results from quality teams and incorporate information with other metrics to use as a development tool. Partners effectively with sales, fulfillment operations teams, support functions and leaders, with a collaborative approach and sense of urgency.

Responsible for reviewing, analyzing, underwriting, evaluating, and approving and denying consumer mortgage residential applications in accordance with company guidelines, business and credit standards, and applicable laws and regulations.

Responsibilities

Maintains company service levels and turn-time standards.
Validates loan documentation against product criteria.
Partners with management and the review team to calibrate first-level decisions. Provides recommendations to improve the underwriting process.
Performs income, collateral and credit reviews to make final underwriting decisions.
Act as resource to the underwriting team members, answers questions regarding the interpretation of Loan Production Guidelines.
Provide feedback to the Team Lead (Assistant Manager) on a regular basis on each underwriters underwriting ability. Identify gaps in LPG and make recommendations for improvement.
Escalate all status updates and results to Team Leads and Department Manager on a daily basis. Utilize the information from the quality reviews to provide feedback to the Team Lead (Assistant Manager) and make recommendations regarding the underwriters performance on any valid defects.
Assist in the onboarding of new hires.
Must understand underwriting guidelines and be able to incorporate industry norms and demonstrate good judgement in the absence of clear guidelines.
Underwrite minimum of 5 files per month, to ensure underwriting skills and familiarity with LOS.
Minimum Qualifications

At a minimum, here’s what we need from you:
H.S. Diploma or GED
4+ years of experience in Mortgage or Home Equity Lending/banking or related field
2+ years of experience in Mortgage or Home Equity Underwriting or related field
Preferred Qualifications

If we had our say, we’d also look for:
Associate’s Degree
Extensive experience and demonstrated ability to analyze and underwrite complex senior level loan submissions including self-employed borrowers, rental properties, variable income, and all property valuation types.
Demonstrated ability to consistently meet or exceed quality and productivity metrics.
Ability to read and understand complex mortgage industry terminology and guidelines.
Demonstrated ability to manage daily workflow effectively and efficiently.
Understands Federal Regulations and Compliance guidelines.
Ability to navigate and understand basic mortgage industry LOS software.
Proficiency in math.
Exhibits excellent time management. Plans and organizes effectively to prioritize daily workload to achieve volume goals.
Ability to handle multiple priorities including cross department initiatives.
Adapts to change easily.
Excellent written communication and interpersonal skills.
Ability to continue learning through subsequent files and demonstrated advanced business acumen.
Demonstrates ability to share business acumen with other team members to support overall learning and development of the department.
Discover Financial Services is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran status, among other things, or as a qualified individual with a disability.