AZ-Underwriting Supervisor

Our firm is a wholesale correspondent lender that develops and underwrites home loan programs, giving professional mortgage brokers the ability to sell loans directly to Wall Street. Our online decision engine, BearDirect.net, generates pricing information, loan terms, findings reports and approvals quickly and reliably.

As a wholly owned subsidiary of The Bear Stearns Companies Inc., we believe we offer unique benefits to our clients. Bear Stearns has been an industry leader in the origination, underwriting, structuring and trading of all types of mortgage securities for over 20 years. We tap into these analytical and intellectual resources to offer our clients a broad range of distinctive loan packages at competitive prices.

Provide supervision of the wholesale underwriting team. Monitor the volume of loans submitted to underwriting, ensuring timely decisions and communication to both internal and external customers. Maintain loan quality and manage risk by ensuring procedures are in place to meet compliance requirements and adherence to BSRM underwriting guidelines. Ensure the accuracy and data input in BearDirect and Unifi
systems.

Essential Job Functions
•Supervision of underwriters ensuring BSRM policies and procedures with respect to turnaround, guidelines, lending limits and quality decisions are maintained. Ensuring compliance with state, federal and regulatory agencies.
•Provide product and underwriting training to new and existing underwriters, Account Executives, brokers, correspondents and internal sales and operations staff.
•Ensure the completeness and accuracy of input to the BearDirect and Unifi systems.
•Utilize reports to proactively monitor and expedite volume.
•Provide second signature and review on all declined loans, recommend alternatives whenever possible and ensure preparation and delivery of the Adverse Action documentation in compliance with ECOA and FCRA.
•Provide management with recommended changes/enhancements to the BSRM guidelines.
•Assist manager in addressing quality issues; identify areas of credit, collateral and documentation requiring resolution and/or underwriter coaching.
•Inform manager of any critical personnel or performance issues observed. Provide feedback that will assist manager in assessing performance or disciplinary action.
•Maintain a high standard of customer service, demonstrating a sense of urgency in decision making and communication.
•Partners with manager in understanding what is expected of the underwriting team and how performance will be measured, leveraging coaching and feedback opportunities.
•Attend external classes/seminars/workshops focused on supervisory skills and techniques.
•Assist in underwriting mortgage loans during high volume periods.
•Partner with sales and underwriting in a loan review as part of the Escalation Process.
REQUIREMENTS
Requirements/Skills
•Bachelor’s degree or equivalent experience.
•Minimum 5 years experience underwriting 1st and 2nd lien mortgage loans, with minimum 2 years supervisory experience.
•Strong knowledge of risk assessment and agency guidelines.
•Proficient with automated underwriting systems.
•Possess strong analytical, problem solving and decision making skills.
•Excellent customer service skills with a strong proficiency in written and verbal communication skills.
•Advocate change, lead by example, promoting a mindset of continuous improvement.
•Encourage open communication and contribute to maintaining a respectful workplace.
•Demonstrates professional behavior, cultivates a team environment, is dependable and can meet deadlines under pressure.
Bear Stearns is an equal opportunity employer. Bear Stearns considers all applicants for employment without regard to race, color, religion, gender, national origin, age, disability, marital status, sexual orientation, veteran status, or any other legally protected category under federal, state or local l