Senior Underwriting Manager

Valon Lending

Valon is currently scaling up its mortgage lending business, which aims to provide the ability to access low-cost, streamlined mortgage credit to Valon borrowers and tools to retain borrowers in their portfolio for Valon partners. We are looking for experienced and innovative individuals to help build our team and business who are eager to change the mortgage industry for the better.

About this Role

The Director of Underwriting will lead Valon Lending’s loan underwriting program. This individual will oversee all underwriting personnel and report directly into the GM of Lending. This will be a highly dynamic role, and the Director of UW will be expected to define and scale a best-in-class UW operation in conjunction with Valon’s technology and product teams.

Responsibilities

• Manage the UW organization
• Oversee all underwriting operations
• Establish, monitor, and update Valon Lending’s UW policies and procedures
• Inform overall Valon mortgage lending policies and procedures in conjunction with other function heads and management
• Establish OKRs, KPIs, and other relevant metrics to measure UW program success
• Engage with loan investors, agencies, insurers, and regulators on external reviews and ongoing operations
• Identify opportunities to remove inefficiencies and increase automation of the UW program and the overall lending operation
• Lead all UW personnel training
• As needed, manage an individual UW pipeline

Minimum Qualifications

• 10+ years of conventional mortgage underwriting experience
• 5+ years of underwriting management experience
• 3+ years of FHA DE underwriting experience (TOTAL Scorecard and Manual)
• FHA DE required
• Deep knowledge of Fannie Mae/DU, Freddie Mac/LPA, and FHA guidelines and automated underwriting systems
• Ability to critically examine credit, income, assets, title, and appraisals for adherence to company, investor, and GSE underwriting guidelines
• Understanding of relevant mortgage industry federal regulation, including RESPA, TILA, ECOA, TRID, CFPB, etc.
• Must be willing to get hands on with individual files. This is not a role that will be removed from the day-to-day management of an active underwriting org.

Ideal Background

• Bachelor’s degree or equivalent work experience
• 3+ years of using Encompass LOS (ICE Technology/EllieMae)
• Experience building an underwriting organization from scratch, including developing procedures, work aids, and team structure
• Team player with the ability to work effectively across functional areas
• Readily willing to admit when UW was incorrect, but sufficiently confident to defend correct UW decisions
• Relies on guideline citations rather than appeals to authority or arbitrary discretionary overlays
• Strong communicator with excellent writing skills
• High integrity with strong ethical values

Benefits

• Salary
• Medical, Dental, and Vision insurance plans
• 15 vacation days, 5 sick days, and 11 paid company holidays
• Monthly lunch stipends (groceries qualify!)
• Commuter benefits
• Retirement plans
• PC laptop