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Underwriting Manager

Opendoor

This is a Full-time position in Plano, TX posted August 23, 2021.

Founded in 2014, Opendoor’s mission is to empower everyone with the freedom to move. We believe the traditional real estate process is broken and our goal is simple: build a digital, end-to-end customer experience that makes buying and selling a home simple, certain and fast. We have assembled a dedicated team with diverse backgrounds to support the 85,000 customers who have selected us as a trusted partner in handling one of their largest financial transactions. But the work is far from over as we continue to grow in new markets.Transforming the real estate industry takes tenacity and dedication. It takes problem solvers and builders. It takes a tight knit community of teammates doing the best work of their lives, pushing one another to transform a complicated process into a simple one.    So where do you fit in? Whether you’re passionate about real estate, people, numbers, words, code, or strategy — we have a place for you. Real estate is broken. Come help us fix it.

About the Team:

The Mortgage Loan Operations Teams strive to simplify loan procedures and processes, provide superior services to the customer and create long-term value by streamlining the origination process and originating loans in a cost-effective manner.

These objectives are accomplished through the accurate underwriting of loan documents within the company standards to assure the borrower(s) receive the appropriate documents, containing correct information on time for their scheduled closing. Proper and timely setup of the account on our underwriting system with complete and accurate information is essential to the department’s success. Mortgage pipelines must be monitored systematically to ensure timely processing of all applications.

About the Role:

The Underwriting Manager is responsible for all aspects of the daily operations within a Mortgage Underwriting Team. These operations include, but are not limited to, evaluating the mortgage loan application and documents provided by the customer in a timely manner; research and review all investors updates as it pertains to the underwriting guidelines, ensure that safe and sound underwriting decisions are made by the team and, responding and providing status information to all other internal interested parties. The Underwriting Manager is responsible for work distribution and oversight, pipeline management and adherence to service level agreements.

As Underwriting Manager, you will:

  • Manage the day-to-day activities of the assigned Mortgage Loan Underwriting Team to ensure team efficiency, accuracy and productivity.
  • Proficient in all investor and company guidelines and familiar with other Mortgage department responsibilities.
  • Communicates, demonstrates and inspires others to incorporate Opendoor’s vision and core values in daily activities.
  • Communicates underwriting guidelines changes and ensures effective implementation.
  • Assist with renegotiation of loans base on credit guidelines.
  • Analyze and review financial statements, credit reports and applicable ratios for escalated files.
  • Assist Quality Control with audit responses.
  • Underwrite complex loans, employee transactions and perform second level reviews.
  • Ensures adherence to policies, guidelines and procedures as well as compliance regulations (HMDA,
  • TILA, RESPA, HOEPA, FCRA and ECOA) and credit guidelines.
  • Ensures achievement and maintenance of department performance standards to keep loans flowing into appropriate loan operations queues.
  • Produces management reports associate with the loan origination such as productivity reports, pipeline reports, trend reports and progress reporting.
  • Coordinates with other Mortgage Loan Operations contacts to ensure work distribution and pipeline manage provide optimal service level agreements.
  • Provides measurable standards of achievement for proper management control and staff development.
  • Consistently contributes to the ongoing Mortgage Loan Operations efforts to deliver process efficiencies to reduce costs and improve quality and productivity.
  • Responsible for appropriate staffing of the team and for the oversight of all associate related issues, performance reviews and staff development within the team.
  • Manage an underwriting staff of approximately 5-10 underwriter managers.
  • Direct the underwriting activities and manage performance for underwriters and senior underwriters.
  • Manages and/or participates in various operation projects.

We’re looking for teammates who have:

  • Self-starter with the ability to plan and prioritize workload for self and others
  • Strong analytical skills and decision-making ability to make lending decisions and translate guidelines
  • Ability to work independently and as a team; ability to garner support and collaborate with others
  • Ability to motivate and manage a team of underwriters
  • Strong written and verbal communication skills
  • Strong organizational skills to manage staff and multiple priorities; and meet deadlines in a fast paced work environment
  • Ability to work collaboratively and supportively with management to achieve business objectives
  • Thorough understanding of Conventional (Fannie Mae, Freddie Mac) and Government (FHA VA)
  • VA/LAPP FHA DE preferred
  • Five (5) years of Conventional Underwriting experience
  • Two (2) years of management/leadership experience
  • Bachelor’s degree or equivalent experience from which comparable knowledge and abilities can be acquired
  • High school or G.E.D. equivalent required

More About Us:

Want to learn more about us and how we are revolutionizing the home buying and selling process? Learn more about us on our website, check out our profile on The Muse to learn more about our culture from our team members, or read our blog posts to hear about the work we are doing.

We Offer the Following Benefits and Perks:

– Full medical, dental, and vision with optional 70% coverage for dependentsFlexible vacation policy

– Educational budget to invest in your career development and growth

– Generous parental leavePaid time off to volunteer

Please note that these benefits and perks are available only to Full Time team members and do not apply to contract roles.

Our team celebrates our diverse backgrounds. We believe that being open about who we are and what we do allows us to be better. Individuals seeking employment at Opendoor are considered without regards to race, color, religion, national origin, age, sex, marital status, ancestry, physical or mental disability, veteran status, sexual orientation, gender identity or other protected status under all applicable laws, regulations, and ordinances.

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