Mortgage Underwriting Officer

Job Description: In this role, the incumbent will prepare, communicate, interpret and ensure adherence to credit policies, procedures and underwriting guidelines for first and home equity mortgage products. In addition, the job holder will review existing credit policies, program offerings and performance of loans, obtain approval for changes to credit/risk policies to maintain appropriate level of risk/reward. Ensure proper usage of automated underwriting systems. Manage the process of Delegating Underwriting to mortgage staff, Correspondents and Mortgage Insurance Companies. Will also provide related training and support.



Additional responsibilities include:



- Maintain, modify and/or amend current Company mortgage credit policy guidelines, policies and procedures; provide underwriting interpretations on Company, investor and secondary market requirements. Ensure adherence to policies, procedures and guidelines for conformance to stated specifications.



- Review Underwriting and Product guidelines of Correspondents selling loans to HSBC through the Conduit channel. Review loan pools for adherence to HSBC policies and risk tolerance.



- Review Correspondents for Delegated Underwriting Authority, monitor and report on performance.



- Review Correspondents for Third Party Originations, monitor and report on performance.



- Annual review of Contract Underwriting Companies, including financial condition and underwriting performance.



- Initial review of Loan Officers for Limited Lending Authority, annual review and reporting on underwriting performance.



- Train and provide on-going technical support to underwriting personnel in underwriting and risk assessment. Support the development and education of all parties possessing credit authority including the distribution of instructional materials and offering of classes.



- Track and report on credit policy exceptions, ensuring management awareness of the types, amounts and justifications for portfolio exceptions.



- Maintain, modify and amend Company credit policy guidelines and procedures for use of artificial intelligence and automated underwriting systems; support automated underwriting and credit scoring systems and usage. Monitor and evaluate underwriting systems to expand their usage while maintaining data integrity and providing acceptable risk levels.



- Design the logic for rules-based origination system to ensure adherence to Company credit policy related to loan parameters and underwriting guidelines.



- Review underwriting, ensuring compliance with respective loan underwriting policies and identifying risk trends. Work with investor, Audit and Quality Control to resolve disputed underwriting issues.



- Support the Company’s Diversity programs. Adhere strictly to compliance and operational risk controls in accordance with HSBC and regulatory standards, policies and practices; report control weaknesses, compliance breaches and operational loss events.



- Adhere strictly to compliance and operational risk controls in accordance with HSBC and regulatory standards, policies and practices; report control weaknesses, compliance breaches and operational loss events.



- Complete other related duties as assigned, support the Company’s Diversity programs.



The position approves loans up to $1 million and grants policy exceptions. The position clarifies and interprets credit policies and guidelines related to mortgage and home equity products and recommends credit authority levels for mortgage personnel. The position creates policies for presentation to Credit Policy. The position reviews loan pools up to $300,000,000. Decisions beyond assigned authority are referred to higher management for approval.

Job Experience:
This position requires an individual with:

- Minimum of seven years proven and progressive national underwriting experience or equivalent, including use of artificial intelligence.

- Bachelors degree in business, related field or equivalent experience.

- FHA, VA and/or PMI designation or equivalent.

- MS Word and MS Excel proficiency required.

- Proven analytical, problem-solving, communications, presentation, interpersonal and organizational skills.

- Familiarity with automated underwriting systems, including FNMA’s Desktop Underwriter and FHLMC’s Loan Prospector systems for use on conventional, FHA, VA and non-conforming loans as well as understanding of rules-based systems.

- Knowledge of the mortgage business and pertinent regulations impacting the credit process for the business.

- Ability to resolve difficult, sensitive and disputed underwriting issues with correspondents, originators and other areas of the business.


HSBC CompensationHSBC is a pay for performance company with policies and programs designed to ensure all employees receive fair and equitable compensation based on performance. Our compensation program is designed to attract, motivate, develop and retain the very best people.



HSBC Benefits
We are proud of our comprehensive flexible benefit program. Our program allows our employees to select the features that make the most sense for their individual and/or dependent(s) needs. Our benefit features include, but are not limited to; medical, prescription drug, dental, vision, life insurance, short and long term disability, retirement plans, stock option purchase plan, and a competitive time off program.

Searchable Keywords: Underwriting, Underwriter, Credit Policy / gj-mo

Minimum Education Required: Bachelor

Years of Experience Required: More than 5 years

Expected Travel Time: None