What are the responsibilities and job description for the Underwriting Manager position at Pennymac?
Pennymac (NYSE: PFSI) is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market.
At Pennymac, our people are the foundation of our success and at the heart of our dynamic work culture. Together, we work towards a unified goal of helping millions of Americans achieve aspirations of homeownership through the complete mortgage journey.
A Typical Day
The Underwriter Manager is responsible for managing and supporting the underwriting function in alignment with department policies, practices and standards. As the Underwriter, you will manage an underwriting staff of approximately 5-10 underwriters
The Underwriter Manager will:
- Ensure underwriting quality meets company and investor standards
- Carry out personnel management including hiring, counseling, training
- Continuously evaluate processes to ensure application of best practices and maximize staff utilization
- Provide support to production staff regarding underwriting and credit policy matters
- Complete second reviews of loan files and resolves exception cases
- Perform other related duties as required and assigned
- Demonstrate behaviors which are aligned with the organization’s desired culture and values
What You’ll Bring
- Bachelor’s degree or equivalent work experience
- 5 years of relevant work experience
- 2 years of Underwriting Manager experience
- Current and extensive knowledge of FNMA/FHLMC, FHA, and VA program guidelines.
- Experience analyzing financial statements for high net worth borrowers
- A thorough understanding of cash flow methodology for complex tax returns including, but not limited to, partnerships, corporations, S-corporations, as well as, treatment of capital gains and trust income
- Must be highly proficient in Excel and Word
Why You Should Join
As one of the top mortgage lenders in the country, Pennymac has helped over 4 million lifetime homeowners achieve and sustain their aspirations of home. Our vision is to be the most trusted partner for home. Together, 4,000 Pennymac team members across the country are guided by our core values: to be Accountable, Reliable and Ethical in all that we do.
Pennymac is committed to conducting a business that makes positive contributions and promotes long-term sustainable growth and to fostering an equitable and inclusive environment, where all employees and customers feel valued, respected and supported.
Benefits That Bring It Home: Whether you're looking for flexible benefits for today, setting up short-term goals for tomorrow, or planning for long-term success and retirement, Pennymac's benefits have you covered. Some key benefits include:
- Comprehensive Medical, Dental, and Vision
- Paid Time Off Programs including vacation, holidays, illness, and parental leave
- Wellness Programs, Employee Recognition Programs, and onsite gyms and cafe style dining (select locations)
- Retirement benefits, life insurance, 401k match, and tuition reimbursement
- Philanthropy Programs including matching gifts, volunteer grants, charitable grants and corporate sponsorships
To learn more about our benefits visit: https://pennymacnews.page.link/benefits
Compensation: Individual salary may vary based on multiple factors including specific role, geographic location / market data, and skills and experience as defined below:
- Lower in range - Building skills and experience in the role
- Mid-range - Experience and skills align with proficiency in the role
- Higher in range - Experience and skills add value above typical requirements of the role
Some roles may be eligible for performance-based compensation and/or stock-based incentives awarded to employees based on company and individual performance.
Salary
$68,000 - $115,000
Work Model
OFFICE
Salary : $68,000 - $115,000
