Collateral Underwriter

The Federal Savings Bank; New York (NY); Remote; USD 70,000 - 90,000; Full time

Job summary

The Federal Savings Bank is seeking a Collateral Underwriter to join their Appraisal Management department. This role involves reviewing appraisals, ensuring compliance with guidelines, and managing appraisal workflows. Applicants should be flexible and detail-oriented, with a strong background in collateral underwriting. The position offers remote work options and various employee benefits.

Benefits

Remote/work from home benefit

7 paid holidays

PTO that increases with length of employment

Medical, Dental, and Vision insurance

Company-paid life insurance

Partial 401k match

Employee Assistance Program (EAP)

Ongoing in-house training opportunities

Employee recognition on a national scale

Qualifications

• 2+ years’ recent experience in collateral or credit/collateral underwriting.
• Knowledge of all appraisal guidelines and AIR requirements.

Responsibilities

• Review and evaluate appraisals to confirm value is supported.
• Manage a daily pipeline of appraisals.
• Keep informed on updates to Agency appraisal guidelines.

Skills

Attention to Detail

Multitasking

Communication

Education

4-year degree

Tools

Encompass

Microsoft Office Suite

Job description

Description

The Federal Savings Bank, a national bank with a focus on residential mortgage lending, is currently seeking a Collateral Underwriter for our Appraisal Management department. The Collateral Underwriter plays an important role in the review and evaluation of appraisals to confirm value is supported. This position reports to the Vice President of Collateral Underwriting.

Applicants should be available to work in alignment with Pacific time and be flexible in their availability to work evenings as needed.

Duties and Responsibilities:

• Fully understand enhanced conditions workflow within Encompass
• Manage a daily pipeline of appraisals
• Devise opinion on quality of appraisal and justification used by the Appraiser in determining a valuation
• Review appraisal to determine if any revisions or updates are needed by the Appraiser
• Keep informed on updates to Agency (FNMA & FHLMC), FHA, and VA appraisal guidelines
• Review CU and LCA scores to ensure any alerts are addressed
• Utilize Fannie Mae's Collateral Underwriter when assessing comparables to ensure value supported

Requirements

• 4-year degree or commensurate mortgage experience
• 2+ years’ recent experience in collateral or credit/collateral underwriting
• Proficiency with Encompass (required)
• Active SAR and DE (required)
• Favorable credit history and background
• Applicants must demonstrate attention to detail, the ability to multitask, and a strict adherence to deadlines
• Proficiency with Microsoft Office Suite
• Knowledge of all appraisal guidelines and AIR requirements
• Flexible with work schedules especially during peak volume periods & month-end
• Excellent communication skills both inside and outside the organization
• Available to work 9:00am-6:00pm Pacific Time w/ flexibility for extended hours as dictated by business needs (preference for candidates physically residing in Pacific Time zone)

What We Offer:

• Remote/work from home benefit
• 7 paid holidays
• PTO that increases with length of employment
• Medical, Dental, and Vision insurance
• Company-paid life insurance
• Partial 401k match
• Employee Assistance Program (EAP) to support work/life balance
• Ongoing in-house training opportunities to sharpen your saw
• Employee recognition on a national scale
• Small bank culture with big bank capabilities

The Federal Savings Bank is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.