Discover
We power a network that helps people achieve a brighter financial future.
Riverwoods, IL
Remote
Hybrid

Sr Mortgage Underwriter, Discover Home Loans (Remote)

Sorry, this job was removed at 10:45 a.m. (CST) on Thursday, November 4, 2021
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Discover. A brighter future.

With us, you’ll do meaningful work from Day 1. Our collaborative culture is built on three core behaviors: We Play to Win, We Get Better Every Day & We Succeed Together. And we mean it — we want you to grow and make a difference at one of the world's leading digital banking and payments companies. We value what makes you unique so that you have an opportunity to shine.

Come build your future, while being the reason millions of people find a brighter financial future with Discover.

Job Description  

  • Discover Home Loans is the #1 lender of closed-end second mortgages, according to 2019 HMDA data on total number of funded loans which is available at FFIEC Home Mortgage Disclosure Act website.
  • Discover Home Loans is the top lender in the U.S. for closed-end second mortgages, based on 2019 HMDA data for total number of funded loans, available at FFIEC Home Mortgage Disclosure Act website.
  • Discover Home Loans helped more homeowners get a closed-end second mortgage than any other lender in 2019, according to HMDA data on total number of funded loans which is available at FFIEC Home Mortgage Disclosure Act website

Responsible for reviewing, analyzing, underwriting, evaluating, and approving and denying consumer mortgage residential applications in accordance with company guidelines, business and credit standards, and applicable laws and regulations. 

Responsibilities 

  • Maintains company service levels and turn-time standards. 
  • Validates loan documentation against product criteria. 
  • Provides excellent customer service and partners with sales and fulfillment teams effectively Maintains confidentiality
  • Partners with management and the review team to calibrate first-level decisions.
  • Provides recommendations to improve the underwriting process. 
  • Performs income, collateral and credit reviews to make final underwriting decisions. 
  • Exercises good judgment and decision-making skills using a risk based approach. Utilizes resources to research unfamiliar underwriting situations and is able to present complex scenarios succinctly and with comprehensive options/solutions to leadership.
  • Exhibits excellent time management. Plans and organizes effectively to prioritize daily workload to achieve volume goals.
  • Ability to handle multiple priorities including cross department initiatives.
  • Helps leaders drive department production & quality goals.
  • Works independently and as a team member
  • Ensure an attention to detail and validates the accuracy for the loan submission
  • Understands Federal Regulations and Compliance guidelines

Full Time Benefits 

Our comprehensive benefits package starts day one and features insurance, financial planning support and excellent perks designed to help you reach your goals and live a rich, healthy life. These include: 

· Medical/Dental/Vision/Life Insurance 

· Paid time off (at minimum, 20 personal days + 7 holidays per year) 

· Tuition Reimbursement for eligible US based employees 

· 401K with company match and fixed contribution 

· Employee Stock Purchase Plan 

· Full service cafeteria featuring Starbucks and subsidized Mindful options 

· Access to fitness center 

· Opportunities to volunteer in the community 

· Development groups and training 

· On-site Health Clinics 

· Onsite Employee Assistance Program Counselors 

· Discover Care@Work Family Assistance Program (Discounted childcare at participating centers, free care.com membership, and subsidized Backup Care Services) 

· Perks at Work (access discounts from over 30,000 merchants, earning WOWPoints while you shop) 

Minimum Qualifications 

At a minimum, here’s what we need from you: 

  • High School Diploma or GED
  • 4+ years of experience of manual underwriting of mortgage loan submissions with complete responsibility to decision all components/documentation of the loan file

Preferred Qualifications 

If we had our say, we’d also look for: 

Manual underwriting includes all of the following:

  • Demonstrated ability to analyze and underwrite all complex senior level loan submissions including all types of self-employed borrowers, all corporate tax returns, rental income and all variable income types
  • Review of Title Reports/Policies including liens, judgements, and title exceptions
  • Review of all appraisal types including PCR-Property Condition Report; AVM-Automated Valuation Model; DVI-Desktop Valuation with Inspection; Fannie Mae Form 1004MC or Freddie Mac Form 70; 2055i-Single Family Residential Appraisal ; 1075-Condo Residential Appraisal
  • Review of all other documentation included in a loan submission including review of Homeowners and Flood Insurance policies.

· Associate's Degree

· Adapts to change easily

· Excellent written communication and interpersonal skills

· Ability to continue learning through subsequent files and demonstrated advanced business acumen

· Demonstrates ability to share business acumen with other team members to support overall learning and development of department

· Ability to work in fast paced environment

· Utilizes Microsoft Office Suite tools and Loan Origination Platforms

· 3-5 years Mortgage or Home Equity Underwriting experience AND 3-5 years in other Mortgage or Home Equity lending/banking experience

· Extensive experience and demonstrated ability to analyze and underwrite complex senior level loan submissions including self-employed borrowers, rental properties, variable income, and all property valuation types.

· Demonstrated ability to consistently meet or exceed quality and productivity metrics

· Ability to navigate and understand basic mortgage industry LOS software

· Proficiency in math

· A quiet workspace (no background noises that can hinder customer interactions)

· Internet service with a minimum speed of 5mbps 

· Personal smartphone or a tablet

Individuals in this position are required to comply with all rules and regulations of The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (The SAFE Act). Employees hired or transferring into this position will need to meet the qualification requirements, in DISCOVER FINANCIAL SERVICES sole discretion, under Reg. Z, prior to acting as a loan originator in any capacity, with access to consumer credit transactions secured by a dwelling. Qualification requirements include but are not limited to an assessment of overall financial responsibility, character, and general fitness through review of a criminal background check, credit report, and information about any administrative, civil, or criminal findings by any government jurisdiction.

INDDFS

ZRDFS

#Remote

#BI-Remote

#LI-135478926_RW1

What are you waiting for? Apply today!

The same way we treat our employees is how we treat all applicants – with respect. Discover Financial Services is an equal opportunity employer (EEO is the law). We thrive on diversity & inclusion. You will be treated fairly throughout our recruiting process and without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status in consideration for a career at Discover.

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What are Discover Perks + Benefits

Discover Benefits Overview

Start enjoying great benefits Day 1 — We support you with the same dedication we bring to all of our customers. Our comprehensive benefits package features first-class insurance, financial planning support and excellent perks designed to help you reach your goals and live a rich, healthy life.

Check out more of our amazing employee benefits at mydiscoverbenefits.com

Culture
Volunteer in local community
Discover’s business is built on helping people, and we invest in the community (Blessing Backpacks, Boys & Girls Clubs, Big Brothers/Sisters) to demonstrate our commitment to a brighter future.
Partners with nonprofits
Open door policy
OKR operational model
Team based strategic planning
Open office floor plan
Flexible work schedule
Remote work program
Diversity
Dedicated diversity and inclusion staff
Mandated unconscious bias training
Diversity manifesto
Diversity employee resource groups
Hiring practices that promote diversity
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
You can open a separate Health Care FSA (HCFSA) and contribute up to $2,650 tax-free from your paycheck to reimburse yourself for eligible out-of-pocket expenses.
Disability insurance
Employees receive Short-Term Disability Insurance at no cost.
Dental insurance
Discover offers two dental plan options — Standard and Premier — both are administered by MetLife.
Vision insurance
Discover offers two vision plan options — Standard and Premier through VSP.
Health insurance
Discover offers a variety of medical plans for you and eligible family members, so that you can choose the benefit plan that suits your needs.
Life insurance
As a Discover employee, you receive Basic Life Insurance of one times your HWEE (up to $500,000) at no cost to you.
Pet insurance
Purchase medical coverage at a discounted rate for your beloved family pet. The more pets you insure, the greater the discount.
Wellness programs
Help balance your work and personal life with a wide variety of free and discounted resource and referral services including family and relationship counseling and financial guidance.
Mental health benefits
Financial & Retirement
401(K)
You may elect to contribute 1% to 30% of your eligible base salary, commissions and bonus on a pre-tax basis, up to IRS limits every year.
401(K) matching
Discover matches up to 6% of the pre-tax contributions you make to the 401(k) Plan.
Employee stock purchase plan
The ESPP provides eligible employees with an opportunity to purchase shares of Discover common stock through payroll deductions at a 5% discount.
Performance bonus
Charitable contribution matching
Child Care & Parental Leave Benefits
Childcare benefits
Generous parental leave
Family medical leave
Adoption Assistance
Discover helps eligible employees and their families with the costs of adoption by reimbursing certain expenses.
Company sponsored family events
Vacation & Time Off Benefits
Generous PTO
Discover has a Paid Time Off of 4 to 5 Weeks of paid time per year.
Paid volunteer time
Paid holidays
Discover provides 7 paid holidays.
Paid sick days
Office Perks
Commuter benefits
When you enroll in the Commuter Benefits Program at WageWorks, you’ll save on taxes on mass-transit passes, parking and other eligible expenses.
Company-sponsored outings
Onsite office parking
Recreational clubs
Relocation assistance
Fitness stipend
Onsite gym
Discover has fitness centers and Weight Watchers® programs at all five major locations.
Professional Development Benefits
Job training & conferences
Tuition reimbursement
Discover provides tuition reimbursement and a full-ride bachelor's degree program for select online degree programs.
Lunch and learns
Promote from within
Mentorship program
Continuing education stipend
Continuing education available during work hours
Online course subscriptions available
Customized development tracks

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