Prospect Mortgage Career Opportunities
Please note that this position is no longer available.
If you would like to be considered for similar opportunities now or in the future, feel free to apply and/or set up a notifier for yourself.
Regional Underwriting Manager
MA - Wakefield
or
Apply with

Regional UW Manager

Title: Regional DE Underwriting ManagerLocation: Wakefield, MA, Opportunity Snapshot As an experienced Underwriter, you obviously have the technical horsepower to underwrite a high volume of quality loans as you explore creative, outside-the-box solutions to structure the deal. But what sets you apart from other Managers is your ability to get extraordinary achievement from ordinary people. You make a religion out of being accessible to your team and take tremendous pride in your work ethic, bias for self-action and compulsion to share as you energize those whom you lead…Now is the time join Prospect Mortgage, a company with a unique business model that has revolutionized the retail mortgage industry. Fueled by a solid national sales infrastructure, talented senior leadership, and strong capital backing, we are positioned for high growth while most of our competitors are going out of business.  A significant portion of our business (up to 60%) is focused on government loans and to be a good fit for this opportunity you will bring solid expertise in managing FHA/VA loans. The ideal candidate will bring a progressive track record of success in underwriting both conventional and government loans and possess the highly coveted DE certification. Of course, as in any role that requires collaboration with such diverse stakeholders—including Investors, Loan Officers and Underwriters—you will take a proactive and innovative approach to building strong relationships and maintaining high levels of communication. You will also flex your analytical muscle as you quickly troubleshoot and resolve issues for non-saleable loans and continually look for improvements in our systems/processes to push us to the next level. Established in 2006, Prospect Mortgage specializes in acquiring midsized residential lenders, providing them with capital, cost-efficiencies, and increased resources while maintaining a decentralized, entrepreneurial business model. We've created a team-oriented, energetic, and upbeat culture with a focus on success. Prospect is backed by Sterling Partners, a multibillion dollar private equity fund based in Chicago and Baltimore.  What Else You'll Bring to the Table In addition to the qualifications detailed above, you'll need:
  • Bachelor’s degree in Business Administration or equivalent combination of education & experience along with a DE in Underwriting..
  • 5-7 years of hands-on experience managing a complex underwriting operation.
  • Leadership prowess and ability to supervise and mentor people.
  • Skill in collecting and analyzing data and drawing logical conclusions, including interpretation of complex charts, graphs, documents and manuals.
  • Solid knowledge of credit policies/procedures and underwriting guidelines.
  • Excellent communication and organization skills.
  • Ability to multi-task and operate in a high-volume, fast-paced environment.
  • Computer proficiency in a Microsoft Office environment.
  • Ability to travel nationwide (around 5%) as needed.

 What's in It for You·         Influence & impact within a fresh business model – we are positioned for success and being a small, young company, you will get to "own" everything that has to do with our regional underwriting operation. You’ll also have the opportunity to refine and improve the operation as we go along and drive underwriting best practices that can be adopted at the national level.
  • Growth opportunity -- our dynamic work environment positions learning in the forefront and there will be ample opportunities to expand your role; you’ll also enhance your competencies as you gain exposure to an evolving spectrum of complex government and conventional loans.
  • Personal autonomy -- you'll be empowered to take ownership of your objectives and to achieve your goals on your own initiative in a flat, results-oriented environment.
  • Optimistic work environment -- we've become one of the largest independent retail mortgage companies in the country, and we take the "independent" part seriously. Instead of waiting on the sidelines while the industry is resuscitated, we're implementing proactive strategies today that we believe will position us to command strong market share within a couple of years. Here you'll find people committed to succeeding and growing, and having fun in the process.
  • Excellent compensation -- in addition to a competitive salary, we offer a comprehensive benefits package.
More About Your RoleYou will report directly to the Chief of Operations as you provide leadership to a team of 10-15 underwriters at our Columbia branch and model the right leadership style to get the most out of the Regional Underwriting team. Since ours is an evolving environment, some of your key challenges are to figure out and develop new processes, as well as understand the nuances of our business. You’ll be able to "zoom in" to learn about our organization at a granular level, and then "zoom out" again to a strategic level to analyze and see opportunities for improvements. At a high level, you’ll spend about 40% of your time managing day-to-day underwriting issues; 35% providing leadership to the regional underwriting team and actively participating in strategic issues to help us meet and exceed our loan objectives; another 15% with secondary marketing/investor relations; and the remaining 10% with special projects. Specifically, your daily responsibilities will be to:  
  • Respond to day-to-day requests from Loan Officers & manage relationships between Loan Officers and Underwriters.
  • Troubleshoot and resolve issues with non-saleable loans.
  • Perform crisis management as you effectively find alternative products, solutions for non-compliant loans and minimize declines.
  • Work with Investors and Secondary Marketing to find products and solutions.
  • Supervise work planning, prioritization and assignments for the Regional Underwriting team; establish standards and monitor accountability.
  • Provide training on on-going new product offerings, guidelines and matrices as well as  hands-on guidance/mentoring to Regional Underwriting team.
  • Ensure timely performance management (this includes reviewing and approving work; managing rewards and disciplinary action; driving conflict resolution).
  • Review QC reports and resolve unacceptable loan issues.
  • Analyze need for changes to system applications and impact on overall Loan Operations function.
  • Participate in project teams to ensure the timely and accurate review and implementation of changes.
  • Participate in system analysis for new Loan Origination System.
  • Actively participate in strategy development for Prospect and help us meet our strategic objectives.
  • Track, monitor and prepare reports on departmental goals and objectives.
  • Perform other duties as assigned by the Chief of Operations.
  Keys to SuccessTechnical horsepower and creative problem-solving savvy will serve you well in this role, but it is your leadership prowess and ability to collectively move your team in the direction of Prospect’s underwriting goals that will push you over the top. You will also harness the power of superior negotiation skills to provide us with an aggressive edge when it comes to positioning contracts in support of our business goals. Towards that end, you’ll go beyond the deal-maker mind set as you leverage your interpersonal finesse to forge strong working relationships with a variety of internal and external stakeholders. Of course, as in any lean operation, you will unleash your entrepreneurial spirit as you independently manage multiple initiatives in a deadline-driven environment, remaining flexible to support diverse stakeholders and easily adjusting to the evolving needs of the business. If this sounds like the right mix of challenge and opportunity for you, and you meet the minimum qualifications, we want to hear from you! Who We AreWhen others see nothing but a downturn in the mortgage industry, Prospect sees opportunity. We understand how to grow for long-term results. We recognize individual companies that have the talent and tools for success. With fresh capital, cost-efficient scale, and decades of mortgage know-how, we are building a network of excellence coast-to-coast that combines the perfect blend of centralized strength and localized entrepreneurialism and leadership.

With about 1500 employees, Prospect Mortgage is one of the larger companies in the portfolio of Sterling Partners, a private equity firm with a history of generating extraordinary returns for investors. With nearly $4 billion of capital under management, Sterling's investment strategy is to invest from $5 million to more than $150 million of equity in each company with which we partner. They invest in industries with positive, long-term trends and bring their experience, expertise, and network in driving value to portfolio companies.   www.myprospectmtg.com    

Regional UW Manager

Title: Regional DE Underwriting ManagerLocation: Wakefield, MA, Opportunity Snapshot As an experienced Underwriter, you obviously have the technical horsepower to underwrite a high volume of quality loans as you explore creative, outside-the-box solutions to structure the deal. But what sets you apart from other Managers is your ability to get extraordinary achievement from ordinary people. You make a religion out of being accessible to your team and take tremendous pride in your work ethic, bias for self-action and compulsion to share as you energize those whom you lead…Now is the time join Prospect Mortgage, a company with a unique business model that has revolutionized the retail mortgage industry. Fueled by a solid national sales infrastructure, talented senior leadership, and strong capital backing, we are positioned for high growth while most of our competitors are going out of business.  A significant portion of our business (up to 60%) is focused on government loans and to be a good fit for this opportunity you will bring solid expertise in managing FHA/VA loans. The ideal candidate will bring a progressive track record of success in underwriting both conventional and government loans and possess the highly coveted DE certification. Of course, as in any role that requires collaboration with such diverse stakeholders—including Investors, Loan Officers and Underwriters—you will take a proactive and innovative approach to building strong relationships and maintaining high levels of communication. You will also flex your analytical muscle as you quickly troubleshoot and resolve issues for non-saleable loans and continually look for improvements in our systems/processes to push us to the next level. Established in 2006, Prospect Mortgage specializes in acquiring midsized residential lenders, providing them with capital, cost-efficiencies, and increased resources while maintaining a decentralized, entrepreneurial business model. We've created a team-oriented, energetic, and upbeat culture with a focus on success. Prospect is backed by Sterling Partners, a multibillion dollar private equity fund based in Chicago and Baltimore.  What Else You'll Bring to the Table In addition to the qualifications detailed above, you'll need:
  • Bachelor’s degree in Business Administration or equivalent combination of education & experience along with a DE in Underwriting..
  • 5-7 years of hands-on experience managing a complex underwriting operation.
  • Leadership prowess and ability to supervise and mentor people.
  • Skill in collecting and analyzing data and drawing logical conclusions, including interpretation of complex charts, graphs, documents and manuals.
  • Solid knowledge of credit policies/procedures and underwriting guidelines.
  • Excellent communication and organization skills.
  • Ability to multi-task and operate in a high-volume, fast-paced environment.
  • Computer proficiency in a Microsoft Office environment.
  • Ability to travel nationwide (around 5%) as needed.

 What's in It for You·         Influence & impact within a fresh business model – we are positioned for success and being a small, young company, you will get to "own" everything that has to do with our regional underwriting operation. You’ll also have the opportunity to refine and improve the operation as we go along and drive underwriting best practices that can be adopted at the national level.
  • Growth opportunity -- our dynamic work environment positions learning in the forefront and there will be ample opportunities to expand your role; you’ll also enhance your competencies as you gain exposure to an evolving spectrum of complex government and conventional loans.
  • Personal autonomy -- you'll be empowered to take ownership of your objectives and to achieve your goals on your own initiative in a flat, results-oriented environment.
  • Optimistic work environment -- we've become one of the largest independent retail mortgage companies in the country, and we take the "independent" part seriously. Instead of waiting on the sidelines while the industry is resuscitated, we're implementing proactive strategies today that we believe will position us to command strong market share within a couple of years. Here you'll find people committed to succeeding and growing, and having fun in the process.
  • Excellent compensation -- in addition to a competitive salary, we offer a comprehensive benefits package.
More About Your RoleYou will report directly to the Chief of Operations as you provide leadership to a team of 10-15 underwriters at our Columbia branch and model the right leadership style to get the most out of the Regional Underwriting team. Since ours is an evolving environment, some of your key challenges are to figure out and develop new processes, as well as understand the nuances of our business. You’ll be able to "zoom in" to learn about our organization at a granular level, and then "zoom out" again to a strategic level to analyze and see opportunities for improvements. At a high level, you’ll spend about 40% of your time managing day-to-day underwriting issues; 35% providing leadership to the regional underwriting team and actively participating in strategic issues to help us meet and exceed our loan objectives; another 15% with secondary marketing/investor relations; and the remaining 10% with special projects. Specifically, your daily responsibilities will be to:  
  • Respond to day-to-day requests from Loan Officers & manage relationships between Loan Officers and Underwriters.
  • Troubleshoot and resolve issues with non-saleable loans.
  • Perform crisis management as you effectively find alternative products, solutions for non-compliant loans and minimize declines.
  • Work with Investors and Secondary Marketing to find products and solutions.
  • Supervise work planning, prioritization and assignments for the Regional Underwriting team; establish standards and monitor accountability.
  • Provide training on on-going new product offerings, guidelines and matrices as well as  hands-on guidance/mentoring to Regional Underwriting team.
  • Ensure timely performance management (this includes reviewing and approving work; managing rewards and disciplinary action; driving conflict resolution).
  • Review QC reports and resolve unacceptable loan issues.
  • Analyze need for changes to system applications and impact on overall Loan Operations function.
  • Participate in project teams to ensure the timely and accurate review and implementation of changes.
  • Participate in system analysis for new Loan Origination System.
  • Actively participate in strategy development for Prospect and help us meet our strategic objectives.
  • Track, monitor and prepare reports on departmental goals and objectives.
  • Perform other duties as assigned by the Chief of Operations.
  Keys to SuccessTechnical horsepower and creative problem-solving savvy will serve you well in this role, but it is your leadership prowess and ability to collectively move your team in the direction of Prospect’s underwriting goals that will push you over the top. You will also harness the power of superior negotiation skills to provide us with an aggressive edge when it comes to positioning contracts in support of our business goals. Towards that end, you’ll go beyond the deal-maker mind set as you leverage your interpersonal finesse to forge strong working relationships with a variety of internal and external stakeholders. Of course, as in any lean operation, you will unleash your entrepreneurial spirit as you independently manage multiple initiatives in a deadline-driven environment, remaining flexible to support diverse stakeholders and easily adjusting to the evolving needs of the business. If this sounds like the right mix of challenge and opportunity for you, and you meet the minimum qualifications, we want to hear from you! Who We AreWhen others see nothing but a downturn in the mortgage industry, Prospect sees opportunity. We understand how to grow for long-term results. We recognize individual companies that have the talent and tools for success. With fresh capital, cost-efficient scale, and decades of mortgage know-how, we are building a network of excellence coast-to-coast that combines the perfect blend of centralized strength and localized entrepreneurialism and leadership.

With about 1500 employees, Prospect Mortgage is one of the larger companies in the portfolio of Sterling Partners, a private equity firm with a history of generating extraordinary returns for investors. With nearly $4 billion of capital under management, Sterling's investment strategy is to invest from $5 million to more than $150 million of equity in each company with which we partner. They invest in industries with positive, long-term trends and bring their experience, expertise, and network in driving value to portfolio companies.   www.myprospectmtg.com    
Prospect Mortgage is an equal opportunity employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability or protected veteran status.
or
Apply with