Acceler8Networks is working with a national bank in the San Gabriel Valley and is looking to bring on a strong Sr. Mortgage Underwriter for their busy team on a temporary-to-full-time basis. The Sr. Mortgage Underwriter will be responsible for ensuring all loans are compliant with HMDA reporting requirements and State and Federal regulators. Primary responsibilities will include participating in a full review of all loans (including Fannie Mae and portfolio loans) to ensure salability prior to funding and conducting reviews on pools of loans to determine if they are suitable for purchase from other lending institutions.
The national bank is looking to have this Sr. Mortgage Underwriter start immediately!
*PORTFOLIO/JUMBO AND ENCOMPASS EXPERIENCE A HUGE PLUS*
As a Sr. Mortgage Underwriter you will:
- Review and evaluate information on mortgage loan documentation to determine if borrower and/or property meet loan standards
- Complete a thorough analysis of loan files to determine compliance with company, investor, and government guidelines and standards
- Once the application has been evaluated and the degree of risk has been assessed, document the reasons for approval or denial of the loan and add the documentation to the loan file
- Responsible for ensuring final loan information is accurate in loan origination system prior to file being submitted for loan closing, including but not limited to loan amounts, appraised value, interest rate, income, assets, and monthly payments
- Analyze and validate appraisal reports for accuracy, completeness, and compliance with regulatory and bank guidelines to minimize collateral risk
- Handle Reconsideration of Value (ROV) requests and act as the liaison between borrower and Appraiser/AMC to ensure ROV requests are documented, tracked and communicated appropriately and timely
- Identify deficiencies or risk concerns in collateral or borrower credit profile
- Prepare and issue denial (adverse action) letters in compliance with applicable regulations
- Document findings and provide feedback to underwriting or processing teams as needed
- Maintain knowledge of lending regulations, internal policies, and industry best practices
- Assist in internal audits or quality control reviews as required
- Participate in other departmental assignments or projects as deemed necessary
Sr. Mortgage Underwriter:
- 5+ years of experience in mortgage underwriting, credit review, or appraisal review
- Strong knowledge of mortgage lending regulations, appraisal standards, and credit analysis
- Portfolio/Jumbo Loan experience highly preferred!
- Recent Fannie Mae underwriting experience
- Thorough understanding of underwriting policies and procedures, as well as investor guidelines and regulatory updates including knowledge of Fannie Mae guidelines and standards
- Comprehensive knowledge of real estate and consumer loan compliance guidelines
- Strong credit package analysis
- Excellent attention to detail and written communication skills
- Working experience in Encompass software and appraisal review application software highly preferred!
Job Types: Full-time, Contract
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Flexible schedule
- Health insurance
- Life insurance
- Paid time off
- Professional development assistance
- Vision insurance
Experience:
- Mortgage Underwriting: 4 years (Required)
- Fannie Freddie: 4 years (Required)
- Portfolio / Jumbo Loan: 4 years (Required)
- Credit Package Analysis: 4 years (Required)
- HMDA Reporting Guidelines: 4 years (Required)
Ability to Commute:
- El Monte, CA 91731 (Required)
Work Location: In person