Remote Renovation Loan Underwriter
CrossCountry Mortgage, LLC. Brecksville, OH
- Posted: over a month ago
CrossCountry Mortgage started in Cleveland in 2003, when our President and CEO Ronald J. Leonhardt, Jr., had the vision to become a nationwide full-service lender that could provide more to customers — meeting their home financing needs, being there every step of the way, and making homeownership dreams possible and affordable. We’re continuing to expand our nationwide footprint, and we’re not stopping any time soon!
We Care! CrossCountry Mortgage offers eligible employees a robust, industry leading benefits package including medical, dental, and vision insurance, as well as a 401(k) plan with a generous employer match! We also offer company-provided Short-Term Disability, Employee Assistance, and Wellness Programs. Those who work at our corporate headquarters in Northeast Ohio also enjoy a casual dress code, an on-site market café, and an upbeat working environment!
The Renovation Loan Underwriter is responsible for providing consistent, accurate and quality loan decisions in accordance with CrossCountry Mortgage, LLC. and secondary market investor standards. This position is responsible for evaluating conventional, FHA, VA and USDA loans to maximize organizational profit and minimize risk or loss and examining loan documentation for accuracy and completeness. The Renovation Loan Underwriter will collaborate with loan originators, branch managers and/or production staff to secure all required documents.
The Renovation Loan Underwriter is responsible for validating income, asset and collateral documents including self-employed tax returns. The Renovation Loan Underwriter may be involved in one or several types of mortgage lending (conventional, government-backed, etc.). Lending authorities include conventional, government, and jumbo loan programs. Excellent phone and communication skills and the responsibility of providing superior customer service to internal and external customers required.
- Evaluates loan applications for risks and various criteria such as investor requirements, accuracy, consistency, and completeness.
- Reviews renovation-related documents to ensure they meet agency requirements including renovation contracts, plans and specs, description of materials, HUD consultant work write ups, etc.
- Reviews new loan files to ensure loan meets investor and program criteria. Minimum standard of 60 loans per month and a turn time of 24 hours required.
- Reviews 1003 and transmittal for accuracy and completeness. Compares to findings to verify that all information matches.
- Reviews credit report and compares to liabilities on 1003. Verifies the investor guidelines for outstanding derogatory items and requirement payment or satisfaction if needed. Requests updated mortgage history if needed.
- Calculates income using documentation required per investor, questioning any large changes in income.
- Reviews assets statements to compare to required assets. Requires documentation and source for any recent large deposits.
- Reviews title to verify borrower has ownership on a refinance transaction and that the seller has ownership for purchase transaction. Checks that chain of title meets investor requirements. Verifies there are no unpaid liens or judgments and that all mortgage liens are being paid off through the transaction. Compares tax figures to 1003.
- Reviews appraisal to ensure the value is supported and that the appraiser has provided complete accurate appraisal. Orders value review on loans considered high risk.
- Reviews loan file to make sure regulatory, state and federal (Patriot Act) compliance has been met.
- Calculates net tangible benefit for those states that require this test.
- Verifies that the rate lock matches the underwriting file with the correct program, LTV, credit score and pre-payment penalty.
- Reviews final conditions turned in for Underwriting Final Approval within 24 hours.
- Reviews a minimum number of files per day as assigned by the Underwriting Manager of between 4-8 files per day, to include new submissions, re-submissions and final conditions.
- Maintains current and fluid knowledge of investor and agency guidelines.
- Approves loan with proper documentation or recommends further action.
- Communicates effectively and engages proactively with loan originators, processors, branch managers, funders and post-closers regarding loan decisions, assignment of loan conditions, investor guidelines/documentation requirements and possible loan scenarios.
- Applies knowledge of underwriting and pre-underwriting to best serve loan applicant and investor needs.
- Performs other related duties as assigned.
Qualifications and Skills:
- Bachelor’s degree or equivalent combination of education and experience.
- Must have 2 years of renovation lending underwriting experience.
- 5+ years of recent mortgage underwriting experience (FHA, VA and conventional) with strong agency guideline knowledge.
- DE, SAR and LAPP certifications are required; experience with USDA is a plus.
- Strong working knowledge of ATR/QM requirements.
- Encompass LOS experience is a plus.
- Ability to work in a fast paced, fluid environment and be held to minimum production standards.
- High integrity and outstanding work ethic required.
- Strong computer skills; proficient in Microsoft Word, Excel and Outlook.
- Must have proficient written and verbal communication skills.
- Knowledge of compliance and disclosure requirements.
- Knowledge of closing, post-closing & quality control responsibilities.
- Ability to work remotely.
CrossCountry Mortgage, LLC offers MORE than a job, we offer a career. Apply now to begin your path to success! https://crosscountrymortgage.com/about-us/careers/apply/
CrossCountry Mortgage, LLC. (NMLS3029) is an Equal Opportunity Employer committed to workforce diversity. Qualified applicants will receive consideration without regard to race, religion, color, orientation, gender, age, national origin, veteran status, disability status or marital status. Employment is contingent upon successful completion of a background investigation. CrossCountry Mortgage, LLC. is an FHA Approved Lending Institution and is not acting on behalf of or at the direction of HUD/FHA or the Federal government. To verify licensing, please visit www.NMLSConsumerAccess.org.
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