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Mortgage Underwriter

SearchAmericas Remote, OR

  • Expired: over a month ago. Applications are no longer accepted.
Job Description

 

Essential Functions:

  • Evaluate loan applications for risks and various criteria such as investor requirements, accuracy, consistency and completeness .
  • Review new loan files to ensure loan s meet investor and program criteria. Minimum standard of 60 loans per month and a turn time of 24 hours required .
  • Review transmittal & 1003 reports to check for accuracy and complete ness. C ompare to findings to verify that all information matches .
  • Review credit report and compare to liabilities on 1003. Verify the investor guidelines for outstanding derogatory items and requirement payment or satisfaction if needed. Request updated mortgage history if needed .
  • Calculate income using documentation required per investor, questioning any large changes in income .
  • Review asset statements to compare to required assets. Require documentation and source for any recent large deposit .
  • Review title to verify the borrower has ownership on a refinance transaction and that the seller has ownership for purchase transaction. Check to ensure chain of title meets agency requirements.
  • Verify there are no unpaid liens or judgements and that all mortgage liens are being paid off through the transaction. Compare tax figures to 1003 .
  • Review appraisal to ensure the value is supported and that the appraiser has provided complete , accurate appraisal. Order value review on loans considered high risk .
  • Review file “ Calculate net tangible benefit ” for those states that require this test .
  • Verify that the rate lock matches the underwriting file with the correct program, LTV, credit score and pre-payment penalty .
  • Review final conditions turned in for Underwriting Final Approval within 24 hours .
  • Review a minimum number of files per day of 6-8, to include new submissions, re-submissions & final conditions .
  • Maintain current and fluid knowledge of investor and agency guidelines .
  • Approve loan with proper documentation or recommend further action .
  • Communicate effectively and engage proactively with loan originators, processors, branch managers, funders and post-closers in regard to loan decisions, assignment of loan conditions, investor guidelines/documentation requirements and possible loan scenarios .
  • Apply knowledge of underwriting and pre-underwriting to best serve loan applicant and investor needs .

Qualifications and Education Requirements:

  • Bachelor’s Degree or equivalent combination of education and underwriting experience .
  • 5+ years of recent Mortgage Underwriting Experience (FHA, VA and Conventional) with strong agency guideline knowledge .
  • FHA DE and VA SAR certifications are required; experience with USDA is a plus.
  • Strong working knowledge of ATR/QM Requirements .
  • Encompass LOS experience is a plus .

Preferred Skills:

  • 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, DU / LP AUS systems
  • Must have proficient written and verbal communication skills
  • Knowledge of compliance and disclosure requirements
  • Knowledge of closing, post-closing & quality control responsibilities

 

SearchAmericas

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Address

Remote, OR
USA
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