SearchAmericas Remote, OR
- Expired: over a month ago. Applications are no longer accepted.
- 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 .
- 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
SearchAmericasWhy Work Here?
Lots of room for growth, Growing Company