In the role of Underwriter Process Lead, you will underwrite conventional, government loans, making credit decisions for the approval, suspension, or denial of Residential Mortgage Loans. Take final loan decisions within approval authority in accordance with guidelines. This position is responsible for the timely and accurate analysis and evaluation of loan applications based on a borrower’s credit, employment, income, financial data and asset profile, along with the appraisal report, and investor guidelines. An underwriter makes sound decisions that mitigate risk to the company, adhere to quality standards, and maximize the borrower’s chances of obtaining and sustaining home ownership.
Some responsibilities will include:
- Responsible for underwriting 2-3 new loans per day while minimizing any risk to the company by thoroughly analyzing a borrower’s income, credit, assets, ratios and the collateral to ensure compliance with our investors, agencies, HUD, VA, USDA or HFA’s, as applicable.
- Maintain 24-48 hour turn times
- Responsible for clearing UTC conditions within 24 hours.
- Responsible for preparing loans for risk committee.
- Ensures loans follow investor requirements, federal and state laws and regulations.
- Performs risk assessment of credit and collateral ensuring loan sale and sound credit quality.
- Responds to and resolved any post-closing issues to ensure loan sale.
- Assist management to clear conditions and expedited loan closings.
- Keep informed of current practices in loan underwriting.
- Take initiative to keep current on changes in investor guidelines.
- Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
- Responsible for meeting and maintaining registration requirements under the Federal SAFE Act
- Works with internal staff (Account Executives, Loan Officers, broker Coordinators, Loan Processors, etc.) and external customers (Realtors, Mortgage Brokers, etc.) and third parties to expedite the decision process and loan closings for mortgage loans submitted for approval.
- Underwriters have frequent day-to-day communication with external and internal customers alike.
- Complete understanding of investor guidelines and ability to run and interpret AUS findings (DU and LP).
- The position will re-underwrite and verify monthly, a sampling of loans to insure the accuracy of the documentation.
- Responsibility to establish and maintain federal registration requirements outlined in the SAFE Act. Assist loan officers with scenarios and explaining any conditions that are not clear to them.
- Assist in the development of junior underwriters and processors.
- High School Diploma or GED equivalent
- At least 4 years of relevant work experience
- 5+ years of Mortgage Underwriting experience
- Excellent written and verbal communication skills
- Extremely organized, Strong attention to detail
- Has worked in Encompass and managed multiple loan officer relationships
- Direct Endorsement (DE) & or LAPP approval.
- Problem solving abilities, and a willingness to help
- MS Office proficient.
- Able to work overtime as business needs dictate
Softcom Systems Inc
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