We are seeking a Sr. Mortgage Underwriter to become a part of our team! You will make independent credit decisions that commit us to $20-$30 million of lending every month.
Candidates in this job are responsible for assessing the overall credit risk of loan transactions by thorough analysis of all loan components for residential loan applications. Components include: AUS decision report, credit report, all sources of income, type of loan, appraisal report, assets, debt to income ratios, occupancy, preliminary title report and fraud detail reports.
Ability to review all loan components in the file for completeness, accuracy and integrity while ensuring that documents are consistent and uphold to Company and industry guidelines. (i.e. Qualifying income used is supported by documentation provided; appraised value used is supported by appraisal).
- Examine transaction and investor manual to ensure compliance with all investor guidelines.
- Government Delegated with CHUMS as DE Underwriter for FHA loans and LAPP/SAR for VA Manually underwrite Alternative mortgage products, more commonly known as Non-QM.
- Implement and enforce fraud detection techniques--Request supplemental information/documentation as necessity dictates.
- Underwrite loan application within limits of credit authority based on capability to underwrite transactions involving varying levels of complexity and risk Acquire a 2nd level underwriter when deemed necessary.
- Recognize risk factors that may compromise the overall quality of the loan file.
- Effectively communicate an engage proactively with loan agents, processors, funders and post-closers in regards to loan decisions, assignment of loan conditions and possible loan scenarios.
- Recognize types of documentation required for varying or unique circumstances. (e.g. Self-Employed borrowers, title report issues, derogatory credit and non-traditional income sources, etc.)
- Aid in the resolution of pre-purchase loan deficiencies by assisting the post-closing department in making necessary file corrections as well as retrieving loan suspense conditions.
- Act as mentor to all staff underwriters in regards to underwriting decisions as well as policy and procedures.
- Assist UW supervisor in the loan review process of loans that require a secondary approval signature.
- Assess loan volume and ensure that team underwriters are meeting turnaround time goals and productions requirements.
- Execute loan decisions and review loan conditions in a timely manner.
- Expected production level is 3 underwriting decisions per day.
- Assist team manager in assessment and attainment of team productions goals.
- Be available as a consultant to loan agents and processors to field questions pertaining to new and/or hypothetical loan scenarios, underwriting guidelines and documentation requirements.
- Minimum three years of mortgage underwriting experience, with solid working knowledge of underwriting guidelines.
- Experience with private investor and private mortgage insurance guidelines.
- Strong interpersonal-communication and business-relationship skills.
- Detail oriented with strong organizational and follow-through skills.
- Excellent analytical, written communication and verbal communication skills.
- Technologically proficient.
- Bachelor’s degree in related field or equivalent professional experience.