Conventional Underwriter

Description

Summary

Underwrites residential loans ensuring compliance with appropriate company, secondary market investor standards and all applicable laws. The Underwriter will be responsible for examining conventional loan documentation for accuracy and completeness. Must be able to underwrite loans within the company and industry guidelines. The Underwriter will also be working with the sales and operations teams to secure all required documents

 

Essential Job Functions:

 

• Underwrites Conventional to verify for completeness, accuracy, and compliance
• Develops and maintains an up to date and sound knowledge of multiple loan product guidelines offered by the company, DU/LP guidelines, and risk assessment tools used to decision mortgage loans
• Reworks loans to new terms, identifies additional conditions as needed to insure a viable credit decision
• Reviews and evaluates borrower(s) profile including but not limited to all income documentation, tax returns, asset documentation, credit reports, preliminary title report, judgments, bankruptcy documents and appraisals
• Analyzes and calculates income documentation such as personal and business income tax returns and ensures all necessary documentation is requested to support final loan decisions
• Exercises good judgment, conducts reasonableness tests and issues quality decisions
• Determines accuracy and completeness of files; ensures processes are consistent
• Demonstrates proficiency in automated underwriting systems (DU, LP)
• Maintains a sound knowledge of secondary market activity, practices, and business/industry practices as they impact underwriting quality and origination activity
• Maintains pre-established service level standard of decisions within a service level time frame set by the company
• Communicates regularly with sales team, processors, closers and management
• Assists in the preparation of repurchase responses and/or rebuttal reviews

• Ability to function in an ever-changing environment and work across all business channels in Underwriting (Retail/CC/Wholesale) as needed

Supervisory Responsibilities:

 

This job has no supervisory responsibilities

Qualifications:

 

To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job.

• Appraisal review and tax return analysis skills required

• Prior credit signing authority a plus
• Experience with repurchase response and/or rebuttal review and response preparation
• Secondary market experience a plus
• Understanding of TILA, RESPA and Predatory Lending
• Strong analytical and decision making/problem solving skills
• Possess a keen eye for accuracy, attention to detail and ability to handle a high volume work load
• Excellent interpersonal, organizational, prioritization and time management skills
• Proficient in computers including LOS systems, Microsoft Office and Excel. Ability to adapt/ learn/utilize multiple software programs. Experience with paperless environment preferred.
• Ability to type/use a keyboard with sufficient speed to meet job demands
• Ability to deliver effective results and to meet deadlines with minimal supervision
• Self-starter, adapt to a changing environment and have the ability to communicate and work well with investors and co-workers
• Possess clear, concise and effective written and oral communication skills
• Professional demeanor in appearance, interpersonal relations, work ethic and attitude
• Required to support and work across all business channels in Underwriting (Retail/CC/Wholesale) as needed

Education and/or Experience:

 

• High School Diploma or GED Required; 4 Year BA or BS preferred
• Minimum 1 year of current frontline mortgage Underwriting required

 

Language Skills:

 

Ability to read and comprehend instructions, correspondence, memos, and work place policies. Ability to analyze, interpret general business periodicals, professional journals, procedures and governmental regulations. Ability to write professional correspondences. Ability to write routine business reports. Ability to speak effectively with other employees and/or customers. Ability to present formal information in one-on-one and small group situations to customers, students, parents and/or other employees. Ability to present information and respond to questions from groups of administrators, managers, employees, customers and/or the general public.

 

Mathematical Skills:

 

Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry.  Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

 

Reasoning Ability:

 

Ability to carry out detailed written and/or verbal instructions. Ability to solve problems involving concrete variables in standardized situations. Ability to define problems, collect data, establish facts, and draw valid conclusions.

 

Certificates, Licenses, Registrations:

 

This position does not require professional licensing, certification or registration.

 

Customer Service Relationships:

Anticipates customer needs and regularly motivates or influences others to deliver customer service excellence. May troubleshoot highly sensitive or confidential issues. Personally ensures problem resolution. Identifies barriers to effective customer service and sets customer service standards. Establishes a customer feedback system and holds self-accountable for customer service excellence within the department.

 

Physical Demands :

 

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.  While performing the duties of this job, the employee is frequently required to sit and talk or hear.  The employee is occasionally required to stand; walk; use hands to finger, handle, or feel; and reach with hands and arms.  The employee must occasionally lift and/or move up to 25 pounds.

 

Work Environment:

 

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.

 

Employer’s Rights:

 

This job description does not list all the duties of the job. You may be asked by your supervisors or managers to perform other duties. You will be evaluated in part based upon your performance of the tasks and functions listed in this job description. The employer has the right to revise this job description at any time. The job description is not a contract for employment, and either you or the employer may terminate employment at any time, for any reason.

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