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Mortgage Conventional Underwriter - Wholesale

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Description

Position Description:


Please Note: Position may be remote
Summary:

As a member of our Wholesale team, will underwrite 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 loans 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 5 years of current frontline Conventional mortgage Underwriting required


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