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Mortgage Entry Level Underwriter

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Description

Do you want a career in Underwriting? Join our rapidly-growing company and learn from the best in the mortgage financial services sector! This position offers an excellent training program with a competitive salary, excellent benefits and with career advancement opportunities in mortgage banking underwriting. Freedom Mortgage gives you the tools to build a career in via our First Flyer Program. This is your opportunity for a bright future!  

The First Flyer Underwriting Program was created to educate college graduates and to give them a solid foundation in the mortgage industry financing and underwriting principles. The program is structured similar to a college course: with a combination of classroom training in which you earn credits required for Graduation. Credits required for Graduation - credits will be earned by completing projects, attending soft skills training sessions, passing the exams, completing goal worksheets. A coach will be assigned to each trainee to support the First Flyer’s needs throughout his/her first year at Freedom Mortgage.

Each trainee is required to successfully pass all required exams as part of the training program and to attend company events.

The First Flyer Underwriting program is designed to prepare trainees for the Underwriting role in which you will be responsible to underwrite residential loans ensuring compliance with appropriate company, secondary market Investor standards and all applicable laws. The Underwriter will be responsible for examining loan documentation for accuracy and completeness; is involved in one or several types of mortgage lending including but not limited to conventional, FHA and VA loans. Must be able to underwrite retail loans within the company and industry guidelines. The Underwriter will also be working with Loan Originators, Branch Managers and Processors to secure all required documents.

The essential job functions for the underwriter include:

  • Underwrites Conventional, FHA, VA and Special Program 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, credit reports, preliminary report, judgments, bankruptcy documents and appraisals
  • Analyzes and calculates income documentation such as personal and business income statements 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 48-hour time frame set by the company
  • Communicates regularly with sales team, processors and management
  • Assists in the preparation of repurchase responses and/or rebuttal reviews

Qualifications:

  • Bachelor's degree (B.A) from four-year College or University, preferably degrees in business, accounting, economics, mathematics – other majors will be considered if the candidates have work experience with some type of financial service organization

  • Must be detail oriented, critical thinker, have strong analytical skills, good communication skills and an excellent customer service orientation

  • Motivated, hardworking and self-starter

  • Ability to calculate figures and amounts such as discounts, etc. Ability to handle multiple projects and meet deadlines

  • Excellent problem resolution and consultative skills

  • Ability to prioritize and be organized.

  • Able to work independently, self-driven, highly motivated and results-oriented

  • Outstanding customer service skills with strong attention to details

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