The Loan Credit Advisor/Underwriter is responsible for reviewing loan applications in conjunction with Credit, Income, and Asset documentation to determine if loan is to be submitted to Call Center Operations. This position is responsible for performing duties such as calculating income, analyzing loan applications, assessing creditworthiness and the likelihood that a loan applicant will be able to repay the debt and analyzing the AUS /Guidelines as they pertain to the loan product. Will work alongside sales, providing guidance to Loan Advisors to ensure that the borrower is being put into the product that provides the most benefit given their individual profile. Product knowledge must include: expertise in processing and underwriting VA, FHA, Conventional and Non-QM loans.
Job Functions may include:
Co-Located within Sales . Works directly with Loan Advisor to provide clear direction as to what is needed from the borrower in order to have a completed loan application. Requests and reviews the appropriated credit, income and asset documentation, and reviews alongside the application for data integrity. Calculates income in accordance to agency/investor guidelines for all income sources. Reviews and updates liabilities in accordance to agency/investor guidelines. Creates a needs list to be distributed to sales, operations and borrowers, detailing the items required for processing of loan. Runs the corrected/completed loan terms thru the appropriate Automated Underwriting engine, recognizing when a manual downgrade is required STIPS file. Recommends denial status for loans not meeting minimum standards. Works directly with Loan Advisor in re-structuring loans as necessary after documentation has been analyzed. This will include but not be limited to proposal to pay off additional debt and/or proposing new loan product(s). Provides feedback and training to Loan Advisor. Train employees involved in the process how to handle all products. Assigns file to self and reviews CIA info to confirm no issues. Sets PGR Trk item to be completed in Lakewood. Authorizes loan to be sent to Processor.
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.
Ability to work flexible hours as needed. Ability to function in an ever changing team environment. Demonstrate strong interpersonal, organizational, and time management skills. Ability to solve problems. MS Office proficient. Excellent customer service skills with strong attention to detail. Requires good analytical and math skills, strong oral and written communication skills, and outstanding computer skills.
Education and/or Experience:
High school diploma or general education degree (GED) required; Bachelor’s degree preferred. 5 years related work experience in residential mortgage lending processing with underwriting experience. Current Mortgage Loan Processing knowledge. Product knowledge MUST INCLUDE: expertise in processing and underwriting VA, FHA, Conventional and Non-QM loans.
Career development and advancement
Working at Freedom, you have the chance to invest in yourself. From on-the-job training to advancement opportunities, and from tuition assistance to our annual internal leadership conference, we’re focused on upskilling, achieving, and celebrating.Learn More
We run huge company-sponsored donation events and contests, as well as offer paid volunteer time so you can commit your support to the causes which you care about most.Learn More
Holidays and paid time off
We offer ample paid time off including multiple paid holidays — because your downtime and well-being are just as important to us as your time in work mode.Learn More
Our salaries are competitive — rewarding your experiences, contributions, and hard work. We also have a 401K plan which provides a matching contribution.Learn More
We offer several medical benefits plans and options to choose from including dental, vision, disability and life insurance, dependent care and flexible spending.Learn More
Pets are part of the family too! We offer comprehensive vet insurance to make sure your cats are cared for, your pups are prioritized, and your lizards looked-after.Learn More
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