SUMMARY
This position is responsible for underwriting 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, Jumbo, construction to perm, etc. Must be able to underwrite 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.
EDUCATION AND EXPERIENCE REQUIREMENTS
- Minimum 5 years of recent senior level underwriting experience required
- Strong analytical skills with problem solving abilities
- Ability to analyze personal and business returns/financial, P&L, and cash flow, gather relevant information and make appropriate recommendations
- Identify strengths, weaknesses, and mitigating factors for each loan file
- Ability to structure loans appropriately to ensure salable loans on the secondary market
- Extensive knowledge of secondary market (Fannie/Freddie) guidelines
- Ability to assume responsibility for loan decisions and maintain accountability for decisions made
- Good personal organization and time management skills with ability to multi-task
- Strong written and verbal communication skills – must be able to clearly and effectively communicate loan decisions to originators, processors, auditors, and others
- Detailed-oriented, self-starter with ability to work with underwriters to accomplish and support department goals
- High school diploma or equivalent
- Proficient computer skills required
JOB FUNCTIONS
- Underwrites Conventional, Portfolio 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
- Demonstrates proficiency in automated underwriting systems (DU, LP)
- Responsible for credit and collateral completeness, accuracy and quality
- Reviews and evaluates borrower(s) profile including but not limited to all income documentation, tax returns, assets, credit documentation, fraud reports, and collateral docs, including appraisals
- Analyzes and calculates complex income documentation such as personal and business income statements and ensures all necessary documentation is requested to support final loan decision
- 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 timeframes set by the company with minimal supervision
- Ability to function in an ever-changing environment and underwrite a variety of loan types with speed and accuracy
- Communicates regularly with the sales team, processors, management and others as needed
- Assist management with training of new underwriters
- Provide feedback to the underwriting manager on challenges and assist in implementing solutions
- Assists in the preparation of repurchase responses and/or rebuttal reviews
- Reworks loans to new terms, identifies additional conditions as needed to ensure a viable credit decision is made
- Professional, friendly, courteous, positive, collaborative, and client-centric spirit.
- Assist in underwriting difficult loans with other staff underwriters
- Ability to sign off on or override other staff underwriter’s conditions
SUPERVISORY RESPONSIBILITY
This position manages employees and is responsible for the coaching, development, and performance management of those employees.
POSITION TYPE
This is a full-time position that requires schedule flexibility to work evenings and weekends as needed.
TRAVEL
This position requires up to 5% travel.
OTHER
We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity and/or expression, status as a veteran, and basis of disability or any other federal, state or local protected class.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Other duties, responsibilities and activities may change or be assigned at any time with or without notice.
