- Career Level
- Not Specified
Perform underwriting of Conventional, FHA, VA, USDA, and/or Jumbo mortgage loans including a detailed review of the residential mortgage loan application and documentation as submitted to ensure loans meet underwriting guidelines. The detailed review will entail analyzing all documentation including but not limited to credit reports, income and asset documentation, collateral, fraud prevention tools and other applicable documentation as required to render a loan decision ensuring completeness, accuracy and compliance. Responsible for effectively communicating all lending decisions to appropriate parties. 203k expert (FHA 203K and Fannie HomeStyle) Develop and maintain knowledge of multiple loan product guidelines for quick and accurate answers Provide technical experience and quality assurance on loan approvals Rework loans to offer new terms, identifying any additional conditions as needed to insure a viable credit decision Duties and Responsibilities Approve or reject residential loans within prescribed authority Ensure loans meet applicable agency and government guidelines Analyze borrower s credit profile, collateral and capacity to repay the proposed mortgage obligation Accurately calculate borrower s income and debt-to-income ratios Accurately qualify borrowers with complex income structures: Partnerships, S-Corps, C-Corps, Capital Gains, Dividend/Interest, Rental income, etc. Document lending decisions and complete required screens in the loan origination system that include accurate completion of the 1008&1003 as well as adding and/or creating applicable conditions on the loan approval Proficient at running, reading and interpreting automated underwriting decision results from both Desktop Underwriter and Loan Prospector (and GUS&TOTAL where applicable) Review and sign off on submitted conditions where appropriate Keep informed of current and acceptable practices via AllRegs and Investor websites Communicate loan decisions to clients/internal departments in a timely fashion Work closely with processing and/or account management to answer specific loan questions, clarify specific conditions or documentation requested and to resolve problems Maintain and cultivate an effective working relationship with internal departments Compliance, Appraisal Desk, QC, Closing, and Post-Closing Prioritize work queue to ensure post underwriting turn-times are met Consistently meet or exceed established minimum productivity and quality goals Provide quality control and post-closing responses in a timely manner Requirements Minimum of 3-5 years of residential loan underwriting experience 3+ years Renovation UW experience (FHA 203K and Fannie HomeStyle) DE or SAR/LAPP certifications are preferred Experience underwriting USDA, non-Conforming portfolio Jumbo and Mortgage Revenue Bond Programs (IHDA, MHFA CalHFA, etc.) required Experience with Encompass Loan Origination System a plus High school diploma required College diploma preferred Knowledge, Skills, and Abilities Requirements Strong analytical skills Ability to make risk based lending decisions supported with relevant data and research Detail oriented Knowledgeable with MS Office Excellent Customer Service skills Excellent verbal and written communication skills Great organizational skills Benefits Benefits include; full medical, dental, and vision coverage; short&long term disability benefits; vacation and sick time off; and 401K retirement saving programs.