Reports To: Underwriting Manager
Overall Summary: Analyzes and evaluates residential loan applications in accordance with investor, agency and internal guidelines. Examines loan documentation for accuracy and completeness. Ensures loans meet eligibility requirements to mitigate risk or loss to the company. Provides outstanding levels of customer services through great communication and close attention to detail.
Essential Skills: Underwriter must be accurate and efficient in reviewing loan applications; Knowledgeable of Encompass system; Must have through understanding of LTV and DTI ratios.
• Demonstrate knowledge of mortgage loan processing, compliance, investor products and underwriting guidelines.
• Working knowledge of applicable federal, state and local laws, rules, and regulations in order to ensure compliance.
• Thoroughly and accurately analyze all loan documents, which may include but not limited to AUS decision report, credit report, all sources of income including complex personal and business returns, assets, preliminary title report, appraisal, purchase agreement, escrow instructions, occupancy verification, red flags and fraud check.
• Input data into DU/LP and run final AUS (if applicable).
• Request supplemental information documentation as necessity dictates; Recognize risk factors that may compromise overall quality of loan file.
• Implement and enforce fraud detection techniques.
• Manage and adhere to mortgage insurance (MI) guidelines.
• Revisit loans to review and clear conditions.
• Aid in the resolution of any applicable pre-funding or post purchase loan deficiencies by assisting the post-closing department in curing any outstanding conditions or concerns.
• Effectively communicate orally and/or electronically all loan decisions rendered on files in a professional and positive manner to maintain strong working relationships with co-workers, clients and vendors.
Hours: 8:30 to 5:00 with ½ hour lunch