It is the role of the underwriter to review each loan application request by adhering to Regulations, Agency guidelines, and investor requirements.
The Underwriter position reports to the President of the Company and is a part of the Risk Management Committee. It is the express role of the underwriter to minimize potential risk by consistently reviewing, in detail, processed loan applications submitted to Client in a timely and professional manner.
- As an Underwriter for Client, the review of the loan applications will require DU/LP or investor automated underwriting input and exception.
- You are required to effectively communicate file status (approvals, declines, suspense and conditions) in a timely and professional manner.
- Maintain product knowledge of FHA/VA processing and underwriting for Clients product matrixes within software systems
- Maintain current guidelines for appraisal review and regulations.
- Underwrite 2 to 4 files per day, in accordance with underwriting authority. Adhere with company turn times.
- Prepare internal communication between external underwriting source and processors
- Work with Quality Control, Secondary, and Shipping to ensure the highest quality of file output.
- Assist to clear all investor purchase conditions
- Clear all conditions on files with 48 hours of receipt
- Must follow company Policies & Procedures and keep abreast of current FHA/VA, FNMA. FHLMC, RESPA, HMDA, Patriots Act, and investor’s criteria, which impact, decision making process
- Notify President of any suspicious activity within file review.
- Decline files within regulatory time frames and in accordance with regulations for ECOA.
- Assist in other functions, as needed at the direction of the President.
- Provide as back up for closing and post closing, as needed.
- Filing of miscellaneous documents.
- MUST have DE status and prior FHA underwriting experience, at least 2 years.
- College degree preferred, not required.
- Minimum of 3 years’ experience in the mortgage industry
- Excellent customer service and interpersonal skills
- General understanding of mortgage banking systems
- Detail oriented personality
- Excellent computer skills and knowledge of Microsoft Office (Excel and Word)