This position will ensure loans meet company standards for sale into secondary market. Person will identify, analyze and balance transactional, borrower and property related risks to arrive at a loan decision of approval, suspense, counter offer or denial.
Reviews all items and conditions provided by borrowers and ensures they meet the required guidelines by utilizing internal and external (e.g., agency) policies and procedures [e.g., automated underwriting systems such as DU or LPA]
Reviews applications and all pertinent disclosures to ensure compliance with all Federal, State and investor requirements are met and upheld
Monitors property appraisal process to ensure value of property is accurately presented
Analyzes documentation such as credit, income, assets, and appraisals to make sound underwriting decisions based on this analysis by using internal checklist
Analyzes loan applications to identify any risk issues and/or potential misrepresentation.
Reviews documentation and ensures documents are properly classified and organized
Makes quality underwriting decisions while maintaining Company turn-time expectations
Reviews and clears conditions on all loans to ensure a complete loan package prior to closing
Have the ability to rework loans to new terms, and identify additional conditions as needed.
Ability to work in a fast-paced, high volume environment, while practicing sound lending judgment.
Bachelor's degree with three years experience in mortgage underwriting including conventional, FHA, VA, RD and/or specialty program underwriting.
- Must have an active DE CHUMS and SAR number.
- Must be familiar with all investor guidelines.
- Working experience with DU, LP and GUS underwriting systems.
- Extensive knowledge of residential appraisal deficiencies according to USPAP.
- Experience with FHA/VA new-construction documentation, and condominium project approval requirements.
- Experience handling multiple investors.
- Possess excellent communication and organizational skills.