About This Role
This role is for a Mortgage Underwriter experienced in live underwriting and real-time analysis of US residential mortgages. The position requires expertise in income and debt-to-income ratio calculations, as well as a strong understanding of the 4C's framework.
Responsibilities
- Review and analyze mortgage loan applications to ensure eligibility, accuracy, completeness, and compliance with internal and regulatory guidelines to minimize risk factors
- Review all required loan data, reports, and inspections to ensure the collateral is acceptable to investors and the company
- Review initial application and verify loan, property, and borrower information with other available documents
- Verify borrower's monthly income and expenses
- Verify other relevant sections
- Review all documents related to borrowers' Credit, Capacity, Collateral, and Capital
- Calculate assets required for closing and reserve purposes for the transaction (as per guideline)
- Make independent decisions regarding acceptance and risk of loans according to HUD, company, and investor guidelines
- Provide final approval underwriting of mortgage loans
- Complete all required paperwork and forms in a timely and accurate manner
- Prepare required forms
- Sign off conditions in a timely manner set by management
- Work with staff and management to find solutions on escalated loans
- May be requested to make recommendations for improving Internal Audits policies and practices
- Manage loans by using all functions of Encompass
- Effectively communicate underwriting decisions with processors and advisors
- Maintain a high level of customer service and communication with other departments
- Perform other duties as assigned
Requirements
- Degree or equivalent
- Minimum 3 years of experience in conventional/government end-to-end underwriting
- Well-versed with all 4C
- Candidate must have experience in live underwriting & Real Time Analysis
- Excellent at Income Calculation and Debt-to-Income (DTI) Ratio Calculation
- Expertise in 4C's framework (Credit, Capacity, Collateral and Capital)
- Familiar with Credit report Analysis & LOX (Letter of Explanation)
- Knowledge on Credit Bureau, documents to approve the loan, and different account types
- Knowledge of Lending & Underwriting Guidelines | Credit & Income Analysis | Cash Flow Analysis | Risk Assessment | Loan-to-Value Ratios | Debt-to-Income Ratios
About the Company
We are looking for live underwriters for US residential mortgages.
