Mortgage Underwriter US Mortgage

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.