US Mortgage - Underwriter

About This Role

The Underwriter manages the entire loan underwriting process, primarily for conventional loans, Closed End Second, and VA IRRRL. This role suits a candidate with strong analytical and problem-solving skills, capable of making sound decisions based on underwriting reviews and investor guidelines.

Responsibilities

• Manage end-to-end underwriting processes, primarily focusing on conventional loans, Closed End Second and VA IRRRL
• Accurately calculate different income types such as salaried, self-employment, other income and rental income for loan decisioning
• Evaluate complete loan documents and provide approval or denial decisions
• Complete review of credit report to verify trade lines, derogatory accounts, public records and credit reconciliation, calculate HTI/DT
• Complete review of collateral and property valuation to identify physical and market conditions of property
• Verify assets including borrowers' bank account statements, retirement accounts, mutual funds and other investments
• Identify redflags, large deposits, and regular deductions on bank statements
• Apply expertise in the 4Cs of underwriting (Credit, Capacity, Collateral, and Capital)
• Evaluate evidence of borrower’s willingness and ability to repay the obligation
• Review investor guidelines (Allregs – FNMA & Freddie) and client overalls

Requirements

• Minimum 5 years of underwriting experience
• Well versed with FNMA, FHLMC and investor guidelines, able to review and locate exact guidelines for decision making
• Good analytical and problem-solving skills
• Decision-making skill when applying business judgment based on underwriting review
• Good communication and presentation skills
• Self-motivated and hard working