Mortgage Underwriter
- Full time
- Pune IN
- @Mphasis
Job Detail
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Job ID 5610
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Career Level Others
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Experience 2-4 Years
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Industry Finance
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Qualifications Degree Bachelor
Job Description
Essential Job Functions:
- Underwrites Conventional, FHA and VA loans
- Perform complete and in-depth review of mortgage loan files including; income, assets, credit and collateral in accordance with Fannie Mae selling guidelines and Lender overlays
- Well worst with Self-employment Cash-flow and Income Analysis , Read business tax returns 1120s, 1065 and K1
- Calculate Loan-To-Value/CLTV, Debt-To-Income and housing ratios
- Evaluate and ensure overall loan documents are accurate, complete, and compliant with Investor guidelines
- Risk Analysis, Identify red flags and note the file with all required conditions
- Independently manage active files, including the conditions clearing and act as a contact point for Processors and Loan Officers in understanding of policies and procedures, and QC Audit issues
- Utilize client’s loan operating system to ensure accurate data entry
- Maintain current knowledge of client and investor requirements adaptable to changing updates and ensure loans are underwritten accordingly
- Obtain approvals from Mortgage Insurers and Investors by forwarding the terms based on their requirements, also seek Second Level Reviews with Risk Managers
- Opening the appropriate tasks in case of Approvals, Denials, Counter offers and Out of scopes
- Review and approve conditions for compliance and completion of loan file
- Possess thorough knowledge of underwriting and to be detail oriented with excellent research and decision making ability under deadline pressure to achieve Quality SLA.
Requirements:
- 3+ years of Mortgage Underwriting experience
- Knowledge of UW Fannie Mae & Freddie Mac Guidelines requirements
- Expertise in Income calculation. Cash flow analysis, etc
- Proficient in review of credit report, Appraisal report, Income documents, Title commitment, Assets & Liability docs
- Must maintain the highest standard of attention to detail
- Good computer/technical knowledge-paperless environment
- Excellent Analytical and communication skills
- Candidates must be Able to work a rotational schedule encompassing the hours of 8 to 8 in a 40 hour work week; this will involve several days a week working an 11-8 schedule, according to a preset schedule.