Mortgage Underwriter

Job Detail

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.