Mortgage Underwriter

The Underwriter’s role is to analyze mortgage loan transactions and documentation to determine credit quality and conformance with industry standards. They evaluate documents against loan parameters and guidelines set forth by the Agencies, Company and/or secondary market investors to determine if the borrower(s) and subject property qualify for the applicable loan. They approve, suspend, or deny loans with direction back to the sales and processing team when the loan decision includes suspension or denial. When possible, the underwriter will provide guidance on what, if anything, can be done to help the borrower qualify for the loan or for any other known loan products. Knowledge of guidelines and a methodic loan review process will be the key to success in this high-volume and fast paced environment.

Essential Duties

• Maintain a strong working knowledge of Agency guidelines (Fannie Mae, Freddie Mac, FHA and VA).
• Stay informed of market trends and development, changes in Agency and investor guidelines and Federal and State regulations.
• Proactively monitor your pipelines, reports and dashboards to ensure that all Service Level Agreements(SLAs) are met.
• Maintain internal turn times for underwriting new files and clearing conditions within 24-48 hours.
• Provide excellent customer service
• Respond promptly to all forms of communication.
• Communicate (both via phone and email) when required to provide guidance to MLO, LOA, and Processor regarding loan decisions.
• Respond directly and promptly to post-closing company, investor, and/or Agency requests or audits.
• Protect Key Mortgage’s assets and reputation with diligence and integrity.
• Underwrite Fannie Mae, Freddie Mac, FHA, and VA first mortgages to ensure conformance with Agency, investor and company guidelines, policies and procedures.
• Underwrite Fannie Mae, Freddie Mac, FHA and VA mortgage loans on a daily basis which includes the:
• Review and evaluation of real estate appraisals and other collateral related documentation (title, insurance, deeds, etc.)
• Examination of credit, income, and assets of loan applicants.
• Review and decision of PUD and condo projects per applicable Agency requirements.
• Underwrite Non-QM first mortgages to investor requirements.
• Examine and validate all loan documentation for accuracy and completeness and mitigate risk by requesting additional information when necessary.
• Consult with the Underwriting Manager on loan exceptions, suspending files and/or declining loans.
• Responsible for the accurate and concise input of credit decisions into the Loan Operating System (LOS).

Requirements

• Minimum of 5 years mortgage underwriting experience required.
• Direct Endorsement Authority required
• LAPP/SAR certification required
• Two consecutive years of solid FHA & VA underwriting experience
• Experience with approval processes using LPA, DU and FHA Total Scorecard
• Knowledge of Fannie Mae, Freddie Mac, FHA and VA guidelines and standards
• Familiarity with industry quality control standards and fraud detection methods
• Proficient computer skills including Microsoft Word, Excel and Google
• Excellent people skills
• Excellent verbal and written skills required
• Exceptional attention to detail and strong organizational skills
• Has the ability to work well under quick timelines
• Has the ability to utilize various systems and reporting methods and to work with various units within the mortgage company

Benefits

• Medical
• Dental
• 401k with match
• Paid Time Off
• Volunteer Time Off

Salary

• $90,000 - $100,000 + production bonus