Professional and administrative work primarily involved in reviewing and underwriting files/mortgage loans applying all federal and state guidelines and regulations to ensure compliance. Contacts are primarily with outside partner credit unions and banks.
Education: Bachelor’s degree in business, finance or a related field.
Experience: Entry level 3+ years in mortgage banking; Jr level 3+ years mortgage underwriting; Intermediate level 5+ years mortgage underwriting with FHA/VA; Sr level 7+ years mortgage underwriting with FHA/VA/USDA.
Licenses/Certifications: Jr level none; Intermediate level Direct Endorsement (DE); Sr level Staff Appraisal Reviewer (LAPP / SAR).
ESSENTIAL RESPONSIBILITIES & DUTIES:
• Follow administrative processes involved in choosing a proper course of action; comply with applicable consumer laws, regulations, company policies and guidelines, etc.
• Underwrite files to ensure secondary market salability (FNMA, FHLMC)
• Calculate income from employment verification, paystubs, W2’s, tax returns, etc.
• Determine eligible funds for closing/reserves from various asset documentation including bank verifications, bank statements, retirement account documentation, trust documents, etc.
• Review purchase agreements, preliminary title reports, and appraisals for collateral acceptability.
• Monitor daily workload and update loan status information in mortgage software (Encompass).
• Prepares required reports as necessary.
• Meet or exceed productivity standards.
Intermediate Level (all above plus)
• Underwrite FHA residential mortgage loans to federal, state, and investor
Senior Level (all above plus)
• Underwrite VA mortgage loans
• Underwrite USDA mortgage loans
OTHER DUTIES, KNOWLEDGE, SKILLS, ABILITIES:
• Current knowledge of and ability to apply mortgage industry and quality control standards, laws and regulations.
• Working knowledge of underwriting and quality control software.
• Work under stress; monitoring and reviewing details of loans and loan packages in a high-volume and fast paced environment.
• Input data accurately and efficiently into computer software systems.
• Attend accurately to many details in a timely manner.
• Maintain the confidentiality of all information processed.
• Communicate information and state problems or challenges to be resolved in a clear, concise, courteous, nondiscriminatory and professional manner, and be able to provide clarification if necessary.
• Comprehend the consequences of various problem situations and to refer them to the appropriate people for resolution.
• Resolve questions and problems with the supervisor and to manage personal work flow while meeting deadlines.
• Work the days and hours necessary to perform all assigned responsibilities and tasks. Must be available (especially during regular business hours) to communicate with employees, customers, managers and any other person or organization with whom interaction is required to accomplish work and company
• Capable of adapting, with minimal or no advance notice, to changes in how business is conducted and how work is accomplished, with no diminishment in work performance.
• Maintain courteous, professional and effective working relationships with employees at all levels of the organization, customers, vendors and/or any other representatives of external organizations.
• Actively participate in quarterly performance meetings; meet or exceed all performance metrics.
• Follows company policies and procedures.
• Perform related duties as required.