The Underwriter, Gov underwrites residential loans ensuring compliance with appropriate company, secondary market investor standards and all applicable laws. The Underwriter will be responsible for examining loan documentation for accuracy and completeness; is involved in one or several types of mortgage lending including but not limited to conventional, and FHA loans. Must be able to underwrite loans within the company and industry guidelines. The Underwriter will also be working with Loan Originators, Branch Managers and Processors to secure all required documents.
Essential Job Functions:
Underwrites Conventional, FHA, and Special Program loans to verify for completeness, accuracy, and compliance
Develops and maintains an up to date and sound knowledge of multiple loan product guidelines offered by the company, DU/LP guidelines, and risk assessment tools used to decision mortgage loans
Reworks loans to new terms, identifies additional conditions as needed to insure a viable credit decision
Reviews and evaluates borrower(s) profile including but not limited to all income documentation, tax returns, credit reports, preliminary report, judgments, bankruptcy documents and appraisals
Analyzes and calculates income documentation such as personal and business income statements and ensures all necessary documentation is requested to support final loan decisions
Exercises good judgment, conducts reasonableness tests and issues quality decisions
Determines accuracy and completeness of files; ensures processes are consistent
Demonstrates proficiency in automated underwriting systems (DU, LP)
Maintains a sound knowledge of secondary market activity, practices, and business/industry practices as they impact underwriting quality and origination activity
Maintains pre-established service level standard of decisions within a 48-hour time frame set by the company
Communicates regularly with sales team, processors and management
Assists in the preparation of repurchase responses and/or rebuttal reviews
Ability to function in an ever-changing environment and work across all business channels in Underwriting (Retail/CC/Wholesale) as needed
Maintain regular and punctual attendance
Other Related Duties:
Performs other related duties as assigned
This job has no supervisory responsibilities
To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job.
Appraisal review and tax return analysis skills required
Prior credit signing authority a plus
Experience with repurchase response and/or rebuttal review and response preparation
Secondary market experience a plus
Understanding of TILA, RESPA and Predatory Lending
Strong analytical and decision making/problem solving skills
Possess a keen eye for accuracy, attention to detail and ability to handle a high volume work load
Excellent interpersonal, organizational, prioritization and time management skills
Proficient in computers including LOS systems, Microsoft Office and Excel. Ability to adapt/ learn/utilize multiple software programs. Experience with paperless environment preferred.
Ability to type/use a keyboard with sufficient speed to meet job demands
Ability to deliver effective results and to meet deadlines with minimal supervision
Self-starter, adapt to a changing environment and have the ability to communicate and work well with Investors and co-workers
Possess clear, concise and effective written and oral communication skills
Professional demeanor in appearance, interpersonal relations, work ethic and attitude
Education and/or Experience:
High School Diploma or GED Required; BA or BS degree preferred
Minimum 3 years of current front-line mortgage Underwriting Required
Ability to read and comprehend instructions, correspondence, memos, and work place policies. Ability to analyze, interpret general business periodicals, professional journals, procedures and governmental regulations. Ability to write professional correspondences. Ability to write routine business reports. Ability to speak effectively with other employees and/or customers. Ability to present formal information in one-on-one and small group situations to customers, students, parents and/or other employees. Ability to present information and respond to questions from groups of administrators, managers, employees, customers and/or the general public.
Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.
Ability to carry out detailed written and/or verbal instructions. Ability to solve problems involving concrete variables in standardized situations. Ability to define problems, collect data, establish facts, and draw valid conclusions.
Certificates, Licenses, Registrations:
ACTIVE CHUMS ID REQUIRED, DE required
Customer Service Relationships:
Anticipates customer needs and regularly motivates or influences others to deliver customer service excellence. May troubleshoot highly sensitive or confidential issues. Personally ensures problem resolution. Identifies barriers to effective customer service and sets customer service standards. Establishes a customer feedback system and holds self-accountable for customer service excellence within the department.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel; and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.
Equal Employment Opportunity
Freedom Mortgage is committed to providing equal employment opportunities to all employees and applicants without regard to race, ethnicity, color, sex, marital status, sexual orientation, gender identity or expression, pregnancy, religion, national origin, age (40 and over), disability, military status, genetic information or any other basis protected by applicable federal, state, or local laws.
Americans with Disabilities Act
Applicants as well as employees who are or become disabled must be able to satisfactorily perform the essential job functions of the position either with or without reasonable accommodation. Applicants as well as employees are encouraged to meet with Human Resources as the organization shall review reasonable accommodations on a case-by-case basis in accordance with applicable law.
The following statements reflect the general duties and responsibilities considered necessary to perform the essential functions of the job and should not be considered as an all-inclusive list of all the work requirements of the position. Freedom Mortgage Corporation may change the specific job duties with or without prior notice based on the needs of the organization.