Mortgage Underwriter QA

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

Questionnaire-

 When you talk about assets, let's say for example we have Ira, retirement account. What do you check in that?

 How will you do asset depletion calculation?

 What is the credit score required for conventional?

 Have you worked on FHA? What is the requirement in FHA?

 so you have a purchase primary, OK, the LTV is about 90%, What is the allowable interested party contribution?

 What are the minimum comparables or how many comparables are minimum required on appraisal?

 So if there is a second home, how many miles away should it be from the primary.

 In a rental income, mentioned on the 1003, it is mentioned as $1000 per month, Tell me a scenario where you will

consider entire 100% or tell me a scenario where you will not.

2301 Maitland Center Parkway | Suite 165 | Maitland FL 32751 | 888.500.7475 | www.digitalrisk.com

 Which schedule is required for sole proprietor income?

 What do you understand by free and clear property?

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