NON-QM UNDERWRITER

EXPERIENCE AND KNOWLEDGE

• Experience of more than 3 to 5 Years in US Mortgage Industry and minimum 2 years in core Underwriting.

• Well versed with all 4 Cs of Underwriting

• Knowledge of Non-Agency/Non-QM (Jumbo loans) underwriting guidelines demonstrated through a minimum of 1+ years’ experience of Manual underwriting.

• Knowledge of major Non-QM lenders’ guidelines such as Chase, Wells Fargo, US Bank etc.

• Knowledge of Bank statement only programs, asset-based income programs is added advantage.

• In depth knowledge of Agency guidelines for Conventional loans (FNMA & FHLMC), FHA, VA, USDA etc will added advantage.

• Detailed understanding of Mortgage documents including Income, Credit, Asset, Appraisal, other underwriting and compliance documents.

• Knowledge of income, LTV and DTI ratios calculation.

• Knowledge of multiple mortgage processing software like Encompass. Empower etc. will be added benefit.

• Excellent written and oral communication skills in addition to interpersonal skills.

• Strong problem-solving and analytical skills.

• Ability to work independently, with minimal supervision.

• Good working knowledge of MS Outlook and Office application.

• Ability to research and provide accurate resolution to queries and escalations.

DUTIES AND RESPONSIBILITIES



• Live/Post Close Manual Underwriting/QC of loan files as per Fannie Mae, Freddie Mac, Client/Investor (Chase, Wells Fargo, US Bank etc.) guidelines as required.

• Reviewing the Borrower profile including Credit, Income, Assets, Collateral, Compliance and other Lending risks such as interested party involvements as per agency/investor guidelines.

• Reviewing loan files thoroughly to assess the risks associated with loans and providing approval/denial basis on the information provided.

• Reviewing all types of incomes (salaries, rental and self-employed) documents to determine the appropriate and reliable amount of income to be used for qualifying the borrowers.

• Assessing borrowers’ creditworthiness by reviewing their Credit Reports and by other credit documents.

• Determining the acceptability of subject property as per required guidelines by reviewing Title and Appraisal Report.

• Reviewing Asset documents to verify borrower’s net worth and liquidity for cash to close and reserve requirements.

• Reviewing all other documents related to underwriting, identifying red flags for the compliance to State and Federal laws.

• Identifying the derogatory events/accounts associated with borrowers to comply with the waiting period requirements.

• Providing recommendation based on the loan review such as Approved, Suspend and Denied/Ineligible etc.

• Maintain the reports as required by the process and management.

• Providing training and assistance to junior team members.

Educational Qualification

Graduate in any Stream.