Residential Mortgage Live Underwriter / SPE / SME

Loan Underwriter I (US)

• Underwrites ethical and salable residential mortgage and consumer loans and evaluate risk while insuring the quality of each loan submitted
• Approves loans, issues alternative options, or adverse action accordingly using sound judgment while applying bank policies and procedures
• Validates the data entry to the appropriate Loan Operating System and evaluates all applicable documentation as required by job function and condition
• Demonstrates In-depth knowledge of regulatory, investor and departmental lending policies for underwriting of conventional loan requests
• Evaluates all documents and condition loan accordingly. Inform Processor of any additional items necessary to substantiate loan request
• Identifies loans for exceptions while ensuring proper procedures are followed for approval and documentation and assists in clearing or resolving any issues
• Notifies Management of integrity issues and ensures files are compliant to internal guidelines and external regulatory requirements
• Maintains knowledge of loan product guidelines, internal policies and procedures, and regulatory requirements
• May coach and mentor assigned operations staff and assists with training and guidance as assigned by Underwriting Manager

Education & Experience:

• High school diploma or GED required
• 1-2 years underwriting experience and/or 2 + years of loan processing experience
• Working knowledge of loan underwriting and documentation requirements
• Knowledge of Agency Guidelines and DU automated underwriting system and the ability to provide excellent customer service to both internal and external customers
• Excellent oral and written communication skills
• Solid PC skills
• Knowledge of regulatory, investor and departmental lending policies for underwriting
• Knowledge of CRA products and industry
• Detail oriented, possessing excellent organizational, analytical and decision making skills
• Ability to communicate with multiple business partners in the organization
• Ability to handle heavy workload, multitask and meet stringent deadlines

Loan Underwriter II (US)

• Underwrites all types of income, all product types including ethical and salable residential mortgage loans and consumer loans and evaluates risk while ensuring the quality of each loan submitted
• Approves loans, issues alternative options, or adverse action accordingly using sound judgment while applying bank policies and procedures
• Validates the data entry to the appropriate Loan Operating System and evaluates all applicable documentation as required by job function and conditions loan accordingly; informs Processor of any additional items necessary to substantiate loan request
• Demonstrates in-depth knowledge of regulatory, investor and departmental lending policies for underwriting of conventional loan requests
• Identifies loans for exceptions while ensuring proper procedures are followed for approval and documentation; assists in clearing or resolving any issues
• Manages integrity issues and ensures files are compliant to internal guidelines and external regulatory requirements
• Maintains knowledge of loan product guidelines, internal policies and procedures, and regulatory requirements
• Coaches and mentors assigned operations staff; assists with training and guidance as assigned

Education & Experience:

• High school diploma or GED required; 2 year degree or equivalent experience preferred
• 2+ years underwriting experience
• Advanced knowledge of loan underwriting documentation requirements
• Knowledge of Agency DU automated underwriting system; must also be familiar with underwriting larger, more complex and specialty products
• Ability to effectively communicate with all types of personalities and the ability to provide excellent customer service to both internal and external customers
• Superior oral and written communication skills
• Excellent PC skills
• In-depth knowledge of CRA products and industry
• Knowledge of CRA products and industry
• Detail oriented, possessing excellent organizational, analytical and decision making skills
• Ability to communicate with multiple business partners in the organization
• Ability to handle heavy workload, multitask and meet stringent deadlines

Loan Underwriter III (US)

• Underwrites ethical and salable residential mortgage and consumer loans and evaluates risk while ensuring the quality of each loan submitted
• Approves loans, issues alternative options, or adverse action accordingly using sound judgment while applying bank policies and procedures
• Validates the data entry to the appropriate Loan Operating System and evaluates all applicable documentation as required by job function
• Evaluates all documents and conditions loan accordingly
• Identifies loans for exceptions while ensuring proper procedures are followed for approval and documentation; clears or resolves any issues
• Escalates integrity issues as appropriate and ensures files are compliant to internal guidelines and external regulatory requirements
• Maintains knowledge of loan product guidelines, internal policies and procedures, and regulatory requirements
• Coaches and mentors assigned operations staff; assists with training and guidance as assigned
• Monitors vendor performance if required, submits monthly reports to management

Education & Experience:

• 2 year degree or equivalent experience preferred
• 3-5 years loan underwriting experience or 5-7 years of loan processing experience
• 3-5 Years Residential Loan Underwriting Experience
• Supports the High Net Worth/Wealth Mgmt customers, with residential/consumer lending limits in the $1-2MM aggregate range as approved by Credit Risk Management
• Outstanding knowledge of loan underwriting documentation requirements
• Mortgage Operations - complete knowledge of FNMA DU automated underwriting system; must also be familiar with underwriting jumbo loans and government products such as FHA and VA loans
• Ability to effectively communicate with all types of personalities and the ability to provide excellent customer service to both internal and external customers
• Superior oral and written communication skills
• Excellent PC skills
• In-depth knowledge of regulatory, investor and departmental lending policies for underwriting of conventional loan requests
• In-depth knowledge of CRA products and industry
• Detail oriented, possessing excellent organizational, analytical and decision making skills
• Ability to communicate with multiple business partners in the organization
• Ability to handle heavy workload, multitask and meet stringent deadlines

Loan Underwriter IV (US)

• Underwrites complex residential mortgage loans and evaluates risk while ensuring the quality of each loan submitted
• Senior level loan decision authority, reviews and underwrites most complex portfolio loans CEMA, Med/Pro, Construction, Jumbo and Wealth
• Approves loans, issues alternative options, or adverse action accordingly using sound judgment while applying bank policies and procedures within risk tolerance
• Independently considers, recommends and discusses alternative structures and overall assessments
• Evaluates all documents and conditions loan accordingly
• Identifies loans for exceptions while ensuring proper procedures are followed for approval and documentation; clears or resolves any issues
• Escalates integrity issues as appropriate and ensures files are compliant to internal guidelines and external regulatory requirements
• Maintains knowledge of loan product guidelines, internal policies and procedures, and regulatory requirements.
• Indirect supervisory authority; coaches and mentors junior underwriters; assists with training and assesses analysis prepared for accuracy and compliance with policy, guidelines and procedures in all prepared loan recommendations to arrive at an appropriate credit decision
• Obtains and reviews financial information and provide in-depth credit analysis practices
• Acts as a subject matter expert in the most complex lanes or work

Education & Experience:

• 4 Year Degree or equivalent experience preferred
• 5-7 Years of related experience
• Strong knowledge of local market sector and industry trends
• Ability to understand and interpret real estate appraisals
• Ability to identify, analyze and mitigate project risks
• Advanced written and verbal communication skill
• General knowledge of Microsoft Office Suite
• Strong interpersonal and negotiation skills
• Strong Focus on documentation and risk management
• Demonstrated ability to complete complex tax return analysis to determine cash flow income
• History of underwriting complex jumbo loans in addition to thorough knowledge of agency guidelines

Valid PAN Number - _____________________(Why PAN Required > Mandatory to Process Candidature & Find Duplicity in Internal PAN Validation Process and also to initiate a screening call

Please reach out in case of any queries.

Sonali Chattopadhyay I Associate People Success