Senior Process Executive - Loan Originations Live Underwriting

Cognizant

3 - 5 years

0 Lacs

hyderabad telangana india

Posted:1 day ago| Platform:

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Skills Required

underwriting compliance risk data documentation integrity training reports management processing lending service communication

Work Mode

On-site

Job Type

Full Time

Job Description

Loan Underwriter III (US)

Job Profile Summary:

The Loan Underwriter III underwrites and evaluates conventional, FHA, VA, and CRA Residential Mortgage applications in compliance with bank policies and procedures. This job also underwrites and evaluates Home Equity and Consumer Loans.

Depth & Scope

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

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
Willingness to work from the office during night shifts including rotational shifts.

Job location: Chennai or Hyderabad

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