Tcs Hiring For Mortgage Underwriter-Pune Location

Job Role: US Mortgage Underwriter

Designation: Senior Process Associate

Experience required: 2yrs-6yrs

US Shifts

Mode: Work from Office ( 5days)

Location: Pune

Qualifications:

Essential: Any Full time Graduate with as minimum of 24-36 months of US Mortgage Underwriting experience.

Desirable: Exposure to the FNMA and FHLMC guidelines would be an added advantage. Exposure and knowledge of MI guidelines

The Mortgage QC Underwriter is responsible for rendering QC on closed loan files. He has to check that credit decisions on incoming applications consistent with underwriting policies, underwriting mortgage commitments, and verifying supporting documentation as submitted by applicants.

• Analyze income & employment, credit strength, property appraisal, check over debt to income (DTI) and Loan to Value (LTV) and all other information pertinent to the credit decision process on each mortgage application, as presented by the applicant.
• Underwriter to validate that a prospective mortgagors loan application adheres to the lenders, Investors (Freddie or Fannie Maes) and guidelines of applicable government agencies to approve the loan

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• Analyzing the risk involved in approving a loan to determine whether or not it is acceptable to the lender.
• Mark errors for any deficiencies observed on the loan
• Verify accuracy of supporting employment documents, source of down payment/reserves, appraisal value and property title commitment received.
• Review of legal documents, if present, to ensure the accuracy & completeness.
• Identify the mortgage insurance requirement (MI) and follow the MI guidelines, if applicable.

Additional responsibilities for the Mortgage Underwriter include:

• Maintaining service level standards
• Assisting in new-hire trainings
• Perform internal Quality check, providing floor support and feedback to other staff
• Responding to all emails efficiently
• Adhering to all underwriting deadlines

Person Specification

Knowledge/Experience:

• Minimum 24-36 months of conventional mortgage underwriting/QA/QC experience

• Knowledge of full loan cycle (from beginning to end)
• Strong understanding of Desktop Underwriter (DU) and Loan Prospector (LP)