Underwriter

Summary:

The Collateral Underwriter is responsible for evaluating the property used to secure a mortgage loan, ensuring its value supports the loan amount and complies with investor and lender guidelines. This includes appraisal review, collateral analysis, and making sound underwriting decisions based on risk assessment and lender’s policy.

Job Duties:

• Review and analyse appraisal reports to determine the acceptability of the collateral and validate property value in accordance with agency and investor guidelines.
• Evaluate Loan-to-Value (LTV) ratios and determine risk based on property condition, market trends, and location.
• Assess property types, zoning, comparable sales, and valuation methodology for accuracy and compliance.
• Identify red flags or appraisal deficiencies that may impact the loan decision.
• Perform underwriting of collateral-related elements for Non-QM loans, including complex transactions and all Tier levels.
• Maintain client SLA expectations:
• Achieves individual quality benchmarks for collateral review.
• Achieves individual production goals and turn times.
• Collaborate with Credit Underwriters and other departments to support overall loan decisioning.
• Review and interpret title reports and insurance documents to determine eligibility and compliance.
• Ensure all collateral-related conditions are met and documented appropriately prior to final approval.
• Ensure compliance with company policies, investor guidelines, and regulatory requirements.
• Document and communicate decisions clearly, providing justification for approval or escalation.
• Stay updated with current market trends, regulatory updates, and appraisal standards.

Education and/or Experience:

• Graduation
• 2+ years mortgage CU experience (front-end & live UW)
• Prior Supervisory skills are a plus.

Language Skills:

• Strong written & verbal communication.
• Proficiency in reading, writing & understanding English language.
• Ability to interpret appraisal reports, market data, title & tax documents, company policies, procedures, and guidelines.
• Strong email and professional communication etiquette.

Others:

• Displays initiative and drive for results.
• Able to work independently.
• Problem solving and resolution skills.
• Proven decision-making skills.
• Proven quality acumen
• Ability to analyse data/reports and provide accurate assessments.
• Ability to work with minimal supervision.
• Organizational skills
• Good working knowledge of Microsoft Excel, Word, and Outlook