Underwriting /mortgage

Roles and Responsibilities:

• Loan Application Review

  : Evaluate and review mortgage loan applications to assess the creditworthiness and risk associated with the borrower. Ensure that applications meet both regulatory and company guidelines.

• Risk Assessment

  : Analyze financial documents, credit reports, appraisals, property valuations, and income verification to determine the risk associated with a mortgage application.

• Decision-Making

  : Approve, deny, or recommend modifications for mortgage loans based on underwriting guidelines and financial data, ensuring compliance with internal policies and external regulations.

• Compliance & Regulatory Knowledge

  : Ensure that all underwriting decisions comply with regulatory requirements, including federal, state, and local laws (e.g., RESPA, TILA, TRID, and HMDA).

• Documentation Management

  : Review borrower documents, such as income statements, tax returns, bank statements, and credit reports, to verify their authenticity and accuracy.

• Communication with Clients & Brokers

  : Liaise with loan officers, brokers, and other stakeholders to clarify loan requirements, resolve discrepancies, and communicate the status of the underwriting process.

• Appraisal & Title Review

  : Review property appraisals and title reports to ensure they are accurate and align with the mortgage loan requirements.

• Debt-to-Income & Loan-to-Value Ratio Evaluation

  : Assess the borrower's debt-to-income (DTI) ratio and loan-to-value (LTV) ratio to determine the overall risk of the loan.

• Automated Underwriting Systems

  : Utilize automated underwriting systems (AUS) like Fannie Mae, Freddie Mac, or proprietary systems to assess loan eligibility.

• Portfolio Management

  : Monitor and assess loan portfolios, flagging any concerns or potential risks in the loan book.

• File Documentation & Record Keeping

  : Ensure all loan files are complete, organized, and compliant with underwriting guidelines, maintaining clear and accurate records for audit and review purposes.

• Escalations and Special Requests

  : Handle complex, high-risk, or non-standard loan scenarios by escalating to senior underwriters or management for further review and final decision-making.

• Quality Assurance

  : Conduct post-closing reviews and audits of loan files to ensure compliance with all underwriting standards and identify areas for improvement.

• Collaboration with Other Teams

  : Work closely with loan processors, closers, and other departments to resolve issues that may arise during the underwriting process and ensure smooth loan closures.

Skills and Qualifications:

• Strong Analytical Skills

  : Ability to assess financial documents, risk factors, and make data-driven decisions based on an applicant's ability to repay the mortgage.

• Attention to Detail

  : Ensure accuracy in the review of financial statements, credit reports, appraisals, and other key loan documents.

• Knowledge of Mortgage Products

  : Understanding of various mortgage products (conventional, FHA, VA, USDA) and underwriting guidelines for each.

• Regulatory Knowledge

  : In-depth knowledge of industry regulations, such as

  TRID

  ,

  HMDA

  ,

  TILA

  ,

  RESPA

  , and

  Dodd-Frank Act

  , as well as state-specific mortgage laws.

• Communication Skills

  : Excellent verbal and written communication skills to interact with clients, brokers, and internal teams effectively.

• Problem-Solving

  : Ability to identify issues in loan files and propose solutions to resolve them efficiently.

• Decision-Making Ability

  : Strong ability to make quick and sound decisions regarding loan approval, denial, or modifications.

• Time Management

  : Ability to manage multiple loan applications and tasks while adhering to deadlines.

• Customer Service Orientation

  : Maintain professionalism when dealing with applicants, brokers, and other stakeholders to ensure a smooth experience.

• Technical Proficiency

  : Familiarity with underwriting software (e.g., Encompass, Calyx, Lending QB), automated underwriting systems (e.g., DU/DO), and MS Office Suite (Word, Excel, Outlook).

• Risk Management

  : Ability to balance risk with company profitability and ensure loans are underwritten in a way that minimizes defaults.