Posted:1 week ago|
Platform:
Remote
Full Time
Role & responsibilities Maintain a working knowledge of US Mortgage Originations , closing procedures, federal and state lending laws. Must have good working knowledge of all 4Cs of underwriting. Experience in end-to-end underwriting of Conventional loans. Must have strong understanding of Desktop Underwriter (DU) and Loan Prospector (LP). Sound knowledge of Fannie Mae & Freddie Mac Guidelines. Interpret state rules, statute laws, federal regulations & investor guidelines and apply them to specific loans. Review loan file for compliance with all regulatory and client’s guidelines/overlays Analyze income & employment, credit strength, capacity to repay, property appraisal, title report; calculate and analyze LTV/CLTV/HCLTV/DTI/HTI , check all other information relevant to the credit decision process on each mortgage application. Calculate all types of income (Wage earner/self-employment/Other income etc.). Good decision maker in identifying all types of red flags and Approving or Denying the file accordingly. Analyze the risk involved in approving a loan to determine whether it is acceptable to the lender. Working knowledge of various fraud tools. Cite conditions for the missing documents in an effective manner. Audit the file from a closing & compliance standpoint on daily basis and note any exceptions.
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