The underwriter is responsible for the timely and accurate analysis of loan applications, including credit, income, and asset profiles to mitigate company risk. They must maintain specific daily loan volume quotas and ensure all underwriting decisions comply with investor and agency guidelines.
Job DetailsJob Category: UnderwritingThis position is responsible for the timely and accurate analysis and evaluation of loan applications based on a borrower's credit, employment, income, financial data, and asset profile, along with the appraisal report, and investor guidelines. An underwriter makes sound decisions that mitigate risk to the company, adhere to quality standards, and maximize the borrower's chances of obtaining and sustaining homeownership.
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DUTIES & RESPONSIBILITIES are as follows.
Responsible for underwriting a minimum of 4 new loans per day for government underwriters and 6 new loans per day for conventional underwriters (or as applicable to daily assigned tasks) while minimizing any risk to the company by thoroughly analyzing a borrower’s income, credit, assets, ratios and the collateral to ensure compliance with our investors, agencies, HUD, VA, USDA or HFAs, as applicable.
Maintain 24-48 hour turn times.
Responsible for clearing UTC conditions within 24 hours.
Responsible for remaining updated on all investors, agency, and UHM guideline changes along with any overlays.
Ensure the accuracy of all necessary criteria for specific loan types, products, rates, applicable documentation, and data.
Maintain quality control ratings within company standards.
Listen in on departmental huddles.
Additional responsibilities as required.
QualificationsEDUCATION & EXPERIENCE
3+ years of experience as an Underwriter and complete knowledge of the mortgage business
Must have experience with Non QM loans
Bachelor’s degree or equivalent work experience preferred
SKILLS REQUIRED
Strong analytical skills, especially in credit and risk, along with decision making skills
Effective interpersonal skills and technical report writing skills.
Attention to detail.
Knowledge of Encompass LOS a plus
Shows work commitment
Personal organization
Adaptability and flexibility
Ability to multi-task and meet strict deadlines.
Fosters teamwork
Uses sound judgement
Comfortable using financial/ quantitative data.
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