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. Skills: Portfolio Management, Risk Assessment, Data Verification Experience: 1.00-6.00 Years