Job Description

Basic Description

A Mortgage Underwriter is responsible for ensuring both the credit worthiness and compliance of a potential borrower. The underwriter must ensure the borrower has both an acceptable credit history and the capacity to repay the loan per the proposed terms. The underwriter must also ensure the property represents acceptable collateral for the proposed loan terms. Further, the underwriter is charged with reviewing all aspects of the loan for compliance with the myriad of overlapping guidelines and regulations imposed by HUD, FNMA, FHLMC, FHA, VA, USDA, secondary investors, mortgage insurance providers and internal program overlays.

The underwriter must also be able to assist other Flat Branch Home Loans departments with the entire loan process from pre-application through shipping and final purchase/delivery of the closed loan by the agencies.

All candidates that reside within the United States will be considered.

Responsibilities

• Decision ready file is logged into underwriting by the Disclosure Desk.
• File may not be 100% complete but should contain sufficient information and documentation to enable a credit decision to be rendered.
• The Underwriter pulls the file and reviews the application and supporting documentation and makes an initial underwriting decision based on the preliminary data provided.
• The Underwriter completes a Notice of Loan Action on the file and returns it to the Loan Coordinator.
• If the loan is denied at this stage or any stage in the process, it is returned to the Loan Coordinator and forwarded to the Senior Underwriter (or Operations Manager– if Senior Underwriter made the initial decision) for a second review, if required.
• If the loan is approved or suspended…
• The Underwriter returns the approved or suspended file to the Loan Coordinator with a list of outstanding conditions and/or requirements to be completed for final loan approval.
• Once the Loan Coordinator has satisfied all the requirements of the initial Notice of Loan Action, the file is once again logged into underwriting by the Loan Coordinator.
• The Underwriter pulls the resubmitted file, reviews the conditions and any possible changes, and then renders a final decision based on the complete file. Provided all the conditions have been satisfied, the Underwriter will indicate the final approval by marking the file as “Clear to Close” and include any additional required instructions for closing and/or post-closing. The file is then returned to the Loan Coordinator, and the Mortgage Loan Closer is notified that the file has been cleared to close.

Additional Underwriter Involvement May Include

• Consultation with the Loan Coordinator throughout the loan process, both before a file is initially submitted, and prior to the final submission for “Clear to Close”
• Consultation with the Mortgage Loan Closer after the file is submitted to closing.
• Consultation with the Loan Shipper prior to submission of the closed loan package to the Secondary Market Investor.
• Consultation with the Secondary Market Investor prior to purchase of the closed loan.
• Assistance with the post-closing Quality Control Review process.

Requirements

Qualifications & Skills

• 5+ years of mortgage processing or equivalent experience in loan document review.
• Familiarity with industry guidelines and regulatory requirements.
• Basic understanding of financial statements, credit analysis, and risk assessment.
• Ability to perform basic income calculations and evaluate debt to income (DTI) and loan to value (LTV) ratios.
• Strong analytical, organizational, and communication skills.
• High attention to detail with strong time management skills.
• Adaptable to change with the ability to manage shifting priorities effectively.
• Proficient in standard computer applications and comfortable working in paperless environment.
• Experience with Encompass LOS preferred, but not required.
• Ability to thrive in a fast-paced, remote work environment.
• Ability to sit for prolonged periods and work extensively on a computer.

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