General Purpose: Underwrite loans for successful transaction and sale.
Essential Duties and Responsibilities:
- Underwrite Conventional, USDA and FHA loans within company, investor and industry guidelines.
- Maintain a current knowledge of loan programs.
- Analyze and issue credit decisions.
- Review and make informed decisions on financial statements, credit reports and applicable ratios (i.e. DTI and LTV).
- Evaluate/examine transactions to ensure accuracy and completeness.
- Ensure documents are consistent and
- Identify red flags on documentation.
- Assist with restructuring of loans based on lending guidelines.
- Gather information from agency material to make appropriate decisions.
- Assign and sign off on appropriate loan conditions.
- Assist Processing Department with problematic files to expedite submissions.
- Effectively be able to explain rationale behind credit decision to internal customers and/or auditors.
- Analyze risk appropriately by assessing property information including; purchase contract, escrow instructions, and preliminary title report.
- Answers program guideline and borrower qualification questions from loan consultants and processors.
- Communicate effectively with internal staff to maintain high level of customer service.
- Proficient in DU (Desktop Underwriter) and LP (Loan Prospector) Programs.
- Learn how to underwrite VA loans and acquire SARS certification.
- Calculate income from salary, self-employed and corporate W2s.
- Able to complete 4 – 6 loans per day.
- Adhere to department turnaround standard of 24 – 48 hours.
- Perform other related duties as assigned and required.
Education and/or Experience/Licenses and/or Certificates:
- High school diploma or general education degree (GED)
- 4 or more years of successful professional experience within the mortgage lending industry preferred.
- 1 -3 years of successful Conventional underwriting required.
- Valid and current FHA Direct Endorsement (DE) and VA certification perferred.
- Proficiency in DU (Desktop Underwriter) and LP (Loan Prospector) Programs