loanDepot Wholesale prides itself on a culture of innovation, transparency, and high quality service. With the financial strength of its parent company, loanDepot, LLC, and a team of seasoned mortgage professionals with over 20 years of mortgage lending experience, loanDepot Wholesale provides partners with industry-leading tools and resources including technology, training, diverse loan products, and competitive rates. LDWholesale delivers a fast, integrated, and seamless technology-based lending experience for business partners and their customers.
loanDepot — We are America’s Lender.
Responsible for performing a detailed review of residential mortgage loan applications and documentation as submitted through third party originators to ensure that the loans meet underwriting guidelines as established by loanDepot, VA, USDA and HUD. The detailed review of the submission will include reviewing all documentation including but not limited to credit reports, income documentation, asset documentation, collateral, fraud prevention tools and other applicable documentation as required to render a decision. Responsible for effectively communicating all lending decisions to appropriate parties as defined by loanDepot procedures and process Adverse Action Notices, where applicable.
- Review and analyze documentation provided on each loan including the all Agency specific forms, credit report, income and asset documentation, purchase agreement, title report, etc. to make an informed lending decision in compliance with HUD, VA and loanDepot policies and guidelines.
- Calculate borrower’s income and debt-to-income ratios based on acceptable loanDepot and HUD/VA/USDA practices
- Render a lending decision within assigned lending authority in compliance with established underwriting guidelines and all state and federal reporting guidelines (Including but not limited to HMDA, RESPA)
- Document lending decisions and completes required screens in the LOS that include the accurate completion of the required Agency forms as well as adding and/or creating applicable conditions of the loan approval
- Review conditions submitted on loans from Brokers and signs off the condition when appropriate
- Provide feedback for improvement to Junior Underwriters, Account Manager and/or Team Leads in deficient areas as identified through the review of conditions submitted
- Work closely with Account Manager and/or Territory Manager to answer loan specific underwriting questions, to discuss specific conditions or documentation requested and to resolve problems
- Perform a comprehensive appraisal review to ensure the collateral is acceptable, meets loanDepot, USDA/VA/HUD guidelines
- Run, read and interpret AUS results (to include FHA Scorecard, GUS, DU, LP)
- Accurately complete Agency required forms including, but not limited to the VA 26-1802a, HUD 92900LT (Loan Transmittal), the 92900A (HUD Addendum to the URLA) and the 1980-21 (Request for SFH Guarantee)
- Adhere to specified underwriting guidelines to fulfill USDA/VA/HUD loan requirements
- Display excellent verbal, written and interpersonal skills
- Effectively communicate all decisions and any required conditions to the broker, Territory Manager and/or Account Manager
- Provide assistance to expedite final approval of the file
- Maintain and cultivate an effective working relationship with internal and external customers
- Respond to all inquiries in a timely manner as established by company SLA’s
- Embrace company culture
- Be able to adjust work and thought process to accommodate changes in the lending environment
- Consistently meet or exceed established minimum productivity levels as determined and required by management for both underwriting and condition management
- Provide mentoring, guidance and training to less experienced personnel
- Provide quality control responses in a timely manner
- Act as a role model of the company’s values, acting in an ethical and professional manner at all times
- Perform other duties and special projects as required
- Current market experience with a minimum of 5 years in the mortgage industry with substantial emphasis on underwriting and credit analysis.
- Minimum of 4 years of current VA underwriting experience
- LAPP/SAR DESIGNATION REQUIRED
- Competitive compensation reliant on ability & experience
- Excellent benefits package including multiple health, dental & vision options
- Company paid life and AD&D Insurance, as well as additional voluntary benefit possibilities
- 401K with robust company match
- 15+ PTO days, in addition to 8 paid company holidays
- The opportunity to work for America’s Lender under the vision of industry legend, Anthony Hsieh