What are the responsibilities and job description for the Residential Loan Underwriter position at Ascendo Resources?
Key Responsibilities
- Review and assess residential mortgage loan applications for accuracy, completeness, and compliance with underwriting standards and applicable regulations.
- Analyze credit reports, income documentation, assets, liabilities, and property appraisals to determine borrower eligibility.
- Make sound credit decisions within established authority limits and provide clear and concise explanations for approvals, suspensions, or denials.
- Ensure loans meet investor guidelines (e.g., FNMA, FHLMC, FHA, VA) and adhere to company and regulatory policies.
- Communicate with loan officers, processors, and other stakeholders to resolve discrepancies or obtain additional documentation.
- Maintain up-to-date knowledge of underwriting guidelines, regulatory changes, and industry trends.
- Document all decisions and maintain detailed records in the loan origination system.
- Support post-closing reviews and audits by addressing any deficiencies or inquiries.
- Provide guidance and mentorship to junior underwriters or support staff, as needed.
Qualifications
- Bachelor’s degree in finance, accounting, business, or a related field (preferred but not required).
- Minimum of 3 years of experience in residential mortgage underwriting.
- In-depth knowledge of underwriting guidelines, loan products, and regulatory requirements
- Familiarity with automated underwriting systems (e.g., DU, LP) and loan origination software.
- Strong analytical skills and attention to detail.
- Excellent communication and interpersonal skills.
- Ability to prioritize and manage multiple tasks in a fast-paced environment.